HSC Business Studies Question Thread

[fr123_]

anyone else not have a set and stone case study for business? i just try to remember random statistics on the spot which are real situations but each paragraph that i write has a different case study for different businesses so like a mixture of Woolworths, Qantas and then i talked about a small local business, is that cool?

[BrittyG]

If you're talking about your essay that's what I usually do. I generally mix and match all the businesses that I know such as Woolworths, Dominoes, McDonald's and Apple throughout my essay and using the info I need from each business.

[Razeen25]

anyone else not have a set and stone case study for business? i just try to remember random statistics on the spot which are real situations but each paragraph that i write has a different case study for different businesses so like a mixture of Woolworths, Qantas and then i talked about a small local business, is that cool?

I think in the HSC course we aren't allowed to use SME's/local businesses as case studies, as the focus shifts from SME's in prelim to global business in HSC.

[emilyygeorgexx]

I think in the HSC course we aren't allowed to use SME's/local businesses as case studies, as the focus shifts from SME's in prelim to global business in HSC.

Nope should be fine! I've used local businesses (eg. cafes) in all my assessment tasks and still managed to do very well!

[-Grace-]

Will any preliminary content be tested in the Business Studies HSC?

[emilyygeorgexx]

Will any preliminary content be tested in the Business Studies HSC?

Hey!

Specific content from the preliminary course will not be directly tested in the HSC. However, some of the information you learn in the preliminary course builds the foundation for the HSC course.

Hope that make sense

[Razeen25]

Hii, I finished my business trial but while studying for it there were a couple of things I was unsure about.

In Operations processes, the dotpoint about the 4 V's, I find it a little hard to understand the influence of visibility on the operations process. Because its customer contact, I'm still kinda confused how it impacts on operations.

Thank you!

[emilyygeorgexx]

Hii, I finished my business trial but while studying for it there were a couple of things I was unsure about.

In Operations processes, the dotpoint about the 4 V's, I find it a little hard to understand the influence of visibility on the operations process. Because its customer contact, I'm still kinda confused how it impacts on operations.

Thank you!

Hey!

I actually answered someone's question to this a while ago, so I'll just copy and paste my response below.

Definitely would define visibility in relation to the customer contact that occurs in the transformation process. For example, customised products have a high level of customer contact as the business has to interact with the customer to find out their needs and wants, which is conducted through market research. This is also due to the fact that there is an increased level of complexity and value adding occurring.

Businesses who want to reduce costs, increase speed and decrease lead times will produce standardised products to meet the homogenous needs of a mass target market, in which there would be a low level of visibility (customer contact). By producing standardised products this also gives businesses the opportunity to exploit efficiencies such as economies of scale.

Hope this helps!

[headsup]

Hey!

Just some questions from my trial paper if someone could explain:

What of the following is a transformed resource in a business manufacturing clocks?
A - Clocks
B - Customers
C - Employees
D - Facilities

What are examples of people, processes and physcial evidence for a restaurant?
A - A experienced manager, healthy food and reasonable prices
B - Friendly staff, detailed cooking instructions and effective lighting
C -  Well trained wait staff, all diners are greeted as they enter and effective advertising
D - A knowledgeable chef, attractive table settings and a menu containing many choices.

THANKS HEAPS!!

[BrittyG]

Hey!

Just some questions from my trial paper if someone could explain:

What of the following is a transformed resource in a business manufacturing clocks?
A - Clocks
B - Customers
C - Employees
D - Facilities

THANKS HEAPS!!

This question messed me up too, I remember seeing it. The answer I'm fairly sure is B - customers because throughout the process of making the customers come to the business with a need/want and this is fulfilled with the creation of the product. Therefore the customers have transformed resources as they experience change through the provision of the product (clocks).

Many people will put clocks but this is the finished product. A transformed resource I believe would be the wires that go into making the clock.

(This may be wrong but someone can correct me)

[Mada438]

Hey!

Just some questions from my trial paper if someone could explain:

What of the following is a transformed resource in a business manufacturing clocks?
A - Clocks
B - Customers
C - Employees
D - Facilities

What are examples of people, processes and physcial evidence for a restaurant?
A - A experienced manager, healthy food and reasonable prices
B - Friendly staff, detailed cooking instructions and effective lighting
C -  Well trained wait staff, all diners are greeted as they enter and effective advertising
D - A knowledgeable chef, attractive table settings and a menu containing many choices.

THANKS HEAPS!!

Hey!
I agree with BrittyG and say the answer is actually B. Here's why...
This is where it is important to know your syllabus. You can immediately eliminate D, as it is a TRANSFORMING resource (along with HR). C is also incorrect as it is also part of transforming resources. Also when you look at your syllabus, transformed resources are stated as: materials, information and customers
This leaves you with A and B. Now the case with MC questions is two are completely wrong, 1 sounds right but is actually wrong and then there is only one 100% correct answer
Now in continuing this trend, both answers SEEM correct but only one is. This is where you can discount A as Materials are comprised of the raw materials and intermediate goods which go into the operations process. While the clock would still be part of the process, it is a finished product or an output as the business is actually manufacturing the clocks, not selling them. So A seems like it could be correct, but in this case it isn't
Hence the most sensible answer is B!

With the second question...
I would also say the answer is B
Again, the syllabus is your friend as you need to have a basic understanding of each of these 3 P's and a definition for them.
By a process of elimination...
A seems to be wrong as it doesn't cover 'processes' within the 3 parts
With C 'effective advertising' doesn't sound right in this context and even if that falls under physical evidence then where does that leave the 'all diners are greeted as they enter' option
D has a similar problem with 'a menu containing many choices'-it doesn't sound right; and in the same case as Cif it is physical evidence then what is ' attractive table settings' it doesn't cover processes.
Hence i believe B is correct as it ticks all the boxes
People: 'friendly staff'
Processes: 'detailed cooking instructions'
Physical evidence: 'effective lighting'

Hope this helps! 

[EEEEEEP]

This question messed me up too, I remember seeing it. The answer I'm fairly sure is B - customers because throughout the process of making the customers come to the business with a need/want and this is fulfilled with the creation of the product. Therefore the customers have transformed resources as they experience change through the provision of the product (clocks).

Many people will put clocks but this is the finished product. A transformed resource I believe would be the wires that go into making the clock.

(This may be wrong but someone can correct me)

Here's my 2 cents =)

A - Clocks - Correct answer... clocks can be transformed into other things. You can have a basic clock that will be customised to be black or white or yellow!  Businesses do have an area in factories for customisation of products.

B - Customers  - NOT A transformed resource - Customers are not being changed. If this was a makeup or hairdressing business .. yes, but not in this case.

C - Employees  - transforming resource - used to transform inputs and information into locks
D - Facilities - transforming resource - used to transform inputs and information into locks

..THUS, A is the obvious answer =)

[emilyygeorgexx]

Here's my 2 cents =)

A - Clocks - Correct answer... clocks can be transformed into other things. You can have a basic clock that will be customised to be black or white or yellow!  Businesses do have an area in factories for customisation of products.

B - Customers  - NOT A transformed resource - Customers are not being changed. If this was a makeup or hairdressing business .. yes, but not in this case.

C - Employees  - transforming resource - used to transform inputs and information into locks
D - Facilities - transforming resource - used to transform inputs and information into locks

..THUS, A is the obvious answer =)

I had this question in my trial as well and I got it right so answer is definitely B !!

[EEEEEEP]

I had this question in my trial as well and I got it right so answer is definitely B !!

What was the teachers justification?

I'd be interested to find out as, I have received a similar question before (but it was phones), instead of clocks and the answer was "Phones".

The teacher's justification was that "Customers are not getting changed, their information is getting changed, but ultimately the phone is being modified (at some point) via a paint job or feature, according to the customers information"

Thus, customer's information are being used, but  only the phone is being transformed (key word)."

Spoiler

Customers are a transformed resource when the operations process may be changing their location, physiological or psychological state.

[zanibalh]

Hey guys,

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

Thankyou!