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VEF - Valuation and entrepreneurial finance, CIP040

Status: Avslutad
Öppen för svar: 2007-12-13 - 2007-12-20
Antal svar: 14
Procent av deltagarna som svarat: 42%
Kontaktperson: Anneli Hildenborg»
Utbildningsprogram som genomför enkäten: Chalmers
Klass: Övriga


Your own effort

1. How many hours per week did you spend on this course?

We mean total time, that is, it comprises the time you spent in class and the time you spent on your own work. Try to estimate the average time over the entire study period.

13 svarande

At most 15 hours/week»9 69%
Around 20 hours/week»3 23%
Around 25 hours/week»1 7%
Around 30 hours/week»0 0%
At least 35 hours/week»0 0%

Genomsnitt: 1.38

- have spent around 15h/week» (At most 15 hours/week)
- Hard to estimate since you sometimes work with the project with VEF related issues without thinking about it. » (Around 20 hours/week)
- svår fråga att svara på» (Around 20 hours/week)

2. How large part of the teaching offered did you attend?

14 svarande

0%»0 0%
25%»0 0%
50%»0 0%
75%»3 21%
100%»11 78%

Genomsnitt: 4.78

- We have had some project meetings that have resulted in that we missed some lessons» (75%)
- The lectures given at Handels did not feel conected and relevant to what we are doing in our project. Even if you take a perspective over longer time I have a hard time seeing that what I learned from these lectures is applicable on the work that I will be doing in a start-up company.» (75%)
- As much as i had the possability to. » (100%)


Goals and goal fulfilment

The course syllabus states the course goals in terms of learning outcomes, i.e., knowledge, skills and attitudes to be acquired by the student during the course.

3. How understandable are the course goals?

14 svarande

I have not seen/read the goals»2 14%
The goals are difficult to understand»1 7%
The goals give some guidance, but could be clearer»9 64%
The goals clearly describe what I am supposed to learn»2 14%

Genomsnitt: 2.78

- The are difficult in the sense that they dont pin point what learning outcome devlivered. On the other hand since the course variuos from assignemtn to project work i feel that it is understandable that the goals are somewhat abstracts since, as i see it, they need to give a somewhat holistic view. » (The goals are difficult to understand)
- The goals are clear but I don"t think that the content of the course was related to the goals at all times (the Handels lectures for instance).» (The goals clearly describe what I am supposed to learn)

4. Are the goals reasonable considering your background and the number of credits?

Answer this this question and the succeeding one, only if you do know the course goals.

12 svarande

No, the goals are set too low»1 8%
Yes, the goals seem reasonable»10 83%
No, the goals are set too high»1 8%

Genomsnitt: 2

- More lectures would be appreciated. The lectures from handels were really poor» (Yes, the goals seem reasonable)
- The goals were reasonable, but compared to the other courses we have taken VEF have taken much more time. The examination of this course might be a little too much.» (Yes, the goals seem reasonable)
- During the spring the Handels course took too much time, but I guess that will be changed to next year anyway» (No, the goals are set too high)

5. Did the examination assess whether you have reached the goals?

12 svarande

No, not at all»0 0%
To some extent»10 83%
Yes, definitely»1 8%
I don"t know/have not been examined yet»1 8%

Genomsnitt: 2.25

- Some VEF assignment would have been better to have as specific assignement instead of something that you must ad in a Business plan even if it dont have any value. I am thinking of e.g. the valuation of our business using a discounted cash flow, since we got information at Öhrlings that this is completely unnessessary for a start up company to do themselves. You shouldnt add this to a busines plan where we ahve page limitation and this is nto something that we want to use a page on when it gives no value for the BP as such. » (To some extent)
- The valuation part in the business plan is mostly there because of the VEF-course. I believe that we could have handed in a valuation separated from the BP and thereby make the BP more reality based from a startup point of view.» (To some extent)
- The examination from the spring was more to learn by heart. The understanding was poor since the quality of the lectures was quite low» (I don"t know/have not been examined yet)


Teaching and course administration

6. To what extent has the teaching been of help for your learning?

14 svarande

Small extent»2 14%
Some extent»9 64%
Large extent»3 21%
Great extent»0 0%

Genomsnitt: 2.07

- The teachers from Handels have not been contributing, more disturbing the learning. However, other guest lecturers have been good» (Some extent)
- Varies largely between the modules, some parts of this course have been extremely good learning experiences (the three day business simulation) while some has been quite bad.» (Some extent)
- The lectures in the course in corporate finance from Handels was useless, to quick and not on a applicable level. the part from Johan Dergård was good.» (Large extent)


Study climate

7. How were the opportunities for asking questions and getting help?

14 svarande

Very poor»1 7%
Rather poor»5 35%
Rather good»5 35%
Very good»3 21%
I did not seek help»0 0%

Genomsnitt: 2.71

- There was not a teacher assigned for this course and therefor no one had time to help or give clear information in time.» (Very poor)
- Det har varit en rätt rörig kurs» (Rather poor)
- Depedns on what teachers we wish to ask question to.» (Rather good)
- This is one of the strengths of the institution, that you promote us to ask questions. You are glad to answer them - keep up that work!!» (Very good)

8. How well has cooperation between you and your fellow students worked?

14 svarande

Very poorly»0 0%
Rather poorly»1 7%
Rather well»2 14%
Very well»11 78%
I did not seek cooperation»0 0%

Genomsnitt: 3.71

9. How was the course workload?

14 svarande

Too low»0 0%
Low»1 7%
Adequate»7 50%
High»6 42%
Too high»0 0%

Genomsnitt: 3.35

- It wasnt the highest, yet when there was work to do it came in such a big lump that there was period with extensive VEF work. » (Adequate)
- Sometimes too high, and sometimes too low, very varying.» (Adequate)
- Compared to the other courses, this one have taken far more time.» (High)

10. How was the total workload this study period?

14 svarande

Too low»0 0%
Low»0 0%
Adequate»4 28%
High»7 50%
Too high»3 21%

Genomsnitt: 3.92

- same as answer above. » (Adequate)
- In my personal case I have had quite hard time to get everything to work with project work, studies, personal life and health» (High)
- To little time to do the exercises, we got them too late and only had a few days to make it and that lowered the quality» (Too high)


Summarizing questions

11. What is your general impression of the course?

14 svarande

Poor»5 35%
Fair»6 42%
Adequate»2 14%
Good»1 7%
Excellent»0 0%

Genomsnitt: 1.92

- No information, bad lectures,» (Poor)
- did not integrate the parts, lectures and assignemnts, of the education into the project work!!!!» (Poor)
- Some parts of the course did not feel relevant at all (i.e. the lectures on Handels)» (Fair)
- To much focus on big companies.» (Fair)
- There was part that was excellent (the VEF related business game) and things that was below adequate. I didnt like the target costsing and part of the corporate finance. » (Adequate)
- By improving/exchanging the handelscourse and have a well-informed course leader with responsibilities and freedom to operate, not just demands it will be better» (Good)


Part II: General Questions

12. What is your overall impression of the VEF course? Please motivate your answer!

- Pls see questino 11. »
- Unstructured, but necessary. This is important part of the entreprenurial learning and needs to be included in the course program. The best part was the game in the beginning of the year with v4m or something. DO NOT REMOVE THAT »
- The course gave some insights into the views of the financial community and the investor. The target costing excercise and the game was great. »
- It is good but when combined with other school work there is little time to really understand the material. it should be timed in a better way.»
- It is very chaotic and badly managed. One of the most substandard courses I have ever had. The topic in itself is interesting and important but the execution spoils it.»
- En välidgt krånglig kurs, med massa olika delar på olika ställen (mest under våren). »
- I did not learn anything from lectures, only from reading and friends»
- Really poor. The lectures were not good at all and were not at all customized to the students from Chalmers but solely to the handels students.It would be better to have our own course and a teacher that was availiable and had time to answer questions and to help»
- unstructured, would be good with better information. and more tied to the project. »
- No one has put energy into creating this suitable for the business design program!»
- See comments above.»
- The corporate finance course was not relevant to small venture creation and valuation.»
- I would like to see a more start-up focus. It did not seems like the teacher knew much about what we were doing. Maybe some alumni that is good in the subject can do the teaching. They know what we are doing and what we need. Then you do not have to work so hard to define the course.»

13. What would you recommend us to do differently next year, do you have suggestions for improvements?

- I feel that there has to be a better communcation between CIP and handels. The first three weeks or so of the corporate fiance course we didnt even know what to do what teacher we had and where the lectures was. And from assignemtn point of view, neither we nor the teacher at handels had great knowledge of what to deliver. This gave a lot of set back for the overall impression. »
- By improving/exchanging the handelscourse and have a well-informed course leader with responsibilities and freedom to operate, not just demands it will be better»
- Improve or remove the corporate finace part at handels. »
- more assignments and practical work.»
- The responsible teacher for the course should actually be present to explain what the course is about. The parts at Handels and Chalmers need to be more syncronized. As it was now we had no idea which parts of the handels course we as GIBBS/CSE were supposed to learn etc.»
- göra handelsdelen av kursen under våren klarare och ha koll på vad som gäller och förmedla detta.»
- Have a technician as a lecturer to get simple explanations and a good structure.»
- Teacher that has time for the Chalmers students»
- give more information about the tasks.»
- Remake the course. Take away parts not connected to the project and replace them with linked assignments.»
- Definitely keep the business simulation. Find an alternative to the part of the course held at Handels.»
- Have lectures connected to small venture creation.»
- See answer on 12.»

14. What was your general impression of the administration of the course?

- pls see question 13. The good part there was good also in administration and the poor was poor. »
- Caotic. Olof was just thrown into the course with not enough means to make it good. He did not have full focus on it either, Mats have not had the time to make a good job with so I hope it will get better to next year with clearer definitions of responsibility»
- Administration? »
- a bit confusing since it was held at Handels.»
- Very poor. The responsible teachers sometimes knew less than the students about the course.»
- Sådär, det känns som om det har varit dålig kommunikation till eleverna.»
- They did the best they could, the lecurers were poor.»
- Poor»
- very badly run, no one took responibility.»
- Anneli = very good! Handels = very bad!»
- Extremely poor. It was very uncertain which parts of the Handels course that we were required to do.»
- It was a problem. I know Olof did not have a lot of time to work with the course.»

15. What did you think about the exams?

- Exams has been good in general. The target costing assignemnt was rather poor examed since we didnt get any knowledge of the academic level of it. For example with have other assignemtn that we have handed in where the academic anchoring hasnt been the most vital and i got the same impression of the target costing, although thsi was apparently not true. »
- The valuation part in the business plan is mostly there because of the VEF-course. I believe that we could have handed in a valuation separated from the BP and thereby make the BP more reality based from a startup point of view.»
- Ok »
- they were good.»
- It was ok. It took up what we had studied at Handels»
- Bra med tentor, men väldigt konstigt när det visar sig att den ena tentan var frivillig.»
- Not enough specific lectures and exercises for us, considering our background, to understand the exams in a desirable way»
- Covered what we have been looking into during lectues - which is not linked to the project and thereby is the exams as bad as the lectures!»
- No comment beside the fact that there were a lot of them.»
- Good»


Part III: Lectures, Exercises and Assignments

16. Simulation/roleplay

- Very good.»
- Realy good! I learned a lot!»
- A great and fun way of displaying the flows in a producing company. »
- Satisfactory»
- Very good. The best part of the whole course»
- Detta var jätte roligt att göra och ett bra sätt att lära sig.»
- I did not learn that much since I got a position with little responsibility.»
- Really good.»
- this was the best part of the course, made me understand how it works.»
- Very good!! keep it!!!»
- I learned extremely much in the short time when we did the simulation.»
- Very good!»
- This was the best part. We have to switch roles though.»

17. Managerial Accounting basics (including exam)

- This was the better of the education. Good teacher that gave interest. »
- These guys were not that good. Bad teachers, they tried to be to matcho instead of focusing and doing a good lecture. We could have just read in the papers. Exchange them is my advise. »
-
- SAtisfactory»
- Very useful for understanding balance sheets and income statements. hte lecturers were very professional»
- Bra del av kursen.»
- Poor»
- Ok..»
- Poor»
- Ok»

18. Corporate Finance

- Pls see question 11 and 13. »
- To far away from startup knowledge. Customize it to sute our education and thereby make it more interesting for the students»
- The relevance of the course is questionable. Would have been better to have five seminars with entrepreneurs and investment people and a handin tied into the project. Make an investment breif or offerning and get feedback on it. »
- Out of my reach and too advanced for beginners.»
- A useful coure to have, but it was spoiled a bit by the uncertainty of which parts we were supposed to study compared to the other students. How it integrated with the rest of VEF was very unclear.»
- Lite rörigt att bara bli avlämpade på handels»
- Poor»
- not good»
- Very bad! (ok if you have personal interest of trading and stock valuation, so for personal interest it was ok. But I still believe that this is NOT a good in this education)»
- Ok, but not really relevant»
- Ok»

19. Product Calculus

- pls see question 15. »
- Quite good exercise»
- It was good. It is hands on and brings the project forward as well as giving some theoretical insight. »
- Good»
- The target costing was difficult to apply to our situation, but it got you thinking»
- Jätte bra med denna uppgift, den hjälpte oss mycket.»
- Not enough »
- good exercise, but it would be good with a more specific lecture before to get information on how we are really going to do it.»
- Very good, if you mean target costing»
- A good excercise as it related directly to the project.»
- Good»

20. Demonstrating yourself in business plans (BR 2 primarily or other situations)

- I think that part of the examination here should have been in seperate examinations since it was a bad forum for exmaning, »
- As stated before, extract the valuation from the BP»
- Ok »
- Satisfactory.»
- Hmmm. As always etremely difficult to know what they actually want to have in these assignments»
- Denna del är svår att ta till sig.»
- Good regarding the background and the help we have got during the year»
- since we had a page limit and not a word limit it was hard to include balance sheet and income statement. »
- Very bad! I believe our BP is very good from a VEF perspective. But if the purpose is to demostrate what you have learned this is not the way to do so!»
- Good. Could need more teaching in accounting.»


Part VI: Course Literature

21. How much of the books have you read?

14 svarande

none»3 21%
half»7 50%
most»4 28%

Genomsnitt: 2.07

- The red book was really good and affordable but the other book was too expensive to buy and to little information on what chapters that were important» (half)

22. What did you think about the books?

- Good. »
-
- It should be given as summer reading as we are short on time when we are expected to read the book adviced.»
- Only had a corporate finance book at it was ok»
- Bra böcker till accounting delen.»
- ok»
- Works for the exam but is not interesting for the CSE education!»


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