Business Studies 2023 HSC exam pack

Students should: 

• read the question carefully to ensure that they do not miss important components of the question
• have a clear understanding of key words in the question and recognise the intent of the question and its requirements
• use the first page of the answer booklet for an extended response to develop a plan to assist in the logical sequencing of information
• engage with what the question is asking rather than presenting a pre-prepared response
• relate to the question throughout the response rather than just at the beginning
• sustain their judgements, where appropriate, throughout the response with a clear connection to the question
• use relevant business terms and concepts, where appropriate, to support their response
• apply relevant business case study/studies and contemporary business issues where appropriate
• present a sustained, logical and cohesive response that addresses the question where appropriate
• review their response to ensure that it addresses the question requirements.

Question 21

In better responses, students were able to:

• address the question by applying operations theory to the stimulus business situations
• provide the positive effects of economies of scale for both the business and consumers (b)
• provide reasons why both staff and management might be resistant to change with reference to the stimulus (c).

Areas for students to improve include:

• addressing the question directly and supporting the response with relevant theory
• ensuring responses referenced the stimulus business situations
• providing how and why staff and management might be resistant to the change referenced in the stimulus (c).

Question 22

In better responses, students were able to:

• address the question by applying human resource theory to the stimulus business situation (b)
• use the information in the stimulus to demonstrate understanding of human resource issues (b)
• provide clear links between relevant social influences and the changes in participation rates provided in the stimulus (c).

Areas for students to improve include:

• providing detail in responses rather than general statements
• showing understanding of issues in human resource management (b)
• ensuring that the relationship between relevant social influences and the data provided is evident (c).

Question 23

In better responses, students were able to:

• provide the features of the post maturity phase of the product life cycle (a)
• show how a niche market approach would specifically improve sales for this business (b)
• provide detailed reasons why a specific global marketing strategy would be useful for the expansion referenced in the stimulus provided (c).

Areas for students to improve include:

• providing specific theory from the marketing topic rather than making general statements
• ensuring responses specifically reference the stimulus business situation
• understanding the difference between the product life cycle and the economic cycle
• directly addressing the specific question and supporting statements with references to the stimulus provided.

Question 24  

In better responses, students were able to:

• demonstrate understanding of the use of specific financial statements (a)
• demonstrate understanding of the conflicts between financial objectives (b)
• demonstrate understanding of the impacts of specific limitations of financial reports and relate these to stakeholders (c).

Areas for students to improve include:

• understanding specific finance theory rather than making general statements
• developing detailed understanding of the features and purpose of each financial statement
• addressing the key words of the question when explaining the impacts of finance.

Question 25

In better responses, students were able to:

• provide an outline of the challenges of global costs, skills and supply and effectively relate these challenges to both recruiting and retaining staff
• make accurate and detailed comparisons between the use of debt and equity  
• identify a specific and appropriate source of finance and provide comprehensive reasons in favour of using this source of finance to fund the business’s expansion
• structure the response using appropriate business report features and apply relevant terminology and concepts.

Areas for students to improve include:

• improving the structure of the business report when outlining the challenges of global costs, skills and supply and relating these to retaining staff
• addressing the term ‘compare’, rather than only providing a description or outline or debt and equity finance
• identifying a specific source of finance rather than referring to debt and equity generally
• applying the hypothetical business situation more effectively to the challenges of global costs, skills and supply.

Question 26

In better responses, students were able to:

• engage with the question by providing a clear and detailed judgement
• demonstrate understanding of how marketing influences can impact business success both negatively and positively
• identify syllabus specific influences and apply these to business case studies.

Areas for students to improve include:

• demonstrating better knowledge and understanding of the marketing influences
• understanding how to make a judgement regarding business success
• applying relevant and detailed case studies information consistently throughout the response.

Question 27

In better responses, students were able to:

• provide a clear and detailed judgement by showing how influences on operations impact business success
• apply case studies to inform their judgement on operational influences that affect business success
• provide logical, structured and comprehensive arguments using business terminology and concepts.

Areas for students to improve include:

• using relevant business terminology that effectively conveys a clear and informed judgement relating to influences on operations and business success
• structuring a response that addresses key components of the question and in particular, business success.
• applying relevant and detailed case study(s) information consistently throughout the response.