PREPARING FOR THE 2016 VCE BUSINESS MANAGEMENT...
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PREPARING FOR THE 2016 VCE BUSINESS MANAGEMENT EXAM 1 Presenter: Helen Voidis WHAT WE KNOW: • The exam is on Monday 31st October at 3.00 – 5.15p.m. (Don’t leave early!) • Question and Answer Booklet • Questions in the exam include short and extended responses that make up the 65 marks (front covers released in early October – check VCAA website) • The final question will be worth 10 marks and will draw on either Unit 3 or Unit 4 or both – usually both ( see 2013, 2014, 2015 exams) • One mark questions are straight out application • Two or more marks may require a definition with application • The mark allocation indicates the depth of answer that should be provided by the student i.e. 4 marks = 4 clear points ADVICE FOR UNIT 3: CORPORATE MANAGEMENT AREA STUDY 1: Large-Scale Organisations in Context • Be specific when discussing key characteristics of an LSO – 200 + employees, assets over $200 million, multiple locations etc. • Main types of LSO’s include: Corporations, government departments, GBE’s and not for profit organisations – key differences relation to ownership and purpose e.g. Corporation driven by profits and market share owned by a few or many shareholders • We are familiar with the functional management structure as that is where operations and human resource management fits in • When talking about positive and negative contributions – provide more than just one sentence – show links e.g. provide jobs, employ 30% of the workforce, contribute to the economy, create more jobs through demand and supply • Negative impact could be the release of carbon footprint into the atmosphere affecting the community at large • When discussing external factors – identify if they are macro or operating • Consider the former carbon tax was an example of a macro pressure for change being driven by political, economic and social influences • Be clear on performance indicators – be able to define and apply and show what they are measuring – key term is they are a measure over time • Remember PI’s are used to measure efficiency and effectiveness • If the question is HR based use staff turnover, staff absenteeism or staff satisfaction measured by staff surveys – impact productivity and culture of the LSO • If the question is Operations based – go for customer complaints, level of wastage, rate of productivity growth, number of sales, customer satisfaction measured by surveys
Transcript of PREPARING FOR THE 2016 VCE BUSINESS MANAGEMENT...
PREPARINGFORTHE2016VCEBUSINESSMANAGEMENTEXAM
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Presenter:HelenVoidis
WHATWEKNOW:• TheexamisonMonday31stOctoberat3.00–5.15p.m.(Don’tleave
early!)• QuestionandAnswerBooklet• Questionsintheexamincludeshortandextendedresponsesthatmake
upthe65marks(frontcoversreleasedinearlyOctober–checkVCAAwebsite)
• Thefinalquestionwillbeworth10marksandwilldrawoneitherUnit3orUnit4orboth–usuallyboth(see2013,2014,2015exams)
• Onemarkquestionsarestraightoutapplication• Twoormoremarksmayrequireadefinitionwithapplication• Themarkallocationindicatesthedepthofanswerthatshouldbe
providedbythestudenti.e.4marks=4clearpoints
ADVICEFORUNIT3:CORPORATEMANAGEMENT
AREASTUDY1:Large-ScaleOrganisationsinContext
• BespecificwhendiscussingkeycharacteristicsofanLSO–200+employees,assetsover$200million,multiplelocationsetc.
• MaintypesofLSO’sinclude:Corporations,governmentdepartments,GBE’sandnotforprofitorganisations–keydifferencesrelationtoownershipandpurposee.g.Corporationdrivenbyprofitsandmarketshareownedbyafewormanyshareholders
• Wearefamiliarwiththefunctionalmanagementstructureasthatiswhereoperationsandhumanresourcemanagementfitsin
• Whentalkingaboutpositiveandnegativecontributions–providemorethanjustonesentence–showlinkse.g.providejobs,employ30%oftheworkforce,contributetotheeconomy,createmorejobsthroughdemandandsupply
• Negativeimpactcouldbethereleaseofcarbonfootprintintotheatmosphereaffectingthecommunityatlarge
• Whendiscussingexternalfactors–identifyiftheyaremacrooroperating• Considertheformercarbontaxwasanexampleofamacropressurefor
changebeingdrivenbypolitical,economicandsocialinfluences• Beclearonperformanceindicators–beabletodefineandapplyand
showwhattheyaremeasuring–keytermistheyareameasureovertime
• RememberPI’sareusedtomeasureefficiencyandeffectiveness• IfthequestionisHRbasedusestaffturnover,staffabsenteeismorstaff
satisfactionmeasuredbystaffsurveys–impactproductivityandcultureoftheLSO
• IfthequestionisOperationsbased–goforcustomercomplaints,levelofwastage,rateofproductivitygrowth,numberofsales,customersatisfactionmeasuredbysurveys
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• IfthequestionrelationstoChange–netprofitfigures,percentageofmarketshare
• BeclearonstakeholdersandtheirrelationshiptotheLSO–theycanhaveconflictinggoalsandinterests
AREASTUDY2:InternalEnvironmentofLarge-ScaleOrganisations
• Beabletodiscussthethreemanagementstructurestogetherwithboth
advantages(canbeusedtojustifyachoiceofstructure)anddisadvantages–functional,divisionalormatrix
• Understandcorporatecultureanditslinkstoproductivity,managementstylesandethicsandsocialresponsibility
• Beclearonthefourmanagementroles:• Planning–strategic,tacticalandoperational–ifthescenarioidentifies
onebesuretomentionite.g.outsourcingtoChinawouldbepartofstrategicplanningundertakenbytheCEOandtheseniormanagementteam
• OrganisingisallaboutallocatingtasksandstafftotheactivitiesoftheLSO
• Leading–explainthisintermsofinterpersonal,informationalanddecision-makingqualities
• ControllingisallaboutevaluatingperformancecanrefertoPI’sinyouranswer
• Policydevelopmentispartoftheseniormanagementteam’sfocusandisessentialinaninductionprogram–againmakethoselinkswithvariouspartsofthecourse
• Understandthedifferentmanagementstyles–useautocraticonlyinatimeofcrisisandsuggestconsultativeorparticipativeasthealternativesbasedonthescenario–alwaysidentifykeyfeaturesthatrelatetocommunication,decisionmaking,control–onewayortwoway;centralisedordecentralisedcontrolandjustifyyourchoiceclearlyreferringbacktothescenario
• Keymanagementskillsneedstobedefinedandthenappliedtothescenario–ifyouaretalkingaboutanautocraticmanagerthenrefertoskillslikecommunication,timemanagementorproblemsolving
• Participativemanagerswoulddelegate,negotiate,useteamworkskillsandemotionalintelligence
• Neverconfuseskillswithroles!
AREASTUDY3:TheOperationsManagementFunction
• UnderstandwhatOperationsManagementisandtheroleoftheOperationsManagerinanLSO-involvestheoverseeingoftheproductionprocessofagoodorservice
• BeabletocomparethecharacteristicsofOMinrelationtomanufacturingandserviceindustriesandtalkabouthowinserviceindustriestheproductistailoredtotheneedsoftheconsumermakingproductivityhardtomeasure
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• Withthekeyelementsofanoperationsystemremembertoexplainwhatinputs,transformationprocessandoutputsarebeforeyouapplythesetothescenario–bothmanufacturingandserviceLSO’susethesebutitisintheprocessandtheoutputthattherearedifferences–bothstilluseinputs
• Understandthelinkbetweenproductivityandbusinesscompetitivenessifyoucanreduceyourcostsorincreaseyouroutputwiththesameamountofinputthenyoucanbegainacompetitiveedgebecauseyoucanreduceyourprices,productdifferentiateordelivertheproductinashorterspaceoftime
YOUMUSTKNOWYOUR4STRATEGIESTOOPTIMISEOPERATIONS:• Facilitylayoutanddesign–allaboutplanningthelayoutsothat
productionwillflowsmoothlyandefficiently–remembertherearethreelayouts–twoformanufacturing–fixedpositionlayoutandproductlayoutandonethatappliestoallothertypes–processwhichallowsformorespecialisedproduction
• MaterialsManagementisallabouttheuse,storage,anddeliveryofmaterialstomakesurethattherightamountofinputsisavailablewhenrequired–JITisstrategytohelpmakethishappen–rightamountarrivesjustasyouneedit–reducingtheneedforstorage,limitingwaste–butyouneedareliablesupplierwhocandeliverontime
• TheManagementofQualityinvolvesmakingsurethattheproductmeetscustomerexpectationsandtherearethreeapproachesthatcanhelpOperationsManagersachievethis–QualityControl,QualityAssuranceandTotalManagementQuality–eachhasadifferentfocuswhichneedstobeexplainedandappliedtothescenario
• Technology–usingtoolsandknowledgetoimproveefficiencyandcompetitiveness.
• Technologiesusedinbusinesstodayinclude:photocopiers,mobilephones,GPS,printers,computers–IPad’s,laptops,videoconferencingInternet–changesthetransformationprocess
• ManufacturingtechnologyincludesRobotics,CADandCAM• ImpactofE-commerce
ETHICSANDSOCIALRESPONSIBILITY
• AppearsineachofthethreeAreasofStudyinUnit3• Ethics=whatthebusinessdoesthatismorallyrightorwrong–itis
aboutmanagementbehaviourtowardsotherstakeholders,• SocialResponsibilityrelatestotheobligationsofanLSOgoingbeyond
thelegalrequirements.Itislinkedtothewell-beingofstakeholderse.g.customersandemployees,beingmoreenvironmentallyfriendlyandgivingbacktothecommunitythroughcharityworkandcommunitysponsorship
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ADVICEFORUNIT4:MANAGINGPEOPLEANDCHANGE
AREASTUDY1:TheHumanResourceManagementFunctionFactorsinvolvedinhumanresources:
• WhatisHRall–focusesontheeffectivemanagementofemployeesinanLSO
• Employeeexpectationsarelinkedtoconditionsofemployment,jobsecurity,OH&Sandworklifebalance–whichiscloselylinkedtomotivationandemployeerelations
• Besureaboutthekeyprinciplesofeachofthethreemotivationaltheoriesandbeabletoapplytheseclearlytoagivenscenario(Maslow,Herzberg&Locke)
• Dosamplequestionsrelatedtoallthreetheories–beabletoapplytoagivenscenario–showsyouunderstandhowthetheoryworks
Managementpracticesandprocessesinvolvedwiththeemploymentcycle:• Linkplanningtojobanalysisandjobdesignaspartoftheestablishment
phaseandthedevelopmentofajobdescription• Beabletodiscussdifferentrecruitmentmethods–internalandexternal• Understandafivestepprocessforselection–listanddescribeeachstep• Inductionaspartofmaintenanceislinkedtostaffretention–itisall
abouttheprocessofintroducingnewemployeestotheorganisation• Beclearonthedifferencebetweenrecognitionandrewardandprovide
examplesofeach• Understandtheperformancemanagementisallaboutaccountabilityand
islinkedtotraining,promotionandfeedbacktoemployeeswhichcanalsobelinkedtoLocke’stheoryofmotivationandtheterminationphase
• WiththeterminationphasebeabletotalkabouttransitionissuesthataHRmanagerundertakesinsituationsofredundancyorretrenchment–likecounselling,training,redeployment,referrals
• WithEmployeeRelationsensureyoucandistinguishbetweenacentralisedanddecentralisesystemofER
• Beabletodefineindustrywideawards,collectiveagreementsandindividualcontracts
• Rememberthatproductivitygainscanbeincludedinacollectiveagreement
• FairWorkCommissionisnowthebodythatoverseesthisarea• HRindecentralisedERandwoulduseaparticipativestyleof
managementandofcoursenegotiationwouldbeakeyskill• ConflictresolutionhasanumberofstepscommencingwithNegotiation,
Mediation,Conciliation,Arbitration
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• Ifthereisabreakdownintheemploymentrelationshipthiswillbeindicatedbyindustrialactionlikestrikes,worktoruleetc.–whichwillhaveanimpactontheoperationsoftheLSO
• Understandthedifferencebetweenprotectedandunprotectedindustrialactionandwhenthisoccurs–i.e.beforeanewcollectiveagreementislodgedwithFWCandisimplementedattheworkplacelevel
AREASTUDY2:TheManagementofChange
• Beabletodefinetheconceptofchange-theprocessofalteringpartsorall
oftheorganisation• Identifytheinternalandexternalpressuresforchangewhichofcourse
formthebasisofdrivingforces• Restrainingforces–keyexamplesareemployees,timeandcost• BeclearaboutKotter’stheory–thereare8stepsthatyouneedtolearnto
beabletoexplainandappliedtothescenario–youmustunderstandthese
• Recognisethatlowriskpracticespromoteharmonyandstaffinvolvementwhereashighriskpracticescreateacultureofmistrustandresentment–withthreats,manipulationandco-aptation
• Againifyouaretalkingaboutleadershipinchangerefertothethreequalities–interpersonal,informationalandofcoursedecision-making
• IfyouarediscussingtheimpactofchangeonanLSOdosointermsofthestructure,theoperationsprocessandhumanresourceelement
• HaveangoodexampleofanLSOthathasundergonechangeandrefertothiswithyoursignificantissue
Don’tforgettorevisitethicsandsocialresponsibility-itisacriticalpartofthecoursethatappearsacrossallfivekeyAreasofStudyanddrawonthescenariotoprovideexamplesifthequestionasksforit.FINALTIPS:
• Duringreadingtime,scanthepaper,workoutwherethe35marksareandthengobackandreadthequestionscarefully
• Theexamisdesignedtotaketwohours–somakesureyoustaythereforthefulltwohoursandfifteenminutes
• Ifyouarerunningoutoftimethenputsomethingdownforthequestionsyouhavenotfullyanswered
• Writeinpenblackorblue–nopencilsplease–examsarescannedandmarkedviacomputer
• Linkkeyareasofthecourseinyouranswers–thatiswhatthebusinessexamisallabout
• Ifyouhavetimerereadyouranswersandcheckwhatyouhavewrittenhasinfactansweredthequestion
• Ifyougetstuckrewordthequestion–workoutwhatisitaskingyou• CreateWOWfactoranswersthatshowcaseyourknowledgeand
understandingofthecourse.• UseexamplesofLSO’sthattheassessorswillbefamiliarwith
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STEMWORDSUSEDINTHE2015EXAM
STEMWORD WHATTODOOutline Giveabriefdescriptionofsomething–couldbeabusiness
term
Explain Adetailedanswerstatinghowandwhysomethingoccursoroperates
Describe Giveadetailedaccount,includesignificantcharacteristics,featuresofatermwithsomedetail
Discuss Amoredetailedanswerwithbothpointsofview
Distinguish Toshowpointsofdifferencebetweentwobusinessconcepts;highlightthedifferencesbetweenthetwo
Analyse Breakdownintocomponentsoressentialpartsandexamine
Justify
Givereasonsforyourstatement/s
INPREVIOUSEXAMPAPERS:
Compare Explainwhatissimilar(first),thenwhatthekeypointsofdifferenceare
Evaluate Lookatthedifferentarguments;strengthsandweaknesses,theadvantagesanddisadvantagesandthenmakeapersonaljudgementinfavourofoneortheotherasanoutcomeorwithareason
Identify Providethekeycharacteristicsorfeatures;giveanexampleofsomething(MORETHANJUSTNAMING,ORLIST)
Define Explainthemeaningoftheterm–youcanuseanexampletosupportyouranswer
GOODLUCK–YOUCANDOIT!
