While extended answers are marked with specific criteria for each part of the question (where applicable), they are marked holistically. In order to ensure the reliability of the labeling operation, various checks and procedures are implemented.
5 marks)
Applicants cited a range of non-financial considerations that the Grant should take into account in making its decision. the demographic base of the market. social obligations to the community. the number of hours worked by the owner. a) Based on the information available, explain which company Grant should buy. Candidates were able to explain which business Grant should buy based on the analysis of at least one indicator.
5 marks)
They concluded that the cash flow problem was due to a decrease in sales in the colder months and that expenses were high in June, probably due to toll payments. They linked the cash flow problem to falling sales and rising costs, albeit with little clear reference and understanding of the stimulus material, or less important causes such as "recession".
5 marks)
Working capital of $ - 200 shows that the company is unable to meet its short-term financial debts. Candidates displayed the working capital ratio or used the correct formula to calculate the correct answer.
5 marks)
Candidates related changes to long-term sustainable practices and especially conservation of the environment. Employees - this bad management will lower employee morale and their productivity as they feel that management has ruined the environment. ii) TWO external stakeholders in the company.
5 marks)
Candidates demonstrated a good knowledge of ratio analysis and they were able to comment on the trends shown in their calculations. However, candidates were less precise in their calculations and made limited reference to ratios in their analysis of ratios.
50 marks)
BUSINESS LAW QUESTION 27 (25 marks)
25 marks)
Typical excellent answers explained a range of consumer protection laws and discussed their relevance to the case. Average responses explained some of the current consumer protection laws, but with limited or no reference to the case.
INDUSTRIAL RELATIONS QUESTION 29 (25 marks)
25 marks)
Refer to at least ONE labor dispute you studied. a) Give an overview of the causes of labor disputes. Most candidates were able to obtain results related to:. understanding the nature and role of trade unions and employer groups in the industrial relations process. understanding the causes of labor disputes and types of industrial action. Many candidates had difficulty evaluating the available processes for resolving labor disputes and described each process instead of evaluating it.
Some candidates wrote only about the types of industrial conflicts and not about the negative and positive consequences of disputes. These case studies have shown the various causes, consequences and procedures available to resolve industrial conflicts. The cause of the industrial conflict at ICI, a chemical manufacturer in Botany, was management politics.
Candidates were more descriptive in their approach, often stating the causes of industrial conflict without reference to a case study.
MARKETING QUESTION 31 (25 marks)
PIZZA PAN
Gold Medallist in the Pizza Olympics!
25 marks)
THE RISING PROMINENCE OF MARKETING IS BAD NEWS FOR AD AGENCIES
The excellent responses showed a clear understanding of the role of marketing in achieving business goals and linked this specifically to Coolum Cola. The excellent responses provided a precise outline of all the essential components of a marketing plan with a specific application of Coolum Cola. Copyrights and patents must be monitored to ensure that Coolum Cola does not run into problems with fines or copying from other companies.
Differentiation - In order to achieve goals of increasing market share, Coolum Cola plans to differentiate into diet and decaffeinated drinks. Media Choice - Television advertising, although expensive, is appropriate as it will reach Coolum Cola's large target market. The demographic, psychological-behavioural and geographical elements of Coolum Cola's target market will be researched.
The average responses reflected a general discussion of business or marketing goals without associating them with Coolum Cola.
SMALL BUSINESS MANAGEMENT QUESTION 33 (25 marks)
25 marks)
Before starting a business venture, a number of factors must be considered to make your business successful. They must be influential to others within the business and bring everyone together to achieve the business' goals. Experience is required in a number of areas: management; the business type and the general functioning of the business.
Owners/managers must attend courses and lectures - forever learning how to quickly change their business to adapt to the dynamic business environment, how to be effective and efficient managers with a successful business, and so on. After this is completed, goals and objectives, both short-term and long-term, should be devised. The business's market must be identified, together with the product/s - goods or services - with which the business intends to deal.
Under this category is the location of the business and any necessary legislation to consider.
3 UNIT (ADDITIONAL)
BUSINESS AND TECHNOLOGY QUESTION 1 (25 marks)
25 marks)
- Costs of Change on the Internal Environment
However, only the best students were able to analyze the cost effects of technological change on the internal business environment. The candidates clearly explained how investing in technology can lead to improved organizational performance of a business and in particular how the improvement can happen specifically in Antonio's business. Electronic Data Interchange (EDI) would certainly make business processes more effective and efficient.
This system allows for effective communication in the business which is essential and will be extremely beneficial for you to implement. In the short term it is expensive for your firm, but in the long term, as your son Marco believes, the business will be improved by applying some of these methods, costs should be reduced, concepts such as TQM should be applied, leading to continuous improvement in all areas of the business, more efficient and effective communication, etc.
Candidates described, but did not explain, how technology could improve organizational performance in the business they studied.
FINANCIAL MARKETS QUESTION 3 (25 marks)
TRUST IN CASH MAKES PROFIT
25 marks)
It also aims to provide a high growth return. a) The flexible fund has not fulfilled its objectives. Most candidates were also able to do some risk and return analysis of the fund in relation to the needs of late retirees. Candidates analyzed in detail the spread and performance of the fund and gave valid reasons for not meeting the objectives of the Flexible Fund, e.g. (internal stock issues, Australian stock selection and underperformance).
All of this can reduce the fund's return and will therefore affect its unit value. This needs to be coordinated with the fund so that the fund manager can then pay the investor. If the investor has cash flow problems, the units may need to be sold or the investment recouped.
Therefore, the investor's desire for safety must be matched by the manager's desire to take risks.
HUMAN RESOURCE MANAGEMENT QUESTION 5 (25 marks)
CUSTOMER SERVICE LTD Installers Wanted
25 marks)
Ruby Supermarkets Ltd managers have been experiencing difficulties in finding full time cashiers. Most students were able to explain the general functions of human resource management as they applied to Ruby Supermarkets. Candidates provided a clear and detailed explanation of how Ruby Supermarkets could overcome its staffing challenges through better workforce management, including acquisition, development, motivation and maintenance strategies.
They gave a detailed analysis of the different methods that Ruby Supermarkets can use to downsize and they explained the legal requirements regarding these methods. Candidates gave a good explanation of how Ruby Supermarkets was able to overcome its staffing problems through better human resource management, but with fewer examples and in less depth. Candidates gave a good analysis of the different methods Ruby Supermarkets could use to downsize with less explanation of the legal requirements associated with these methods.
Candidates discussed training programs in general terms with little or no appreciation of the impact of computerization and scanners on training programs at Ruby Supermarkets.
PRODUCTION MANAGEMENT QUESTION 7 (25 marks)
- Manufacture
- Quality Assurance and Control
- Impact of Social Issues on Manufacturers and Especially the Wrigleys
- 25 marks)
This largely involves staff training and a safer production process. Fewer students successfully discussed the role of the production manager in implementing the strategic plan, such as purchasing inputs, production planning, production, assembly, packaging, and shipping. Candidates discussed in more detail the organizational, leadership and supervisory role of the production manager in the implementation of Slash Printing's strategic plan.
They analyzed in detail the impact of changes at Slash Printing on its workforce, including the changing nature of work and employment status, multiskilling, education and training. They described the types of production processes used by Slash Printing and discussed the role of the production manager in implementing the strategic plan for Slash Printing. Candidates described the types of production processes used by Slash Printing and discussed some aspects of the production manager's role in implementing the strategic plan.
They outlined some of the methods of achieving and maintaining quality control and discussed some of the effects of the changes on the workforce.
INTERNATIONAL BUSINESS QUESTION 9 (25 marks)
25 marks)
ASIAN GROWTH FORECASTS
The owner of an Australian fresh food business saw Asian growth forecasts as shown in the table below. Candidates described a wide range of advantages of international expansion into Pac Rim markets for a fresh food business, and they accurately described the opportunities arising from the changing economic and social environment in the Pac Rim. Since the introduction of Special Economic Zones in China, there has been a rapid increase in the rate of GDP growth, as these zones encourage a market-style economy, the effects of which have filtered down to an extent to China's interior regions.
India is also in the same position, with a population almost equal to that of China, but also with the availability of capital that is also necessary for the expansion of a business that does not intend to be labor intensive. General Agreement on Tariffs and Trade (GATT) - formed in 1948 to avoid a repeat of the tariff wars of the 1930s, has resulted in a reduction in manufacturing tariffs and the promotion of international trade. In the most recent round of negotiations in Uruguay in 1993, the influence of the Cairns group ensured that this round addressed the reduction of agricultural tariffs, which has been widespread, while production tariffs have been gradually reduced.
Exchange rate fluctuations can be minimized through hedging, which involves agreeing to buy or sell a certain amount of currency at a certain rate at a certain time in the future.
