How to get a Band 6 in Business Studies!

[Deng]

Can someone explain these multiple choice questions to me, thanks

[justdoit]

THANK YOU BOTH SO MUCH   

[isaacdelatorre]

Can someone explain these multiple choice questions to me, thanks

Hey Deng,

17. Flexible work structures - C
"Common methods used in job design today are developing broader, more generalised and flexible jobs, so they can attract, motivate, retain and use labour more flexibly and efficiently." Job design is basically setting up what sort of jobs the employee will do, thus having a flexible working structure is a method that employers can use to create the job structure for new employees. Common these days due to social influences of flexible working arrangements.

20. Working capital - C
Working capital is calculated through current assets-current liabilities as working capital is used for liquidity. From this we can see:
Stock + Cash + Accounts receivable - Overdraft - Accounts payable = net working capital
35,000 + 23,000 + 20,000 - 8,000 - 8,000 = 62,000

14. Cash flow statement - A
To calculate the closing balance for each month you have your opening balance + cash receipts - cash payments
The closing balance of the previous month becomes the opening balance of the next month.
From this logic, Jan starts with $2,000 then receives $12,000 but has to pay $8,000 leaving Virginia with $6,000 as her January closing balance and as her February opening balance. Keep doing this until May and you should be left with $7,000.

Hope this helps

[Deng]

Just another one, why is this one demographic and psychographic

From my understanding, it is psychographic because they are fitness-conscious however wouldnt it also be behavioural as my definition of behavioural is •   Includes customer knowledge of, attitudes towards, use of or benefits sought from the product. Gym = physical benefits

Whilst demographic is more traits that distinguishes people e.g age, income, sex etc unless its because its office people that why its demographic other than that i dont understand why it is demographic and not behavioural

[justdoit]

Demographic is specifically who are we targeting, office people. Do you remember in junor years where they ask us who is the demographic for a movie- those that like chick flicks.That is why officeworkers fit under demographic. I hope this idea helped

Behavivioural may be right, but demographic is the better answe. Its one of those annoying little MC's.

[Nicki]

just to add onto that, i think behavioural is also to do with consumer behaviour and purchasing decisions of the consumer which is influenced by their attitude and knowledge of the product e.g. the purpose of buying something (purchase occasion), how often a consumer buys a product and what customer group uses the product more than others (usage rate) and the additional benefits desired such as customer service and personal attention from staff etc.
behavioural more so refers to their behaviour when buying products rather than behaviour in their everyday life which is what i first thought when they said 'fitness conscious'... very frustrating haha
hope this helps

Just another one, why is this one demographic and psychographic

From my understanding, it is psychographic because they are fitness-conscious however wouldnt it also be behavioural as my definition of behavioural is •   Includes customer knowledge of, attitudes towards, use of or benefits sought from the product. Gym = physical benefits

Whilst demographic is more traits that distinguishes people e.g age, income, sex etc unless its because its office people that why its demographic other than that i dont understand why it is demographic and not behavioural

[Rikahs]

Hi everyone,

Could someone explain to me what a Modern Award is?

Thanks.

[Deng]

Can someone break down the mathematical aspects of FIFO and LIFO --> eg how to calculate inventory if they are given a scenario ( sorry i dont have an example to give )

I understand the definitions of each and how it works i guess, i just dont understand the maths behind it

Thanks

[Deng]

Hi everyone,

Could someone explain to me what a Modern Award is?

Thanks.

https://www.fairwork.gov.au/awards-and-agreements/awards

[kawther]

Hey Guys,

What does the dot point "Job design - general or specific tasks" mean for HR? Does "general tasks" mean that employees are given a wide range of tasks to perform, while specific tasks includes employees specialising in more of the same kind of work, so like they specialise in one activity/job?

Thank You!

[isaacdelatorre]

Guys, I didn't realise this wasn't a question thread.. I read the title and got really confused for a second.

Business Studies Question Thread

I thought this might make more sense

[Deng]

Hey Guys,

What does the dot point "Job design - general or specific tasks" mean for HR? Does "general tasks" mean that employees are given a wide range of tasks to perform, while specific tasks includes employees specialising in more of the same kind of work, so like they specialise in one activity/job?

Thank You!

To my knowledge its essentially what you said, general tasks are just basic tasks, "general", and specific tasks involves jobs being broken down into specialist skills areas and employees selected are matched to demands of jobs and are then trained.

[mattmorley]

Just downloaded them then and last week recevied your Complete Course Note books for a range of subjects which are also really good

[Priscy123]

I would just like to thank you for making this post again because it's really helped me. Because I could memorise the syllabus through this method, I managed to get nearly full marks for my first assessment task. Thanks so much!

[jamonwindeyer]

I would just like to thank you for making this post again because it's really helped me. Because I could memorise the syllabus through this method, I managed to get nearly full marks for my first assessment task. Thanks so much!

Awesome work Priscy! What an awesome start