HSC 2015-2016 Business Studies Marathon (archive) (3 Viewers)

[Flop21]

Re: 2015 Business Studies Marathon

I'd probably just say a terrorist group, It's not worth the chance of getting flagged.

Yeah, was actually thinking about forgetting about it. But it's a pretty good case study IMO, pretty significant for a company's product to be widely associated with a terrorist group... talking about Toyota if anyone's wondering.

 

[BLIT2014]

Re: 2015 Business Studies Marathon

Differentiate between legal compliance and having ethical business practices.

1) Ethical business practices involves making decision which aren’t just legally correct but morally correct as well. This includes areas such as supporting charities or local community organisation, consulting the community prior to implement significant changes to business and promoting Human and Civil rights in Australia and overseas.
2) Legal compliance – is where a business is required to comply with international and domestic laws which are applicable to the business; which may include areas such as wages, occupational health and safety and laws surrounding handling of food such as dairy.

 

[nerdasdasd]

2015 Business Studies Marathon

Something I made up that is slightly out of the box but tests relevant content.

Q: Following the voltswagen emissions scandal of 2015 (... Google it....), which influences on operations and marketing were ignored by senior managers ? (7/8 marks )

 

[attackallaround]

Re: 2015 Business Studies Marathon

Describe how worker participation promotes effective human resource management

 

[Flop21]

Re: 2015 Business Studies Marathon

Something I made up that is slightly out of the box but tests relevant content.

Q: Following the voltswagen emissions scandal of 2015 (... Google it....), which influences on operations and marketing were ignored by senior managers ? (7/8 marks )

There are 7/8 mark questions in business ??



During the VW emission scandal of 2015 it was discovered that VW cars were emitting 20x the legal limit of carbon emissions. The cars were also bypassing testing, as software detected when the car was being tested and temporarily emitted lower carbon emissions during smog testing.

I would answer fully but I'm struggling so I'll just list the relevant syllabus points:


Operations:

Government legislation, legal regulation, Corporate social responsibility.


Marketing:

ethics:

truth

consumer law:

deceptive and misleading advertising

 

[BLIT2014]

Re: 2015 Business Studies Marathon

There are 7/8 mark questions in business ??



During the VW emission scandal of 2015 it was discovered that VW cars were emitting 20x the legal limit of carbon emissions. The cars were also bypassing testing, as software detected when the car was being tested and temporarily emitted lower carbon emissions during smog testing.

I would answer fully but I'm struggling so I'll just list the relevant syllabus points:


Operations:

Government legislation, legal regulation, Corporate social responsibility.


Marketing:

ethics:

truth

consumer law:

deceptive and misleading advertising

The longest I've seen is 7 marker

 

[astroman]

Re: 2015 Business Studies Marathon

I hope a 75 aligns to a mid-high band 5.

 

[Crisium]

Re: 2015 Business Studies Marathon

I hope a 75 aligns to a mid-high band 5.

Yeah it will

But you will get a Band 6 so aim for mid 80's

 

[astroman]

Re: 2015 Business Studies Marathon

Yeah it will

But you will get a Band 6 so aim for mid 80's

I have hardly studied, I have mainly relied on common sense for business throughout the year, averaging 80s.

 

[karan96]

Re: 2015 Business Studies Marathon

not sure if anyone has asked this before, but explain the limitations and ethical issues of financial reports (6).

Just wanna see how this is answered, my notes are terrible on it

Also, describe administrative and developmental performance management strategies (4)

 

[Flop21]

Re: 2015 Business Studies Marathon

Yeah it will

But you will get a Band 6 so aim for mid 80's

Full marks in MC + SA + 15 in both extended responses = 90. Takeaway 5 marks from MC or SA (or half half) and you get 85. That seems achievable... hopefully.

God I feel like I've studied a LOT, but still feel really unprepared there's way too much in business and I might have to rely on my BS skills.

 

[CaptainSir]

Re: 2015 Business Studies Marathon

not sure if anyone has asked this before, but explain the limitations and ethical issues of financial reports (6).

Just wanna see how this is answered, my notes are terrible on it

Financial reports aim to disclose information to stakeholders regarding the business' financial position at the time of release. These reports are limited by the possibility of skewed information due to:
-Normalised earnings; the process of removing one-off expenses and/or revenues from the balance sheet due to irrelevance to the companies true earnings
-Capitalising expenses; recording liabilities as assets, due to possible future purposing as an asset (e.g. R&D costs being recorded as future increases in product sales)
-Valuing assets; assets can be hard to value due to fluctuating market value and depreciation
-Debt repayments; financial reports only show general information about debts
-Report notes; reports often include notes relating to separate fine print/details, making the report harder to understand

 

[aanthnnyyy]

Re: 2015 Business Studies Marathon

Financial reports aim to disclose information to stakeholders regarding the business' financial position at the time of release. These reports are limited by the possibility of skewed information due to:
-Normalised earnings; the process of removing one-off expenses and/or revenues from the balance sheet due to irrelevance to the companies true earnings
-Capitalising expenses; recording liabilities as assets, due to possible future purposing as an asset (e.g. R&D costs being recorded as future increases in product sales)
-Valuing assets; assets can be hard to value due to fluctuating market value and depreciation
-Debt repayments; financial reports only show general information about debts
-Report notes; reports often include notes relating to separate fine print/details, making the report harder to understand

+ timing issues- the matching principle where purchases should be recorded on the day they are made. Additionally, financial reports become distorted because business may purchase an asset (e.g. June 30 @end of financial year) but carrying on to the next years financial report and won't be included - making the business appear more profitable

 

[CaptainSir]

Re: 2015 Business Studies Marathon

Also, describe administrative and developmental performance management strategies (4)

Performance management aims to assess and refine employee outcomes to ensure consistent work quality.
-Administrative; Generally applies a survey approach, questioning employees on their believed work quality/progress at regular intervals. This carries the benefit of a uniform approach that can be efficiently applied to all employees at no cost, that encourages high productivity and business standards, which is favourable in large hierarchical businesses.
-Developmental; The use of a personal, detailed approach for each individual employee, in which employees are mentored to constantly re-evaluate their contribution to the business by superiors. This carries the benefit of a greater sense of worth/trust built in employees with the business, while the business gains a deeper understanding of each employees strengths and weaknesses. This approach is extremely slow and expensive.

 

[CaptainSir]

Re: 2015 Business Studies Marathon

+ timing issues- the matching principle where purchases should be recorded on the day they are made. Additionally, financial reports become distorted because business may purchase an asset (e.g. June 30 @end of financial year) but carrying on to the next years financial report and won't be included - making the business appear more profitable

Ah, thought I forgot something.

 

[CaptainSir]

Re: 2015 Business Studies Marathon

With reference to examples, outline 2 approaches to marketing. (3 marks)

 

[aanthnnyyy]

Re: 2015 Business Studies Marathon

With reference to examples, outline 2 approaches to marketing. (3 marks)

- the sales or selling approach to marketing (80-90s) was based on creating a product and persuading consumers to purchase it through advertising campaigns e.g. Kodak famously drew attention to its camera through reputable advertisements, increasing sales rapidly

- the marketing approach is the modern day approach and consists of designing a product to meet the needs of the customer. Under this approach, the customer is viewed as the centre of all marketing. E.g. Apple's iPhone is a representation of an innovative product that has adapted to the changing society, satisfying the consumer preferences all across the world
--
Q. Explain the importance of logistics to a businesses operations (4marks)

 

[dan964]

Re: HSC Business Studies Marathon Archive

This thread has been closed as an archive, please refer to
http://community.boredofstudies.org...60125/hsc-2017-business-studies-marathon.html
for 2017

Feel free to attempt any of the questions here as well for practice.

Thanks