VCE Business Management Question Thread!

[Jason12]

how do you go about remembering all the advantages and disadvantages features of structures, it just doesn't come to me, for styles you can come up on the spot.

I got rank 1 for the first SAC, tomorrow is our second.

Is there a certain way to go about it? I just read my notes and try to remember, reading them aloud is better than in your head. Also try doing some questions involving structures as it will help with memory if you apply knowledge

[Einstein]

Do you read the notes out whilst looking?

Do you do questions with notes with you?

Sac was quite easy today I think I lost 1-2 marks. How many marks did you lose in sacs through out year?

[Joseph41]

When trying to remember content (say, advantages and disadvantages of certain management structures etc.), why not get somebody to test you? I personally found this to be the most effective way of learning content which I sort of knew, but not really.

Another (more clinical, I suppose) technique is using acronyms. For example, for POLC (itself an acronym!), I used an acronym for the five stages of planning:

1. Establish objective
2. Identify present situation
3. Develop planning alternatives
4. Select and implement the plan
5. Monitor results

I then related EIDSM back to what I know - sport - to form "Eagleton Is Dogs' Slowest Midfielder," which meant that I could just think of Nathan Eagleton and I would be set for the five-step planning process.

Best of luck! 

[Emie]

Out of curiosity, time and effort is it worth still pursuing the business management textbook questions? Since theoretically it is relatively easy, would notes and practice SAC's be better? I have asked one student who got 41, and he said that he never did textbook questions after chapter 1. Alas, this individual I regard as someone who is more talented than I am, and I am not sure if students  who studied business management and received 35+ feel the same way... Ultimately I want to get in the 40's, and will listen to any feedback on this matter.

Thank you!

Practice SACs will always be a better use of your time as they are more relevant to the actual exam than textbook questions. The latter are useful to reinforce your understanding of new concepts but I wouldn't bother completing them if you feel you comprehend the course content well. You are much better off revising your notes and completing past exam questions

[Emie]

Thanks Emie! On a side note, congratulations on your superb scores in every subject. How did you get a 50 in Bus. Man? Is it natural talent or a specific way of going about it, thanks.

Not a problem! I think natural talent only goes so far in VCE, hard work is the only way to achieve your absolute best. Try to seek as many resources as possible, through teachers, tutors, textbooks etc., learn the content well and practise your application! Don't underestimate the importance of practice SACs and exams in guiding your learning. Good luck!

[Zlatan]

Can someone tell me what chapters (from the Cambridge Textbook) make up AOS 3 ??

And also, is it worth it to stay ahead of the class ??

[Einstein]

Is that my classes pase, I tend to focus on harder subjects

[Einstein]

I defiantly agree with you. I'm not finding business easy, its all the content that's getting me all over the place, so much go remember. What did everyone critizise you on?

[Anchy]

Hi guys, two questions ere'

1. Could someone please explain the 'process layout' and 'work cells'? Need a bit of clarification about these
2. What are high margin products, high draw items and power items?

Thanks

[Zlatan]

Hi guys   

Does anyone know roughly how many students do Business Management every year ??

Also, do you have to be in the top 2% of the state to get a 45+ in Bus Man or even any other subject ?

Thanks in Advance

[Einstein]

Hi guys   

Does anyone know roughly how many students do Business Management every year ??

Also, do you have to be in the top 2% of the state to get a 45+ in Bus Man or even any other subject ?

Thanks in Advance

Hey

Last year 13,788 people sat the exam (http://www.vcaa.vic.edu.au/Documents/statistics/2013/section3/vce_business_management_ga13.pdf) and about 0.15% get 50. It is around 2% for 45+ so yeah, competition near the top end is really hard. Hope that answered your questions

[Jason12]

Hi guys, two questions ere'

1. Could someone please explain the 'process layout' and 'work cells'? Need a bit of clarification about these
2. What are high margin products, high draw items and power items?

Thanks

process layout where the product is taken to each piece of equipment e.g. if something is being packaged it will be wrapped then taken to a machine to put sticker/labels on it (random example). I think work cells are when workers are divided into teams? I'm not sure if it's part of the study design since I never got taught it. I don't think high margin product, high draw items and power items are part of the study design either because I've never heard of those before

[Einstein]

im not sure exactly what the question is asking and how to answer

- Explain the relationship between the operations function and x companies overall business objectives. Identify one level of planning that would be relevant to x operations manager. Provide examples in your answer.

[Jawnle]

Difference between efficiency and productivity?

[TimewaveZero]

Difference between efficiency and productivity?

Productivity refers to the RATIO between inputs and outputs whereas efficiency is more so about ENERGY OR TIME. Keep in mind that time and energy is are inputs, so being more efficient is also being more productive. It is also important to remember that these two terms are relative. What I mean by this is, an organisation cannot simply be efficient nor can simply be productive. It has to be relative to something. For example, making 1 pie with 2 cups of flour is more productive than making 1 pie with 4 cups of flower.