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2012 HSC Notes from the Marking Centre – Business Studies

Contents

  • Introduction
  • Section II
  • Section III
  • Section IV

Introduction

This document has been produced for the teachers and candidates of the Stage 6 course in Business Studies. It contains comments on candidate responses to the 2012 Higher School Certificate examination, indicating the quality of the responses and highlighting their relative strengths and weaknesses.

This document should be read along with the relevant syllabus, the 2012 Higher School Certificate examination, the marking guidelines and other support documents developed by the Board of Studies to assist in the teaching and learning of Business Studies.

General comments

Teachers and candidates should be aware that examiners may ask questions that address the syllabus outcomes in a manner that requires candidates to respond by integrating the knowledge, understanding and skills they developed through studying the course. It is important to understand that the Preliminary course is assumed knowledge for the HSC course.

Candidates need to be aware that the marks allocated to the question and the answer space (where this is provided on the examination paper) are guides to the length of the required response. A longer response will not in itself lead to higher marks. Writing far beyond the indicated space may reduce the time available for answering other questions.

Candidates need to be familiar with the Board’s Glossary of Key Words, which contains some terms commonly used in examination questions. However, candidates should also be aware that not all questions will start with or contain one of the key words from the glossary. Questions such as ‘how?’, ‘why?’ or ‘to what extent?’ may be asked, or verbs that are not included in the glossary may be used, such as ‘design’, ‘translate’ or ‘list’.

Teachers and candidates are reminded that where a question requires the calculation of a business ratio, the formula will be provided in the question.

Section II

Question 21

  1. In better responses, candidates provided details of how ethically and socially responsible behaviour leads to benefits for the business. Examples of ethically and socially responsible behaviour and/or benefits the business experienced based on the implementation of policies were provided and used to clarify the concepts raised.

    In weaker responses, candidates only provided an outline of an example of ethically and responsible behaviour or benefit for a business.
  1. In better responses, candidates clearly explained why a business may be resistant to meeting corporate social responsibilities (CSR). The reason(s) based on the implementation of CSR policies were linked through to the explicit costs for business. In these responses, candidates sustained their reasoning and provided thorough explanations.

    In weaker responses, candidates made some reference to either resistance to change or corporate social responsibility. In typical responses, candidates named valid concept(s) without a specific link to why there might be resistance to meeting CSR.

Question 22

  1. In better responses, candidates correctly calculated the current ratio and clearly showed all working.

    In weaker responses, candidates either provided working without the correct answer or stated the correct answer without providing the working.
  1. In better responses, candidates correctly calculated the debt to equity ratio and clearly showed all working.

    In weaker responses, candidates provided working without the correct answer or stated the correct answer without providing the working.
  1. In better responses, candidates showed an understanding of how the debt to equity ratio could impact on a business and the importance of meeting debt obligations.

    In weaker responses, candidates made a statement about debt and/or equity without making the link between them evident.
  1. In better responses, candidates provided how and/or why finance and operations are interdependent and supported the claim with several relevant examples.

    In weaker responses, candidates made general statements about interdependence between the finance and operations functions of a business.

Question 23

  1. In better responses, candidates provided a benefit to XYZ Ltd of using global branding. The benefit was clear and in a global context, such as increased global awareness, worldwide recognition and larger global market share.

    In weaker responses, candidates provided a general statement about global branding or provided one benefit without a global context.
  1. In better responses, candidates gave characteristics and features of two relevant physical distribution issues such as transport costs and modes, warehousing expenses and security, inventory management with regard to stock levels and insurance.

    In weaker responses, candidates only provided characteristics and features of one physical distribution issue or outlined one or two issues.
  1. In better responses, candidates clearly analysed the link between marketing and finance when deciding to customise or standardise, pointing out, for example, that the decision to customise could lead to higher sales through improved customer satisfaction but would incur higher financial costs due to the lack of economies of scale. In better responses, candidates analysed the need to weigh costs and higher sales when making a decision.

    In weaker responses, candidates sketched in general terms information about marketing and finance. In some of these responses, candidates referred to the nature of both approaches to the marketing strategy but did not link the finance function with the marketing approach.

Question 24

  1. In better responses, candidates clearly recognised and named two relevant human resource processes which related to the situation detailed in the stimulus. Some of these candidates named acquisition and separation, or training and development for new IT workers and maintaining existing TextMore workers as relevant strategies.

    In weaker responses, candidates named only one human resource process.
  1. (i) and (ii). In better responses, candidates explained the link between an HR strategy and its effective use to manage downsizing at TextMore. These candidates clearly named two human resource strategies, the features of these strategies relating to TextMore and how these strategies could effectively manage downsizing at TextMore.

    In weaker responses, candidates gave characteristics of human resource strategies without linking them to effectively managing downsizing, or only outlined a human resource strategy.

Section III

Question 25

In the best responses, candidates demonstrated extensive knowledge and understanding relevant to the question. They integrated relevant business terminology, concepts and the information provided. Responses were sustained, logical, cohesive and in the form of a business report.

In these responses, candidates provided clear reasons for their strategies for both human resources and operations. These reasons focused on improving the business performance of Sunshine Fruit Juices. For human resources, these strategies included, but were not limited to changing leadership style, changing job design, training and development, monetary and non-monetary rewards, teamwork, performance pay and dispute resolution techniques. Operations strategies included, but were not limited to performance objectives, new product design, supply chain management, inventory management and quality management through control, assurance and improvement.

In mid-range responses, candidates demonstrated some knowledge and understanding relevant to the question with some relevant business terminology and features of a business report. For human resources and operations, these candidates provided characteristics and features of one strategy and/or outlined a second strategy appropriate to Sunshine Fruit Juices. In these responses, candidates typically did not provide reasons in favour of the strategies and did not explicitly link them to improved business performance. Candidates often referred to Sunshine Fruit Juices but did not make effective use of the information provided.

In weaker responses, candidates demonstrated limited knowledge and understanding relevant to the question. Some candidates included some features of a business report and they used basic business terminology. Candidates made general statements about some aspects (not necessarily a strategy) of human resources OR operations. In weaker responses, candidates often made little or no reference to the question or the information provided about Sunshine Fruit Juices. They sometimes include unnecessary material not specifically required, such as a situational analysis or an additional case study.

Section IV

Question 26
In the best responses, candidates demonstrated comprehensive knowledge and understanding relevant to the question, using relevant business case studies and/or contemporary issues, terminology and concepts. These responses were sustained, logical, cohesive and, although not required, often presented in the form of a business report.

In better responses, candidates showed the implications of the importance of ethical behaviour and government regulation to marketing. Candidates referred to areas in marketing such as truth, accuracy and good taste in advertising, products that may damage health, fair competition and sugging and Government regulations such as consumer laws prohibiting deceptive and misleading advertising, price discrimination, implied conditions and warranties. The importance of ethical behaviour and compliance with government regulations was highlighted in areas such as provision of quality products and services for the consumer, building business reputation, allowing business growth, improved profits, maintaining employment and contributing to the economy. Responses were supported with either a detailed business case study or examples of contemporary business issues, which were integrated throughout the response.

In mid-range responses, candidates used business terminology and concepts. In many of these responses, candidates provided characteristics and features of ethical behaviour and/or government regulation in marketing. In some responses, some use of case study material and contemporary business issues was evident.

In weaker responses, candidates made some reference to ethical behaviour and/or government regulation in marketing. Candidates made limited reference to case study material or business terminology.

Question 27
In the best responses, candidates demonstrated comprehensive knowledge and understanding relevant to the question, integrating relevant business case studies, terminology and contemporary business issues. Responses were sustained, logical, cohesive, and although not specifically required, often presented in the form of a business report.

In these responses, candidates showed the relationship between different sources of funds and the financial objectives of a business. Candidates referred to both internal and external sources of funds such as retained profits, short-term debt borrowing (overdraft, commercial bills and factoring) and long-term debt borrowing (mortgage, debentures, unsecured notes and leasing). In these responses, candidates also included equity sources of funds including ordinary shares (new issues, rights issues, placements and share purchase plans) and private equity (owner’s capital and partnership). In better responses, candidates described the relationship and implications of these sources of funds on the short-term and long-term financial objectives of profitability, growth, efficiency, liquidity and solvency. Candidates supported their responses with either a detailed business case study or examples of contemporary business issues, which were integrated throughout the response.

In mid-range responses, candidates used business terminology and concepts. In many of these responses, candidates provided characteristics and features of different sources of funds and/or financial objectives. In some responses, some use of case study material and contemporary business issues was evident.

In weaker responses, candidates made some reference to sources of funds and/or financial objectives. Candidates made limited reference to case study material or business terminology.

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