Year 12 HSC Business Studies

Syllabus Guide

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School email address: _______________________ Google Classroom Code: _____________________ Edrolo Username: __________________________ Edrolo Password: __________________________

Subject Overview and Expectations

Assessment Tasks and Drafting You are encouraged to submit written drafts of your assessment tasks. Please remember that your teacher needs time to read them. You are able to submit a draft up until 48 hours prior to the task being due. You can submit either a hard copy or you can create a Google Doc and share it with your teacher. In the interest of fairness you can submit a maximum of two drafts per assessment task. Absences from class If you are absent from class due to sickness, VET work placement commitments or sporting commitments it is your responsibility to catch up on the course work. All coursework will be made available on Google Classroom. You are encouraged to find a buddy in class that can send you work missed if you are absent. All caught up work it to be written in your book, NOT printed off and glued in. Workbooks All students are required to complete classwork in a workbook unless medically advised. This is due to the nature of the HSC being a written exam and the need to practice writing for extended amounts of time. This will also help you develop an idea of how much you can write in set times which is vital in order to make the most of your HSC assessments and final exams.

TEC YEAR 12 SCOPE & SEQUENCE Business Studies 2019-2020

Term 4 (2019) 1 2 3 4 5 6 7 8

AT # 1 9 10

Business Studies Case Studies and Skills Operations

Term 1(2020)

Term 2 (2020) 1 2 3 4

5 6 7 8

AT # 3 9 10

Finance Human Resources

Term 3 (2020)

1 2 AT #3

3 4 5 6 7 8 9 10

Human Resources Trial HSC Revision Trial HSC HSC Revision

1 2 3

4 5 6 7 8 9 10 AT # 2

11

Marketing Finance

HSC Couse Structure

HSC course structure (120 indicative hours) Topic Indicative hours % of course time

Operations 30 25

Marketing 30 25

Finance 30 25

Human resources 30 25

10 Content: Business Studies HSC course

10.1 HSC topic: Operations 25% of indicative time

The focus of this topic is the strategies for effective operations management in large businesses.

Outcomes The student: H1 critically analyses the role of business in Australia and globally H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues H8 organises and evaluates information for actual and hypothetical business situations H9 communicates business information, issues and concepts in appropriate formats

Content Students learn to: examine contemporary business issues to: • discuss the balance between cost and quality in operations strategy • examine the impact of globalisation on operations strategy • identify the breadth of government policies that affect operations management • explain why corporate social responsibility is a key concern in operations management investigate aspects of business using hypothetical situations and actual business case studies to: • describe the features of operations management for businesses in a tertiary industry • assess the relationship between operations and the other key business functions in two actual

businesses • explain how operations strategy can help a business sustain its competitive advantage • recommend possible operations strategies for one hypothetical business

Students learn about: role of operations management • strategic role of operations management – cost leadership, good/service differentiation • goods and/or services in different industries • interdependence with other key business functions

influences • globalisation, technology, quality expectations, cost-based competition, government policies, legal

regulation, environmental sustainability • corporate social responsibility

– the difference between legal compliance and ethical responsibility – environmental sustainability and social responsibility

operations processes • inputs

– transformed resources (materials, information, customers) – transforming resources (human resources, facilities)

• transformation processes – the influence of volume, variety, variation in demand and visibility (customer contact) – sequencing and scheduling – Gantt charts, critical path analysis – technology, task design and process layout – monitoring, control and improvement

• outputs – customer service – warranties

operations strategies • performance objectives – quality, speed, dependability, flexibility, customisation, cost • new product or service design and development • supply chain management – logistics, e-commerce, global sourcing • outsourcing – advantages and disadvantages • technology – leading edge, established • inventory management – advantages and disadvantages of holding stock, LIFO (last-in-first-out), FIFO

(first-in-first-out), JIT (just-in-time) • quality management

– control – assurance – improvement

• overcoming resistance to change – financial costs, purchasing new equipment, redundancy payments, retraining, reorganising plant layout, inertia

• global factors – global sourcing, economies of scale, scanning and learning, research and development

10.2 HSC topic: Marketing 25% of indicative time

The focus of this topic is the main elements involved in the development and implementation of successful marketing strategies.

Outcomes The student: H1 critically analyses the role of business in Australia and globally H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues H8 organises and evaluates information for actual and hypothetical business situations H9 communicates business information, issues and concepts in appropriate formats H10 applies mathematical concepts appropriately in business situations

Content Students learn to: examine contemporary business issues to: • explain why goods and/or services are central to both marketing and operations • examine why ethical behaviour and government regulation are important in marketing • assess why a mix of promotional strategies is important in the marketing of goods and services investigate aspects of business using hypothetical situations and actual business case studies to: • evaluate the marketing strategies for a good or service • analyse a marketing plan for a business • explain how globalisation has affected marketing management Students learn about: role of marketing • strategic role of marketing goods and services • interdependence with other key business functions • production, selling, marketing approaches • types of markets – resource, industrial, intermediate, consumer, mass, niche influences on marketing • factors influencing customer choice – psychological, sociocultural, economic, government • consumer laws

– deceptive and misleading advertising – price discrimination – implied conditions – warranties

• ethical – truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging

marketing process • situational analysis – SWOT, product life cycle • market research • establishing market objectives • identifying target markets • developing marketing strategies

• implementation, monitoring and controlling – developing a financial forecast; comparing actual and planned results, revising the marketing strategy

marketing strategies • market segmentation, product/service differentiation and positioning • products – goods and/or services

– branding – packaging

• price including pricing methods – cost, market, competition-based – pricing strategies – skimming, penetration, loss leaders, price points – price and quality interaction

• promotion – elements of the promotion mix – advertising, personal selling and relationship marketing, sales

promotions, publicity and public relations – the communication process – opinion leaders, word of mouth

• place/distribution – distribution channels – channel choice – intensive, selective, exclusive – physical distribution issues – transport, warehousing, inventory

• people, processes and physical evidence • e-marketing • global marketing

– global branding – standardisation – customisation – global pricing – competitive positioning

10.3 HSC topic: Finance 25% of indicative time

The focus of this topic is the role of interpreting financial information in the planning and management of a business.

Outcomes The student: H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues H8 organises and evaluates information for actual and hypothetical business situations H9 communicates business information, issues and concepts in appropriate formats H10 applies mathematical concepts appropriately in business situations

Content Students learn to: examine contemporary business issues to: • explain potential conflicts between short-term and long-term financial objectives • analyse the influence of government and the global market on financial management • identify the limitations of financial reporting • compare the risks involved in domestic and global financial transactions investigate aspects of business using hypothetical situations and actual business case studies to: • calculate key financial ratios • assess business performance using comparative ratio analysis • recommend strategies to improve financial performance • examine ethical financial reporting practices Students learn about: role of financial management • strategic role of financial management • objectives of financial management

– profitability, growth, efficiency, liquidity, solvency – short-term and long-term

• interdependence with other key business functions

influences on financial management • internal sources of finance – retained profits • external sources of finance

– debt – short-term borrowing (overdraft, commercial bills, factoring), long-term borrowing (mortgage, debentures, unsecured notes, leasing)

– equity – ordinary shares (new issues, rights issues, placements, share purchase plans), private equity

• financial institutions – banks, investment banks, finance companies, superannuation funds, life insurance companies, unit trusts and the Australian Securities Exchange

• influence of government – Australian Securities and Investments Commission, company taxation • global market influences – economic outlook, availability of funds, interest rates processes of financial management • planning and implementing – financial needs, budgets, record systems, financial risks, financial

controls – debt and equity financing – advantages and disadvantages of each – matching the terms and source of finance to business purpose

• monitoring and controlling – cash flow statement, income statement, balance sheet • financial ratios

– liquidity – current ratio (current assets ÷ current liabilities) – gearing – debt to equity ratio (total liabilities ÷ total equity) – profitability – gross profit ratio (gross profit ÷ sales); net profit ratio (net profit ÷ sales); return on

equity ratio (net profit ÷ total equity) – efficiency – expense ratio (total expenses ÷ sales), accounts receivable turnover ratio (sales ÷

accounts receivable) – comparative ratio analysis – over different time periods, against standards, with similar businesses

• limitations of financial reports – normalised earnings, capitalising expenses, valuing assets, timing issues, debt repayments, notes to the financial statements

• ethical issues related to financial reports financial management strategies • cash flow management

– cash flow statements – distribution of payments, discounts for early payment, factoring

• working capital management – control of current assets – cash, receivables, inventories – control of current liabilities – payables, loans, overdrafts – strategies – leasing, sale and lease back

• profitability management – cost controls – fixed and variable, cost centres, expense minimisation – revenue controls – marketing objectives

• global financial management – exchange rates – interest rates – methods of international payment – payment in advance, letter of credit, clean payment, bill of

exchange – hedging – derivatives

10.4 HSC topic: Human resources 25% of indicative time

The focus of this topic is the contribution of human resource management to business performance.

Outcomes The student: H2 evaluates management strategies in response to changes in internal and external influences H3 discusses the social and ethical responsibilities of management H4 analyses business functions and processes in large and global businesses H5 explains management strategies and their impact on businesses H6 evaluates the effectiveness of management in the performance of businesses H7 plans and conducts investigations into contemporary business issues H8 organises and evaluates information for actual and hypothetical business situations H9 communicates business information, issues and concepts in appropriate formats

Content Students learn to: examine contemporary business issues to: • discuss the influence of government on the process of determining employment contracts • explain how businesses exhibit corporate social responsibility in the management of human resources • analyse the causes of two workplace disputes and the strategies used to resolve them • examine the advantages of a diverse, culturally competent workforce for a global business investigate aspects of business using hypothetical situations and actual business case studies to: • explain the interdependence between human resources and other key business functions • compare the process of negotiating enterprise/collective agreements with the negotiation of individual

contracts • discuss the advantages and disadvantages of outsourcing in the global market • evaluate the effectiveness of human resource management for one business and recommend

appropriate alternative strategies Students learn about:

role of human resource management • strategic role of human resources • interdependence with other key business functions • outsourcing

– human resource functions – using contractors – domestic, global

key influences • stakeholders – employers, employees, employer associations, unions, government organisations,

society • legal – the current legal framework

– the employment contract – common law (rights and obligations of employers and employees), minimum employment standards, minimum wage rates, awards, enterprise agreements, other employment contracts

– work health and safety and workers compensation – antidiscrimination and equal employment opportunity

• economic • technological

• social – changing work patterns, living standards • ethics and corporate social responsibility

processes of human resource management • acquisition • development • maintenance • separation

strategies in human resource management • leadership style • job design – general or specific tasks • recruitment – internal or external, general or specific skills • training and development – current or future skills • performance management – developmental or administrative • rewards – monetary and non-monetary, individual or group, performance pay • global – costs, skills, supply • workplace disputes

– resolution – negotiation, mediation, grievance procedures, involvement of courts and tribunals

effectiveness of human resource management • indicators

– corporate culture – benchmarking key variables – changes in staff turnover – absenteeism – accidents – levels of disputation – worker satisfaction

Business Studies - Use of formal business terms Business Reports must contain only formal business terms and avoid everyday “slang” words or phrases. Below is a series of examples of common informal terms used by students in their answers. The right column shows some more formal terms that could replace these informal terms.

Informal business terms used by students in their

responses Formal business terms that could be used

in future responses

In my business report, I will talk about...

This business report will examine....

Better, good, big, great, properly, keep on top, back on track

Effective, effectively, more profitable

Work harder, works good/better, make more products, quicker

Productivity, productive

Save money, cheaper Efficiency, efficient

keep in mind, think about, come up with, take on board Consider

Make some changes, bring in, put in place, try with, brought in

Implement, implemented

things, stuff Resources

Give an edge, make things better than other businesses, look better than the competition, gain a few steps above the competition, outdo

Competitive advantage

cutting down, make smaller, bring down Reduce, reducing

Bought, buy, buying, Get, getting, got, gotten Purchase, purchasing, obtain, receive

Either make or break a business, bring the business down, lead to a downfall, going slowly downhill, falling, going broke

Result in business failure

Stand out from the crowd, getting name out into the community

Create brand awareness

Massive, majorly, very big Significant, significantly

Get back on track, strive to its heights assist in achieving business goals

End up with, finish up with Result in

In the years to come, down the track In the longer term

Taking its toll, hurting the business, domino effect, major hit

Impact, impacting, resulting in

All the different parts working well together, all areas of business seem to work good as a whole

Synergy

HSC Business Studies Key Terms

Term Definition of term Example of words/phrases used with this term

Account

State reasons for,

report on.

Jaycar’s net profit declined by 40% in 2009. The

reasons for this include a large fall in sales revenue and an increase in administration

expenses.

Analyse

Identify components and the relationship between them; draw

out and relate implications

Staff Turnover at Madison Designs has increased from 6% to 10%, which indicates that staff have become less satisfied with their

workplace.

KFC’s rate of industrial disputes has fallen by 10% in 2009. This could mean that KFC workers are now more satisfied with their

working conditions.

Channel 9 has recently adopted a flatter management structure. The implications of

this may include clearer communication channels between senior management and

lower level employees.

Centro Shopping Centres has increased its levels of debt. This may result in higher

interest expenses in the future.

Assess

Make a judgement

of value, quality, outcomes, results or

size

Aussie Manufacturing’s net profit ratio of 53% is much better than the industry average of

25%.

The Daily Telegraphs’ 2009 sales revenue is far worse than its 2008 result

.

Compare

Show how things are similar or different

Allianz Corporation and APA Insurance both have profit ratios higher than the industry

average.

Hungry Jacks has very high debt levels, whereas Pizza Hut has a much smaller level of debt.

Contrast

or

Show how things are

different or opposite

Fantastic Furniture has a short chain of command, whereas Harvey Norman operates with a taller chain of command.

Distinguish

Note the differences between two or more

things

Apple uses a price skimming strategy for their ipods. Sakata’s has a different strategy of price penetration.

Describe

Provide

characteristics and features

One of the main characteristics of Go Lo’s marketing strategy is catalogues. Features of the catalogues include full

colour layout, photos and prices displayed in large font.

Discuss

Identify issues and provide points for and/or against

Newcastle Swimming Pools Pty Ltd is expanding into the Central Coast market. A potential advantage of this strategy is increased revenue. A disadvantage is increased expenses such as rent.

Newcastle Permanent has decided to factor

out its accounts receivables. The benefits of this strategy include increased cash flow and

reduced administration costs.

Evaluate

Make a judgement based on criteria. Examples of criteria:

• Profitability • Growth • Debt • Market Share

JB Hi Fi’s marketing strategy in 2009 has been highly successful because they increased

net profit by 30% compared to 2008.

The Power Barns current marketing strategy lacks effectiveness because they failed

to match their main competitor’s market share.

Explain

Relate cause and effect; make the relationships between things evident; provide why and/or how

Employees of Qantas may be striking because they dislike the current

management policy of outsourcing jobs overseas.

Coles has increased its television advertising in 2008, causing an increase in overall

expenses.

Rio Tinto’s expansion into China has resulted in increased sales revenue due

to an increased customer base.

Justify or

Recommend

Support an argument or conclusion Provide reasons in favour

NRMA should implement a wider span of control in its organisation. The benefits of this decision could include increased employee satisfaction, lower absenteeism and increased productivity.

Outline

Sketch in general terms. Indicate the main features

The main features of Telstra’s advertising strategy are television commercials and telemarketing.

Glossary of Key Words The purpose behind the glossary is to help students prepare better for the HSC by showing them that certain key words are used similarly in examination questions across the different subjects they are studying.

In classrooms, teachers of different subjects could use the glossary to help students to better understand what the examination questions in their subject require. Students should recognise the consistent approach of teachers of different subjects and get cues about how to approach examination questions.

For example, students would be better placed to respond to 'explain' questions if, in the context of different subjects, they developed an understanding that 'explain' could require them to relate cause and effect; make the relationships between things evident; provide why and/or how.

It is also important that the key words should not be interpreted in an overly prescriptive way. Teachers must ensure that they do not use them in ways that conflict with their particular meaning within subjects. To do this would be counterproductive. A term like 'evaluate', for example, requires a different kind of response in Mathematics from that required in History and this needs to be respected.

When using key words to construct questions, tasks and marking schemes, it is helpful to ask what the use of the term in a particular question requires students to do.

Key words are best discussed with students in the context of questions and tasks they are working on, rather than in isolation.

It is important to note that examination questions for the HSC will continue to use self-explanatory terms such as 'how', or 'why' or 'to what extent'. While key words have a purpose, they will not set limits on legitimate subject-based questions in examination papers.

Account: Account for: state reasons for, report on. Give an account of: narrate a series of events or transactions

Analyse: Identify components and the relationship between them; draw out and relate implications

Apply Use, utilise, employ in a particular situation

Appreciate: Make a judgement about the value of

Assess: Make a judgement of value, quality, outcomes, results or size

Calculate: Ascertain/determine from given facts, figures or information

Clarify: Make clear or plain

Classify: Arrange or include in classes/categories

Compare: Show how things are similar or different

Construct: Make; build; put together items or arguments

Contrast: Show how things are different or opposite

Critically (analyse/evaluate): Add a degree or level of accuracy depth, knowledge and understanding, logic, questioning, reflection and quality to (analyse/evaluate)

Deduce: Draw conclusions

Define: State meaning and identify essential qualities

Demonstrate: Show by example

Describe: Provide characteristics and features

Discuss: Identify issues and provide points for and/or against

Distinguish: Recognise or note/indicate as being distinct or different from; to note differences between

Evaluate: Make a judgement based on criteria; determine the value of

Examine: Inquire into

Explain: Relate cause and effect; make the relationships between things evident; provide why and/or how

Extract: Choose relevant and/or appropriate details

Extrapolate: Infer from what is known

Identify: Recognise and name

Interpret: Draw meaning from

Investigate: Plan, inquire into and draw conclusions about

Justify: Support an argument or conclusion

Outline: Sketch in general terms; indicate the main features of

Predict: Suggest what may happen based on available information

Propose: Put forward (for example a point of view, idea, argument, suggestion) for consideration or action

Recall: Present remembered ideas, facts or experiences

Recommend: Provide reasons in favour

Recount: Retell a series of events

Summarise: Express, concisely, the relevant details

Synthesise: Putting together various elements to make a whole

HSC Internal Assessment Specification

TEC Assessment Schedule

TASK WHEN TOPIC/S TYPE OF TASK OUTCOMES VALUE

1 Term 4 2019 Week 8 Operations Business Report H1, H2, H3, H4,

H5, H6, H8, H9 20%

2

Term 1 2020 Week 10 Marketing Marketing

Case Study H1, H2, H3, H4, H5, H6, H8, H9 25%

3 Term 2 2020 Week 8

Finance Finance Topic Test H6, H7, H8, H9,

H10 25%

4 Term 3 2020 Weeks 5 & 6 All Topics

Trial HSC Examination

H1, H2, H3, H4, H5, H6, H7, H8,

H9, H10 30%

Internal Assessment Program HSC YEAR: 2020

Year 12 Business Studies

Task number Task 1 Task 2 Task3 Task 4 Totals

Timing of task Term 4 Week 8 Term 1 Week 10 Term 2 Week 8 Term 3 Week 5-6

Type of task Business Report

20% Marketing Case Study

25% Finance Topic Test

25% Trial HSC Examination

30%

Related Outcomes H1, H2, H3, H4, H5, H6, H8, H9

H1, H2, H3, H4, H5, H6, H8, H9 H6, H7, H8, H9, H10

H1, H2, H3, H4, H5, H6, H7, H8, H9, H10

Syllabus Content Area & Weighting Operations (25% of course time)

Marketing (25% of course time)

Finance (25% of course time)

Human Resources (25% of course time)

Task weighting 20% 25% 25% 30% 100 Component Knowledge and understanding of course content

10 10 10 10 40

Stimulus based skills 0 5 5 10 20

Inquiry and research 5 5 5 5 20

Communication of business information, ideas and issues in appropriate forms

5 5 5 5 20

Component weighting % 20% 25% 25% 30% 100

Course: year 12 Business Studies HSC course: 2020

Outcomes & assessment grid

OUTCOMES COMPONENT Operations Marketing Finance Human Resources

H1 critically analyses the role of business in Australia and globally

The nature, role and structure of business

AT#1 AT#4

AT#2 AT#4

H2 evaluates management strategies in response to changes in internal and external influences

Internal and external influences on business

AT#1 AT#4

AT#2 AT#4

AT#4

H3 discusses the social and ethical responsibilities of management

AT#1 AT#4

AT#2 AT#4

AT#4

H4 analyses business functions and processes in large and global businesses

The functions and processes of business activity

AT#1 AT#4

AT#2 AT#4

AT#4

H5 explains management strategies and their impact on businesses

Management strategies and their effectiveness

AT#1 AT#4

AT#2 AT#4

AT#4

H6 evaluates the effectiveness of management in the performance of businesses

AT#1 AT#4

AT#2 AT#4

AT#3 AT#4

AT#4

H7 plans and conducts investigations into contemporary business issues

investigate, synthesise and evaluate contemporary business issues and hypothetical and actual business situations

AT#4

AT#4

AT#3 AT#4

AT#4

H8 organises and evaluates information for actual and hypothetical business situations

AT#1 AT#4

AT#2 AT#4

AT#3 AT#4

AT#4

H9 communicates business information, issues and concepts in appropriate formats

communicate business information and issues using appropriate formats

AT#1 AT#4

AT#2 AT#4

AT#3 AT#4

AT#4

H10 applies mathematical concepts appropriately in business situations

apply mathematical concepts appropriate to business situations AT#4

AT#4

AT#3 AT#4

POSSIBLE ASSESSMENT TASKS Business Report Trial HSC Examination

Marketing Case Study Trial HSC Examination

Finance Topic Test Trial HSC Examination

Trial HSC Examination

Business Studies Performance band Descriptors

The typical performance in this band:

Band 6

demonstrates comprehensive knowledge and understanding of business functions and operations

critically analyses the nature, role and structure of business

evaluates the effectiveness of management responses to internal and external influences that affect business

interprets and applies specific numerical data to analyse and solve business problems and predict future trends

synthesises contemporary business issues when evaluating management responses and strategies

clearly communicates using business terminology, concepts and comprehensive case studies in a variety of appropriate formats

Band 5

demonstrates thorough knowledge and understanding of business functions and operations

analyses the nature, role and structure of business

analyses management responses to internal and external influences that affect business

interprets and applies numerical data to analyse and solve business problems and predict future trends

applies contemporary business issues when analyzing management responses and strategies

communicates using business terminology, concepts and comprehensive case studies in a variety of appropriate formats

Band 4

demonstrates knowledge and some understanding of business functions and operations

explains the nature, role and structure of business

explains management responses to internal and external influences that affect business

interprets and applies numerical data with some analysis to solve business problems

summarises contemporary business issues with some analysis of management responses and strategies

communicates using business terminology, concepts and comprehensive case studies in descriptive formats

Band 3

demonstrates basic understanding of business functions and operations

describes the nature, role and structure of business

describes management responses

refers to numerical data when solving business problems

displays limited analysis of contemporary business issues

communicates using basic business terminology in simple formats

Band 2

demonstrates limited understanding of business functions and operations

demonstrates limited knowledge of the nature, role and structure of business

identifies management responses

uses elementary numerical data

shows limited communication skills Band 1

Guide to writing a Business Report in HSC Business Studies

In the HSC Examination, there will be TWO extended response questions (Section III and Section IV). This guide will demonstrate how to answer the first of these questions, where you take the role of a business consultant and provide recommendations about a hypothetical (fictional) business.

The standard marking criteria for this first extended response question has 4 requirements:

In your answer you will be assessed on how well you: ■ demonstrate knowledge and understanding relevant to the question ■ apply the hypothetical business situation ■ communicate using relevant business terminology and concepts ■ present a sustained, logical and cohesive response in the form of a business report

Live Plus “Live Well” and “Health Plus” are two magazines that promote sustaining a healthy lifestyle. Both have been operating for more than 8 years. The current economic crisis has resulted in both magazines experiencing a drop in sales levels. Management of both companies have decided that the most effective way to continue operating is through a merger. The new magazine will be called “Live Plus”. Management of “Live Plus” are now facing two main challenges:

1. Implementing marketing strategies to create brand awareness 2. Ensuring staff feel valued at the newly merged business

As a consultant, you have been asked to prepare a business report for the owners of “Live Plus”. In your report you must recommend marketing and human resources strategies that could be implemented to maximise business performance for “Live Plus”.

This is how a Band 6 Business Report would look for the “Live Plus” question.....

-Sustained = all sections of the report are relevant and detailed -Logical = Report has a structure that makes sense and all recommendations are justified and relevant to the question. -Business Report = Appropriate use of report format such as Executive Summary, Headings, dot points and key recommendations .

This means you must recall and apply information from the syllabus, class lessons and your textbook that is relevant to the question

= Formal business terms such as those on the syllabus and other formal terms. Eg. “synergy”.

With this type of question, you must constantly refer to the information in the question by using the name and facts from the fictional case study. There is no need to write about other businesses.

With this type of question, you will receive a case study about a fictional business such as the one seen below (“Live Plus”, a new business created from two existing businesses). When reading this type of question, you should “unpack” the information by making annotations, as seen below:

Name of business

External influence

Prime function

The key business issue

The main problems, which should be referred to in your answer

The plural “strategies” implies at least TWO recommendations for each of Marketing and Human Resources must be provided

Recommend means for each strategy, you must: 1. Identify the strategy, 2. Explain how it

would work and 3. Explain the benefits of the strategy

The two topics are Marketing and Human Resources – specifically strategies for each

“Business performance” includes factors such as:

• Sales • Profit • Market share • Brand Awareness • Staff Turnover

Note: The content in the report below applies only to this "Live Plus" example. Ensure in future questions that you do not simply reproduce what is below. The only features that stay the same in all reports is the use of an Executive Summary, headings and conclusion. The actual content used in the body of the report will change with each question depending on the case study and key verb. For example, another question may ask for finance and operations strategies. Annotations with arrows are included for the first sections to highlight important report writing features.

Business Report for Live Plus Executive Summary The following report will provide marketing and human resource recommendations for Live Plus, a newly merged healthy lifestyle magazine business which is aiming to increase brand awareness and maintain staff morale. The scope of the report will include a discussion of product branding and advertising strategies to address brand awareness concerns as well as staff training and reward strategies to address staff morale issues as identified in the brief by Live Plus. Section 1 - Marketing Strategies 1.1 Product Strategy - Branding Live Plus should hire a graphic design firm to create a logo for their new magazine that helps distinguish it from competing titles. The logo should be creative, eye catching and modern to ensure the magazine is easily noticed on crowded newsagency and supermarket shelves. Another consideration for the logo is to ensure it portrays the healthy image of the new magazine. This strategy would help improve the business performance of Live plus, with the following specific benefits:

• Repeat sales due to consumers easily recognising the magazine, thereby also meeting the objective of higher brand awareness. • Can introduce new complementary products such as Puzzle Books more easily into the market because consumers will be more familiar with the existing branding • Encourages customer loyalty due to brand loyalty, possibly enabling Live Plus management to charge a higher price for the product over the longer term. This will generate greater profits in future financial reporting periods. 1.2 Promotional Strategy - Advertising

First major heading to inform the reader about the name of the business that will be covered by the report.

An executive summary, which includes: • An underlined heading

"Executive Summary" • First sentence - purpose of

the report w ith links to the question (use of name and tw o problems)

• Second sentence - scope of the report listing specific strategies. Subheading which informs the reader that the

report will now recommend marketing strategies.

A specific marketing strategy from the syllabus. Markers prefer you write about specific strategies in detail, rather than provide a general overview of several strategies.

Explanation of how the strategy would work, with specific links to the case study – ie. the use of the name (Live Plus) and the facts from the question (reference to the “magazine” and “healthy image”).

A clear and detailed explanation of the benefits of this strategy. This is essential in “recommend” questions. Again, note how the answer constantly links back to the case study by using the name and other facts, rather than just providing a general overview that could apply to any business. Dot points have been used as a method of meeting the report writing format.

Link to the question, which used the phrase “business performance”

Live Plus should develop series of paid messages to be communicated through a mass medium. For example, the magazine could hire a celebrity with a healthy image such as fitness trainer Michelle Bridges to appear in paid advertisements through radio, television, newspapers and online media such as Facebook and twitter. The advertisements could incorporate the aforementioned new branding and include positive messages about the newly merged magazine.

This strategy would help improve the business performance of Live plus, with the following specific benefits: • Provide the magazine with the flexibility to reach an extremely large audience upon establishment, which should meet the stated objective of increased brand awareness • A successful campaign can generate greater market share by convincing large numbers of readers to purchase the Live Plus magazine. Readers could therefore be drawn away from competing titles. • Consumers may place greater trust in an opinion leader such as Michelle Bridges and thereby help Live Plus generate a positive image of their new healthy lifestyle magazine. This could improve business performance through increased sales and profits.

Section 2 - Human Resources Strategies 2.1 Staff Training Live Plus would benefit from hiring external training providers to help existing magazine employees improve their current skills and abilities, whilst also teaching staff new skills required for 21st century magazine writing and publishing. For example, a training day could be held on how to use any new technology required by the newly merged magazine. This strategy would help improve the business performance of Live plus, with the following specific benefits: • The stated objective of improved staff morale could be achieved as properly trained staff may feel more confident when carrying out their work tasks. • Employee motivation may increase with more confident staff, leading to increased productivity such as faster publishing times. Consequently, profits could increase over time. • Staff absenteeism could fall over time since better trained and more motivated employees may be less likely to register sick days. Business performance will therefore be enhanced through greater productivity. 2.2 Staff Rewards The implementation of staff rewards could be an additional method of improving morale for Live Plus employees. Monetary benefits could be provided in the form of cash bonuses if certain readership levels are achieved. Non-monetary rewards such as regular awards for high performing employees could also be implemented as a motivational tool.

This rewards strategy would help improve the business performance of Live plus, with the following specific benefits: • Magazine staff may be more motivated to improve business performance for Live Plus. For example, writers may become more motivated to secure high interest stories if cash rewards are provided for meeting readership targets. • Staff turnover (the percentage of staff separating from Live Plus) could be reduced as existing staff may feel more valued with the rewards system. This will decrease training costs such as inductions. • Sale and profits could increase over time as all staff will be more likely to work towards the common goal of increasing readership Key Recommendations

Live Plus should be able to improve brand awareness for their new magazine if the strategies of branding and advertising are implemented. Similarly, staff morale of the merged business could be enhanced through staff training and a rewards scheme. In the short to medium term, Live Plus should focus on these four key strategies. In the longer term, however, focus may need to turn to a completely new business model in the form of an online health focused website as a means of dealing with ongoing magazine circulation declines around the world.

Key Recommendations, which includes: • An underlined heading " • First sentence(s) – summary of

main recommendations • Second sentence – brief

discussion of future prospects of the business.

As with all other sections of the report, the name and facts from the case study are used.

Tips for Success

“If you FAIL to PREPARE, PREPARE to FAIL” You need to implement a study program that incorporates the creation of study notes along with practice of past HSC exam style questions If you are unsure of any content, then you need to make use of Tuesday Tutorials and Google Classroom. This guide is your best friend. Remember that you can only be assessed on the content that is presented in the syllabus (There should be no ‘surprises’) There is no point to knowing everything on the syllabus if you don't know how to adapt it to exam-style questions under time limits. Test yourself with practice papers. Find a Study Buddy. Find someone that shares the same or similar goals to your own, that way you can motivate each other (as well as celebrate your successes). Plan study sessions and stick to them. Make them a part of your routine. It's not about memorising. It's about understanding the concepts and thinking outside the box. You need to know your work inside out in order to write about it effectively in an exam. No matter how academic you are, the HSC is all about persistence and discipline. Getting a 'bad' mark on an assessment will not be detrimental to your final mark. What's important is that you learn where you went wrong, target those areas, keep practicing, improving and strengthening your work Remember that this is not going to be easy, but it is going to be worth it. Even though you may not be going in to the future with a goal to further study business, the skills that you develop will help you for the rest of your academic career, whatever that may be.