Business Studies - TSFX

EXAMINATION OVERVIEW The examination will consist of ONE written paper of three hours duration (plus five minutes reading time). The examination paper consists of FOUR sections that allow for a balanced coverage of all topics in the HSC course. Section I (20 marks): Objective Responses – Multiple Choice 

This section comprises 20 multiple-choice questions.

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All questions are compulsory.

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All questions are of equal value.

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Questions will be based on the topics in the HSC course.

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Some examination questions may involve calculations or the interpretation of statistics and other stimulus material.

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Answers must be recorded on the machine-scored answer sheet.

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Have at least 2 2B pencils and an eraser and calculator which is BOS approved.

Section II (40 marks): Theory and Stimulus Based Short Answer Questions 

This section comprises 4–6 short response questions based on the topics in the HSC course.

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All questions are compulsory.

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These questions may be divided into parts.

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Answers should be written in the spaces provided.

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Some examination questions may involve calculations or the interpretation of statistics and other stimulus material.

Section III (20 marks): Stimulus Based Business Report Question (Approximately 800 words) 

This section comprises ONE question that requires an answer in a business report format. This question will incorporate elements from two or three of the topics in the HSC course.

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It will require you to apply knowledge and understanding and incorporate stimulus material which will be provided.

© The School For Excellence 2011

Trial Exam Preparation Lectures – Business Studies – Book 2

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Section IV (20 marks): Case Study Based Extended Response (Approximately 800 words) 

This section comprises ONE question from a choice of TWO that requires an extended response answer. These questions will incorporate elements from those topics in the HSC course that were not the focus in Section III.

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Essentially, in your response you will be asked to make reference to at least ONE Business case study and clearly demonstrate your knowledge and understanding.

NEW HSC EXAMINATION RUBRICS 2011 (SECTIONS III AND IV) Section III – Business Report (approximately 800 words) In your answer you will be assessed on how well you: 

Demonstrate knowledge and understanding relevant to the question.

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Use the information provided.

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Communicate using relevant terminology and concepts.

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Present a sustained, logical and cohesive response in the form of a business report.

DECONSTRUCTING THE SECTION 3 RUBRIC In pairs, for each of the above dot points write down what you think you need to do to maximise marks in your business report: Demonstrate knowledge and understanding relevant to the question. _________________________________________________________________________ _________________________________________________________________________ Use the information provided. _________________________________________________________________________ _________________________________________________________________________ Communicate using relevant terminology and concepts. _________________________________________________________________________ _________________________________________________________________________ Present a sustained, logical and cohesive response in the form of a business report. _________________________________________________________________________ _________________________________________________________________________



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Section IV – Extended Response (approximately 800 words) In your answer you will be assessed on how well you: 

Demonstrate knowledge and understanding relevant to the question.

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Use relevant business case study/studies.

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Communicate using relevant terminology and concepts.

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Present a sustained, logical and cohesive response in the form of a business report.

DECONSTRUCTING THE SECTION 4 RUBRIC Again in pairs, for each of the above dot points write down what you think you need to do to maximise marks in the extended response. Demonstrate knowledge and understanding relevant to the question. _________________________________________________________________________ _________________________________________________________________________ Use the information provided. _________________________________________________________________________ _________________________________________________________________________ Communicate using relevant terminology and concepts. _________________________________________________________________________ _________________________________________________________________________ Present a sustained, logical and cohesive response in the form of a business report. _________________________________________________________________________ _________________________________________________________________________



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JUST TO REMIND YOU (FROM THIS MORNING!!) OF THE FIVE HSC TOPICS:



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COMMON EXAM ERRORS AND TOP TIPS MULTIPLE CHOICE (OBJECTIVE RESPONSE QUESTIONS) Common errors 

Not comprehending (and/or reading) the question properly.

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Failing to eliminate incorrect responses.

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Not writing out the formulas and calculations for financial questions.

Top tips 

Complete working on the examination paper (to avoid basic errors).

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Do not dwell on any question if unsure, leave it and come back.

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Often your first response is correct; do not change your answer on a whim.

SHORT-ANSWER Common errors 

Not responding to the directive (or glossary) term and only focusing on content.

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Repeating the question in the answer and wasting time and space.

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Not applying and/or relating the theory to the stimulus material provided.

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Using “gutter language” and not including key business terminology.

Top tips 

Complete a brief plan (graphic organiser) for the higher order part of the short-response section eg. “analyse” question (5 marks).

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Use relevant business terminology throughout.

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Include linking phrases to emphasise important causal relationships eg. “as a result of”.

BUSINESS REPORT (COMPULSORY QUESTION) Common errors 

Not allocating time adequately to the directive terms (less time/space for lower order).

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Poor business report structure.

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Not using the relevant syllabus dot points (and terminology).



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Top tips 

Take 2-3 minutes to plan your response, and write down how much time you should allocate to each part of the report.

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Be “militant” with moving on to the next part of the report.

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Selectively underline key headings and sub-headings (with other aspects of a Report Format).

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Take care with your thesis statement and topic sentences and answer the specific question asked.

EXTENDED RESPONSE (CHOICE OF 1 OF 2) Common errors 

Poor allocation of time.

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Insufficient and/or poor use of case study material.

Top tips 

Complete a hybrid version of a report (part essay, part business report).

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Introduce 1 to 3 case studies in the introduction or ensuing paragraph.

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Integrate/synthesise case study material to add value (don’t just use material).

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Answer the question (not what you want to inform the marker).

IMPORTANCE OF “LEARNING” THE SYLLABUS More than many (possibly all) other subjects in the HSIE area, the importance of memorising the syllabus cannot be overstated. One reason for this is that there is so much content to cover across the 5 Topics areas. Even if you have a good grasp of content, but do not select the correct business dot point or dash point (below each dot point) to write about in your answer, you are likely to perform poorly. Hence, from this day forth right through to the HSC Business Studies Examination work on memorising the syllabus. How will you do this? 

Flash cards

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Acronyms

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Mnemonics

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Peer testing

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Rewriting

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Reciting

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Read your notes out loud



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To summarise, “learn off” the syllabus if you want to maximise your marks in HSC Business Studies. In addition to this, consistently refine your ability to define key terms. Don’t forget there are around 17000 students in the State enrolled in this subject. There is no shortage of competition and more marking for the HSC Markers. Set yourself apart!!



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DRAFT PERFORMANCE BANDS — ARE YOU STRIVING TO BE IN BAND 6?



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MULTIPLE CHOICE (OBJECTIVE RESPONSE) AND SHORT-RESPONSE QUESTIONS There are THREE (3) main types of multiple choice and short-response questions: 1.

Definition style questions.

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Concept style questions.

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Application style questions.

In the past few years there has been a tendency by the Examination Board towards asking more of the definition and concept style questions (than the application style). Hence, if this trend continues in 2011, then the author’s suggestion to memorise the syllabus (and key definitions) will reward students further. Nonetheless, the Board of Studies has made it very clear that past papers are exactly that – they are papers that have assessed the syllabus outcomes and content in previous years and are therefore not a predictor of future questions In addition to this, whilst all of the past 10 HSC papers should be completed the Examination Board have stated that they are looking at new and different ways of asking questions. For example, some students (and teachers) were surprised about there being no specific shortresponse Financial Statement question in the 2009 examination. One implication of there being less application style questions means that students are likely to complete the first 2 sections in reduced time. Thus, Section III and Section IV will be even more important in differentiating students. Even though these 2 sections are worth 40% of the total marks offered, students on average spend between 50% and 60% of their time on these questions. Hence, your preparation needs to reflect this. 1.

Definition style questions

Multiple choice or short-response questions that can be answered by mastering key business terms. Multiple Choice Example Which market consists of wholesalers and retailers who purchase finished products and sell them again to make a profit? A B C D

Intermediate market Industrial market Consumer market Resource market

Short-Response Example Question: Define cultural incompatibility. 2.

Concept style questions

These questions require a little more depth of knowledge and/or understanding than the definition questions, including linking concepts together or having to demonstrate a grasp of key themes in a specific topic area.



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Multiple Choice Example Which of the following are external sources of funds for businesses? A B C D

Grants, debentures, leasing, mortgage Venture capital, loans, drawings, factoring Accounts payable, owners’ equity, leasing, discounts Bank overdraft, retained profits, factoring, bank bills

Short-Response Example Question: Discuss the importance of effective financial management for a public limited company? (4 marks) 3.

Application style questions

These questions are likely to have stimulus material that needs to be integrated with business theory (eg. Financial Statement for a hypothetical business) and/or require students to apply business theory through an example of their own. The HSC Examination tends to provide only 2 or 3 sentences of stimulus material and/or a basic illustration (eg. for a Marketing question in the past). This means that you will need to deconstruct this material and use it appropriately in your response. Multiple Choice Example An employee at an advertising agency is asked by management to encourage employees to increase their sales performance. Management believes that workers will respond to this employee as she has charm and charisma that can influence others to achieve their goal. What source of power does the employee demonstrate? A B C D

Legitimate power Coercive power Referent power Expert power

Short Response Example 2008 HSC Stimulus Material A business sells a perfumed hair gel under the name Kooltop brand. It now wants to sell a cheaper non-perfumed hair gel. Question: Describe ONE advantage and ONE disadvantage of marketing the non-perfumed hair gel under the Kooltop brand name.



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SHORT-RESPONSE SECTION (40 MARKS) — HOW TO MAXIMISE YOUR MARKS? Why is it that two students with the same knowledge can get such different marks in an examination? You may well be one of those who becomes frustrated by a consistently poor outcome on written tasks. Part of the issue, along with inadequate study and learning strategies, could be your poor ability to respond appropriately to the Board of Studies glossary words and/or limited writing technique. Too many students focus on bettering their content knowledge, but do not spend time improving their writing skills. (Don’t forget you could leapfrog 5000 students with a relatively small improvement in total marks). The author is not just referring to completing past papers, but consistent completion of questions and refinement of technique. Who is your audience? Markers (teachers) who want to give you marks. Make it easy for them. Write down the following tips on how to maximise your short-response performance? 

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THE BUSINESS REPORT (20 MARKS) SECTION III OF THE HSC EXAMINATION Business Reports are required in Section III of the HSC Examination. In writing this report, HSC students should have approximately 45 minutes, so they must be familiar with the structure of the report question. The Business Report question usually focuses on THREE of the FIVE topic areas (could be TWO) and consists of FOUR components; Rubric, Stimulus, Report Purpose and Audience and the Task or Question. Each of these will be explained below.

RUBRICS (AS DETAILED EARLIER) A rubric is an explanation of what is required, a set of directions that must be followed. Section III in the HSC exam starts with a rubric. Rubrics appear at the beginning of a question. Rubrics: 

Information on what key standards your response will be assessed against.

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Usually consist of three or four dot point statements.

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Are used to indicate what is valued in the marking of your response.

Students must: 

Pay particular attention to the rubric.

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Ensure that the directions in the rubric must be satisfied in the response.

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Make reference to the rubric.

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Plan their response to include the sequence of information suggested in the rubric.

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Use the rubric to work out the amount of detail needed in completing their business report.

There is a direct relationship between the rubric and the making of a response. Failure to follow the rubric will minimise marks.



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STIMULUS This part of the question contains the stimulus material for the question – the description of the business situation – a problem that has to be analysed and reported on. In the example on the opposite page the business situation/problem is the management of the business’s different management problems. The situations are developed by the examiners from the course outcomes. Each student should identify and analyse the business situation outlined in the stimulus.

PURPOSE This part of the question outlines for whom the report is written for (its audience) and who is writing the report (the perspective from which the report is written).

TASK/QUESTION This part of the question sets out the task for the report – what the business report is all about. Business Report Writing – How to write a quality Business Report? Write down key tips on how to write a quality Business Report in an examination setting (these points include a consideration of markers comments from recent HSC Business Studies Examinations): 

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