HSC Business Studies Question Thread

[zanibalh]

Also does a business report require both a recommendation & a conclusion?

[Mada438]

Hey guys,

What is the difference between cost leadership & cost based competition because reading over cost based competition has made me very confused.

Thankyou!

Cost based competition is when a business uses competing products in the industry as a benchmark, rather than considering the businesses own production costs or consumer demand.
While cost leadership is where a business aims to be the lowest cost manufacturer in their industry meaning they can sell their products cheaper than the completion and still make a profit due to their lower production/manufacturing costs.
Hope this helps!

Also does a business report require both a recommendation & a conclusion?

The way i see it, the recommendation at the end is the conclusion. Its the summary at the end of your report and in that paragraph, you'd include a recommendation

[fantasticbeasts3]

Also does a business report require both a recommendation & a conclusion?

Adding to what Mada438 said, I think it's important to integrate recommendations throughout your report. For example, if the question asks you to discuss e-marketing, you would write a few advantages and disadvantages and maybe chuck in a recommendation there. In my business reports I always put a recommendation after most things I talked about except for the questions that asked to define/explain.

I hope this makes sense :-)

[zanibalh]

Adding to what Mada438 said, I think it's important to integrate recommendations throughout your report. For example, if the question asks you to discuss e-marketing, you would write a few advantages and disadvantages and maybe chuck in a recommendation there. In my business reports I always put a recommendation after most things I talked about except for the questions that asked to define/explain.

I hope this makes sense :-)

Thanks so much guys; appreciate it!

[zanibalh]

Hey guys;
I have two questions -
1. What is the difference between e-commerce & global sourcing? They sound the same to me whenever I read over my notes.
2. When writing a business report & essay; can you incorporate diagrams in both? or just the business report?

[Mada438]

Hey guys;
I have two questions -
1. What is the difference between e-commerce & global sourcing? They sound the same to me whenever I read over my notes.
2. When writing a business report & essay; can you incorporate diagrams in both? or just the business report?

Hey!
1: e-commerce is a global marketing strategy which involves marketing and advertising your products to a global audience through the internet. Whereas global sourcing is a operations strategy and part of supply chain management and involves sourcing and obtaining your inptuts/materials from different places around the world.
2: I'm not quite sure about this one. My teacher always said it was good to have diagrams, but im pretty sure she was talking about section 3, i'm really not sure about section 4. I don't see why you couldn't? But don't quote me on that

[zanibalh]

Hey!
1: e-commerce is a global marketing strategy which involves marketing and advertising your products to a global audience through the internet. Whereas global sourcing is a operations strategy and part of supply chain management and involves sourcing and obtaining your inptuts/materials from different places around the world.
2: I'm not quite sure about this one. My teacher always said it was good to have diagrams, but im pretty sure she was talking about section 3, i'm really not sure about section 4. I don't see why you couldn't? But don't quote me on that

Thanks so much!!

What I meant was - what's the difference between econmies of scale and global sourcing.
So sorry, I was reading over e-commerce when I typed that question lols.

Thankyou!!

[rainyyydays]

Thanks so much!!

What I meant was - what's the difference between econmies of scale and global sourcing.
So sorry, I was reading over e-commerce when I typed that question lols.

Thankyou!!

hiii,
so economies of scale are the cost advantages that can be gained by producing on a larger scale (where increased production results in decreased per unit costs)- in simple terms, when producing in bulk, it becomes cheaper- and it becomes a global factor when businesses sell to global markets
however, global sourcing is when goods/services are sourced from across national boundaries to gain access to cheaper labour, materials, etc.

so the two are different as, although they both decrease production costs, the first is related to production levels and the second is relating to where the business obtains goods/services

let me know if that didn't make sense   

[zanibalh]

Hey guys,

3 questions:

1. What is a critical path analysis? How do they differ from gantt charts?
2. What are the effects of inflation?
3. How does the appreciation and depreciation of the Australian dollar affect competitons? Is this the opposite for currencies in other countries?

Thankyou so much!

[emilyygeorgexx]

Hey guys,

3 questions:

1. What is a critical path analysis? How do they differ from gantt charts?
2. What are the effects of inflation?
3. How does the appreciation and depreciation of the Australian dollar affect competitons? Is this the opposite for currencies in other countries?

Thankyou so much!

Hey!

1. A CPA is basically a sequencing method/technique that shows what tasks need to be completed, what order they need to be completed in and how long it will take to complete all the tasks. When finding the CPA you want to ensure you take the SHORTEST PATH THAT COMPLETES ALL THE NECESSARY TASKS. So basically what you need to do is find the path on the CPA that has the most days, and that will generally be the CPA (confusing I know!). This is different to a Gantt Chart because that is a scheduling method/technique that shows the different tasks that are scheduled to be completed or already have been completed. This is more to see if you can do different tasks simultaneously or what tasks needs to be completed before you start the next one, and thus allows you to track the progress of something like a project.

2. Inflation is the sustained increase in the general level of prices in the economy. So the price of a good never stays the same because they rise with inflation. The inflation target in Australia is 2-3%, so that means prices increase as inflation increase. For example, a good that costs $10 in 2010 wouldn't cost $10 in 2018 but rather may be $11, and this is because of inflation. So really in summary, inflation causes prices to rise and can be bad for consumers and businesses as it would decrease consumer spending or business investment as the prices are too high.

3. An appreciation of the AUD would make Australia less internationally competitive. This is because as the AUD increases, our exports become more expensive and therefore, no other countries want to buy our goods. Essentially, this means that if someone living in the US wanted to buy an Australian good, they would have to convert more USD to AUD to buy that good. However, an appreciation of the AUD can be good if you have borrowed money from overseas as the amount you have to repay has now decreased.

A depreciation of the AUD would make Australia more internationally competitive. This is because as the AUD decreases, our exports become cheaper and therefore, more countries want to buy our goods. Essentially, this means that if someone living in the US wanted to buy an Australian good, they would have to convert less USD to AUD to buy that good. However, a depreciation of the AUD can be bad if you have borrowed money from overseas as the amount you have to repay has now increased.

Hope that helps

[zanibalh]

Hey!

1. A CPA is basically a scheduling method/technique that shows what tasks need to be completed, what order they need to be completed in and how long it will take to complete all the tasks. When finding the CPA you want to ensure you take the SHORTEST PATH THAT COMPLETES ALL THE NECESSARY TASKS. So basically what you need to do is find the path on the CPA that has the most days, and that will generally be the CPA (confusing I know!). This is different to a Gantt Chart because that is a scheduling method/technique that shows the different tasks that are scheduled to be completed or already have been completed. This is more to see if you can do different tasks simultaneously or what tasks needs to be completed before you start the next one, and thus allows you to track the progress of something like a project.

2. Inflation is the sustained increase in the general level of prices in the economy. So the price of a good never stays the same because they rise with inflation. The inflation target in Australia is 2-3%, so that means prices increase as inflation increase. For example, a good that costs $10 in 2010 wouldn't cost $10 in 2018 but rather may be $11, and this is because of inflation. So really in summary, inflation causes prices to rise and can be bad for consumers and businesses as it would decrease consumer spending or business investment as the prices are too high.

3. An appreciation of the AUD would make Australia less internationally competitive. This is because as the AUD increases, our exports become more expensive and therefore, no other countries want to buy our goods. Essentially, this means that if someone living in the US wanted to buy an Australian good, they would have to convert more USD to AUD to buy that good. However, an appreciation of the AUD can be good if you have borrowed money from overseas as the amount you have to repay has now decreased.

A depreciation of the AUD would make Australia more internationally competitive. This is because as the AUD decreases, our exports become cheaper and therefore, more countries want to buy our goods. Essentially, this means that if someone living in the US wanted to buy an Australian good, they would have to convert less USD to AUD to buy that good. However, a depreciation of the AUD can be bad if you have borrowed money from overseas as the amount you have to repay has now increased.

Hope that helps

Absolute legend!!! Thanks alot!!!

[zanibalh]

Hey guys,

I was just going over finance -

what is the underlying difference between a right issue & a share purchase plan?

[Mada438]

Hey guys,

I was just going over finance -

what is the underlying difference between a right issue & a share purchase plan?

Hey!
The key is brokerage fees. As both are offering more shares to existing shareholders, but share purchase plans allow shareholders to purchase additional shares without these brokerage fees

[zanibalh]

Hey!
The key is brokerage fees. As both are offering more shares to existing shareholders, but share purchase plans allow shareholders to purchase additional shares without these brokerage fees

Thankyou!!

[raghav_singh]

Hi does any one have a PDF version of a case study document other than Qantas and Kathmadu, that I could integrate into my notes