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Innovating Finance Education with LEGO® Serious Play®

In today’s rapidly evolving educational landscape, the need for innovative teaching approaches has never been greater. On 23rd October, we took a bold step forward with a LEGO® Serious Play® (LSP) session during a typical tutorial on working capital management, transforming theoretical financial concepts into an engaging, hands-on experience. This session, conducted in collaboration with Associate Professor Elaine Chew from RMIT Vietnam, a certified LEGO Serious Play trainer, with the support of Dr Liew Yit Wey and Mr Rafferty Hoo, exemplified how creativity and collaboration can redefine teaching and learning.

A New Approach to Finance Education

At the heart of this session was the LEGO Serious Play methodology, expertly facilitated by Associate Professor Elaine Chew. Her experience brought depth to the session, ensuring that participants fully embraced the methodology’s potential. Using LEGO bricks, students visualised finance concepts such as inventory management, receivables, payables, and cash flow cycles. This tangible and interactive approach demystified these components, making the session accessible and enjoyable for all participants.

Students were tasked with building models to represent real-world working capital cycles based on specific business scenarios. For example:
•    Inventory management: LEGO stacks illustrated raw materials, work-in-progress, and finished goods.
•    Receivables: Pathways represented the time taken to collect payments from customers.
•    Payables: Structured LEGO walls visualised supplier payment terms and delays.
•    Cash Flow: Connections between elements demonstrated how cash moves through a business.

This hands-on model-building activity bridged the gap between theory and practice, engaging students in active learning while fostering critical thinking and problem-solving skills.

Illuminating Innovative Approaches to Teaching Technical Subjects

The tutorial session also attracted curious faculty members who observed the session. By incorporating LEGO Serious Play and leveraging the guidance of Associate Professor Elaine Chew, the session demonstrated how experiential learning can transform classroom dynamics.

This session resulted in several key outcomes. Students demonstrated enhanced engagement, showing greater involvement, eagerness to contribute, and enthusiasm when presenting their creations. The open-ended nature of LEGO encouraged creativity, allowing participants to explore multiple solutions to working capital challenges. Additionally, the session fostered collaboration, as teams worked together to analyse scenarios, build models, and refine their strategies based on iterative feedback.

The session highlighted the value of active learning methodologies and encouraged faculty to consider adopting similar innovative approaches in their own courses.

Flexible and Inclusive Learning

The session was thoughtfully designed to cater to a wide range of learning styles and needs. Visual learners benefited from the tangible LEGO models, which simplified complex financial jargon and concepts by presenting them in an accessible and easily understood format. Kinaesthetic learners engaged with the hands-on construction process, making the learning experience both physical and interactive. Collaborative learners thrived in the team-based format, where they could share ideas, work together, and build solutions collectively. This flexibility ensured an inclusive learning environment, allowing every participant to connect with the material in a meaningful way.

Takeaways and Future Directions

The success of the session has inspired plans for future classes that incorporate experiential and constructivist learning and creative methodologies. By continuing to explore these innovative teaching approaches, we aim to develop a curriculum that equips students with the skills to navigate the complexities of modern finance while making learning an engaging and enriching experience.

This LEGO Serious Play session has set a high standard for teaching innovation, and with the expertise of collaborators like Associate Professor Elaine Chew, we look forward to creating more transformative learning opportunities. Together, we’re building the future of education – one LEGO brick at a time!

FIN2014 Financial Management is a second-year subject led by Dr Lianne Lee and supported by Dr Liew Yit Wey. Special thanks to Mr Rafferty Hoo for arranging this opportunity.

Dr Lianne Lee Mei Quin
ºìÐÓÊÓƵ Business School
Email: @email