MY GUIDE TO GET A 96 IN BUSINESS STUDIES (1 Viewer)

AKONS

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Welcome to AKONS' guide to succeeding in the Business Studies HSC course. I had a lot of trouble when I first started business, but with these lessons I learnt I quickly improved and ending up succeeding in a subject I was once unconfident in.

QUALIFICATIONS

To start of with I'd just like to tell you all my qualifications. Because let's face it, you can't trust every Joe Shmoe on the internet claiming they have a solution to your problems without first evaluating their credentials.

I graduated the HSC Business Studies course in 2020 as an accelerated student at my school. I received a 96/100 for my assessment mark and a 96/100 for my examination mark. This added up to my final HSC mark of 96/100. I know it's not a state rank or anything, but I think it's a respectable aim for all students aspiring for high marks in 2021 and beyond.

GUIDE

This guide will be split into the key components of the HSC exam and exam preparation
1) Learning content
2) Exam
i) Multiple choice
ii) Short answer
iii) Business Report
iv) Essay


1. LEARNING CONTENT

There is one word of warning given to every new business studies student. This same word strikes fear into every procrastinator who left business studies learning to the night before. That word is... content.

The most infamous feature of business studies is probably the heavy amounts of content one must remember for all four topics. In my experience this can be tackled in a few easy steps.

1) Choose your content sources - I personally experimented with almost every business studies textbooks on the market and from this experience I recommend a pairing of the Business Studies Jacaranda HSC textbook with Cambridge's business studies textbook.

2) Make notes - I aspired to make my notes as concise as possible as contrary to what I originally believed, you don't need 30 pages of notes per topic to know your stuff. It was more like 9. I recommend structuring your notes under the syllabus and only defining the syllabus terms. The only times I recommend going further than this is to add advantages and disadvantages of certain strategies or influences, as well as of course including diagrams.

3) Test yourself on these notes - From hours upon hours of research I can tell you with certainty that rereading your notes over and over again won't help you know your content in any substantial way. Instead I recommend active recall. Read one component of your notes such as an influence, then without looking back at them explain what you just read. I don't mean recite it word from word. I mean try to pretend your a teacher explaining it to a student. If you fail to explain it well enough, go back and look at your notes or conduct more research.

4) Practice Questions - These are probably the most useful way to actively use your knowledge at regular intervals to ensure it's cemented in your mind. I recommend past short answer questions for these. Do some practice questions for a finished topic every so often so your ensure you don't forget your content.

PART 2

I hope Part 1 helps in improving everyone's business studies performance. Unfortunately, I don't have enough time to cover everything in one post. So keep an eye out for part 2 to my guide to succeed in business studies.
 
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AKONS

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Welcome back to AKONS' guide to succeeding in business studies. Thanks to everyone for being so patient and waited for a second post to be released.
Well here it finally is. Off we go!

2.0 EXAM
The business studies exam is best to be tackled in sections. You should finish and check a section before you move onto the next, ensuring you don't need to go back and check so you can focus on doing the section at hand.

2.1 MULTIPLE CHOICE

CONTEXT
Love them or hate them, multiple choice is the easiest place for students to gain or lose marks in the entire business exam.

To give a little context, the business studies multiple choice section is split into 20 questions, each worth 1 mark. In each question, you will have four options to choose from.

If you're trying to hit 95+ for business, you should be aiming for 18/20 MINIMUM for your business studies HSC/trial exam.

STRATEGY
In my experience, the multiple choice is best tackled in this manner.

1) Use the 5 minutes reading time to answer EVERY MC question in your head, allowing you to quickly answer them during writing time.
i) Use the process of elimination and eliminate all the wrong answers to maximise your chances of selecting the right multiple choice option.
2) Fill in the MC answer sheet, but check each multiple choice answer as you go. Accounting for your reading time this should count as a 2nd check of your answers. (I recommend a maximum 10 minutes for this step).

CONCLUSION

See, doesn't sound so hard anymore does it? With this strategy for multiple choice, you should be golden for your own exams.

NEXT POST
Make sure to hang around for the soon release of my next post on short answer strategy. Until then, good luck everyone!
 

AKONS

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Back by popular demand 😁 (shout out to DrDawn) welcome again to my guide to get a 96 in Business Studies!


2.2 Short Answer Questions

Short answers are probably one of the most unpredictable parts of the Business Studies paper.
In terms of time limits, I recommend spending a maximum of 50 minutes on this section.

While the best way to improve your short answer responses is to write them and get them marked, here are some useful tips to make them just that much more bearable.

1) Define, define, define

No matter what the question is you will always have to define the key terms in your answer. If you don't have even these most basic definitions you've already been knocked out of the band 6 range. As you bring up terms in your explanation define them too. Overall it shows the marker your in-depth knowledge.

2) Link to your hearts content!

To properly answer how " A affects E" you have to take the marker on a complete journey. Imagine your answer is a book. Sure you might have the beginning and end chapters but without those juicy middle chapters the story reads as poorly as (insert pop culture reference here).

Specifically, say "A reduces B leading to more efficient C, leading to higher D and overall more successful E".

3) NEVER FORGET THE KBF CRITERIA

I'd wager at least 95% of all short answers (except the occasional curveball) require you to explain how something impacts a KBF in some way or another. However, without first identifying the dart board you can't hit a bullseye.

The solution? Always talk about how it impacts the key criteria for the specific KBF you're talking about. Specifically, these criteria are:
i) Finance: financial objectives (PLEGS).
ii) Operation: competitive advantage (through cost-leadership or product differentiation)
iii) HR: effectiveness indicators (ie. turnover, absenteeism, etc).
iv) Marketing: sales, market-share, etc .

NEXT POST
Stay tuned for my next post regarding how to tackle extended responses. Until then I wish you all the best on your own Business Studies journeys.
 
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hellohowslife

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By popular demand 😁 (shout out to DrDawn) welcome back to my guide to get a 96 in Business Studies!


2.2 Short Answer Questions

Short answers are probably one of the most unpredictable parts of the Business Studies paper.
In terms of time limits, I recommend spending a maximum of 50 minutes on this section.

While the best way to improve your short answer responses is to write them and get them marked, here are some useful tips to make them just that much more bearable.

1) Define, define, define

No matter what the question is you will always have to define the key terms in your answer. If you don't have even these most basic definitions you've already been knocked out of the band 6 range. As you bring up terms in your explanation define them too. Overall it shows the marker your in-depth knowledge.

2) Link to your hearts content!

To properly answer how " A affects E" you have to take the market on a complete journey. Imagine your answer is a book. Sure you might have the beginning and end chapters but without those juicy middle chapters the story reads as poorly as (insert pop culture reference here).

Specifically, say "A reduces B leading to more efficient C, leading to higher D and overall more successful E".

3) NEVER FORGET THE KBF CRITERIA

I'd wager at least 95% of all short answers (except the occasional curveball) require you to explain how something impacts a KBF in some way or another. However, without first identifying the dart board you can't hit a bullseye.

The solution? Always talk about how it impacts the key criteria for the specific KBF you're talking about. Specifically, these criteria are:
i) Finance: financial objectives (PLEGS).
ii) Operation: competitive advantage (through cost-leadership or product differentiation)
iii) HR: effectiveness indicators (ie. turnover, absenteeism, etc).
iv) Marketing: sales, market-share, etc .

NEXT POST
Stay tuned for my next post regarding how to tackle extended responses. Until then I wish you all the best on your own Business Studies journeys.
Just wondering if you used flashcards to study for business?
 

AKONS

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Just wondering if you used flashcards to study for business?
Well the short answer is both yes and no. While I didn't specifically use flashcards I used a strategy that performed a similar function (using active recall).

Personally, I think making flashcards ON TOP of making your theory notes is an incredibly inefficient and wasteful use of your time. What I did that gave me the benefits without the unnecessary time wastage was treat my notes as if they were flashcards (even though they were not).

Just cover up a specific section of your notes and try to explain them (without looking) into a mirror. Once you're done check over that section of your notes to see if you were on the right track.

Saves you time by not having to make flashcards while still maximising retention through active recall.
 

hellohowslife

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ii) Operation: competitive advantage (through cost-leadership or product differentiation)
Thanks! Also, just wondering if instead of competitive advantage, is it a good idea to use use performance objectives (cost, quality, speed, dependability, flexibility, customisation). Or is competitive advantage always better?
 

AKONS

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Thanks! Also, just wondering if instead of competitive advantage, is it a good idea to use use performance objectives (cost, quality, speed, dependability, flexibility, customisation). Or is competitive advantage always better?
Well I wouldn't specifically use performance objectives as the criteria. However, I don't see anything wrong in using them to link to competitive advantage.

For example:
Leading-edge tech --> higher quality product --> allows for product differentiation through higher quality --> competitive advantage.

Overall, I'd still recommend competitive advantage as the final destination as it is fundamentally what the strategic role of operations is.
 

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