EPSM unit 6 syllabus

This unit is about encouraging open-mindedness and innovative thinking. It provides you with the skills to be able to suggest imaginative solutions to problems to create competitive advantage within the context of suitability, feasibility and acceptability. It also covers the limitations of some solutions and the potential problems with their implementation. The unit concludes with a consideration of professional scepticism and the importance of applying an enquiring mind when collecting and assessing data and information.

Section 1: Unit overview

a) Introduction

Section 2: Innovation

a) Innovation

Section 3: Linear thinking

a) Introduction

b) Rules of thumb in linear thinking

c) Systematic thinking

d) Systematic thinking quiz

Section 4: Lateral thinking

a) Lateral thinking

b) Summary

c) Numbers activity

Section 5: The four P’s of innovation

a) The four P’s of innovation

b) The four P’s and the accountancy profession quiz

Section 6: Great innovators

a) Great innovators

Section 7: Innovation and competitive advantage

a) Competitive advantage

b) Benefits of being a fast second

c Pre-requisites for being a fast second

Section 8: Promoting creativity in the workplace

a) Introduction

b) Workplace innovation

c) Momentum vs inertia

d) Groupthink

e) Promoting creativity in the workplace activity

f) Some contemporary thoughts on creativity and proactivity at work

Section 9: Professional scepticism and how to demonstrate it

a) Introduction

b) What do we mean by scepticism activity

c) Email activity

Section 10: The importance of scepticism as an attitude

a) Why is scepticism important?

b) Scepticism continuum

c) Scepticism in practice

d) Investment decision activity

e) Last day of audit activity

f) Skills relevant to scepticism

g) Understanding the link between scepticism and risk

h) Best practice

Section 11: Unit summary