HSC Business Studies Exam - Potential Answers and Discussion!

[Deng]

Honestly I f***ed up. Exam was okay but I'm so stupid I didn't realise taht response=strategies so I just put the influence and like any response I made up from my head how many marks am I going to lose ? Am I gonna get 10/20?

Oh. i did the same but i feel if they wanted strategies they would have specified, i dont believe BOSTES would make the question unclear, so as long as ur "responses" makes sense to what youre arguing then it should be fine i assume

[Emerald99]

Bro it's bostes as if they'd be so kind😂😂 and pre much everyone I've talked to said they used strategies I guess it was implied like duh you're supposed to use it , sorry I'm like venting I'm just super annoyed at myself

[isaacdelatorre]

Hey everyone,

Sorry I'm a bit late to the party, was drowning my sorrows in cookies I just bought from coles

How did everyone find the exam? I thought that some sections were quite challenging; I was really surprised when the business stimulus was an extract from a balance sheet. I also wasn't sure how to integrate the ratios they gave us as well. Did anyone have any ideas on how to do that?

Short answer was very different to most years, mainly focused on the learn to dot points and required much more interpretation and recommendation than previous exams.

I struggled a bit through multiple choice, whilst everyone else I talked to said it was easy; how did you guys go??

[Deng]

Hey everyone,

Sorry I'm a bit late to the party, was drowning my sorrows in cookies I just bought from coles

How did everyone find the exam? I thought that some sections were quite challenging; I was really surprised when the business stimulus was an extract from a balance sheet. I also wasn't sure how to integrate the ratios they gave us as well. Did anyone have any ideas on how to do that?

Short answer was very different to most years, mainly focused on the learn to dot points and required much more interpretation and recommendation than previous exams.

I struggled a bit through multiple choice, whilst everyone else I talked to said it was easy; how did you guys go??

Pretty sure you did fine Issac! MC was relatively fine for me other than the two being contested ( the low income and the shop opening one ), Short answer was relatively fine as well, found business report easy and im not sure how i went for the essay

[itsAnuu]

Hey everyone,

Sorry I'm a bit late to the party, was drowning my sorrows in cookies I just bought from coles

How did everyone find the exam? I thought that some sections were quite challenging; I was really surprised when the business stimulus was an extract from a balance sheet. I also wasn't sure how to integrate the ratios they gave us as well. Did anyone have any ideas on how to do that?

Short answer was very different to most years, mainly focused on the learn to dot points and required much more interpretation and recommendation than previous exams.

I struggled a bit through multiple choice, whilst everyone else I talked to said it was easy; how did you guys go??

Straightforward exam imo

[kevin217]

Hey everyone,

Sorry I'm a bit late to the party, was drowning my sorrows in cookies I just bought from coles

How did everyone find the exam? I thought that some sections were quite challenging; I was really surprised when the business stimulus was an extract from a balance sheet. I also wasn't sure how to integrate the ratios they gave us as well. Did anyone have any ideas on how to do that?

Short answer was very different to most years, mainly focused on the learn to dot points and required much more interpretation and recommendation than previous exams.

I struggled a bit through multiple choice, whilst everyone else I talked to said it was easy; how did you guys go??

Now that I think about it, I never referred to profit and expense ratio oops....

[spartandevil]

what is a diverse and culturally competent workforce? and what are the advantages of having one?
also what was a conflict between the short term and long term financial objectives?

[kevin217]

what is a diverse and culturally competent workforce? and what are the advantages of having one?
also what was a conflict between the short term and long term financial objectives?

Culturally competent - Allows the business to expand into international markets if they wish. (better communication with foreign clients). Diverse - Combination of new ideas, ---> teamwork --> productivity and morale.  Short term - Less cash flow because cash is used to buy stock which hurts liquidity. Long term - Needs to buy stock to fuel growth in demand and thus the financial growth of the business. At least that is what i wrote

[isaacdelatorre]

what is a diverse and culturally competent workforce? and what are the advantages of having one?
also what was a conflict between the short term and long term financial objectives?

These were both tiny dot points in the learn to sections which are rarely ever discussed in class (I know I didn't go through it) the first one isn't talked about much in the textbook, the second one is.

Diverse and culturally competent refers to the employees of different cultures, socio economic status', abilities, ages, genders; but all are learned in different cultures. This is advantageous as they are culturally aware and able to overcome issues that might hinder other business' such as language barriers, cultural appropriateness. Further, they have insight into that specific market, enabling an easier transition to operate in that market, as well as insight into how to best promote and appeal to the target market. Also, a diverse workforce is theoretically more dynamic, coming from different backgrounds and is often a goal of businesses to show that they are ethically responsible and not discriminating against potential employees, making them a popular place to work; making their business more appealing to people looking for work, hence  a larger and possibly more diverse/creative/dynamic candidate pool.

The conflict between short and long term objectives is that in the short term, is that you may have to sacrifice something in the short term to achieve something in the long term. E.g. to increase profit in the long term, you must increase costs and minimise profits in the short term by advertising, investing into more outlets, buying stock, recruiting staff in order to create growth in market share in the short term. This will enable higher sales in the long term and thus achieve long term profitability, even though costs were incurred in the beginning.

If only I could have thought like this in the exam... Hope this helps

[itswags98]

Honestly I f***ed up. Exam was okay but I'm so stupid I didn't realise taht response=strategies so I just put the influence and like any response I made up from my head how many marks am I going to lose ? Am I gonna get 10/20?

WAIT A MINUTE. WE WERE SUPPOSED TO USE OPERATION STRATEGIES AND INFLUENCES FOR THE S4 OPS QUESTION?
I was the only one in my class who did this, the rest just used operation influences... so i thought i did it wrong

[kevin217]

WAIT A MINUTE. WE WERE SUPPOSED TO USE OPERATION STRATEGIES AND INFLUENCES FOR THE S4 OPS QUESTION?
I was the only one in my class who did this, the rest just used operation influences... so i thought i did it wrong

Idk about supposed to, but I did what you did as well

[aimbotted]

i did operation influences and stratergies

[isaacdelatorre]

WAIT A MINUTE. WE WERE SUPPOSED TO USE OPERATION STRATEGIES AND INFLUENCES FOR THE S4 OPS QUESTION?
I was the only one in my class who did this, the rest just used operation influences... so i thought i did it wrong

I wasn't sure if we had to explicitly say strategies or mention them. I think I may have accidentally mentioned them, I didn't plan to but I just said how some businesses responded. They weren't textbook or syllabus strategies since I made them up and they sounded ridiculous but I just explained what I thought a business should do. Also note that you had to evaluate, so you had to have a judgement on how well a business responded to it, no use having a strategy and explaining it if you didn't say that it works

[alanabb]

I got all the same but for 7 I put d, because I thought something like a recession changing spending would be economic, but income bracket is more related to socio-economic group? Idk

[doyouevencheeto]

Asking one of the moderators here for confirmation. Say I didn't explicitly say strategies but did most of the operations influence, will I lose a lot of marks for the essay?