Section II
Students should:
- have a clear understanding of key words in the question and recognise their different requirements, such as, ‘evaluate’, ‘assess’ and ‘explain’
- read the question carefully to ensure that they do not miss important components of the question
- use relevant business studies terminology to support their judgement throughout their response
- engage with what the question is asking rather than presenting a pre-prepared response
- provide concise, clear short answer responses.
Question 21
In better responses, students were able to:
- recall factors affecting consumer choice (a)
- evaluate a simple stimulus and infer implications for a hypothetical business (a)
- express a logical perspective (a)
- explain the two-way interdependence between marketing and finance (b)
- use a simple stimulus and infer implications for a hypothetical business (a, b and c)
- provide reasons for market research and its implications for the business (c)
- link the implications of market research on the strategic position of a business (c).
Areas for students to improve include:
- practising using stimulus to answer the question.
Question 22
In better responses, students were able to:
- correctly sketch in general terms a relevant ethical issue related to the preparation financial reports, such as, timing, notes to financial reports, valuing of assets, GST obligations (a)
- demonstrate an understanding of an ethical rather than a legal issue related to the preparation financial reports (a)
- provide either why or how debt financing is an advantage , such as, funds are readily available, large choice of lenders and products, flexible payment periods, no dilution of ownership or control (b)
- demonstrate a clear understanding of debt financing (b)
- show knowledge of relevant debt financing and the subsequent benefits to the business of choosing this method of accessing funds (b)
- provide either why or how equity financing is a disadvantage, such as, expectation from owners about return on investment, longer more expensive method of obtaining funds, ownership and control is diluted (c)
- demonstrate a clear understanding of equity financing (c)
- show knowledge of relevant methods of obtaining equity finance and the subsequent drawbacks to the business of choosing this method of accessing funds (c).
Areas for students to improve include:
- identifying the key words in the question as many answers were descriptive rather than explanatory
- demonstrating a clear understanding of equity finance, including knowledge that equity finance is not a loan (c).
Question 23
In better responses, students were able to:
- demonstrate an understanding of an employer obligation (a)
- demonstrate knowledge of both awards and enterprise agreements, drawing comparisons between them (b)
- use key words in their response, such as minimum standards and Fair Work Commission (b)
- identify and provide detail on a social influence, such as, changing work patterns and living standards (c)
- display an understanding of the impact this social influence has on HR processes and strategies for example maintenance (c)
- make judgements about the social influence and the impact on human resources (c).
Areas for students to improve include:
- understanding the difference between an employee and employer (a)
- understanding the difference between a right and obligation (a)
- displaying an understanding of both awards and enterprise agreements and the differences between them (b)
- display an understanding of ‘awards’ as opposed to ‘rewards’(b)
- providing more specific information about appropriate social influence(s) (c)
- relating the social influence to human resources (c).
Question 24
In better responses, students were able to:
- correctly identify two transforming resources (a)
- use the stimulus to correctly identify two transforming resources (a)
- demonstrate how variety impacts the transformation process (b)
- use examples from the stimulus to show understanding (b)
- give reasons why the business may have been reluctant to become more socially responsible (c)
- show a clear understanding of social responsibility (c).
Areas for students to improve include:
- an understanding of the differences between transformed and transforming resources (a)
- giving clear impacts of how variety influences elements of the transformation process (b)
- avoiding general statements about the business (c)
- giving details regarding the reasons why the business may be reluctant to be more socially responsible (c).
Sections III and IV
Students should:
- have a clear understanding of key word(s) in the question and recognise the different requirements of key words such as ‘evaluate’, ‘assess’ and ‘explain’
- read the question carefully to ensure that they do not miss important components of the question
- use relevant business terminology and concepts throughout the response
- support responses with relevant and contemporary examples and case studies
- engage with what the question is asking rather than presenting a pre-prepared response
- review syllabus content to ensure that their responses are accurate and address syllabus requirements
- provide well organised, structured, cohesive and sustained responses to the question(s).
Question 25
In better responses, students were able to:
- use and apply the stimulus material
- provide points for and/or against two human resource methods, for example, job interviews and coaching, covering both acquisition and development
- provide reasons in favour of two appropriate working capital management strategies, such as inventory management and managing accounts payable
- clearly show an understanding of relevant syllabus content in a logical and sustained manner.
Areas for students to improve include:
- demonstrating knowledge of appropriate working capital management strategies
- applying syllabus content appropriately to the hypothetical business rather than linking content superficially
- providing a balanced response to cover two evenly weighted sections of the question.
Question 26
In better responses, students were able to:
- clearly show the relationship(s) between market segmentation and marketing strategies
- integrate the case study throughout the response
- draw out an implication from the relationship between market segmentation and marketing strategies.
Areas for students to improve include:
- drawing out the relationship between and implications of market segmentation and marketing strategies
- demonstrating use of relevant terminology and concepts, rather than providing generalised information
- demonstrating a clear understanding of market segmentation and/or marketing strategies from the syllabus and not more general marketing information such as marketing influences or types of markets.
Question 27
In better responses, students were able to:
- clearly show the relationship(s) between performance objectives and operations strategies
- incorporate the case study throughout the response
- draw out an implication from the relationship between performance objectives and operations strategies.
Areas for students to improve include:
- drawing out the implications of the relationship between performance objectives and operations strategies, for example, supply chain and inventory management strategies to ensure that stock is always on hand to meet customer needs
- demonstrating use of relevant terminology and concepts, rather than providing generalised information
- demonstrating a clear understanding of performance objectives and/or operations strategies from the syllabus and not general business activities or operations processes such as the 4 V’s (volume, variety, variation, visibility).
