Setting Business Objectives, Developing Strategies and Analysing Performace

[TylerD9]

Hello guys,

The Jacaranda textbook has Setting Business Objectives, Developing Strategies and Analysing Performance as subheadings in the Business Objectives section for chapter 1 (which relates to AOS 1). However, the business objectives point to the study design for AOS 1 does not mention these three points, so I would assume they won't be in the exam? Could someone please clarify this for me? I don't want to waste space in my notes on things that I don't need.

Thank you

[Jimmmy]

Hi Tyler!

You're right in the fact that in AOS 1, they can't specifically ask you about those three points, however when you consider the Business Objectives study point and chapter reference in the Jac textbook, it does discuss the types of objectives that exist (eg. fulfilling a social need), and that does relate to setting objectives and developing strategies to achieve those objectives depending on the type of business being run.

Analysing Performance is as simple as; if the strategies to achieve objectives aren't working, change them, and if a business changes, so must its objectives. I wouldn't worry about it in AOS 1, but it becomes significantly important in Unit 4. That's how Developing Strategies links in too, as in Unit 4 you investigate a bunch of management strategies to respond to relevant Key Performance Indicators.

So in short, don't panic about it for AOS 1, but definitely read that subchapter for the AOS 1 SAC anyway, and remember that those three things (especially the last two) will be absolutely crucial in the exam.

[TylerD9]

Hi Tyler!

You're right in the fact that in AOS 1, they can't specifically ask you about those three points, however when you consider the Business Objectives study point and chapter reference in the Jac textbook, it does discuss the types of objectives that exist (eg. fulfilling a social need), and that does relate to setting objectives and developing strategies to achieve those objectives depending on the type of business being run.

Analysing Performance is as simple as; if the strategies to achieve objectives aren't working, change them, and if a business changes, so must its objectives. I wouldn't worry about it in AOS 1, but it becomes significantly important in Unit 4. That's how Developing Strategies links in too, as in Unit 4 you investigate a bunch of management strategies to respond to relevant Key Performance Indicators.

So in short, don't panic about it for AOS 1, but definitely read that subchapter for the AOS 1 SAC anyway, and remember that those three things (especially the last two) will be absolutely crucial in the exam.

Thank you heaps