Business Studies HSC Exam 2017

[austv99]

I think it should be industrial, not resource, since flour is used to help with production of other products.

[smithlewis]

Was question 17 asking about the expense ratio? Because I think the answer was the difference between gross profit ratio and net profit ratio

[elysepopplewell]

Hey could you send the copy of the paper to me as well?

Thanks

Hey! I'm sorry I won't be able to do that given that NESA would like us to wait until the papers are on their site! But if you have any burning questions about which questions where which, I can check them out for you. But if you're here for the MC, flip back to page one and see that I've updated the answers so they have the correct answer and not just the letter written next to them

[Rainbowhippocampus]

Was question 17 asking about the expense ratio? Because I think the answer was the difference between gross profit ratio and net profit ratio

Yeah question 17 is that question.  I got the same I made up some numbers and worked it out and it came out the difference between the two so I'm guessing it's right

[elysepopplewell]

Was question 17 asking about the expense ratio? Because I think the answer was the difference between gross profit ratio and net profit ratio

Question 17:
The expense ratio (total expenses divided by sales) is always...

So you could be right? What did everyone else think for this one?

[kingjimmer]

Yeah question 17 is that question.  I got the same I made up some numbers and worked it out and it came out the difference between the two so I'm guessing it's right

i concur

[bimberfairy]

Question 17:
The expense ratio (total expenses divided by sales) is always...

So you could be right? What did everyone else think for this one?

I said it was the difference between the net profit ratio and the gross profit ratio, since net profit = gross profit - expenses, so if you subtracted them both, you'd be left with expenses divided by sales.

[bimberfairy]

I thought the multiple choice was pretty good. Was surprised there wasn't a balance sheet or cash flow statement for the short answer. For the essay question, I chose the second one and looked at operations strategies closely since the question was really broad, referring only to "operations management" and then I also crept into other operations areas like the process (inputs, transformation, outputs) and performance objectives.

How did everyone approach the second essay question?

[bimberfairy]

Liquidity

Yeah I put liquidity too, but damn it if the answer's actually solvency.

[johnson28]

I can't remember the scenario so might be wrong, but for q3, i put C (opportunity to overcome a threat). Wasn't the scenario that the business extended their working hours (taking advantage of an opportunity rather than strength they possessed) to overcome the threat of increasing competition?

[bimberfairy]

I think it should be industrial, not resource, since flour is used to help with production of other products.

Yeah I put industrial because I associated the resource market with raw materials like wheat and coal. And flour's a processed product.

[aattard]

I think it should be industrial, not resource, since flour is used to help with production of other products.

I agree. Reconsidering this question I’m thinking it’s industrial. Sorry for the confusion, I was rushing which is a big no no in any exam! Learn from my mistakes. Haha.

[Juliesokha]

I thought the multiple choice was pretty good. Was surprised there wasn't a balance sheet or cash flow statement for the short answer. For the essay question, I chose the second one and looked at operations strategies closely since the question was really broad, referring only to "operations management" and then I also crept into other operations areas like the process (inputs, transformation, outputs) and performance objectives.

How did everyone approach the second essay question?

Sameee I thought the multiple choice was pretty decent and I didn't really have enough time to write the response so I ended up writing only 2 paragraphs/4 pages about supply chain management - global sourcing and outsourcing, link them with competitive advantage, touched a bit on performance objectives and mainly how those can lead the business to achieve the roles of cost leadership and product differentiation.

[bimberfairy]

I can't remember the scenario so might be wrong, but for q3, i put C (opportunity to overcome a threat). Wasn't the scenario that the business extended their working hours (taking advantage of an opportunity rather than strength they possessed) to overcome the threat of increasing competition?

Ahh, by extending their working hours, the business creates a strength for itself as it has a competitive advantage over other businesses. And because of creating this strength, it is able to overcome the threat of a new business opening up (I believe that was the scenario in the question? I don't remember it too clearly)

[aattard]

I thought the multiple choice was pretty good. Was surprised there wasn't a balance sheet or cash flow statement for the short answer. For the essay question, I chose the second one and looked at operations strategies closely since the question was really broad, referring only to "operations management" and then I also crept into other operations areas like the process (inputs, transformation, outputs) and performance objectives.

How did everyone approach the second essay question?

Couldn’t agree more. For a brief summary of what I would discuss see page one. Other ideas are totally encouraged though! Thanks.