Business Studies 2016 HSC exam pack

Questions 21–24

Candidates showed strength in these areas:

• identifying how objectives such as liquidity and solvency may conflict (Q21)
• providing points for and against using sources of finance, such as retained profits and overdraft, to purchase stock (Q21)
• interpreting information (Q22)
• identifying promotional strategies, aimed at a target market or a distribution method, to deal with a large and increasing demand (Q22)
• understanding outsourcing in general and potential disadvantages (Q23)
• understanding the value of cultural competence for a business (Q23)
• applying an appropriate inventory system that relates to the scenario (Q24)
• applying the concept of corporate responsibility to operations management (Q24)
• understanding how cost and quality, as operations management objectives, affect a specific business (Q25).

Candidates need to improve in these areas:

• understanding the costs of different sources of finance and applying this understanding to the scenario (Q21)
• recommending promotional strategies that are aimed at the characteristics of the target market (Q22)
• identifying physical distribution issues (Q22).

Question 26

Candidates showed strength in these areas:

• making an effective judgement about how a pricing strategy could be applied to an identified small business
• engaging with the stimulus material to recommend appropriate strategies, particularly in the area of working capital management, such as factoring the accounts receivable, discounts for early payments and sale and leaseback
• integrating a range of business terms and concepts
• structuring a response as a business report.

Candidates need to improve in these areas:

• demonstrating understanding of the limitations of financial reports
• interpreting financial data
• identifying parts of the stimulus that can be best applied to the question, for example, identifying the large goodwill figure as a limitation to this financial report
• providing a balanced response which addresses each part of the question in appropriate detail
• applying appropriate working capital management strategies to the question rather than providing general statements about working capital management.

Question 27

Candidates showed strength in these areas:

• referring to a variety of influences and/or strategies
• integrating a range of business terminology and concepts in relation to operations management
• evaluating the response of operations management to external influences
• demonstrating a depth of understanding in relation to globalisation, technology and outsourcing.

Candidates need to improve in these areas:

• providing a well-reasoned and detailed judgement
• integrating case studies rather than making a tokenistic reference to a business
• linking a case study to operations management rather than other topic areas, such as marketing
• demonstrating in-depth links between environmental sustainability, corporate social responsibility and the responses of operations management.

Question 28

Candidates showed strength in these areas:

• applying a case study
• providing specific and accurate legal content, including relevant legislation which linked appropriately to a case study
• using business terminology in relation to human resources processes and/or strategies.

Candidates need to improve in these areas:

• linking human resource management to ethical and legal influences
• providing a well-supported judgement, linked to criteria
• providing a balanced response which addresses each part of the question in appropriate detail; the information provided on legal influences was often much stronger than the information provided on ethical influences
• including ethical influences specifically related to the Human Resources topic, in particular corporate social responsibility in relation to marketing and operations.