HSC Exam Advice Business Studies. Make sure you use a black or blue pen as all of the BST exam will be computer marked as of 2011 screen marking.

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1 exam /study tip # 16 HSC Exam Advice Business Studies Make sure you use a black or blue pen as all of the BST exam will be computer marked as of 2011 screen marking. Another major change that you must be aware of is that the HSC exam may focus a lot more on the students learn to than it has in previous exams. This will be done in addition to students learn about. Start early: any work you do for Business Studies is important. Completed HW, assessment tasks, getting teacher feedback, lesson activities, organising notes under syllabus topics and specific headings all contributes. 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 (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 and documents regarding Assessment & Reporting so that you familiarise yourself with the examination specifications and format. I have included the exam specification sheet on page 7. 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. Practise CURRENT past papers, and check the BOS online resources- Get your teacher to check your responses. Write out the plan for your answer it may count for marks, practise writing timed responses and again get them marked. Look at the BOS website for excellent student responses in previous HSC exams, this will give you a guide as to what is expected and read the examiners comments and marking guidelines. However, DO NOT forget to consider the changes to the syllabus and what is posted in the BOS website is from previous exams. So you will need to be guided by your teacher. 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, it can & does happen. The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will. Vincent T Lombardi

2 Do not write outside of the pages within your booklet (because of the computer marking process). Ask for another booklet. 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. Eg 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 2012 Specimen 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 2012 Specimen 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 & 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 mates. 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. 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. 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; choose Australian businesses where possible as it makes your understanding of the business somewhat easier and tangible. In addition the syllabus clearly states that the HSC course focuses on large businesses, many of which operate on a global scale.

3 Allocate your time carefully in the HSC exam: 1 and a half hours for Sections 1 & 2 1 and a half hours for Sections 3 & 4 Do all the multiple choice questions you can get your hands on. The 220 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: Past HSC exams Past Independent and Catholic Trial HSC papers Swap other exams and assessments with friends at other schools Use textbooks and workbooks for additional questions. When practicing past papers assess the questions that 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 the easy marks. Look at the marking guidelines and reports from the marking centre for the past HSC exams. You will also find past student responses, these are available on the Board of Studies website. Again be aware of syllabus changes. The BOS has put sample answers on their website for 2009 & 2010 HSC, again this is a very good resource. On the backpage you will find the Exam Specification Stage 6 Business Studies Syllabus (2010). IT IS IMPORTANT YOU KNOW THE EXAM SPECS. How to Answer Multiple Choice Questions You can save time in this section if you are very good at MC (multiple choice). 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.

4 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. Section II is worth as many marks as Sections III and IV put together. 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 if required but do not over answer. How to Write a Business Report Tips & Hints 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. Underline key words command words. 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). Constantly refer back to the stimulus. Structure your report follow order of the question. You will need to link 2 or may 3 HSC topics Refer to the 2012 Specimen Paper. Directly address the question being asked. For example only ONE marketing strategy is required then there is no need to address 2 or 3 marketing strategies. 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.

5 What is the Purpose of a Business Report? In the business world decision making is critical. Business people need access to information that is: concise and clearly presented easy and quick to interpret and useful to them in accurately assessing situations and making decisions. Business managers don t want, nor do they have time, to wade through paragraphs or pages of non essential information. In a growing number of businesses decision makers refuse to deal with reports or proposals that are over specified lengths. Components of a Business Report Executive Summary: Provides a brief summary of the nature and scope of the report. It is an outline of what you aim to achieve and identify or list what you will show from the syllabus. 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 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 and 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. 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. This section 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 reexamined Refer to the 2012 Specimen Paper.

6 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. 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 a case study/ies. Show real understanding in your case study. Evaluate and/or analyse issues concerning the business. 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. 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. Finally the conclusion will be an overview of your answer, what you have aimed to achieve in your introduction. Good luck with your exam preparations! TSFX More subject specific advice will be issued to students at our Essentials Final Exam Revision Lectures.

7 The typical performance in this band: Band 6 Business Studies Performance Band Descriptions 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 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

8 Structure of the Business Studies Exam Assessment and Reporting in Business Studies Stage 6 Examination specifications Stage 6 Business Studies Syllabus (2010) Business Studies HSC examination specifications to apply from the HSC 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. 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