The SPHINX Teaching Method and Its Application to a

The SPHINX Teaching Method and Its Application to a Business Finance Course Ivy Locke and Sonja Ebron^

This paper introduces a cooperative leaming approach that ensures student preparation for class participation. Using a scribing technique (employed by ancient Egyptian scholars) to supplement lectures and cases, students in an undergraduate class in business finance demonstrated improved performance versus students in an otherwise identical class using only lectures and cases. The Scribe's Programfor Heliacal INformation exchange (SPHINX) reconciles contemporary and ancient pedagogy via a flexible program, which is adaptable for different subjects and teaching styles. The paper compares the passive and cooperative teaching methods, then provides statistical comparisons of student performance with and without the SPHINX.fJEL: A20, A22, A29]

• Since the dawn of time, caring teachers have sought ways to stimulate active learning in their students. This paper identifies a collection of student-empowering options that a teacher can choose from depending on the course and teaching style. The next section describes ancient Egyptian pedagogy. It is followed by a comparison of lecturing to cooperative learning methods and a description of the case method. Section IV describes the Scribe's Program for Heliacal INformation exchange (SPHINX) method introduced herein. Sections V and VI recount and evaluate the application of the SPHINX teaching method in a business finance course. Conclusions appear in Section VII. Ivy Locke is an Assistant Professor at Florida State University, Tallahassee, FL 32306. Sonja Ebron is an Assistant Professor at Norfolk State University, Norfolk, VA 23504. The authors thank Asa Hilliard, Calloway Professor of Education at Georgia State University, and Israel Tribble, Jr., President of the Florida Education Fund, for the inspiration to initiate this teaching approach. We are also grateful to the Editor, Raj Aggarwal; Adai Ibrahim; and two anonymous referees for comments and suggestions that greatly improved this paper. We thank Daryl O'Cain for valuable graduate assistance. Special appreciation is extended to our students for their patience and enthusiasm in regard to experimental teaching. Any remaining errors are our own.

I. Ancient Egyptian Pedagogy Hilliard (1995) notes that in ancient Egypt, aspiring students were required to work as scribes copying numerous volumes of literature to earn the right to address a professor. Initially, scribes probably did not fully understand what they were copying, but gradually they came to comprehend. Advanced technical ideas and skills would be taught only after a rigorous program of study had been mastered because it would mean little to give knowledge to an unprepared learner who would not understand it. Once the interactions with experienced scholars were permitted, student transcribing continued, supplementing lectures or assignments and maintaining the benefits of ongoing contact with the literature. In so doing, the students not only duplicated books for library circulation, but they also learned. Unlike modern schools, the learning environment of ancient scribes was in religious institutions. Professors were priests and students studied in a religious-based educational system, which conveyed traditional values (Hilliard, 1995). The process taught discipline, faith, and assertiveness. The ritual of scribing projected the value of responsibility for self-education onto students. There was no grading. Regardless of the chosen discipline, ancient Egyptian students used

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LOCKE & EBRON—THE SPHINX TEACHING METHOD AND ITS APPLICATION

technology to learn the essential nature of themselves, tools for their survival and their place in the natural and social orders. This view contrasts with modern uses of technology for personal gains in wealth and power. After the invasion of Alexander the Great, Egyptian pedagogy was succeeded by Greek Hellenistic educational systems of the University of Alexandria. There the Ptolemaic system evolved (Knight, 1940; Castle, 1961). This paper focuses on the ancient teaching methods of the Egyptians and leaves the intervening Greek pedagogical system to others. Interactive pedagogy lost favor in the 18O0's according to Kellar, Jennings, Sink, and Mundy (1995), when the "lecture and test" technique developed out of the philosophy that the brain was a slate waiting to be filled. This paper provides evidence that effective parts of ancient pedagogy were ignored.

II. Lecturing Versus Cooperative Learning Comparing ancient pedagogy with modern teaching methods reveals common and divergent features. In the lecture note-taking (LNT) method of most contemporary institutions, the teacher is in the center of the learning process where students sporadically attend classes with minimal preparation. The teacher does the bulk of the advance preparation and in-class work. Students usually take notes without serious efforts to learn the material until a few days before an examination. The LNT method promotes passive learning reinforced by punitive grading. Rosenthal (1990) suggests that passive students lack the confidence to be assertive, ask questions or work independently. It appears that LNT teaching encourages student irresponsibility. Daley (1994) akins the LNT method to the haphazard approach of casting grain to the winds with the hope that it will land on fertile soil. Hilliard (1995) quotes the Paulo Friere suggestion that the mind is at stake when we promote passive learning. Friere (1993) argues that the primary defense of the mind is for it to struggle continuously for critical consciousness. Friere reports that active learning allows the student an experience, which increases perceptual capacity. Smith (1995) reviews nearly 700 studies over 90 years that compare cooperative, competitive, and individualistic learning efforts. The overwhelming consensus is that active learning in cooperative groups will result in more learning, better understanding, better retention, and better feelings about themselves, the class and their classmates. Smith (1995) also reports higher achievement and greater productivity when

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there is cooperation among students. In addition. Smith (1995) identifies five essential components for small group learning—positive interdependence, promotion of mutual learning, individual accountability, instruction for teamwork skills, and group maintenance and feedback. Maier and Keenan (1994) add that group assignments must incorporate well-defined outcomes and clearly delineated roles. Although a group size of four is recommended, another approach is effective in large classes. Maier and Keenan (1994) find that even five minutes of cooperative learning dramatically changes the classroom dynamics. They allow time for students to consider questions posed by the instructor and compare their answers with at least one other student. Daley (1994) surveys 769 undergraduate and graduate programs in social science and business administration and reports that critical, analytical, and integrative thinking can be developed and refined through interactive methods particularly when combined with written and oral student presentations. He identifies case studies and role playing as ways to present students with learning experiences that cognitively anchor their lessons. Kellar, Jennings, Sink, and Mundy (1995) agree that interactive learning holds great potential for improving business education. Based on their study at the University of Tennessee, students who participated in active learning classes were compared to non-participants. They found that active learning participants were more satisfied, had higher levels of comprehension, and performed better in subsequent courses. Rosenthal (1990) affirms that rather than trying to control our students' learning, we must instead guide and facilitate. She identifies the trap that teachers fall into by believing students are less capable, which further confines them to passive roles. The cooperative learning scenarios that Smith (1995) describes are still teacher-centered and therefore do not resolve some of the passivity problems associated with LNT. Once such cooperative learning approach is the case method.

III. The Case Analysis Method Spizizen and Hart (1985) report that the case method dates back to the time of Socrates who used questions rather than statements to lead students through the reasoning process. The case method was introduced to business education by the Harvard Business School in 1908, when business textbooks did not exist. They relied on discussions led by managers of real-world business problems. This approach allows the students to actively discover the solution using the "Aha!" principle—that which is discovered for oneself is

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learned, understood, and remembered better than that which is told. Carlson and Schodt (1995) define the contemporary case method as using narrative accounts of actual, or realistic situations. They report student survey results that cases make classes interesting, link theory to practice and develop listening skills and problemsolving expertise. This dynamic approach supplies students with information for their analysis and their own decisions. Ejigiri and Tarver (1994) demonstrate how case analysis offers a systematic approach that develops analysis, synthesis and evaluation abilities. Carlson and Schodt (1995) reveal some ofthe limitations ofthe case method. However, they support the use of written case assignments because of the opportunity to examine data, make calculations and apply the theoretical concepts. But, they warn that sequential coverage of topics cannot be sustained in the circular process of the case method. They acknowledge that certain theories and models are more efficiently disclosed directly to the student. Yet, the degree to which theory is emphasized will be greater at graduate levels than at undergraduate levels. Ejigiri and Tarver (1994) recount Bloom's Taxonomy suggesting that rote learning is the first order of cognitive intellectual development upon which the success of the case method depends. Teachers face the challenge of coordinating student efforts to accomplish the first order cognitive development for each class member simultaneously. This paper introduces a novel approach to cooperative learning—the SPHINX—as a way to reconcile modern and ancient pedagogy. The SPHINX is a fiexible teaching program that uses interactive learning techniques and keeps each student on the same page at the same time throughout the course.

IV. The SPHINX Teaching Method The SPHINX teaching method makes the student responsible for learning. Within a narrowly defined curriculum with broadly defined applications and cooperative methodologies, students perform the tasks of enforced daily class preparation, attendance and participation. The teacher using the SPHINX method communicates structure, creates a supportive environment, and provides timely feedback. Although the teacher establishes the framework of the curriculum, the cooperative nature of the SPHINX methodfiourisheswhen students are allowed to expand or modify course topics. The teacher combines fiexibility with an unyielding intent that is dynamic enough to accommodate the quicker pace at which SPHINX students grasp subjects. As with any novel approach, the discomfort of a different technique may

initially inhibit the students as they become accustomed to the transcribing exercises. The teacher must be firm amidst student protests and complaints, while awaiting their inevitable compliance and enlightenment. There is a greater need in SPHINX courses for the teacher to be an authority in the subject, to be more confident with the material and with being challenged by students. Therefore, SPHINX could be difficult if teaching a course for the first time. The SPHINX requires the student to play a consistently active role in class. The "heliacal" feature of the SPHINX teaching method is borrowed from astronomy. Tver (1979) describes the heliacal as the first rising of a star after invisibility due to proximity to the sun, or the last setting preceding its proximity to the sun. The analog in the classroom is the dampening of the students' innate radiance (small stars) due to the proximity ofthe brilliant glow ofthe teacher (the big star or sun). The exchange of information is multi-directional proceeding from teacher to student, from student to student, and from student to teacher. The SPHINX teaching method has some similarities to the LNT and case methods. Generally, the class looks conventional in that students and teacher meet regularly at a designated time and place. Grades are assigned based on homework, participation, and exams. Since the template of the course design has components similar to LNT and case class syllabi, the method can be easily incorporated into many courses. The biggest differences between conventional and SPHINX teaching styles are in the nature of the homework and the roles students and teachers play. The SPHINX teaching method puts the student in the center of the learning process while the teacher's efforts are diffuse, decentralized, and de-emphasized. The teacher is in the background motivating student preparedness, laying ground rules, facilitating the discussion, grading papers and designing homework, group projects, and exams. In large sections—Kellar, et al., (1995) suggest that for a class of over 40 students, a teaching assistant may be needed to relieve the grading burden and maintain the flow of timely feedback for numerous assignments. SPHINX teachers hand the responsibility for learning over to the student in a ritualistic manner to form the habit of steady class preparation. In essence, the SPHINX approach makes the students do what they should be doing anyway. Graded daily homework supports the mandatory class preparation and participation by students in a SPHINX class. Because of the frequency of assignments, grading in a SPHINX class necessarily assigns higher weights to homework than in a typical LNT class. The homework in a SPHINX class involves

LOCKE & EBRON—THE SPHINX TEACHING METHOD AND ITS APPLICATION

transcription of sections of the text book, including problem solving examples. The act of transcribing is relatively active when contrasted with the passive exercises of reading a textbook or listening to a lecture. In a SPHINX class, lecturing is minimal and class participation is emphasized through both group and individual problem-solving. Because of timely coverage of class material, students attending class receive reinforcement rather than introduction to the course material. With preparation, monitoring, feedback and support, they gain confidence to participate actively in class. Because of increased visibility and camaraderie, students motivate each other by peer pressure. Students are eager and able to articulately participate in interactive discussions that promote cooperative learning inside and outside of class. Because of the daily homework requirement and the class participation component, the chances of falling behind in a SPHINX class are minimized. In addition to vigorous student interaction (rare in lecture courses), student interest in and commitment to the course escalates. Transcribing assignments arm students with basic concepts transferred from pen to brain, and class time explores more expansive applications. Although rooted in tradition, SPHINX can be incorporated in contemporary courses without difficulty. An example of an application of SPHINX to a business finance case class is discussed and evaluated in the following sections.

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transcribing assignments was Analysis for Financial Management by Robert C. Higgins, 1995. The case book used for written and in-class analysis was Cases in Financial Management by Sulock and Dunkelberg, 1992. Characteristics of the course are itemized in Exhibit 1. For the control group of 223 students, the classes were taught using the case method (supplemented by lectures) in eight sections with average enrollment of 27.88. The control group met over 15 weeks with 75minute sessions meeting twice weekly. The SPHINX test sample (22 students) was taught over six weeks (meeting for 80 minutes five times per week). Students in the SPHINX class were required to do individual homework (20%) of problems and transcriptions. For both the control group and the test sample, students participated in group case work (25%), participated in class both individually (15%), and took two individual exams. For the control group, exams were weighted 30% each and for the SPHINX test sample class only 20% each. Imitating the ancient Egyptian tradition of no grading, the SPHINX course design reduced the grade pressure by having a large portion (60%) of the learning and evaluation come from participation, attendance, open-book and group work. The homework included transcribing fundamental concepts from the textbook and writing out solutions to selected end of chapter problems for submission at the beginning of each class. The textbook had good summaries of theories that students had been exposed to in introductory courses. The transcribing reinforced V. Application to a Business Finance the prerequisite material. Late homework received only Course 50% credit. Each student joined a group of their own choosing. Many groups chose the optional-butIn Summer 1995, the SPHINX method was sanctioned practice to work together to prepare implemented in a case course entitled "Problems in individual homework assignments. Groups were Financial Management" at Florida State University for required to prepare written and oral presentations of senior undergraduate finance majors using case case analyses. analysis and student presentations. Students worked The cases addressed common problems financial within provided guidelines to produce well-written, managers face. Cases varied each semester, covering professional reports, articulate analytical discussions, accounting fundamentals, ratio analysis, forecasting, and superior midterm examination performance. Their break-even analysis, economic order quantity, interests and in-class experiences encompassed global financing and equipment replacement decisions, cost applications of financial theory. of capital analysis, and business valuation methods. The finance course design for the SPHINX Each group was assigned two cases—one as the implementation is elaborate, but flexible. The course presenting group and another as the critiquing group. was taught over four semesters from 1992 through 1994, This format allowed students to give and receive prior to the development of SPHINX. During Summer feedback. Approximately every third day of the class, 1995, it was taught employing SPHINX methods. The there was a group case presentation. class schedule included the topics of interpreting To encourage participation by all group members, financial statements, evaluating financial performance, the teacher called on members of the class not financial forecasting, managing growth, financial assigned the case for feedback after the presentation instruments and markets, the financing decision, and critique. Subsequently, the assigned groups discounted cash flow techniques, risk analysis in debated their similarities and differences. investment decisions, and business valuation and In instructions for the final week of the SPHINX corporate restructuring. The textbook used for class, the students were empowered to choose "special

FINANCIAL PRACTICE AND EDUCATION — SPRING / SUMMER 1998

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Exhibit 1. Comparison of Controi Groups to SPHINX Test Sample In this exhibit, both the control group and the test sample classes were conducted by the same professor, for the same course, at the same school. Control Groups

Test Sample

Various 1992-1994 Lectures/Cases

Summer 1995 Lectures/Cases Plus SPHINX

75 Minutes

80 Minutes

Twice Weekly

MTWTF

15 Weeks

Six Weeks

Exams

60%

40%

Group Case Work

25%

25%

SPHINX Homework

0%

20%

Participation

10%

10%

Attendance

5%

5%

None

Daily Preparedness

Date Course Format Class Meeting Duration Class Meeting Frequency Term Length Grading

Student Empowerment

Student-Generated Case on International Topic topics" that related to the course. They chose to research intertiational finance topics. Working in groups, they chose a country, prepared a paper, and presented the group's research. For the last three days of class, each student was a local expert who introduced the class to the group's topic. This exposure to etnpowerment, curriculum participation, lihrary research, and the articulation of global issues was among the many favorable results students derived from the SPHINX implementation in a finance course. With student empowerment came the mastery of larger volumes of material at higher levels of difficulty. In the SPHINX course, the teacher observed better midterm test grades with the same course (for four semesters) using lectures to supplement the cases. Grade distributions are analyzed in more detail in the section that follows.

VI. Methodology and Results of Statistical Evaluation Appropriate data was maintained for statistical evaluation of the application of the SPHINX method to a business finance course. Using grade distributions for four semesters where the SPHINX method was not employed as a control group and the same data for the SPHINX pilot course, we analyzed student performance. All five semesters evaluated are for the same course using the case analysis method with student presentations. The SPHINX course employed

the additional homework of scribing and problem solving. Simple statistics for each course are reported in Exhibit 2 including the number of students completing course requirements, the mean, standard deviation, maximum, minimum, and relative skewness for the midterm and final examinations. Although there were other components of the course grades, we focus on the midterm and final examinations because they refiect individual performance under testing conditions. All other assignments were either homework or group assignments and were not analyzed statistically. Unreported t-statistics were calculated taking midterm and final grade distributions two semesters at a time to test for standardized differences between means of the midterms and finals. These tests were non-conclusive because the measures of individual student performance appeared random even among the distributions that were expected to be homogeneous (the control group). The most compelling student performance evidence is among the simple statistics that reveal the midterm of the test sample with the highest minimum score and the most positive skewness of any midterm distribution evaluated. Refer to the last column of Exhibit 2. It appears that the bottom end of the distribution was pulled up because of the required student preparedness of the SPHINX method. This was a rare outcome for a course of this difficulty. It is compelling that the SPHINX teaching method reached down to those students who might not otherwise succeed on the midterm exam and pulls them up to a higher performance level. Early learning also

LOCKE & EBRON—THE SPHINX TEACHING METHOD AND ITS APPLICATION

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Exhibit 2. Simpie Statistics for Five Semesters This exhibit reports simple statistics for the five semesters evaluated herein. Fall 1992 through Spring 1994 represent the control group. Summer 1995 is the test sample. The distributions for Fall 1992 through Spring 1994 were compiled aggregating two sections. The control group section sizes ranged from 14 to 31 with an average of 27.88 students, which is similar to the class size of the section in the Summer 1995 test sample. Positive skewness is viewed as a favorable outcome because fewer students have a failing score. Fall 1992

Spring 1993

Fall 1993

Spring 1994

Summer 1995

No. of Students Completing Requirements

Two Sections

Two Sections

Two Sections

Two Sections

One Section

Midterm Mean

82.44

69.84

76.01

76.70

75.90

Midterm Std. Dev.

12.90

11.60

13.53

10.34

10.60

Midterm Max.

101.25

91.25

100.00

95.00

98.50

Midterm Min.

46.25

35.00

45.00

55.00

61.50

Midterm Relative Skewness

-0.8085

-0.7427

-0.0008

-0.2111

Final Mean

84.24

78.67

84.97

73.98

70.20

9.51

14.11

9.73

10.70

11.90

Final Max.

100.00

96.25

103.00

97.00

92.00

Final Min.

63.75

43.75

61.00

52.00

45.33

Final Relative Skewness

-0.1817

-2.9999

-0.3851

Final Std. Dev.

59

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facilitated learning and articulation skill development that was apparent in class presentations. This effect eliminated the late semester crisis that students often experience before thefinalexam. The negative skewness for the final exam scores has two possible explanations. Ignoring the human element, one might use this statistic to conclude that the SPHINX system has no advantage over the case analysis format. However, it is a known reality that some students with a good average going into the final exam will perform at a lower skill level because of student apathy. If they only need a low score to get a high grade then they may optimize with less effort in final exam preparation. Regrettably, it does not appear that this syndrome can be experimentally controlled.

61

41

0.0319

21

0.3985

-0.2916

method provides rewarding experiences for teacher and students with minimal adjustments to course format. Because transcriptions of assigned portions of the text are enforced prerequisites for class participation, more material can be covered in a SPHINX class. Virtually no time is spent introducing theories and defining terms or variables. Long lectures are unnecessary. Since the fundamental topics have been learned, students ask more informed, innovative, and constructive questions. Considering the statistical analysis herein, there is evidence that the SPHINX course format resulted in better student performance. The authors that have employed this method report a more rewarding teaching experience and encourage our colleagues to try SPHINX approaches with normed exams and with more factors controlled for improved isolation and measurement of effects. As with ancient Egyptian pedagogy, serving time as Vll. Conclusions a scribe precedes interaction with the teacher. SPHINX The SPHINX method uses an ancient student- leaves class time for analysis, clarification and centered teaching approach that is less punitive than incorporation of student interests that emit from traditional LNT or case methods. Transcribing as a exhilarating group discussions. Based on this pilot of prerequisite to class participation prepares students the SPHINX teaching method in a modern university for in-class interaction with the teacher and other setting, it appears that ancient pedagogy has lasted in students. With favorable results in a business finance time and potency as has the Sphinx and the Great course for senior undergraduate finance majors, this Pyramids of Giza. •

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References Carlson, John A. and David W. Schodt, 1995, "Beyond the Lecture: Case Teaching and the Learning of Economic Theory," Journal of Economic Education 26 (No. 1, Winter), 17-28. Castle, E.B., 1961, Ancient Education and Today, Baltimore, MD, Penguin, 58-60. Daley, Dennis, 1994, "How Public and Business Administration Programs Plant the Seed of Learning," Review of Public Personnel Administration 14 (No. 4, Fall), 39-51. Enjigiri, Damien, and Leon Tarver, 1994, "In Support of the Case Method of Teaching for Excellence and Training in the Public Sector," Education 115 (No. 1, Fall), 46-49. Friere, Paulo, 1983, "The Importance of the Act of Reading," Journal of Education 165 (No. 1, Winter), 5-11.

Knight, Edgar W., 1940, Twenty Centuries of Education, Boston, Ginn and Company, 66-68. Maier, Mark H. and Diane Keenan, 1994, "Teaching Tools: Cooperative Learning in Economics," Economic Inquiry 32 (No. 2, April), 358-361. Rosenthal, Nadine, 1990, "Active Learning/Empowered Learning," Adult Learning 1 (No. 5, February), 16-19. Smith, Karl A., 1995, "Cooperative Learning: Effective Teamwork for Engineering Classrooms," IEEE Education Society Newsletter (April), 1-6. Spizizen, Gary and Christopher W. L. Hart, 1985, "Active Learning and the Case Method: Theory and Practice," Cornell Hotel and Restaurant Administration Quarterly 26 (No. 2, August), 63-66.

Higgins, Robert C, 1995, Analysis for Financial Management, Sulock, Joseph M. and John S. Dunkelberg, 1992, Cases in Financial Management, New York, NY, John Wiley & United States, Richard D. Irwin, Inc. Sons, Inc. Hilliard, Asa G., 1995, The Maroon Within Us: Selected Essays on African American Community Socialization, Baltimore, Tver, David, 1979, Dictionary of Astronomy, Space and Atmospheric Phenomena, New York, NY, Reinhold. MD, Black Classic Press. Kellar, Gregory M., Barton E. Jennings, Harry L. Sink, and Ray A. Mundy, 1995, "Teaching Transportation with an Interactive Method," Journal of Business Logistics 16 (No.l), 251-279.