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HSC 2015-2016 Business Studies Marathon (archive) (1 Viewer)

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shadowdyne

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Re: 2015 Business Studies Marathon

Guys, kinda irrelevant, but if a question says "Use an example to support your answer", do you use a real life example or a conceptual example?
 

obliviousninja

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Re: 2015 Business Studies Marathon

Would vary on a case by case basis.
 

Crisium

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Re: 2015 Business Studies Marathon

Guys, kinda irrelevant, but if a question says "Use an example to support your answer", do you use a real life example or a conceptual example?
Use case study material so it can be either real or hypothetical, but if it's hypothetical then make it sound legit like "John's Finger Lickin' Chick'n sell's the best quality chicken in Australia ... "
 

shadowdyne

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Re: 2015 Business Studies Marathon

So if there's a question like "Outline the interdependence of (business function) and (business function). Use an example to support your answer." in the short answers, I'd need a case example yes? Even if it's really short like 1 line? How much should it take up e.g. in a 3-4 mark question? Thanks again :)
 

aanthnnyyy

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Re: 2015 Business Studies Marathon

So if there's a question like "Outline the interdependence of (business function) and (business function). Use an example to support your answer." in the short answers, I'd need a case example yes? Even if it's really short like 1 line? How much should it take up e.g. in a 3-4 mark question? Thanks again :)
E.g. Ops and Marketing
The operations process requires market research ... to identify consumer needs, wants etc in order to develop the most suitable product... For instance, Apple spends x amount dollars each year on its marketing campaign to identify the changing preferences of consumer tastes which is in turn translated through more innovative products arising from the operations process ..

Basically just answer the initial question and then link an example illustrating the concepts. In this case, showing markers what you know about the interdependence of ops and marketing. Without a case your argument isn't strengthened and made concrete
 

Flop21

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Re: 2015 Business Studies Marathon

Let's get this thread going later this afternoon/night and do tonnes of questions (will be back to answer lots of questions after some study).
 

Flop21

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Re: 2015 Business Studies Marathon

Outline ONE technological advancement that has influenced human resources (2 marks).





This was not in the sample answer and curious if this would be considered correct... would automation/robotics be considered one? And if I talked about how HR have to make the decision whether to replace workers with this technology or not, and possibly deal with the industrial disputes that may result.
 

Crisium

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Re: 2015 Business Studies Marathon

Outline ONE technological advancement that has influenced human resources (2 marks).





This was not in the sample answer and curious if this would be considered correct... would automation/robotics be considered one? And if I talked about how HR have to make the decision whether to replace workers with this technology or not, and possibly deal with the industrial disputes that may result.
Yeah then you can tie it in with operations in regards to redundancy payments

Alternatively you could have talked about how it has allowed employees to tele-commute (work from home) which saves them the time and effort of travelling to work which may be of a far distance away
 

Flop21

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Re: 2015 Business Studies Marathon

Awesome thanks.


Can someone explain how to calculate the ratios. I understand that we do what it says, say divide x by y, then obviously in the calculator we don't usually get a something:1 answer, yet the answers seem to want it in a something:1 ratio, is this correct? If so, to change the fraction into a something:1 ratio, do we just use the decimal answer for whatever the calculation is, put that as the 'something' then to 1 (something:1), or is there another way?

E.g. calculate the current ratio... (current assets = 73k, current liabilities = 57k) (current assets/current liabilities).

You get 73/57.
 

Crisium

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Re: 2015 Business Studies Marathon

Awesome thanks.


Can someone explain how to calculate the ratios. I understand that we do what it says, say divide x by y, then obviously in the calculator we don't usually get a something:1 answer, yet the answers seem to want it in a something:1 ratio, is this correct? If so, to change the fraction into a something:1 ratio, do we just use the decimal answer for whatever the calculation is, put that as the 'something' then to 1 (something:1), or is there another way?

E.g. calculate the current ratio... (current assets = 73k, current liabilities = 57k) (current assets/current liabilities).

You get 73/57.
Something : 1

I only ever see the current ratio in that form

A lot of the other ratios are left as percentages and the accounts receivable turnover ratio converted to days
 

Crisium

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Re: 2015 Business Studies Marathon

I haven't memorised any case studies ...

I will ONLY memorise the financial ratios and I think that's about it - Hopefully I can still pull off a 15 + / 20
 

Flop21

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Re: 2015 Business Studies Marathon

I haven't memorised any case studies ...

I will ONLY memorise the financial ratios and I think that's about it - Hopefully I can still pull off a 15 + / 20
I wish I made a doc of case studies to use throughout the year, but no time to do that now, so I'll be doing the same thing. I have issues with using just purely QANTAS, because it's so boring and my brain doesn't remember anything from it (plus markers have seen it 1000x). Wanted to use all current and interesting case studies.

But yeah, I think I'll skim through my notes that I bought that have case studies scattered through them and just hope they stick in my head. Plus memorise some stats/figures for finance.
 

Flop21

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Re: 2015 Business Studies Marathon

Do we start from the first month, cash in+, cash out-, then go to second month, cash in+, cash out-, then that is the answer?

OR

do we go from second month, cash in, cash out, and that's the answer?

 

astroman

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Re: 2015 Business Studies Marathon

Just make a case study if you don't have relevant info.
 

BLIT2014

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Re: 2015 Business Studies Marathon

Awesome thanks.


Can someone explain how to calculate the ratios. I understand that we do what it says, say divide x by y, then obviously in the calculator we don't usually get a something:1 answer, yet the answers seem to want it in a something:1 ratio, is this correct? If so, to change the fraction into a something:1 ratio, do we just use the decimal answer for whatever the calculation is, put that as the 'something' then to 1 (something:1), or is there another way?

E.g. calculate the current ratio... (current assets = 73k, current liabilities = 57k) (current assets/current liabilities).

You get 73/57.
The current ratio HAS to be analysed in the x:1 ratio, use the decimal answer not the fraction.
 

Crisium

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Re: 2015 Business Studies Marathon

January:

5000 + (6000) - (3000) = 8000

February:

8000 + (5000) - (3000) = 10000

March:

10000 + (3000) - 8000 = 5000

Note that I used brackets here to signify the receipts and payments and the non-bracket is the opening balance for the month

In REALITY though keep in mind that brackets around the number always represents cash outflows
 

Crisium

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Re: 2015 Business Studies Marathon

I'll check BoS later tonight

I should probably go do something haha
 

astroman

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Re: 2015 Business Studies Marathon

any1 have a list/pdf of financial ratios?
 

aanthnnyyy

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Re: 2015 Business Studies Marathon

January:

5000 + (6000) - (3000) = 8000

February:

8000 + (5000) - (3000) = 10000

March:

10000 + (3000) - 8000 = 5000

Note that I used brackets here to signify the receipts and payments and the non-bracket is the opening balance for the month

In REALITY though keep in mind that brackets around the number always represents cash outflows
isn't the opening cash balance for March $10,000 because the opening balance is equivalent to the closing balance of the previous month.
 
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