exam /study tip 27 - TSFX – The School for Excellence · HSC Exam Advice – Business Studies It is imperative that you attend TSFX Winter lecture program and The Final’s lecture

HSC Exam Advice – Business Studies It is imperative that you attend TSFX Winter lecture program and The Final’s lecture program in September/October. At

these lectures you get a collection of great notes and expert advice from top quality teachers who know how to maximise your marks.

Make sure you use a black or blue pen as all of the Business Studies exam will be computer marked as of 2011 – screen marking. It makes reading your responses easier, which could ultimately benefit you.

Another MAJOR change that you MUST BE AWARE of is that the HSC exam will focus a lot more on the ‘students learn to

than it has in previous HSC exams. This has been one of the major shifts with the new Business Studies exam. This will be done in addition to ‘students learn about’.

In 2013 the BOS has released a notice that states that if there are ratios in the HSC Business Studies exam, the formulae will

be included. While this is true for Short Answer Questions, there has been no indication that the formulae will be included in the Multiple Choice section. So make sure you know your ratio formulae and don’t rely on them being provided.

Start early: Any work you do for Business Studies is important, such as attending The School of Excellence lectures,

assessment tasks, getting teacher feedback from past papers, lesson activities, websites such as ‘Tutor2U’ or Kochie’s business builders, podcasts such as Phil Holden on YouTube, BOS website or your own searches on YouTube, using study guides e.g. Excel Business Studies Study Guide textbooks such as ‘Business in Action’ textbook and I would advise to purchase the HSC Business Studies Work Book from the BOS as it provides you with Band 6 students answers to last year’s HSC.

Use the syllabus as a study guide for every topic and make your notes with the syllabus in front of you. Refer to syllabus

outcomes, students learn to (examine contemporary business issues and what students should be looking for in their case studies) and students learn about (the actual content).

Revise each topic systematically by revising and refining your notes, flash cards, mind maps. Look at BOS 2012 Business Studies Specimen Paper, 2012 & 2013 BST HSC exams and documents regarding ‘Assessment &

Reporting’ so that you familiarise yourself with the examination specifications and format. I have included the exam specification sheet in this document.

PTO

"The essential sadness is to go through life without loving. But it would be almost equally sad to leave this world without ever telling those you loved that you love them."

exam /study tip # 27

HSCedgeonline

voted number one for excellence and quality in hsc programs

HSCedgeonline

Make sure you understand the meaning of the command words set by the BOS and what they require you to do. For example compare, demonstrate, discuss, outline, recall, calculate, interpret, recommend, propose, identify, justify, describe, explain, evaluate, analyse.

You should also know that the Business Studies exam committee is increasingly using command words such as Why, What and How. Take note of the command word in Section 4 from last year’s HSC exam, it started with ‘WHY’. This required students to analyse, which is a high level Blooms command word.

It is imperative that you attend the TSFX Exam Revision lectures and workshops in September/October. At these lectures

you get a collection of great notes and expert advice from top quality teachers who know how to maximise your marks.

Make sure you use a black or blue pen as all of the Business Studies exam will be computer marked as of 2011 – screen marking. It makes reading your responses easier, which could ultimately benefit you.

Another MAJOR change that you MUST BE AWARE of is that the HSC exam will focus a lot more on the ‘students learn to

than it has in previous HSC exams. This has been one of the major shifts with the new Business Studies exam. This will be done in addition to ‘students learn about’.

In 2013 the BOS has released a notice that states that if there are ratios in the HSC Business Studies exam, the formulae will

be included. While this is true for Short Answer Questions, there has been no indication that the formulae will be included in the Multiple Choice section. So make sure you know your ratio formulae and don’t rely on them being provided.

Start early: Any work you do for Business Studies is important, such as attending The School for Excellence lectures,

assessment tasks, getting teacher feedback from past papers, lesson activities, websites such as ‘Tutor2U’ or Kochie’s business builders, podcasts such as Phil Holden on YouTube, BOS website or your own searches on YouTube, using study guides e.g. Excel Business Studies Study Guide textbooks such as ‘Business in Action’ textbook and I would advise to purchase the HSC Business Studies Work Book from the BOS as it provides you with Band 6 students answers to last years HSC.

Use the syllabus as a study guide for every topic and make your notes with the syllabus in front of you. Refer to syllabus

outcomes, students learn to (examine contemporary business issues and what students should be looking for in their case studies) and students learn about (the actual content).

Revise each topic systematically by revising and refining your notes, flash cards, mind maps. Look at BOS 2012 Business Studies Specimen Paper, 2012 & 2013 BST HSC exams and documents regarding ‘Assessment &

Reporting’ so that you familiarise yourself with the examination specifications and format. Make sure you understand the meaning of the command words set by the BOS and what they require you to do. For

example compare, demonstrate, discuss, outline, recall, calculate, interpret, recommend, propose, identify, justify, describe, explain, evaluate, analyse.

You should also know that the Business Studies exam committee is increasingly using command words such as Why, What and How. Take note of the command word in Section 4 from last year’s HSC exam, it started with ‘WHY’. This required students to analyse, which is a high level Blooms command word.

PTO


HSCedgeonline

Try the following exercise. Write the definition to the following command words: Outline:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Describe:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Explain:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Evaluate:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Analyse:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

What:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

How:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Why:

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

PTO


HSCedgeonline

Glossary:

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 judgment 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 Analysis/ Evaluate Add a degree or level of accuracy depth, knowledge and understanding, logic, questioning, reflection and quality to (analyse/evaluation)

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

PTO


HSCedgeonline

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

Practise CURRENT past papers. As the exam format has recently changed YOU SHOULD BE VERY CAREFUL WHICH PAPERS YOU USE. YOU SHOULD BE USING ALL PAPERS THAT WERE WRITTEN FROM 2012. As for papers prior to 2012, I suggest you be guided by your teacher because of the changes in the HSC topics and exam format. This means that there will some parts of pre-2012 papers that you can complete and some parts that are now irrelevant, so be very careful. Past papers that you should be using to practice include:

Past BOS HSC papers Catholic Trial papers Independent Trial papers Mohan Dhall Trial papers QATS Trial papers EBE Trail papers Total Trial papers

Check the BOS online resources, some of them are interactive, so you will get an immediate response. Practise writing timed responses and again, get them marked by your teacher and analyse their comments/feedback. Look at the BOS website for examiner comments from the marking centre and marking guidelines from last year’s

exam. This will give you a guide as to what is expected in this year’s HSC exam. www.boardofstudies.nsw.edu.au. Here is the BOS link if you want to see the notes from the marking centre from the 2013 Business Studies HSC

exam. This will help you with the 2014 HSC and it gives you an understanding as to what was done well in lasts years HSC exam and WASN’T done well http://www.boardofstudies.nsw.edu.au/hsc_exams/2013/notes/business-studies.html

I highly recommend you to go to the BOS website and order yourself the 2013 Business Studies exam workbook. In this

resource you will find actual student responses to last year’s exam, this is a highly valuable resource. Use the reading time at the start of your exam to choose the extended response question you feel most confident with OR

complete first few Multiple Choice answers in your mind. The BOS now suggests that a Band 6 answer can be written in 800 words. I have seen this done on many occasions as a

HSC marker. Do not write outside the margins of the pages within your writing booklet (because of the computer marking process). Ask

for another booklet. PTO


HSCedgeonline

Make sure you address the question being asked – knowing the specific part of the syllabus in relationship to the question helps a lot. There are absolutely no marks gained by not addressing the question. E.g. if the question doesn’t ask about a market processes then don’t put in a SWOT analysis etc. because you will not get any extra marks.

Address the rubric ‘the way you do things’, this sets the marking criteria for your answer: This is the rubric for the business report – from the 2013 HSC exam paper: 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 terminology and concepts. Present a sustained, logical and cohesive response in the form of a business report. This is the rubric for the extended response – from the 2013 HSC exam paper: In your answer you will be assessed on how well you: Demonstrate knowledge and understanding relevant to the question. Apply relevant business case study/studies and contemporary business issues. Communicate using relevant business terminology and concepts. Present a sustained, logical and cohesive response. Compare your responses - (exam practice responses) with your friends and try to get practice papers from their school.

Work in groups to improve responses. Do not ignore the ethical and corporate social responsibility, it’s an HSC outcome and it’s in every HSC topic, as is the

interdependence of the key business functions. Additionally do not disregard the topic focus which on the top of each topic in the syllabus and remember that the syllabus outcomes relate to ‘Management Strategies’.

Use acronyms to remember lists of issues. Follow instructions carefully – if asked to compare, analyse, evaluate, do it! A lot of students still find it difficult to analyse

and/or evaluate well. So marks can be picked up here if you know how to analyse and/or evaluate. Explain concepts clearly using statistics, or facts to support your views, this would be more commonly used in the Section 4

of the exam – the extended response section. Underline all parts of the question, especially the command words. Rip the question apart. Read and use the stimulus material in the short answers and business report. Use report format in Section 3 of the exam – makes it easy to mark and it’s an exam requirement In Section 4 you can write a combination of a report and essay type answer in the extended response. Know a case study well or a number of case studies well. Remember to choose case study/ies that operates on a global

scale. This is clearly stated in the first few pages in the syllabus. PTO


HSCedgeonline

Allocate your time carefully in the HSC exam, I suggest: 1 and a half hours for Sections 1 & 2 1 and a half hours for Sections 3 & 4 In the space below write down a suggested time frame for each section of the HSC Business Studies exam. Later compare it to the BOS timing suggested on an HSC exam.

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

Do all the multiple-choice questions you can get your hands on. The past HSC questions are very valuable. Don’t waste them. Use them wisely and strategically. However, remember that there are very little questions regarding Topic 1 – Operations, so once again be guided by your teacher. Other sources of questions include:

Swap other exams and assessments with friends at other schools. Use textbooks and workbooks for additional questions, as mention above. When practicing past papers assess the questions you get wrong. Don’t just look at the mark…do some analysis!! Do you

get questions wrong repeatedly on the same content areas? Are they the same style of question across a range of content areas? Get smart about what you are doing and be aware of your strengths and weaknesses. Be active about your revision. You are revising content and working on exam strategy simultaneously.

Learn definitions and formulae (these are in the syllabus for finance). Don’t throw away easy marks.

Structure of the Business Studies Exam – 2012 and Beyond

Refer to the Assessment and Reporting in Business Studies Stage 6 document on the BOS website.

Examination specifications – Stage 6 Business Studies Syllabus (2010) – see below.

Business Studies HSC examination specifications to apply from the HSC 2012.

The examination will consist of a written paper worth 100 marks. Time allowed: 3 hours plus 5 minutes reading time. The

paper will consist of four sections. Section I (20 marks) There will be objective-response questions worth 20 marks. Section II (40 marks) There will be four to six short-answer questions. Questions may be in parts. There will be approximately 12 items in total. PTO


HSCedgeonline

Section III (20 marks) There will be one question that requires an extended response in a business report format. This question will incorporate elements from across topics in the HSC course. The expected length of response will be around six pages of an examination writing booklet (approximately 800 words). Section IV (20 marks) There will be two extended-response questions. Candidates will be required to answer one question. Each question will be drawn from a different topic in the HSC course. The expected length of response will be around six pages of an examination writing booklet (approximately 800 words). Effective from 2011 for Preliminary and 2012 for HSC course Date published March 2011

How to Answer Multiple Choice Questions

You can save time in this section if you are very good at MC. Each question is worth 1 mark – so don’t waste time on a difficult question. It’s always good to start with section 1 as there is a reasonable amount of stimulus that will help you recall the information

you have studied. Use reading time to ‘mentally’ answer as many MC questions as possible. Use the process of elimination to determine the correct answer. Never leave a MC unanswered.

Short Answer Questions in the Business Studies HSC How to get the most marks!! It is easier to score full marks in Sections I and II than it is in Sections III and IV. Use the number of marks and the allocation of lines for the question as a guide. Know your key terms and concepts. You can write a good response and score no marks if you have not addressed the

directive term in the question. Extra information is not required - address the area being assessed in the question. Questions may link two HSC topics. Use the stimulus material. Structure your answers with care. PTO


HSCedgeonline

Section II is worth as many marks as Sections III and IV put together, so if you maximise your marks in this section, you can possibly get an excellent mark overall.

Always make direct reference to stimulus material provided when provided in the short answer section and report section of the paper.

Write concise answers and use point form (only if you are running out of time) and do not over answer.

How to Write a Business Report

The purpose of a report is to inform someone about a particular subject. Reports are made up of facts and recommendations or strategies on a specific subject area. Reports allow information to be presented in a structured and ordered way that makes it easy to understand. Write a PLAN – this is vital, it may count for marks. Underline key words in your answer, it could play an important role in your report mark. Determine the HSC topics being covered (do not forget the ‘Students learn to’ elements that need to be addressed)

and specific syllabus areas. Use the report format (Section 3) – makes it easy to mark, you can also write a combination of a report and essay type

answer in the extended response (Section 4) Because it is a report, the report must be addressed to the business owners. Constantly refer back to the stimulus. Structure your report carefully – follow the order of the points in the stimulus that need to be addressed. You will need to link 2 or maybe 3 HSC topics – Refer to the 2012 Specimen Paper. A detailed description is not required when the key term is ‘outline’. Highly detailed executive summaries and/or introductions, which paraphrase the stimulus and question, are not required. Where necessary, use diagrams and tables as a means of summarising facts and information. These are an effective and

efficient way of demonstrating your understanding of the question and issues being asked.

Components of a Business Report

Executive Summary/Introduction. Provides a brief summary of the nature and scope of your report. It is an outline of what you aim to achieve and identify or list what you will show/recommend from the syllabus that will answer the question.

PTO


HSCedgeonline

Body: Short preview or overview statements Shorter than "traditional essay paragraphs" that "get right to the point" Lists of main points, followed by expanded descriptions where appropriate Headings to draw attention to major points or new sections Use of bullet points. Refers back to the stimulus Selective underlining of key terms or highlighting where emphasis is required Link the sections in the syllabus that is asked in the question Inclusions where possible of graphs, tables and diagrams Expression and justification of your own point of view Strong but condensed conclusions may include evaluation, analysis or recommendations. Expectation that you know how to either analyse (draw out implications) or evaluate (make a judgment based

on criteria)

Conclusion: Summary of evaluation/analysis, it should serve to tie the report together and should clearly meet the needs of the question.

Group Work

Simon, Joe & Tania are considering opening an espresso bar in Sydney. They are self-determined and enthusiastic and have had many years of experience working in a number of espresso bars around Sydney. Simon, Joe & Tania no longer want to work for other people and have decided that they would prefer to be self-employed in their own business. After considering offers to purchase an existing espresso bar, they have decided that they will be better off establishing a new business of their own called ‘SJT Espresso Bar’. However Simon, Joe and Tania have very little experience when it comes to managing and dealing with the employment relations function of a business. As a consultant for Simon, Joe & Tania explain the importance of operation and marketing strategies for their business venture. (Write your introduction or Executive Summary in the space below)

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

__________________________________________________________________________________________________________

PTO


HSCedgeonline

Section IV – The Extended Response There will be two extended-response questions. Candidates will be required to answer ONE question. Each question will be drawn from a different topic in the HSC course. Is worth 20 marks. States in the rubric, what is required to obtain a high mark and to incorporate case study/ies material. Is a question that is written in one full sentence. The expected length of response will be around six pages of an examination writing booklet (approximately 800 words). Examines the remaining topics that were not covered in section III. However, ONE section of a different Topic may be re-

examined – Refer to the 2012 Specimen Paper.

How to Write an Extended Response The extended response allows the more able students in Business Studies to demonstrate their ability to: Achieve course outcomes at a high level Recognise and understand what the command words mean Integrate syllabus knowledge and case study/ies material to the question Provide an excellent answer to difficult and complex questions Write a long response that links business theories, concepts and processes with case study/ies. Show real understanding in

your case study. Evaluate and/or analyse issues concerning the business. Where necessary, use diagrams and tables as a means of summarising facts and information. These are an effective and

efficient way of demonstrating your understanding of the question and issues being asked. The extended response can be written in a number of ways. Students can opt to use the traditional essay style, where they

have an introduction, body and conclusion. Over the last few years students have opted to write the extended response that combines features of the traditional essay and that of a business report. This combined style consists of an introduction or executive summary, followed by the body which may consist of a number of parts. This is dependent on the question.

For example you may be asked to explain the ‘influences on financial management’. As this section deals with internal sources of finance, external sources of finance (debt & equity), financial institutions, influence of government, global market influences you would provide the theory for these areas and reinforce the theory with evidence from case study/ies. You could do this by using bullet points, underlining, highlighting, paragraphing and headings from the syllabus. At the same time you have to keep in mind the command word ‘explain’ – cause and effect.

PTO


HSCedgeonline

You will also be asked to either analyse (draw out implications) or evaluate (make a judgment based on criteria) this can also be done using bullet points, underlining, highlighting, paragraphing and headings, keeping in mind what is required from the command word. Remember that the question could also start with ‘Why’, which is asking you to analyse.

Finally the conclusion will be an overview of your answer, what you have aimed to achieve in your introduction.

Business Studies – Performance Band Descriptions 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 analysing 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. PTO


HSCedgeonline

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.

More subject specific advice will be issued to students at our “HSC Exam Blaster Workshops”.

Good luck with your exam preparations! TSFX

Documents

exam /study tip 27 - TSFX – The School for Excellence · HSC Exam Advice – Business Studies It is imperative that you attend TSFX Winter lecture program and The Final’s lecture