HSC Business Studies Question Thread

[droodsh]

There are four you need to remember.

When we have a dispute in the workplace, the first thing we always do is to negotiate with the employer. This is the most efficient and least harmful method that is always the first step when attempting to resolve disputes. What this basically means is that an employee and employer privately attempt to resolve the issue internally. The employee may choose to raise questions which can be answered by the employer.

If that doesn't work, we move to a mediator, which (if you study Metropolis in English) is basically a third party member who doesn't side against any party. They listen to both sides, and attempt to suggest a solution to the dispute, in hopes to clear things up before taking legal action against the employer. The mediator is usually someone outside of the business.

If that doesn't work, the employee may choose to use a grievance procedure. This is a legal document stating a formal complaint against the employer about a misrepresentation of them within the business, and are immediately brought to the attention of the employer's supervisor. All incidences are required to be submitted within a specific timeframe following the incident. Basically, up to this point, nothing is made against the employer. The next step is where things get really serious.

If a grievance still hasn't been resolved, then we are looking into the courts and tribunals. Anything that the judge says has to be followed, is basically what has to happen at this point. The courts will decide on the outcome of the grievance, and all parties must accept the outcome to live with it.

There are two extras, not listed: arbitration and conciliation. Let me know if you want me to briefly give a rundown of either or both.

WOW opengangs!!!
Thankyou so much!!!
truly appreciate it!!
All your study will pay off for sure!!

[[MA165]]

Business reports should have no case studies. The business in the stimulus is your only case study

Thanks so much!!! 

[Opengangs]

yessss MA165 you absolutely do!! i learnt this the hard way- i got 10/20 in my trial exam due to complete lack of application of case studies throughout!!! but its ok you can usually use your case study ideas from the essay responses....

EDIT: ok now i am contradicting the boss: opengangs 

we need a dispute resolution here mediators 

Business reports should focus solely on the business at hand. In every business report question, they ask you to "apply the hypothetical business situation", which means that you should only be focusing on the business in the stimulus.

[marcorabbitolol]

Hi guys! In the HSC, are we provided with the equations for the financial ratios?

yep. as outlined here http://news.bostes.nsw.edu.au/blog/2013/6/21/official-notice-ratios-in-the-business-studies-hsc-examination

[bimberfairy]

yessss MA165 you absolutely do!! i learnt this the hard way- i got 10/20 in my trial exam due to complete lack of application of case studies throughout!!! but its ok you can usually use your case study ideas from the essay responses....

EDIT: ok now i am contradicting the boss: opengangs 

we need a dispute resolution here mediators 

I was told by my teachers to not utilise any case studies in a business report since it's tailored towards the business in the stimulus, and you should ideally only be referring to that business.

[erhulloollie]

yessss MA165 you absolutely do!! i learnt this the hard way- i got 10/20 in my trial exam due to complete lack of application of case studies throughout!!! but its ok you can usually use your case study ideas from the essay responses....

EDIT: ok now i am contradicting the boss: opengangs 

we need a dispute resolution here mediators 

well..... sorry marcorabbitolol..... in the trial i got 17/20 and only used the stimulus.....!!!
does this help resolve anything...!

[bimberfairy]

yep. as outlined here http://news.bostes.nsw.edu.au/blog/2013/6/21/official-notice-ratios-in-the-business-studies-hsc-examination

oH thank goodness. I can free up some brain space to remember other things hahaha

[[MA165]]

well..... sorry marcorabbitolol..... in the trial i got 17/20 and only used the stimulus.....!!!
does this help resolve anything...!

ahwell i didnt use any case studies and got a dismal 14!!! however i did say to increase expenses instead of minimising  but the criterias for the reports on past pprs dont ask for other case studies just apply the hypothetical situation so guess i might just do that.... Thankyou tho!!!!!!

[marcorabbitolol]

 

well..... sorry marcorabbitolol..... in the trial i got 17/20 and only used the stimulus.....!!!
does this help resolve anything...!

ok thanks guys.
thats a massive worry- coz that came from my business teacher and i even sent her my redone trial business report today with info from a case study and it still wasn't enough!!!
i think i will go by u ppl for tomorrow

{stress level: 13459889938899920987666}

[phebsh]

so, our teacher also told us not to rewrite the q as it shows a lack of deep knowledge...
however, i would suggest to use the directive terms and key words from the q in your intro!!
just a tip tho... others may have better suggestions. anyone?
btw-just noticed we do almost the same subjects!

No way hahahaha !

Thanks!

[JoyMaalouf]

Hey guys! What's the difference between redundancy and retrenchment? Thanks

[Opengangs]

Hey guys! What's the difference between redundancy and retrenchment? Thanks

Redundancy occurs when the employer no longer requires the job function that the employee is hired as. For instance, journalism are becoming redundant as technological advancements slowly take over. Thus, we say that journalism jobs are redundant. Remember, the job is becoming redundant, not the employee.

On the other hand, retrenchment refers to the inability for an employer to supply any alternative suitable employment. So, you have no job AS a result of redundancy, we call this retrenchment.

[themangopomegranate]

Hellooo, can someone please help me distinguish between marketing and selling as an approach which appears a lot in MC. Like how would I be able to determine that a given example is a marketing approach rather than selling?

E.g. [ 2012 Past Paper MC Q.6 ] A business develops a shirt made from fabric which never stains or looks crushed. It then runs an advertising campaign to inform people about this product. What type of approach is this?

a. industrial
b. marketing
c. production
d. selling

[Opengangs]

Hellooo, can someone please help me distinguish between marketing and selling as an approach which appears a lot in MC. Like how would I be able to determine that a given example is a marketing approach rather than selling?

E.g. [ 2012 Past Paper MC Q.6 ] A business develops a shirt made from fabric which never stains or looks crushed. It then runs an advertising campaign to inform people about this product. What type of approach is this?

a. industrial
b. marketing
c. production
d. selling

Production approach was the first approach established that focused on the quality of the product as a means to advertise the product. They relied on the quality, rather than needs.
Selling approach was about the advertising and being front-end about the product. They relied on the methods of door-to-door selling to push forward the product.
Marketing approach focuses on the needs and wants of the consumers, and then tailoring their product to meet those needs.

The question is about the advertising campaign end, which leans towards selling and not marketing. They most likely didn't make the product to suit the needs of the consumers, which means it's not likely the marketing approach.

[simichandani]

Hi,

Are we required to know how to do LIFO and FIFO calculations?
I've never come across them until now :O

Thanks!