The Culture of Learning
The corporate world is a different environment than the academic world. Admitting one is not on top of, even controlling, important aspects of corporate business is an unacceptable practice in a board room. Therefore, to confess to areas that are not components of personal mastery can be deadly.
Managers who have been in the field any length of time may not be sufficiently familiar with the capabilities of Excel to make optimal use of its functionalities. Prior to undertaking a program to pursue executive training, managers who are refreshed with basic algebraic skills and the capabilities of Excel will be prepared to develop a richer understanding from their more advanced work.
The primary foci of this text are (1) to refresh fundamental mathematical operations that broadly support statistical and financial equations and formulas, (2) to introduce work with equations and formulas in Excel spreadsheets, (3) to expand statistical and financial analysis with the programmed Excel functions readily available through the “Insert Function” toolbar button and the more advanced Data Analysis Toolpak, (4) to facilitate graphic representations of data, and finally (5) to enhance understanding of the application of Excel spreadsheets in mathematical models.
As authors, we have considerable experience teaching courses in business statistics and applied mathematics for business and management. Often we find students struggle with these more advanced topics because of underlying weaknesses in basic mathematical operations and algebraic thinking. Attention to algorithmic detail is essential in constructing, using, and interpreting the results from mathematical modeling. Our intent in writing this book is to provide a supplement that develops mathematical expertise while learning and applying that expertise in real-world situations.
In picking up this book, you begin a different journey, a journey of learning, development, and expansion. Learning is a constructive activity. Learning can be exciting as new ideas forge connections to long-held understandings. Sometimes old ideas have to fall for new ideas to find fertile ground. Learning new things can take you into new territory, which can be a humbling experience. Learning is hard work. But the learning process can be made easier by recognizing the insecurity it can easily muster along this path. Monitoring the emotional character of learning can be helpful along the journey.