Business Studies 2018 HSC exam pack

Question 21

In better responses, students were able to:

• demonstrate an understanding of two transformation processes by providing characteristics and features of both, using relevant key words and terminology (a)
• demonstrate an understanding of two relevant quality management strategies by providing characteristics and features of each strategy using key words and terminology (b)
• provide clear reasons in favour of the stated strategies related to the stimulus business (b).

Areas for students to improve include:

• using specific business studies terminology in describing the transformation processes (a)
• using specific business studies terminology in describing the quality management strategies (b)
• relating their recommendations for the issues being experienced by the stimulus business (b).

Question 22

In better responses, students were able to:

• provide the strategic role of human resources and refer to the stimulus business (a)
• identify a specific leadership style and show by example the effects of this style on employee performance (b)
• identify and provide features of a specific human resource process, and link this to improving the business’s culture (c).

Areas for students to improve include:

• referring to the particular stimulus business or the strategic role of human resources (a)
• identifying a particular leadership style (b)
• reliance only on the stimulus information and little addition of new information (b)
• referring to a human resource process (c).

Question 23

In better responses, students were able to:

• identify a threat to the business (a)
• demonstrate an understanding of monitoring and controlling by providing characteristics and features of this component of the marketing process (b)
• link the action of monitoring and controlling due to the business expansion to an element of the marketing process (b)
• acknowledge the original position of the situational analysis and the changed position as a result of the business expansion (c)
• consistently refer to the changing components of the situational analysis as a result of the expansion (c).

Areas for students to improve include:

• providing features of monitoring and controlling, and relating them to the changed situational analysis (b)
• providing features of a changing situational analysis using business terminology with application to the stimulus (c).

Question 24

In better responses, students were able to:

• demonstrate what liquidity is and why it is an objective of financial management (a)
• demonstrate the ways a relevant strategy could improve the management of the accounts receivable turnover (b)
• provide clear and detailed advantages and disadvantages of using both leasing and mortgages (c).

Areas for students to improve include:

• providing reasons why liquidity is an objective – not just defining what liquidity is (a)
• focusing on the ways a business could improve the accounts receivable turnover rather than providing characteristics and features of a strategy (b)
• providing more than just a description of leasing and mortgages (c).

Question 25

In better responses, students were able to:

• interpret and apply the stimulus material to make actual connections to the type of business (retail fast food) across the three sections of the question
• link the human resources section to the stimulus “maintaining its record as an excellent employer” rather than making general references to efficiency, sales and profits
• clearly show an understanding of relevant syllabus content in all components of the question, particularly the role of operations and corporate social responsibility, as most students were able to write about three human resource management strategies.

Areas for students to improve include:

• demonstrating knowledge of the syllabus content to effectively answer the first two parts of the question rather than providing general statements
• addressing the question directly. For example, addressing the “why” in the corporate social responsibility section as well as giving reasons in favour of relevant human resources strategies.

Question 26

In better responses, students were able to:

• use specific Business Studies terminology throughout the response
• integrate a case study and use relevant statistical data and examples from it to explain the relationship between global markets and financial management
• demonstrate an understanding of global influences on business and make explicit links between these influences and their impact on financial management.

Areas for students to improve include:

• answering the question specifically and not including extraneous information
• understanding and addressing the key terms of the question directly
• distinguishing between domestic and global influences and between interest rates and exchange rates.

Question 27

In better responses, students were able to:

• use specific Business Studies terminology consistently throughout the response
• demonstrate knowledge of a variety of relevant global influences and directly relate these to the interaction of price and quality
• integrate one or more case studies throughout the response using relevant and contemporary examples.

Areas for students to improve include:

• answering the question specifically rather than including irrelevant syllabus and case study information
• understanding and addressing the key terms of the question directly
• understanding the interaction of price and quality rather than treating them separately
• distinguishing between cost (of production) and price.