Northlakes High SchoolHSIE

Student Booklet

HSC Business Studies

2014-15

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Contents

Northlakes HSC Scope and Sequence............................................3Assessment Task Schedule.............................................................4Course Objectives and Outcomes...................................................5Course Overview and Content ........................................................6Summary of external and internal HSC assessment.....................14HSC examination specifications.....................................................14Performance Band Descriptors.......................................................15Subject Glossary............................................................................N/ADirective Verb Glossary...................................................................16Websites..........................................................................................17

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NORTHLAKES HIGH SCHOOLYEAR 12 HSC – Business studies

YEARLY PLANNER 2014/15Term 4: Tuesday 7/10/12 – Friday 18/12/12Week 1

7/10Week 2

13/10Week 3

20/10Week 4

27/10Week 5

311Week 6

10/11Week 7

17/11Week 8

24/11Week 9

1/12Week 10

8/12Week 11

15/12AssessTask#1

Week127/1

Week 22/2

Week 39/2

Week 416/2

Week 523/2

Week 62/3

Week 79/3

Week 816/3

Week 923/3

Week 1030/3

Assess Task#2

Week 120/4

Week 2 27/4

Week 3 4/5

Week 4 11/5

Week 5 18/5

Week 625/5

Week 71/6

Week 88/6

Week 915/6

Week 1022/6

Assess Task#3

Week 1

13/7

Week 2

20/7

Week 3

27/7

Week 4

3/8

Week 510/8

Week 617/8

Week 724/8

Week 831/8

Week 97/9

Week 1014/9

TRIAL HSCAssessTask 4

FEEDBACKREVISION

REVISION REVISION REVISION REVISION REVISION

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Marketing

HR

Feedbackkg

Finance Operations

Operations Human Resources Human Resources

Finance

Feedback

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Assessment schedule BUSINESS STUDIES - 2 UNIT

Higher School Certificate 2015

Components WeightingTask 1

Week: 10Term: 4, 2014Marketing Test: Structured Short Answer

Task 2Week: 9Term: 1, 2015Financial Stimulus Activity

Task 3Week: 8Term: 2, 2015Report/Casestudy

Task 4Week: 3/4Term: 3, 2015Trial HSC

Knowledge & Understanding

40% 20% 20%

Stimulus-based skills 20% 20%

Inquiry and Research 20% 20%

Communication 20% 10% 10%

TOTAL MARKS: 100% 20% 20% 30% 30%

Outcomes H3, H5, H6 H4, H7, H9, H10 H2, H8 H1, H3, H6, H10

Outcomes

H1 Critically analyses the role of business in Australia and globally

H2 Evaluates management strategies in response to changes in internal and external influences

H3 Discusses the social and ethical responsibilities of management

H4 Analyses business functions and processes in large and global businesses

H5 Explains management strategies and their impact on businesses

H6 Evaluates the effectiveness of management in the performance of business

H7 Plans and conducts investigations into contemporary business issues

H8 Organises and evaluates information for actual and hypothetical business situations

H9 Communicates business information, issues and concepts in appropriate formats

H10 Applies mathematical concepts appropriately in business situations

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Objectives and Outcomes

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Objectives: The student develops knowledge and understanding about:

HSC outcomes

The student:

The nature, role and structure of business

H1 Critically analyses the role of business in Australia and globally

Internal and external influences on business

H2

H3

Evaluates management strategies in response to changes in internal and external influences

Discusses the social and ethical responsibilities of management

The functions and processes of business activity

H4 Analyses business functions and processes in large and global businesses

Management strategies and their effectiveness

H5

H6

Explains management strategies and their impact on businesses

Evaluates the effectiveness of management in the performance of business

The student develops skills to:investigate, synthesise and evaluate contemporary business issues and hypothetical and actual business situations

H7H8

Plans and conducts investigations into contemporary business issuesOrganises and evaluates information for actual and hypothetical business situations

communicate business information and issues using appropriate formats

H9 Communicates business information, issues and concepts in appropriate formats

apply mathematical concepts appropriate to business situations

H10 Applies mathematical concepts appropriately in business situations

HSC Course Overview

HSC course structure (120 indicative hours)

Topic Indicativehours

% of coursetime

Operations 30 25

Marketing 30 25

Finance 30 25

Human resources 30 25

Content: HSC Course

10.1 HSC topic: Operations 25% of indicative time

The focus of this topic is the strategies for effective operations management in large businesses.

Outcomes

The student:H1 critically analyses the role of business in Australia and globallyH2 evaluates management strategies in response to changes in internal and external influencesH3 discusses the social and ethical responsibilities of managementH4 analyses business functions and processes in large and global businessesH5 explains management strategies and their impact on businessesH6 evaluates the effectiveness of management in the performance of businessesH7 plans and conducts investigations into contemporary business issuesH8 organises and evaluates information for actual and hypothetical business situationsH9 communicates business information, issues and concepts in appropriate formats

Content

Students learn to:

examine contemporary business issues to: discuss the balance between cost and quality in operations strategy examine the impact of globalisation on operations strategy identify the breadth of government policies that affect operations management explain why corporate social responsibility is a key concern in operations management

investigate aspects of business using hypothetical situations and actual business case studies to: describe the features of operations management for businesses in a tertiary industry

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assess the relationship between operations and the other key business functions in two actual businesses

explain how operations strategy can help a business sustain its competitive advantage recommend possible operations strategies for one hypothetical business

Students learn about:

role of operations management strategic role of operations management – cost leadership, good/service differentiation goods and/or services in different industries interdependence with other key business functions

influences globalisation, technology, quality expectations, cost-based competition, government policies, legal

regulation, environmental sustainability corporate social responsibility – the difference between legal compliance and ethical responsibility– environmental sustainability and social responsibility

operations processes inputs – transformed resources (materials, information, customers)– transforming resources (human resources, facilities)

transformation processes – the influence of volume, variety, variation in demand and visibility (customer contact)– sequencing and scheduling – Gantt charts, critical path analysis– technology, task design and process layout– monitoring, control and improvement

outputs– customer service– warranties

operations strategies performance objectives – quality, speed, dependability, flexibility, customisation, cost new product or service design and development supply chain management – logistics, e-commerce, global sourcing outsourcing – advantages and disadvantages technology – leading edge, established inventory management – advantages and disadvantages of holding stock, LIFO (last-in-first-out),

FIFO (first-in-first-out), JIT (just-in-time) quality management– control– assurance– improvement

overcoming resistance to change – financial costs, purchasing new equipment, redundancy payments, retraining, reorganising plant layout, inertia

global factors – global sourcing, economies of scale, scanning and learning, research and development

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10.2 HSC topic: Marketing 25% of indicative time

The focus of this topic is the main elements involved in the development and implementation of successful marketing strategies.

Outcomes

The student:H1 critically analyses the role of business in Australia and globallyH2 evaluates management strategies in response to changes in internal and external influencesH3 discusses the social and ethical responsibilities of managementH4 analyses business functions and processes in large and global businessesH5 explains management strategies and their impact on businessesH6 evaluates the effectiveness of management in the performance of businessesH7 plans and conducts investigations into contemporary business issuesH8 organises and evaluates information for actual and hypothetical business situationsH9 communicates business information, issues and concepts in appropriate formatsH10 applies mathematical concepts appropriately in business situations

Content

Students learn to:

examine contemporary business issues to: explain why goods and/or services are central to both marketing and operations examine why ethical behaviour and government regulation are important in marketing assess why a mix of promotional strategies is important in the marketing of goods and services

investigate aspects of business using hypothetical situations and actual business case studies to: evaluate the marketing strategies for a good or service analyse a marketing plan for a business explain how globalisation has affected marketing management

Students learn about:

role of marketing strategic role of marketing goods and services interdependence with other key business functions production, selling, marketing approaches types of markets – resource, industrial, intermediate, consumer, mass, niche

influences on marketing factors influencing customer choice – psychological, sociocultural, economic, government consumer laws – deceptive and misleading advertising

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– price discrimination– implied conditions– warranties

ethical – truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging

marketing process situational analysis – SWOT, product life cycle market research establishing market objectives identifying target markets developing marketing strategies implementation, monitoring and controlling – developing a financial forecast; comparing actual and

planned results, revising the marketing strategy

marketing strategies market segmentation, product/service differentiation and positioning products – goods and/or services– branding– packaging

price including pricing methods – cost, market, competition-based– pricing strategies – skimming, penetration, loss leaders, price points– price and quality interaction

promotion– elements of the promotion mix – advertising, personal selling and relationship marketing, sales

promotions, publicity and public relations– the communication process – opinion leaders, word of mouth

place/distribution– distribution channels– channel choice – intensive, selective, exclusive– physical distribution issues – transport, warehousing, inventory

people, processes and physical evidence e-marketing global marketing– global branding– standardisation– customisation– global pricing– competitive positioning

10.3 HSC topic: Finance25% of indicative time

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The focus of this topic is the role of interpreting financial information in the planning and management of a business.

Outcomes The student:H2 evaluates management strategies in response to changes in internal and external influencesH3 discusses the social and ethical responsibilities of managementH4 analyses business functions and processes in large and global businessesH5 explains management strategies and their impact on businessesH6 evaluates the effectiveness of management in the performance of businessesH7 plans and conducts investigations into contemporary business issuesH8 organises and evaluates information for actual and hypothetical business situationsH9 communicates business information, issues and concepts in appropriate formatsH10 applies mathematical concepts appropriately in business situations

Content

Students learn to:

examine contemporary business issues to: explain potential conflicts between short-term and long-term financial objectives analyse the influence of government and the global market on financial management identify the limitations of financial reporting compare the risks involved in domestic and global financial transactions

investigate aspects of business using hypothetical situations and actual business case studies to: calculate key financial ratios assess business performance using comparative ratio analysis recommend strategies to improve financial performance examine ethical financial reporting practices

Students learn about:

role of financial management strategic role of financial management objectives of financial management– profitability, growth, efficiency, liquidity, solvency– short-term and long-term

interdependence with other key business functions

influences on financial management internal sources of finance – retained profits external sources of finance – debt – short-term borrowing (overdraft, commercial bills, factoring), long-term borrowing

(mortgage, debentures, unsecured notes, leasing)

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– equity – ordinary shares (new issues, rights issues, placements, share purchase plans), private equity

financial institutions – banks, investment banks, finance companies, superannuation funds, life insurance companies, unit trusts and the Australian Securities Exchange

influence of government – Australian Securities and Investments Commission, company taxation global market influences – economic outlook, availability of funds, interest rates

processes of financial management planning and implementing – financial needs, budgets, record systems, financial risks, financial

controls – debt and equity financing – advantages and disadvantages of each– matching the terms and source of finance to business purpose

monitoring and controlling – cash flow statement, income statement, balance sheet financial ratios – liquidity – current ratio (current assets ÷ current liabilities)– gearing – debt to equity ratio (total liabilities ÷ total equity)– profitability – gross profit ratio (gross profit ÷ sales); net profit ratio (net profit ÷ sales); return on

equity ratio (net profit ÷ total equity)– efficiency – expense ratio (total expenses ÷ sales), accounts receivable turnover ratio (sales ÷

accounts receivable)– comparative ratio analysis – over different time periods, against standards, with similar

businesses limitations of financial reports – normalised earnings, capitalising expenses, valuing assets, timing

issues, debt repayments, notes to the financial statements ethical issues related to financial reports

financial management strategies cash flow management– cash flow statements– distribution of payments, discounts for early payment, factoring

working capital management – control of current assets – cash, receivables, inventories – control of current liabilities – payables, loans, overdrafts– strategies – leasing, sale and lease back

profitability management– cost controls – fixed and variable, cost centres, expense minimisation– revenue controls – marketing objectives

global financial management– exchange rates– interest rates– methods of international payment – payment in advance, letter of credit, clean payment, bill of

exchange– hedging– derivatives

10.4 HSC topic: Human resources 25% of indicative time

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The focus of this topic is the contribution of human resource management to business performance.

Outcomes

The student:H2 evaluates management strategies in response to changes in internal and external influencesH3 discusses the social and ethical responsibilities of managementH4 analyses business functions and processes in large and global businessesH5 explains management strategies and their impact on businessesH6 evaluates the effectiveness of management in the performance of businessesH7 plans and conducts investigations into contemporary business issuesH8 organises and evaluates information for actual and hypothetical business situationsH9 communicates business information, issues and concepts in appropriate formats

Content

Students learn to:

examine contemporary business issues to: discuss the influence of government on the process of determining employment contracts explain how businesses exhibit corporate social responsibility in the management of human

resources analyse the causes of two workplace disputes and the strategies used to resolve them examine the advantages of a diverse, culturally competent workforce for a global business

investigate aspects of business using hypothetical situations and actual business case studies to: explain the interdependence between human resources and other key business functions compare the process of negotiating enterprise/collective agreements with the negotiation of

individual contracts discuss the advantages and disadvantages of outsourcing in the global market evaluate the effectiveness of human resource management for one business and recommend

appropriate alternative strategies

Students learn about:

role of human resource management strategic role of human resources interdependence with other key business functions outsourcing– human resource functions– using contractors – domestic, global

key influences

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stakeholders – employers, employees, employer associations, unions, government organisations, society

legal – the current legal framework– the employment contract – common law (rights and obligations of employers and employees),

minimum employment standards, minimum wage rates, awards, enterprise agreements, other employment contracts

– occupational health and safety and workers compensation – antidiscrimination and equal employment opportunity

economic technological social – changing work patterns, living standards ethics and corporate social responsibility

processes of human resource management acquisition development maintenance separation

strategies in human resource management leadership style job design – general or specific tasks recruitment – internal or external, general or specific skills training and development – current or future skills performance management – developmental or administrative rewards – monetary and non-monetary, individual or group, performance pay global – costs, skills, supply workplace disputes – resolution – negotiation, mediation, grievance procedures, involvement of courts and tribunals

effectiveness of human resource management indicators – corporate culture– benchmarking key variables– changes in staff turnover– absenteeism– accidents– levels of disputation– worker satisfaction

Summary of external and internal HSC assessment

External examination Mark15 | P a g e

Section I Objective response questions 20

Section II Short-answer questions 40Section III Candidates answer one extended response question in the form of a business report

20

Section IV Candidates answer one extended response question 20

100

Internal assessment WeightingKnowledge and understanding of course content 40

Stimulus-based skills 20Inquiry and research 20Communication of business information, ideas and issues in appropriate forms

20

100

No more than 50% weighting may be allocated to tests and examinations.

HSC examination specifications Business Studies HSC examination specifications to apply from the HSC 2012.

The examination will consist of a written paper worth 100 marks. Time allowed: 3 hours plus 5 minutes reading time. The paper will consist of four sections.

Section I (20 marks) There will be objective-response questions worth 20 marks.

Section II (40 marks) There will be four to six short-answer questions. Questions may be in parts. There will be approximately 12 items in total.

Section III (20 marks) There will be one question that requires an extended response in a business report format. This question will incorporate elements from across topics in the HSC course. The expected length of response will be around six pages of an examination writing booklet (approximately 800 words).

Section IV (20 marks) There will be two extended-response questions. Candidates will be required to answer one question. Each question will be drawn from a different topic in the HSC course. The expected length of response will be around six pages of an examination writing booklet (approximately 800 words).

Performance band descriptors Business Studies – Performance band descriptionsThe typical performance in this band:16 | P a g e

Band 6demonstrates comprehensive knowledge and understanding of business functions and operations critically analyses the nature, role and structure of business evaluates the effectiveness of management responses to internal and external influences that affect business interprets and applies specific numerical data to analyse and solve business problems and predict future trends synthesises contemporary business issues when evaluating management responses and strategies clearly communicates using business terminology, concepts and comprehensive case studies in a variety of appropriate formats Band 5demonstrates thorough knowledge and understanding of business functions and operations analyses the nature, role and structure of business analyses management responses to internal and external influences that affect business interprets and applies numerical data to analyse and solve business problems and predict future trends applies contemporary business issues when analyzing management responses and strategies communicates using business terminology, concepts and comprehensive case studies in a variety of appropriate formats Band 4demonstrates knowledge and some understanding of business functions and operations explains the nature, role and structure of business explains management responses to internal and external influences that affect business interprets and applies numerical data with some analysis to solve business problems summarises contemporary business issues with some analysis of management responses and strategies communicates using business terminology, concepts and comprehensive case studies in descriptive formats Band 3demonstrates basic understanding of business functions and operations describes the nature, role and structure of business describes management responses refers to numerical data when solving business problems displays limited analysis of contemporary business issues communicates using basic business terminology in simple formats Band 2demonstrates limited understanding of business functions and operations demonstrates limited knowledge of the nature, role and structure of business identifies management responses uses elementary numerical data shows limited communication skills

Directive Verb Glossary

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ACCOUNT State reasons for, report on, explain. Give an account of, narrate a series of events or transactionsANALYSE Identify components and the relationship between them, draw out and relate implicationsAPPLY Use, utilise, employ in a particular situationAPPRECIATE Make a judgment about the value of. Include evidence/examplesASSESS Make a judgment of value, quality, outcomes, results or size. Give your opinion with facts.CALCULATE Ascertain / determine from given facts, figures or informationCLARIFY Make clear or plainCLASSIFY Arrange or include in classes / categoriesCOMPARE Show how things are similar or different (hint – use a Venn diagram)CONSTRUCT Make, build, put together items or argumentsCONTRAST Show how things are different or oppositeCRITICALLY(analyse / evaluate) Add a degree or level of accuracy, depth, knowledge and understanding, logic, questioning, reflection and quality to analysis/evaluationDEDUCE Draw conclusionsDEFINE State meaning and identify essential qualitiesDEMONSTRATE Show by exampleDESCRIBE Provide characteristics and features of the item / conceptDISCUSS Identify issues and provide points for and/or againstDISTINGUISH Recognise and indicate as being distinct or different from, to note differences between thingsEVALUATE Make a judgment and give your opinion based on criteria, determine the value ofEXAMINE Inquire into, find out the factsEXPLAIN Relate cause and effect, make the relationships between things evident, provide the why and/or how about the item / conceptEXTRACT Choose relevant and/or appropriate detailsEXTRAPOLATE Infer from what is knownIDENTIFY Recognise and nameINTERPRET Draw meaning fromINVESTIGATE Plan, inquire into and draw conclusions aboutJUSTIFY Support an argument or conclusion with evidence and examplesOUTLINE Sketch in general terms, indicate the main features ofPREDICT Suggest what may happen based on available informationPROPOSE Put forward a point of view, idea, argument or suggestion for consideration or actionRECALL Present remembered ideas, facts or experiencesRECOMMEND Provide reasons in favourRECOUNT Retell a series of eventsSUMMARISE Concisely express the relevant detailsSYNTHESISE Putting together various elements to make a whole

Websites

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Some useful websites for Study Guides and Strategies: www.hsc.csu.edu.au www.boardofstudies.nsw.edu.au www.boredofstudies.org www.studygs.net www.tale.edu.au www.cli.nsw.edu.au

(Each of the universities websites also has tips and guides, so try a search under their names.)

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