HSC Business Studies Question Thread

[rodero]

Hi,

Could I please get some clarification as to why a business would use a Gantt Chart in comparison to a Critical Path Analysis and vice versa. Thank you.

[Mathew587]

Gantt>CPA

• shows taskprogression and consequently is more useful for time management than CPA
  
• More used for scheduling than sequencing to which CPA is preferred

Gantt<CPA

• Useful for business operations as the critical path can be found
  
• highlights relationships between different processes

[rodero]

Gantt>CPA

• shows taskprogression and consequently is more useful for time management than CPA
  
• More used for scheduling than sequencing to which CPA is preferred

Gantt<CPA

• Useful for business operations as the critical path can be found
  
• highlights relationships between different processes

This clears it up so much! Thank you!

[kiiaaa]

hello,
could you pelase explain to me how sources of finance is an influence? i dont really get how does your source of finance influences a business

[rodero]

Hey, can someone explain to me how information and customers are an input to a business? Based on what I've studied in class the inputs are those that are converted in the operations process. How exactly is information converted? Also, I understand that the needs of the customer will drive the business, but how are the customers a transformed resource? It all seems very confusing ...

[isaacdelatorre]

hello,
could you pelase explain to me how sources of finance is an influence? i dont really get how does your source of finance influences a business

Hey Kiiaaa,

Influences in the finance section of the syllabus means anything external or internal factor that could affect the way financial managers go about their business. In this way, they must budget expenditure and revenue for the whole business and may require additional funding apart from what they earn in sales revenue (particularly important when undergoing large scale development such as expansion or research and development). Thus there are may different sources of finance that a financial manager can turn to. Each has their own benefits and drawbacks as well as having characteristics which will help when matching the term, type and purpose of funds (ensuring you don't have a short term loan with a high interest rate if borrowing a large amount to geographically expand which won't generate revenue in the short term)

Hope this helps

[isaacdelatorre]

Hey, can someone explain to me how information and customers are an input to a business? Based on what I've studied in class the inputs are those that are converted in the operations process. How exactly is information converted? Also, I understand that the needs of the customer will drive the business, but how are the customers a transformed resource? It all seems very confusing ...

Hey Rodero,

Duuude, don't get me started on this dot point!! I spent countless hours quizzing my teacher about this cos it was supppeerrr confusing.

I've learned to accept it not as a physical or literal sense but more that customers inform the business on the kind of product that they need to make, informs augmentations to the product, colour, features, size, demand etc. I.e. their opinions are converted in the transformation process to create the product.

Information on the other hand is conducted internally (by the business itself by analysing past business performance through lead times, warranty claims, KPI's etc.) or externally (industry reports from external bodies) which can be used in the transformation process to influence operations decisions. In particular how inputs are used, where they are drawn from, which suppliers and supplies are available.

Hope this helps

[rodero]

Hey Rodero,

Duuude, don't get me started on this dot point!! I spent countless hours quizzing my teacher about this cos it was supppeerrr confusing.

I've learned to accept it not as a physical or literal sense but more that customers inform the business on the kind of product that they need to make, informs augmentations to the product, colour, features, size, demand etc. I.e. their opinions are converted in the transformation process to create the product.

Information on the other hand is conducted internally (by the business itself by analysing past business performance through lead times, warranty claims, KPI's etc.) or externally (industry reports from external bodies) which can be used in the transformation process to influence operations decisions. In particular how inputs are used, where they are drawn from, which suppliers and supplies are available.

Hope this helps

This definitely clears it up! Thank you  It was kind of a wtf moment reading the definition of inputs and then customers and information as an input right after..

[CaitlinSavins]

Is it better to have one case study that applies to quite a few dot points, or better to have multiple case studies?

[diesxel]

Hello! I had a a queation from operations processes- influences on the transformation process. In the first influence (4 V's), I have two different explanations for influence of visibility in two books.

One textbook says that visibility is the extent to which customers can see the operations in action (so service hasn't high visibility).

 The other textbook says that visbility is when customer feedback affects the transformation process (Surveys, questionnaires etc.) and this affects the transformation process because feedback shapes what the businesses make.


So which one is right?! Thanks in advance

[joyg]

Is it better to have one case study that applies to quite a few dot points, or better to have multiple case studies?

It really comes down to personal preference and what you find easier to remember, for myself I found it easier to remember one which can apply to pretty much everything, e.g. Apple, while having a few a few other case studies on the side which I just built up by reading media articles and watching the news and so on just in case

[joyg]

Hello! I had a a question from operations processes- influences on the transformation process. In the first influence (4 V's), I have two different explanations for influence of visibility in two books.
One textbook says that visibility is the extent to which customers can see the operations in action (so service hasn't high visibility).
 The other textbook says that visibility is when customer feedback affects the transformation process (Surveys, questionnaires etc.) and this affects the transformation process because feedback shapes what the businesses make.
So which one is right?! Thanks in advance

The latter would be correct as the syllabus dot point it is in refers to  the influence on the transformation process. Below is just the note I had on visibility
Visibility (customer contact) or ‘feedback’ can directly affect transformation processes. This is because customers and their preferences can shape what the businesses make. Customer contact may be direct, which takes the form of customer feedback given through surveys, interviews, warranty claims and verbal contact. It could also be indirect which comes through a review of sales data that gives an indication of customer preferences and market share data, through peoples’ decision-making processes and through consumer reviews. Because businesses seek to maximise sales customer contact is essential and ultimately shapes the transformation processes.
Hopefully this helps

[kiiaaa]

Hello!
could you please help me in differentiating between government policies and legal regulations as influences on operations. they legit seems the same thing i cant tell the difference between the two

Thank you heaps!

[isaacdelatorre]

Is it better to have one case study that applies to quite a few dot points, or better to have multiple case studies?

Hey Caitlin,

I totally agree with Joyg's excellent answer!! But in the end it is up to youu!!!!

If you find that you understand the dot point using a case study and albeit a variety of case studies then be my guest - it might enable you to show contrasting uses of strategies/influences/processes and evaluate different responses.

What you will need to face is the fact that you are required to extensively use case studies in the extended response section of the HSC, which you can do through case studies you learn in class such as QANTAS, Apple, Ikea that cover each dot point. What I do want to stress is that the syllabus says "case studies" which, as a plural, implies more than one.

However, the way that  got around this is by making up my case studies on the spot, which is allowed by BOSTES (i checked with various HSC markers to see if it was allowed). This allowed me to tailor each case study that I made up into whatever argument I wanted to make which I found easier than trying to fit a set case study into the essay I was writing.

Let me know what you think of that, and if you need case studies - I have a heap already

Hello! I had a a queation from operations processes- influences on the transformation process. In the first influence (4 V's), I have two different explanations for influence of visibility in two books.

One textbook says that visibility is the extent to which customers can see the operations in action (so service hasn't high visibility).

 The other textbook says that visbility is when customer feedback affects the transformation process (Surveys, questionnaires etc.) and this affects the transformation process because feedback shapes what the businesses make.


So which one is right?! Thanks in advance

Hey Diexcel,

Joyg makes an excellent point, but I just want to point out that visibility has 2 meanings in relation to this dot point. Both of the ones you have seen in the different textbooks are right. I'm not sure why this is, I have quizzed many teachers in my school as well as senior HSC markers I have met at lectures and seminars.

For the first explanation (customers being able to see the production), the case study I had was that of Krispy Kreme. If you go into a Krispy Kreme factory/shop there is a glass wall that shows you inside the factory - from here you can see the machine that is right opposite the glass which shows the doughnuts being glazed, cooked, piped etc. This is an example of a high visibility transformation process and directly influences the product layout within the transformation process.

For the second explanation - the customer's feedback or desires affect the transformation process - i.e. a customer's order for dress alterations may affect a tailor's dress creation - having to alter the size, shape, design, colour etc. of the dress to suit the customer's needs - i.e. the product is highly customisable and highly dependent on the customer's wishes. Can also be informed by surveys etc. as you said above

Hope this helps
 

[rodero]

However, the way that  got around this is by making up my case studies on the spot, which is allowed by BOSTES (i checked with various HSC markers to see if it was allowed). This allowed me to tailor each case study that I made up into whatever argument I wanted to make which I found easier than trying to fit a set case study into the essay I was writing..

Hey I was wondering what you meant exactly by making up a case study on the spot. Did you mean it is fine to create my own hypothetical business? Or did you mean to come up with a common real life example (eg. Woolworths practicing loss leader with milk)?