SAMPLE TEACHING PROGRAM for the HSC Business Studies Course in NSW

Transcription

1 SAMPLE TEACHING PROGRAM for the HSC Business Studies Course in NSW Using page references and examples from Business Studies in Action: HSC Course 3e S. Chapman, C. Norris, N. Devenish, L. Merritt Prepared by S. Chapman Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 1

2 Topic 1: Business management and change Timing: 20% of indicative time Focus: The focus of this topic is to examine the nature and responsibilities of management within a changing business environment from a theoretical and practical perspective. The student: Syllabus outcomes Students learn to: Syllabus content H2.1 describes and analyses business functions and operations and their impact on business success H3.1 explains management theories and strategies and their impact on business H3.2 evaluates the effectiveness of management in the organisation and operation of business and its responsiveness to change Use existing business case studies to investigate and communicate ideas and issues related to business management and change. The focus of these case studies will be to: analyse how management theories apply to various situations explain and evaluate how change is managed in one or more businesses. H3.3 analyses the impact of management decision-making on stakeholders H4.1 critically analyses the social and ethical responsibilities of management H4.2 evaluates management strategies in response to internal and external factors A fully integrated case study Lend Lease (Chapter 24) is to be used in conjunction with the relevant topic chapters.) H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms. Resources: Business Studies in Action HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt John Wiley (Jacaranda) 2005 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 2

3 1.1 The nature of management Syllabus H2.1 H3.2 H3.3 H4.1 H5.1 H Traditional and contemporary definition of management 2. The importance of effective management 3. Management roles - interpersonal - informational - decisional - Revise the role of management examined in the Preliminary Course. - Introduce the key aspects of the management process by discussing figure 1.3 p6. - Construct a mind map summarising the five key aspects of the management process p6. - Read pp9-12. Under the headings interpersonal, informational and decisional elaborate the ten roles managers must adopt according to Mintzberg s observations. - Analyse cartoon figure 1.11 p13 and read Table 1.1 p14. Discuss the myths and realities of management roles. - Discuss Snapshot Winnie-the-Pooh on management pp Skills of management - people skills - strategic thinking - vision - flexibility and adaptability to change - self-managing - teamwork - complex problem-solving and decision-making - ethical and high personal standards - List the desired skills needed to perform the management positions shown in figure 1.12 p16. - List the ideal characteristics (skills) managers should possess shown in Biz Fact p17. - Construct a mind map to summarise these skills by reading pp Read Snapshot Steven Kargill p18. Identify the management skills used by Steven Kargill. - Discuss Snapshot The 7 habits of highly effective people p20. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 3

4 Syllabus - Distinguish between ethical and unethical behaviour. - Class debate: Management can make employees behave more ethically. - Read and discuss Snapshot Ethical behaviour in the boardroom p22. - Compile a newspaper folio of businesses reported for unethical behaviour. Select two articles and write a line summary of each. 5. Responsibility to stakeholders; reconciling conflicts of interest - Define the term stakeholder p24. List the stakeholders of your school. - Read Snapshot Wesfarmers Limited community participation p25. (a) Outline how Wesfarmers fulfils its community obligations. (b) Go to and access the Wesfarmers website. Report about Wesfarmers commitment to: (i) the environment (ii) employee safety (iii) public reporting (iv) arts sponsorship. - Draw figure 1.16 p26. Under each responsibility prepare an executive summary by reading pp Group work. Suggest methods a business could use to reconcile the following: (a) Consumers demanding cheaper products and employees wanting higher wages. (b) Shareholders desiring a higher return on their investment and society wanting a cleaner environment. - Internet activity. Go to and access the Drucker Foundation s website. Select and read an article that deals with an area of management. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 4

5 1.2 Understanding business organisations with reference to management theories Syllabus H3.1 H5.1 H The nature of management theories 2. Classical-scientific management theory - management as planning, organising and controlling - hierarchical organisational structure based on division of labour - autocratic leadership style - Individual investigation /oral presentation. Examine figure 2.2 p32. Select three contributors to management theory and provide a brief report on their contribution. Present your report to the rest of the class. - Provide a definition of scientific management p33. - Investigate how Ford Motor Company and McDonalds have incorporated aspects of classical-scientific management theory p34. - Distinguish between strategic, tactical and operational planning p36. - Outline the three activities involved in the organisation process p Draw figure 2.9 p37 and then evaluate the importance of the control process. - Revise the controlling process from the Preliminary course p37. - Group work. List and evaluate the effectiveness of the controlling processes that operate within the school. - Define division or specialisation of labour p38. - Examine figures 2.11 p38 and 2.12 p39. Outline how the practice of division of labour has influenced the organisational structure of many businesses. - Investigate a number of company annual reports and describe the organisational structures of each business. - Read pp and construct a mind map summarising the three main types of leadership styles. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 5

6 Syllabus 3. Behavioural management theory - management as leading, motivating, communicating - flat organisational structure, teams - participative/democratic leadership styles - Individual research. Investigate the Hawthorne effect and two significant results of Elton Mayo s Hawthorne studies. - Read and discuss Snapshot Elton Mayo pp Imagine you are a manager for a small business. Students answer the following question. Explain what impact Mayo s research would have on: (a) how you would organise the workplace. (b) the management practices you would use. - Access the web site of Andersen Consulting and search for information on leadership. Select an article and prepare an executive summary. - Read Snapshot Daring leadership for the twenty-first century p44. - Discuss what, according to Dorothy McRae-McMahon, the nature of leadership involves. - Brainstorm the techniques that can be used to motivate people. Discuss which techniques are the most effective. - Read and discuss Snapshot Create the conditions for authentic motivation p46. - Describe the relationship between motivation and employee productivity. - Explain why effective communication is crucial within a business pp Construct a hierarchical and flat management structure. Contrast the two diagrams by listing their differences pp Demonstrate by role-play the advantages of teamwork p49. - Brainstorm some of the strategies a manager could use to develop a sense of cohesion within a work group. - Outline the main features of participative or democratic leadership style p50. - Discuss Snapshot Marc Lewis management consultant p51. - Group work. Compare and contrast autocratic and participative/democratic leadership styles. Identify situation when either style is appropriate. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 6

7 Syllabus 4. Political management theory - uses of power and influence, management as negotiating and bargaining - structure as coalitions - stakeholder view - Define term politics p52. - Identify and explain the central ideas of the political management theory pp Discuss figure 2.22 p53. Relate this to students own experiences. - Elaborate on the use of power as explained by Claire Polosak p53. - Examine figure 2.24 p55. Consider the sources of power in leading. - Role-play negotiating/bargaining situations. Record observations. - Read Biz Fact Win-win p55. Discuss why a win-win attitude is important for negation in a workplace. - Critically analyse the organisational iceberg in figure 2.25 p Strengths and weaknesses of the classical, behavioural and political approaches - Refer to table 2.1 pp Identify three strengths and three weaknesses of each management theory. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 7

8 Syllabus 6. Systems/contingency management theory adapting management and organisational approaches to circumstances - Outline a number of familiar systems e.g. transport, blood, school. - Examine figure 2.27 p59. Explain how management theories have evolved over time. Briefly outline the main features of each theory shown. - (a) Construct a diagram of the school showing how a system operates. (b) Identify and list the inputs and outputs, describe processes and explain how feedback occurs p60. - Using relevant examples, outline the main features of contingency management theory. Draw upon students own experiences. - Discuss figure 2.29 p61. Have students add and justify extra commandments for the modern manager. - Individual research. (a) Outline the purpose of management theory. (b) Explain how knowledge and understanding of management theories can assist a manager in his or her work. Use examples to illustrate the answer. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 8

9 1.3 Managing change/ change and social responsibility Syllabus H3.2 H4.2 H5.1 H Nature and sources of change in business external influences: - the changing nature of markets - economic - financial - geographic - social - legal - political - technological developments - Prepare a class list of changes in music, fashion or entertainment over last twenty years. - Discuss meaning of saying; there is only one constant in business and that is change. - Read Snapshot Change will it ever end? pp Discuss why change can be difficult to manage. - Draw figure 3.1 p67. Distinguish between external and internal sources of change. - Outline the process of globalisation p68. - Group work. Each group to prepare a summary for one external influence pp Have each group report back to the rest of the class. - Extension activity. From newspapers, books, magazines and the Internet, collect ten examples of external influences on business operations. Select two articles and prepare a 10 line executive summary. - Internet activity. Go to and access the websites for the: (a) Australian Competition and Consumer Commission (ACCC) (b) Australian Investment and Securities Commission (ASIC). Find recent articles relating to investigations conducted by both organisations. Share and discuss these with other class members. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 9

10 Syllabus internal influences: - effects of accelerating technology including e- commerce - new systems and procedures - new business cultures - Define the terms technology and e-commerce pp Examine figure 3.6 p74. Discuss the impact of technology on: (a) work practices (b) interaction between employees (c) the issue of surveillance. - Explain the nature of business culture. Read and discuss Snapshot Creative culture the Branson way structural responses to change: - outsourcing - flat structures - strategic alliances - networks - Define term structural change p78. - Brainstorm a number of structural changes that have recently occurred within the school s operations. - Examine figure 3.9 p79. Discuss the message the cartoonist is conveying. - Draw figure 3.10 p80. Brainstorm the advantages and disadvantages of flatter management structures. - Prepare a list of arguments in favour of strategic alliances p80. - Internet activity. Go to and access Digital Computers website. Prepare a brief report on the value of Digital s strategic alliances. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 10

11 Syllabus 2. Reasons for resistance to change financial costs including: - purchasing new equipment - redundancy payouts - retraining - reorganising plant layout - (a) Ask students to explain how they would feel if the classroom seating arrangements were changed so that they sat at designated seats. (b) Analyse why there would be resistance to this change. - Point summary of main financial costs responsible for some businesses resisting change pp inertia of managers, owners - (a) Outline the term inertia management p83. (b) Students to recount personal situations of inertia. cultural incompatibility in mergers/takeovers - Read and discuss Snapshot World s largest corporate loss - $A168 billion p84. Explore the reasons for the cultural incompatibility. staffing - de-skilling - acquiring new skills - loss of career prospects/promotional opportunities - Group work. Assume you are the human resources manager for a large financial organisation. You have been asked by the board of directors to prepare a report on the three main staffing reasons for change being resisted. Present your findings either as a written or oral report pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 11

12 Syllabus 3. Managing change effectively - identifying the need for change - setting achievable goals - creating culture of change (encouraging teamwork approach using change agents) - Class discussion. Suppose that as a manager you were required by the CEO to implement a change that you personally opposed. What would you do? - Brainstorm strategies for reducing resistance to change. Compare with figure 3.16 p88. - List two planning tools that can be used when trying to identify the need for change p88. - Outline why setting achievable goals can help managers implement change more successfully p88. - Brainstorm the strategies that could be used to prepare the school for a change to the commencement time from 9 am to 7 am. - (a) Discuss the role of a change agent p89. (b) Identify change agents within the school. - Read Biz Fact p89. The only sustainable competitive advantage is the ability to learn faster than your competitors. (Peter Senge) Discuss. change models - force field analysis - Lewin s change/unfreeze/refreeze model - Draw figure 3.18 p89. - Explain the purpose of a model. - Distinguish between driving forces and restraining forces p89. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 12

13 Syllabus - Conduct a force-field analysis for changing the commencement time for the school from 9 am to 7 am. - Explain force-field analysis after examining figure 3.19 p90. - Identify and outline the three steps in Lewin s unfreeze/change/refreeze change model. - Group exercise. Because of the recent changes to OH&S you are required to implement some new safety procedures. Some of your employees are going to consider the changes as unnecessary. What might you do to get the employees to accept the changes? 4. Change and social responsibility - ecological sustainability - quality of working life - technology - globalisation/managing cultural diversity - e-commerce - Define term social responsibility p91. - Brainstorm why a business should be concerned with its social responsibility p91. - Read and discuss Snapshot Socially responsible companies pp Outline the concept of ecological sustainability p92. - Suggest a socially responsible change program to improve the quality of working life for employees pp93. - Describe how technology can affect society and individuals p94. - Brainstorm the impact of e-commerce by concentrating on the costs and benefits. - Topic revision: class quiz or test using terminology Biz Word definitions from the margins of pp4-96. HSC Practice questions pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 13

14 HSC BUSINESS STUDIES REGISTER TOPIC 1: BUSINESS MANAGEMENT AND CHANGE AREA OF STUDY: 1.1 The nature of management responsibility 1.2 Understanding business organisations with reference to management theories 1.3 Managing change/change and social Teacher's Name Date commenced Date completed Content examined: achieved: Teaching/Learning activities used: Mind maps Discussion Locating information Accessing web sites Computer work- word processing Point summary Individual research Group research Explanation Group work Cloze exercise Debate Role play Statistical analysis Graph interpretation Cartoon interpretation Diagram Mathematical computation Video Oral presentation Reading Comprehension Model construction Case study Media article Locating information Note taking Text exercise Topic summary Guest speaker Excursion Problem solving Simulation exercise Graph construction CD Rom Analysing information Lecturette Business quiz Test item Survey Evaluation of program/student progress Additional resources: Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 14

15 Topic 2: Financial planning and management Timing: 20% of indicative time Focus: The focus of this topic is to develop an understanding of the role of financial planning within a business operation and management and the interpretation of financial information. The student: Syllabus outcomes Students learn to: Syllabus content H2.1 describes and analyses business functions and operations and their impact on business success H3.2 evaluates the effectiveness of management in the organisation and operation of business and its responsiveness to change H3.3 analyses the impact of management decision-making on stakeholders H4.1 critically analyses the social and ethical responsibilities of management H4.2 evaluates management strategies in response to internal and external factors H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format Use existing business case studies to investigate and communicate ideas and issues related to financial planning and management. The focus of these case studies will be to: interpret the published annual reports of one or more businesses analyse the financial statements of one or more businesses (real or imaginary) undertake comparative ratio analysis over a period of time, with similar businesses, against common standards. A fully integrated case study Lend Lease (Chapter 24) is to be used in conjunction with the relevant topic chapters.) H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms H5.4 applies mathematical concepts appropriately to business situations. Resources: Business Studies in Action- HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt John Wiley (Jacaranda) 2005 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 15

16 2.1 The role of financial planning Syllabus H2.1 H3.2 H5.3 H Strategic role of financial management 2.Objectives of financial management - liquidity - profitability - efficiency - growth - return on capital - Revise the purpose of organisational goals and objectives, and strategic plans pp Read Starter Story p99. Discuss the problems that Gerry and Tony s computer business experienced. - Explain, using examples, the objectives of financial management pp Introduce acronym LPEGR. (Liquidity, Profitability, Efficiency, Growth, and Return on capital.) - Read and discuss Snapshot DJs follows golden thread of young pp Summarise the actions that were taken to improve the growth of this business. 3. The planning cycle - addressing present financial position - determining financial elements of the business plan - developing budgets - cash flows - financial reports - interpretation - maintaining record systems - planning financial controls - minimising financial risks and losses - Draw and discuss figure 4.4 p Briefly outline the need for a planning cycle. Examine each stage of the planning cycle. - Read and discuss Snapshot Conquer and control pp Highlight the importance of monitoring and cash flow. - Students to prepare a weekly budget of their anticipated incomes and expenses. - Discuss the importance of a budget. Stress the importance of their role in financial planning. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 16

17 Syllabus - Explain the difference between: (a) operating budgets (b) project budgets (c) financial budgets. - Analyse and interpret budgeted revenue statement figure 4.6 p Explain the meaning of cash flow. Distinguish between negative and positive cash flow. - Discuss why cash flow is considered to be the life blood of any business. - Analyse and interpret budgeted cash flow figure 4.9 p Prepare a budget cash flow statement from data in revision question 6 p Briefly introduce the two financial reports: (a) revenue statement (statement of financial performance) (b) balance sheet (statement of financial position). - Analyse and interpret budgeted revenue statement and balance sheet figure 4.11 p Read and discuss Snapshot How to avoid a cash flow crisis pp Examine figure 4.12 p114. Explain the role of a variance report. - Complete activity 9 p116 to show the purpose of a variance report. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 17

18 2.2 Financial markets relevant to business financial needs Syllabus H2.1 H Introduction to financial markets - Outline the role of financial markets in meeting the needs of businesses pp Examine the different types of financial markets p Major participants in financial markets - Banks - financial and insurance companies - merchant banks - superannuation/mutual funds - companies - government (Reserve Bank of Australia) - Construct a table to summarise the major participants (pp ) in financial markets. The three headings are Institution, Financial Instrument and Special Characteristics. - Read and discuss Snapshot Big banks work hard on small business pp Distinguish between banks and non-bank financial institutions (NBFIs). - Individual research. Select three financial instruments. Research current interest rates, maturity dates and terms and conditions from a range of institutions. - Outline the difference between primary and secondary markets operating through the ASXp Students to purchase a parcel of shares and plot their performance over a tenweek period. 3. Role of the Australian Stock Exchange as a primary market - Internet activity. Go to and access the websites for the ASX and RBA. Using the information from these two sites, write a report on how the ASX and RBA assist business. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 18

19 Syllabus 4. Influences on financial markets - domestic market influences - overseas market influences - Examine figure 5.9 p127. Brainstorm the possible impact of each domestic influence on the financial needs of businesses. - Examine figure 5.10 p128. Brainstorm the possible impact of each overseas influence on Australian business markets. - Read and discuss Snapshot Inventor wakes up to new strategy pp Trends in financial markets - Use newspapers, magazines and the Internet create a collage of financial products available to businesses. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 19

20 2.3 Management of funds Syllabus H3.2 H3.3 H4.2 H5.3 H Sources of funds internal - owner s equity - retained profits external - short-term borrowings (overdraft, bank bills) - long-term borrowings (mortgage and debentures) - leasing - factoring - venture capital - grants - Examine figure 6.1 and explain the difference between internal and external sources of finance. - Brainstorm the advantages and disadvantages of owner s equity p134 and debt p135 as a source of finance. - Contrast short-term and long-term borrowing. Provide examples of each pp Select a balance sheet and identify and explain the sources of finance. - Outline the advantages and disadvantages of factoring pp Read and discuss Snapshot Sharp credit policies can save grief pp Contrast venture capital and grants p Internet activity. Go to and access the Australian Venture Capital Association website. Find out the sources of funds available for businesses. 2. Financial considerations - matching the terms and source of finance to business - purpose and structure - Expand on the five factors needing to be considered when financing business activities figure 6.7 p142. Terms of finance/costs Business structure Flexibility Availability of finance Level of control Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 20

21 Syllabus 3. Comparison of debt and equity financing - costs and benefits - risks - gearing/leverage - Define debt and equity finance pp Copy table 6.3 p145 and provide a brief explanation of each point. - Discuss the advantages and disadvantages of debt and equity finance. - Read Biz Fact p145 and outline gearing/leverage. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 21

22 2.4 Using financial information Syllabus H2.1 H3.2 H5.1 H5.2 H The accounting framework financial statements - revenue statement - balance sheet - the accounting equation and relationships - Draw figure 7.1 p 149 to show the accounting framework. - Examine figure 7.2 p149 to establish the role of financial statements in decision making. - Analyse and interpret revenue statement (statement of financial performance figure 7.3 p150 and balance sheet (statement of financial position) figure 7.4 p Discuss who would be interested in financial information and why. - Revise the accounting equation from the Preliminary Course; Assets = Liabilities + Owner s Equity p Investigate a balance sheet figures pp to determine the accounting equation. 2. Types of financial ratios liquidity - current ratio solvency - gearing debt to equity - Outline the purpose of analysing financial ratios p Define term liquidity and outline current ratio (working capital) p Complete example p Define term solvency and outline debt to equity ratio pp Complete example p Discuss Biz Fact p159 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 22

23 Syllabus profitability - gross profit ratio - net profit ratio - return on owner s equity - Define term profitability and outline the three ratios pp Gross profit ratio Net profit ratio Return on owners equity - Complete GP, NP and ROE examples pp efficiency - expense ratio - accounts receivable turnover ratio - Define term efficiency and outline expense and accounts receivable turnover ratios pp Complete efficiency ratio examples p Students to prepare their own financial ratio summary card pp Comparative ratio analysis - over time - with similar businesses - against common standards - Apply common ratio analysis and assess the results pp Complete and discuss examples pp Clarify why firms compare their results with industry standards and benchmarks p Interpret profitability trends over a number of years and explain why it is difficult to compare businesses over time p169. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 23

24 Syllabus 4. Limitations of financial reports - historical costs - value of intangibles - Using examples, explain the limitations of financial reports pp Complete a point summary under the following headings: Historical costs Value of intangibles. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 24

25 2.5 Effective working capital (liquidity) management Syllabus H2.1 H4.2 H5.1 H5.3 H The working capital ratio 2. Control of current assets - cash - receivables - inventories - Revise concept of working capital (liquidity) management pp Draw figure 8.1 and explain the importance of working capital management p Complete working capital example p Revise meaning of current assets p Read and construct mind map summary of cash, receivables and inventories pp Group work/extension exercise. Over investment in working capital ties up cash flow. Under investment in working capital reduces profits. Explain these statements. 3. Control of current liabilities - payables - loans - overdrafts - Revise concept of current liabilities p Read and construct mind map summary of payables, loans and overdrafts pp Extension activity. Explain, using diagrams, the relationship between accounts receivable, accounts payable and the need for finance. 4. Strategies for working capital management - leasing - factoring - sale and lease back - Revise concepts of leasing and factoring. - Read Snapshot Buy, lease or loan? pp Discuss how lease-back can assist a business in the longer term. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 25

26 2.6 Effective financial planning Syllabus H2.1 H3.2 H4.2 H Effective cash flow management - cash flow statements management strategies - distribution of payments - discounts for early payment - Revise the concept of cash flow using figure 8.4 p List examples of a business s inflows and outflows of cash p Demonstrate the likely impact on a business of cash flow problems (Biz Fact p184). - Explain the importance of a cash flow statement and the information that can be obtained from it pp Discuss various management strategies that can be used to minimise temporary cash flow problems pp Read and discuss Snapshot Find the cash pp Effective profitability management cost control - fixed and variable - cost centres - expense minimisation revenue controls - sales objectives - sales mix - pricing policy - Draw and explain figure 8.8 p Explain, using examples, the difference between fixed and variable costs p Outline the importance of managing costs and revenue in a business pp Justify financial management strategies based on revenue statement information p Present a diagram to illustrate main points on revenue controls p Read and discuss Snapshot Holeproof campaigns sock it to shoppers pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 26

27 2.7 Ethical and legal aspects Syllabus H3.2 H4.1 H4.2 H5.1 H Ethical and legal aspects - audited accounts - inappropriate cut off periods - misuse of funds - Class discussion. Why are ethical aspects important to consider in financial management? pp Outline the role of the auditor in financial management - Describe some common auditry issues. - Briefly outline the three types of audits p Internal Management External - Read and discuss Snapshot Risk neglected p Australian Securities and Investment Commission - Describe the role of ASIC and evaluate its effectiveness in enforcing and administering the Corporations Law p Corporate raiders and asset stripping - Internet activity. Access ASIC s website at and find recent articles relating to investigations conducted by ASIC. Share and discuss these within the class. - Topic revision: class quiz or test using terminology Biz Word definitions from the margins of pp HSC Practice questions pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 27

28 HSC BUSINESS STUDIES REGISTER TOPIC 2: FINANCIAL PLANNING AND MANAGEMENT AREA OF STUDY: 2.1 The role of financial planning 2.2 Financial markets relevant to business financial needs 2.3 Management of funds 2.4 Using financial information 2.5 Effective working capital (liquidity) management 2.6 Effective financial planning 2.7 Ethical and legal aspects Teacher's Name Date commenced Date completed Content examined: achieved: Teaching/Learning activities used: Mind maps Discussion Locating information Accessing web sites Computer work- word processing Point summary Individual research Group research Explanation Group work Cloze exercise Debate Role play Statistical analysis Graph interpretation Cartoon interpretation Diagram Mathematical computation Video Oral presentation Reading Comprehension Model construction Case study Media article Locating information Note taking Text exercise Topic summary Guest speaker Excursion Problem solving Simulation exercise Graph construction CD Rom Analysing information Lecturette Business quiz Test item Survey Evaluation of program/student progress Additional resources: Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 28

29 Topic 3: Marketing Timing: 20% of indicative time Focus: The focus of this topic is to develop an understanding of the nature and role of marketing in a business and the main elements involved in the development and implementation of successful marketing strategies. Syllabus outcomes Syllabus content The student: H1.2 critically analyses the role of business in Australia. H2.1 describes and analyses business functions and operations and their impact on business success H3.2 evaluates the effectiveness of management in the organisation and operation of business and its responsiveness to change H4.1 critically analyses the social and ethical responsibilities of management H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format Students learn to: Use existing business case studies to investigate and communicate ideas and issues related to marketing. The focus of these case studies will be to: analyse and evaluate marketing strategies for a product or service analyse the marketing plan of a business construct a marketing plan for a single product/service (real or imaginary). A fully integrated case study Lend Lease (Chapter 24) is to be used in conjunction with the relevant topic chapters.) H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms Resources: Business Studies in Action- HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt John Wiley (Jacaranda) 2005 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 29

30 3.1 Nature and role of markets and marketing Syllabus H1.2 H2.1 H5.1 H5.2 H Introduction to marketing 2. The role of marketing in the firm and in society - Discuss the Coca-Cola story pp Revise concept of marketing by reading p201 and Biz Word. - Read Starter Story p199. Discuss why Michelle Giles must develop a marketing plan for her new product. - Elaborate on Biz Fact p Internet activity. Go to and access the Coke and Pepsi websites. Examine the differences and similarities between the marketing of these two products. 3. Types of markets - resource - industrial - intermediate - consumer - mass - niche - Draw figure 9.2 p203 and provide a brief description of each type of market pp Suggest examples of products for each type of market. - Select a range of products and determine whether they are sold in a mass M or niche N market. 4. Production-selling-marketing orientation - Examine figure 9.6 p207. Discuss how the focus of marketing strategies has changed over time pp The marketing concept - customer orientation - relationship marketing - Define the meaning of marketing concept p Prepare point summary of the marketing approach as it moved through two stages from the 1960s to the present pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 30

31 Syllabus - Suggest reasons why a business would want to adopt a customer oriented approach to marketing Class discussion. Relationship marketing is only successful if the business has access to detailed information about its customers. - Conduct class survey to establish the number of loyalty programs class members belong to. Discuss their effectiveness. - Read and discuss Snapshot Maintaining the relationship p Marketing planning process - List and briefly outline the five steps involved in the marketing planning process pp Create a flow chart based on figure 9.11 p Outline the interrelated nature of each step of the marketing process. - Briefly introduce the four Ps as part of the marketing strategies. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 31

32 3.2 Elements of a marketing plan Syllabus H2.1 H3.2 H5.2 H Introduction - Introduce and identify the five elements involved in developing a marketing plan p Draw figure 10.1 p215 and discuss each element. - Introduce the mnemonic SEIDI to reinforce the five elements of a marketing plan. Situational analysis Establish marketing objectives Identify target markets Develop marketing strategies Implement, monitor and control. 2. Situational analysis - SWOT - product life cycle - Outline the value of a SWOT analysis when reviewing the business s situation p Revise the concept of product life cycle p Read and discuss Snapshot It s on the cards pp Examine figure 10.2 p217 and then explain how the marketing strategies should change as a product advances through the stages of the life cycle. Use as examples the following products: CRT television; digital camera; DVD recorder; VHS recorder; MP3 player; turntable; plasma television etc. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 32

33 Syllabus 3. Establishing marketing objectives - Discuss the marketing objective of increasing market share. Use Australian Consolidated Press (ACP) as an example p Explain the purpose of product mix by referring to figure 10.4 p Using the school canteen identify the product range for specific items. - Outline the reasons why some businesses wish to increase their geographic representation p Read and discuss Snapshot Keep the customer satisfied p Discuss the reasons why maximising customer service is so important. - Role play good and poor customer service situations. 4. Identifying target market - Revise the concepts of market segmentation and target market, p Distinguish between total market and market segmentation approach p Examine a range of magazines and newspapers and identify the intended target markets for each publication. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 33

34 Syllabus 5. Developing marketing strategies - Briefly outline the four Ps of marketing pp Examine figure 10.8 p223. Predict what would happen when factors within the marketing environment may change. 6. Implementing, monitoring and controlling the marketing plan - developing a financial forecast - comparing actual and planned results - revising the marketing strategy - Explain why the implementation stage is as important as developing marketing objectives pp Outline the difference between monitoring and controlling pp Examine and discuss figure 10.8 p226. Outline the connection between monitoring and controlling. - Clarify the importance of financial forecasts p227 - Outline the purpose of a sales analysis pp Discuss figure p228. Explain the difference between forecast and actual sales results. - Brainstorm possible marketing strategies to overcome declining sales revenue pp including: changes in the marketing mix new product development - Extension activity. Outline the reasons why a business s marketing performance should be constantly evaluated. Describe some methods that can be used to measure the effectiveness of a marketing plan. - Examine and analyse a marketing plan, Snapshot Beau s Floral Studio pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 34

35 3.3 Market research and customer buyer behaviour Syllabus H2.1 H5.1 H5.2 H Market research process 2. Determining information needs - Define term market research p Explain why it is important for businesses to undertake market research p Examine and discuss figure 11.2 p Read Biz Fact p Data collection (primary and secondary) - Examine figure 11.3 p242. Distinguish between primary and secondary data. - Read and discuss Snapshot Tracking the moods, hour by hour p Internet activity. Go to and access the ACNielsen marketing service. Examine the services ACNIelsen offers its clients. - Secondary data: internal and external p Data analysis and interpretation - Outline the meaning of statistical interpretation analysis p Customer and buyer behaviour - Distinguish between customer and organisation buying behaviour p Types of customers - people - households - firms - educational institutions - government - clubs and societies - religious organisations - Draw figure 11.7 p247 and read pp Prepare a brief description of each type of customer. - Read and discuss Snapshot KGOY Kids getting Older Younger pp Debate the issues involved in advertising to children. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 35

36 Syllabus 7. The buying process - buyers and users - Examine figure 11.9 and outline the buying process pp Students to recount their own buying process for a selected item. 8. Factors influencing customer choice - psychological - sociocultural - economic - government - Examine figure and provide examples for each of the four main influences on customer choice p Create a table and provide a brief summary of the four main factors influencing customer choice pp Students select one of the main factors influencing customer choice and investigate and prepare either a two-minute oral or one-page written report. - Prepare arguments for and against the validity of the following statement; Through knowledge of customer buying behaviour marketers can learn to manipulate customers to purchase their products. - Extension activity. Critically analyse this statement; Perception is reality; what you think is true about a product does not matter. - Internet activity. Go to and access the NSW Office of Fair Trading. (a) Outline the main requirements of the Fair Trading Act (b) Examine the role of the Office of Fair Trading. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 36

37 3.4 Developing marketing strategies Syllabus H2.1 H3.2 H5.1 H Introduction 2. Marketing segmentation and differentiation of products and services - Identify the four marketing strategies (4Ps) that make up the marketing mix p Draw figure 12.2 p259 and briefly outline how the 4Ps vary according to different target markets. - Examine figure 12.3 p260 and distinguish between primary and secondary target market. - Examine table 12.1 p259 and explain what is meant by terms demographic, geographic, physiographic and behaviouristic variables. - Using example, distinguish between mass marketing and niche marketing p Select four specific products and illustrate how they are differentiated from their competitors p Products and services - positioning - branding - packaging - Explain why marketers prefer to use the term total product concept rather than simply product pp Select a range of products and discuss their positioning p Read and discuss snapshot A well-positioned and sophisticated, product pp Complete brand recognition test figure 12.5 p Suggest reasons why businesses spend so much money attempting to establish a brand name and brand symbol pp Describe the functions of packaging pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 37

38 Syllabus 4. Price and pricing methods - cost - market - competition based pricing strategies/tactics - skimming - penetration - loss leaders - price points - Provide brief explanation of each pricing method pp Class discussion as to the most appropriate method for a range of products. Provide examples from the media. - Assess the value of each strategy by referring to specific examples pp price and quality interaction - Explain what is meant by the term price. Explain why some customers are prepared to pay a high price for a product while other customers would not buy the product even if the price were low. What does that tell you about the relationship between price and customer tastes and preferences? p Promotion elements of the promotion mix - personal selling - advertising - below-the-line promotions - PR/publicity the communication process - opinion leaders - word of mouth - Outline the main purposes of promotion p268 and the promotion mix pp Collect examples of the four elements of the promotion mix pp Suggest reasons why below-the-line promotion is increasing in popularity among marketers p Advertising is what you pay for and publicity is what you pray for. Explain by examining figure p Explain why efficient communication is important to marketers pp List some opinion leaders used by marketers. Discuss the value of using such people. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 38

39 Syllabus 6. Place/distribution - distribution channels and reasons for intermediaries channel choice - intensive - selective - exclusive - Devise a marketing channel for the sale of newspapers, washing machines, DVD players, exported luxury motor vehicles and office furniture p Outline term market coverage p Explain, using figure p274, the different market coverage strategies. - Suggest reasons why a business would select an exclusive rather than an intensive distribution strategy pp Holding either too little or too much stock is to be avoided. Elaborate p275. physical distribution issues - transport - warehousing - inventory environmental effects on distribution - technology - local government - Individual research. The growth of non-store retailing p Predict the impact of technology on non-store retailing pp Brainstorm the advantages and disadvantages to a business of selling via the Internet p Internet activity. Go to and access Yahoo! shopping. Evaluate the ease of navigating this site. - Examine figure p277. Analyse the marketing techniques used by the Coca- Cola Company. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 39

40 3.5 Ethical and legal aspects of marketing Syllabus H1.2 H4.1 H5.1 H Introduction 2. Criticisms of some marketing strategies - Distinguish between ethics and laws p Evaluate the four basic legal and ethical positions as shown in figure 13.1 p Discuss the ethical issues involved in: (a) sponsorship deals p280 (b) product placement p Set up a class debate to consider the following topic: Sponsorship deals are sometimes unethical. Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides. - Read and discuss Snapshot Seen any good movies lately? p Environmentally responsible products - Revise the concept of environmentalism pp Outline the impact environmentalism has had upon marketing practices. Provide examples p Class discussion. Green marketing is just a clever marketing strategy to make purchasers feel good. - Internet activity. Go to and access the American Marketing Association and the Marketing Association of Australia and New Zealand websites. Outline the purpose of a code of ethics. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 40

41 Syllabus 4. Other marketing ethical and legal issues - materialism (creation of needs) - impact of retail developments - sugging - Discuss the meaning of figure 13.5 p (a) In pairs, debate the following topic: Marketing creates needs, it does not satisfy existing ones. One person presents the affirmative case and the other person the negative case. Each person writes the key points for their case. (b) Divide the class into two groups, those who presented the affirmative case and those who presented the negative case. Each group is to refine their arguments before a spokesperson presents the group s comments to the rest of the class. - Suggest reasons why sugging may be an unethical marketing strategy p Recount individual experiences of sugging. 5. Role of consumer laws in dealing with - deceptive and misleading advertising - price discrimination - implied conditions - warranties - resale price maintenance - Outline relevant federal and state consumer legislation p Justify the need for a Trade Practices Act p Provide examples of some deceptive and misleading advertising techniques pp Discuss Biz Fact p286 and p Examine figure Role-play a bait and switch situation p Topic revision: class quiz or test using Biz Words pp HSC Practice Questions pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 41

42 HSC BUSINESS STUDIES REGISTER TOPIC 3: MARKETING AREA OF STUDY: 3.1 Nature and role of markets and marketing 3.2 Elements of a marketing plan 3.3 Market research and customer buying behaviour 3.4 Developing marketing strategies 3.5Ethical and legal aspects of marketing Teacher's Name Date commenced Date completed Content examined: achieved: Teaching/Learning activities used: Mind maps Discussion Locating information Accessing web sites Computer work- word processing Point summary Individual research Group research Explanation Group work Cloze exercise Debate Role play Statistical analysis Graph interpretation Cartoon interpretation Diagram Mathematical computation Video Oral presentation Reading Comprehension Model construction Case study Media article Locating information Note taking Text exercise Topic summary Guest speaker Excursion Problem solving Simulation exercise Graph construction CD Rom Analysing information Lecturette Business quiz Test item Survey Evaluation of program/student progress Additional resources: Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 42

43 Topic 4: Employment relations Timing: 20% of indicative time Focus: The focus of this topic is to understand the nature of effective employment relations and their importance to business operation and society. The student: Syllabus outcomes Students learn to: Syllabus content H2.1 describes and analyses business functions and operations and their impact on business success H2.2 evaluates processes and operations in global business H3.2 evaluates the effectiveness of management in the organisation and operation of business and its responsiveness to change H3.3 analyses the impact of management decision-making on stakeholders Use existing business case studies to investigate and communicate ideas and issues related to marketing. The focus of these case studies will be to: analyse how conflict and change are managed in a business prepare and justify possible ways of resolving conflicts in selected business organisations. H4.1 critically analyses the social and ethical responsibilities of management H4.2 evaluates management strategies in response to internal and external forces H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format A fully integrated case study Lend Lease (Chapter 24) is to be used in conjunction with the relevant topic chapters.) H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms H5.4 applies mathematical concepts appropriately in business situations. Resources: Business Studies in Action HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt John Wiley (Jacaranda) 2005 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 43

44 4.1 The nature of employment relations Syllabus H2.1 H3.2 H3.3 H4.2 H The nature of employment relations 2. Stakeholders in the employment relations process - employers - employees - employer associations - unions - government organisations - Define terms employment relations, employer and employee p Examine figure 14.2 and compare and contrast the main objectives of each stakeholder p Identify possible sources of conflict between the stakeholders. - Briefly outline the main roles of employers and employees pp Read Starter Story p291. Discuss the likely outcomes for the stakeholders. Brainstorm possible conflict resolution strategies. - Provide brief history of development of trade unions using figure 14.3 p Discuss the reasons for declining union membership levels p Internet activity. Go to and access the ACTU web site for current campaigns and press releases. - Read and discuss Snapshot Interview with Dave Oliver pp and Role of the ACTU p Outline the role of employer associations p Read and discuss Snapshot An interview with Katie Lahey pp Internet activity. Go to and access the website of the Australian Chamber of Commerce and Industry. Outline the role of this employer association. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 44

45 Syllabus - Provide an overview of governments and government organisations as stakeholders in employment relations issues pp Outline the role industrial tribunals and courts (AIRC) pp Read and discuss Snapshot What have the governments and courts got to do with my job? pp Outline the role of: (a) Federal Court (b) Employment Advocate pp Internet activity. Go to and access the website of the: (a) Department of Employment and Workplace Relations (b) NSW Department Commerce Office of Industrial Relations. Outline the role of these two government departments. 3. Managing the employment relations function - line management and specialist - Distinguish between line manager and specialist by analysing management functions within the school pp Read Biz Fact p Examine figure and introduce the role of the employment relations specialist. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 45

46 4.2 Key influences on employment relations Syllabus H2.2 H4.1 H4.2 H Introduction 2. Social influences - changing work patterns - population shifts - Discuss figure p Predict the likely impact of each influence on employment relations. - Discuss the old and new approaches to work by examining table 14.1 p309. Relate these changes to their impact on employment relations. - Complete a dot-point summary of: (a) population shifts (b) changing attitudes pp Legal influences - overview of major employment legislation 4. New organisational behavioural influences - flat management and team structures 5. Economic influences - economic cycle - globalisation 6. Other influences - Brief introduction. (Covered in more detail in chapter 16). - Distinguish between centralised and decentralised p Recall impact of new organisational behaviour p Recall stages of the economic cycle p Predict job gains figure p Define and discuss term globalisation p Read and discuss Snapshot Burger for burger pp Internet activity. Go to and access the Selected Company Websites to locate their annual reports. Research the employment relations approaches of two businesses. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 46

47 4.3 Effective employment relations Syllabus H2.1 H3.2 H4.1 H5.1 H5.2 H Role of employment relations 2. Importance of communication systems - grievance procedures - worker participation - team briefings - Briefly outline the key functions of employment relations pp and figure 15.3 p Explain why effective employment relations are so important to business success today. - Identify problems that may arise if a business does not undertake human resource planning p Account for the need for grievance procedures p Write a letter of praise/reprimand p Write a report for management on joint consultative committees pp Group work. Explain how specific employment relations strategies such as employee participation, teamwork, flexible working conditions, training and reward strategies help achieve each of the business s goals. 3. Rewards - financial - non-financial - Distinguish between intrinsic and extrinsic rewards pp with reference to figure and table 15.1 p Design a survey to measure the effectiveness of a business s system of rewards and benefits. - Brainstorm the criteria that would be used in evaluating rewards. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 47

48 Syllabus 4. Training and development - induction - Discuss the importance of an induction process. Relate this to the workplace culture pp Brainstorm the costs of a poor induction program pp Outline the difference between training and development. - Draw a flow chart that outlines the process that businesses should undertake in designing an efficient training program pp Flexible working conditions - family-friendly programs - Identify the types of flexible working conditions available in many businesses pp Read and discuss Snapshot Life work pp Brainstorm the possible benefits achieved through family-friendly practices. Refer to figure p336 and figure p Measures of effectiveness - level of staff turnover - absenteeism - disputation - quality - benchmarking - Introduce employment relations audit p Explain why the effectiveness of employment relations in a business cannot be evaluated using a quantitative approach alone p Examine table 15.2 p338. Comment on five employment relations effectiveness indicators. - Read and discuss Snapshot Summary of key human resource benchmarks (median) pp Identify a range of qualitative measurement that could be used to evaluate the effectiveness of the employment relations function p340. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 48

49 4.4 Legal framework of employment Syllabus H2.1 H3.3 H4.2 H5.1 H The employment contract - common law (rights and obligations of employers and employees) - statutes - awards - agreements - Examine figure 16.1 p344. Identify the key features of an employment contract in conjunction with figure 16.2 p Outline the meaning of a contract and common law p List the responsibilities and obligations of employers and employees under common law p Discuss the concept of duty of care p Group research. Research the main features of the NSW OH&S Act Read and discuss Biz Facts p Define term statutes p347. Read and discuss Biz Fact p Select two pieces of federal legislation from table 16.1 p and comment upon their importance. - Examine the evolution from a centralised to a more decentralised system pp Group research. Present an oral or written report on the advantages and disadvantages of the Workplace Relations Act for both employers and employees pp Analyse the most recent industrial relations reforms pp Use table 16.4 as a basis of comparison pp Examine the changing world of employment relations using table 16.5 as a basis of comparison pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 49

50 Syllabus - Read and discuss Snapshot All this legal stuff is giving me a headache pp Complete a table (p359) to outline the main features, advantages and disadvantages of: (a) award (b) enterprise agreement (c) Australian workplace agreement (d) common-law employment contract. - Brainstorm the possible advantages and disadvantages of individual contracts for both employers and employees. - Discuss the nature of awards pp Examine and discuss figure 16.9 p Examine figure p362 for an overview of the agreement-making process. - Outline the difference between certified and Australian workplace agreements pp Read and discuss Snapshot Everyone is involved in enterprise bargaining even the Australian Rugby Union! pp Examine figure p365. Discuss the message the cartoonist conveys. - Internet activity. Go to and access the Office of the Employment Advocate website. Discuss the advantages and disadvantages of using a template for AWAs designed by the OEA. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 50

51 Syllabus 2. Types of employment contract - casual - part-time - flexible - permanent - Distinguish between casual, part-time, flexible and permanent employment contracts pp Brainstorm advantages and disadvantages of casualisation of the workforce pp Extension activity. The federal government wishes to further decentralise workplace relations. Debate this issue. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 51

52 4.5 Industrial conflict Syllabus H2.1 H3.2 H3.3 H4.2 H5.1 H5.2 H5.3 H Definition and causes - wage demands - working conditions - management policy - political goals - social issues - Define terms conflict and dispute p Read Biz Fact p Analyse table 17.1 pp Examine the trend in industrial disputes in Australia since Comment on the trend in the number of disputes over the period table 17.1 pp Extension research. Research the possible reasons for the trend shown in the number of disputes. - Construct a mind map to summarise the main causes of industrial disputes pp Perspectives on conflict - unitary - pluralist - radical - Examine figure 17.3 p373. Role-play the three different perspectives shown. - Brainstorm reasons why a person would adopt a particular perspective on conflict. 3. Types of industrial action Overt - lockouts - pickets - strikes - bans - work-to-rule - Distinguish between overt and covert industrial action pp Identify the types of overt industrial action that can be taken by employees and employers figure 17.5 p Prepare a brief description of each type of overt industrial action pp Read and discuss Snapshot Fuli Xerox industrial dispute 2004 pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 52

53 Syllabus Covert - absenteeism - sabotage - turnover - exclusion from decision-making in business - Read and discuss Snapshot Sickies cost! pp Prepare a brief description of each type of covert industrial action pp Roles of stakeholders in resolving disputes 5. Dispute resolution processes - conciliation - arbitration - grievance procedures - negotiation - mediation - common law action - business/division closure - List the key stakeholders involved in resolving disputes. Briefly outline their main role. Figure 17.9 p Revise grievance procedures pp Role-play situations of negotiation, conciliation and arbitration pp Distinguish between negotiation, conciliation and arbitration pp Outline the advantages of mediation compared to common law action p Individual research. Collect media presentations and articles of recent industrial disputes. Identify the processes used to resolve the disputes. 6. Costs and benefits of industrial conflict - financial - personal - social - political - international - Brainstorm the financial, personal, social, political and international benefits and costs of industrial conflict. - Compare with figure p392 and table 17.3 pp Read and discuss Snapshot Waterfront dispute, 1998 pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 53

54 4.6 Ethical and legal aspects of employment relations Syllabus H2.1 H3.3 H4.1 H4.2 H5.1 H5.2 H Ethical and responsible behaviour 2. Issues in the workplace - working conditions - Occupational Health and Safety (OH&S) - Workers compensation (state and/or federal agencies and common law redress) - anti-discrimination - Equal Employment Opportunity (EEO) - Unfair dismissal - Identify the aspects of a socially responsible and ethical business p Devise a code of ethics and a code of conduct for the classroom p Read and discuss Snapshot Management ethics matter pp Examine the features of a safe and fair workplace pp Read and discuss Snapshot Pizza with the works? p398. Identify the ethical and legal issues involved in the case. - Outline the purpose of OH&S legislation p Read Biz Facts p399 and Examine figure 18.4 p400 and discuss the six steps involved in developing an OH&S policy. - Read and discuss Snapshot Occupational health and safety at Holden Australia pp Internet activity. Research the role of Workcover by accessing their website at - Outline the role of workers compensation pp Evaluate the effect of workers compensation and common law redress pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 54

55 Syllabus - Read and discuss Snapshot Compensation for asbestos victims James Hardie Industries pp Examine figure 18.7 p406. Distinguish between direct and indirect discrimination. - List the main anti-discrimination legislation p Internet activity. Go to and access the Human Rights and Equal Opportunity Commission (HREOC) website. (a) Examine its role. (b) Investigate cases of discrimination in the workplace (c) Identify the techniques used to resolve discrimination issues in the workplace. - Read Biz Facts p Outline the purpose of EEO legislation pp Read and discuss Snapshot Gender perceptions p Identify strategies a business can use to improve equity p Read and discuss Snapshot Sexual harassment behaviour pp Investigate the nature and causes of sexual harassment in the workplace. - Outline the three ways in which an employee may be dismissed p Examine the recent changes to unfair dismissal legislation pp Read and discuss Snapshots AIRC backs sacking for the finger and Office romance not a sacking offence pp Debate. Unfair dismissal laws are unfair to employers. - Topic revision: class quiz or test using Biz Words pp HSC Practice questions pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 55

56 HSC BUSINESS STUDIES REGISTER TOPIC 4: EMPLOYMENT REALTIONS AREA OF STUDY: 4.1 The nature of employment relations 4.2 Key influences on employment relations 4.3 Effective employment relations 4.4 Legal framework of employment 4.5 Industrial conflict 4.6 Ethical and legal aspects Teacher's Name Date commenced Date completed Content examined: achieved: Teaching/Learning activities used: Mind maps Discussion Locating information Accessing web sites Computer work- word processing Point summary Individual research Group research Explanation Group work Cloze exercise Debate Role play Statistical analysis Graph interpretation Cartoon interpretation Diagram Mathematical computation Video Oral presentation Reading Comprehension Model construction Case study Media article Locating information Note taking Text exercise Topic summary Guest speaker Excursion Problem solving Simulation exercise Graph construction CD Rom Analysing information Lecturette Business quiz Test item Survey Evaluation of program/student progress Additional resources: Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 56

57 Topic 5: Global business Timing: 20% of indicative time Focus: The focus of this topic is to examine the implications of globalisation on business structure, functions and management. The student: Syllabus outcomes Students learn to: Syllabus content H1.1 explains the impact of the global business environment on business role and structure H1.2 critically analyses the role of business sin Australia H2.1 describes and analyses business functions and operations and their impact on business success H2.2 evaluates processes and operations in global business H3.2 evaluates the effectiveness of management in the organisation and operation of business and its responsiveness to change Use existing business case studies to investigate and communicate ideas and issues related to global business. The focus of these case studies will be to: select a global business and identify its international targets describe and analyse the reasons for its international expansion explain the influences on this business in the global market explain the strategies used by the business to achieve its targets. H3.3 analyses the impact of management decision-making on stakeholders H4.1 critically analyses the social and ethical responsibilities of management H4.2 evaluates management strategies in response to internal and external forces H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format A fully integrated case study Lend Lease (Chapter 24) is to be used in conjunction with the relevant topic chapters.) H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms Resources: Business Studies in Action HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt John Wiley (Jacaranda) 2005 Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 57

58 5.1 Globalisation Syllabus H1.1 H1.2 H2.1 H2.2 H5.1 H Introduction to global economy 2. Nature and trends in globalisation - growth in the global economy - changes in markets (financial/capital, labour, consumer) - Identify main global influences affecting the Australian business environment p Define term globalisation by reading Snapshot What is globalisation? p Demonstrate the possible impact of global business upon everyday life; provide examples pp Set up a class debate to consider the following topic: Globalisation is good for all. Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides. - Prepare point summary of pp under the heading Changes in Markets. 3. Trends in global trade since World War II 4. Drivers of globalisation - role of transnational corporations - global consumers - impact of technology - role of government - deregulation of financial markets - Analyse figure 19.5 p423. Predict future trends. - Using the sub-headings ; ; 1980 to the present; prepare a point summary pp Identify five drivers of globalisation, figure 19.7 p Prepare a mind map summary of Role of TNCs pp Internet activity. Access the websites of either Boral Ltd ( Billabong ( or Unilever ( Prepare a report on one of these business s global activities. - Read and discuss Snapshot The Monaro goes Pontiac!) pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 58

59 Syllabus - Internet activity. Go to and access the World Trade Organisation website. Research the role this organisation plays in encouraging globalisation. - Illustrate how technology has hastened the speed of globalisation (figure 19.8) p Outline the impact of free trade agreements on Australian businesses and consumers pp Interpret figure p Discuss how deregulation of the financial markets has facilitated the flow of equity finance p Interaction between global business and Australian domestic business - Read and discuss Snapshot Espresso Supremo pp Describe the strategies used to gain market share in the overseas markets. - Internet activity. Go to and access the Department of Foreign Affairs and Trade (DFAT) website. Research the economic growth rates of Australia s major trading partners. Predict the impact the different growth rates will have upon Australian exporting businesses. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 59

60 5.2 Global business strategy Syllabus H2.2 H3.2 H3.3 H4.1 H5.2 H Methods of international expansion - export - foreign direct investment - relocation of production - management contracts - licensing/franchises 2. Reasons for expansion - increase sales/find new markets - acquire resources and have access to technology - diversification - minimise competitive risk - economies of scale - cushioning economic cycle - regulatory differences - tax minimisation - Identify the five methods of global expansion figure 20.1 p Distinguish between indirect, direct and intracorporate exporting p434 and figure Read and discuss Snapshot Pregnant with opportunity pp Contrast greenfield strategy, acquisition strategy and joint venture pp Outline the advantages and disadvantages of each. - Individual research. Using company annual reports, the media and the Internet locate examples of Australian joint ventures. - Prepare a point summary of the benefits of management contracts to both the host and donor p Distinguish between licensing and franchising pp Draw figure 20.4 p Read Starter Story about SOTA p416. Suggest which method of international expansion would best suit SOTA. - Draw and discuss figure 20.5 p Prepare a point summary of the reasons for expansion pp Discuss the motives behind a business relocating to a country with less rigid regulations. Refer to any ethical issues that may arise p Internet activity. Go to and access the Paperlinx or CSR websites. Investigate the businesses in terms of global strategies; geographic locations; and products marketed at each location. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 60

61 5.3 Specific influences on global business Syllabus H2.1 H2.2 H3.2 H4.1 H4.2 H5.1 H5.2 H Introduction 2. Financial influences - currency fluctuations - interest rates - overseas borrowing - read and discuss Snapshot Doing business in China pp Identify the specific influences on global business referred to. - Draw figure 21.1 p Explain currency/exchange rate fluctuations pp Outline the role of the forex market p Calculate exchange rates for a number of currencies using the example of the US$ p Outline difference between a depreciation and appreciation p Interpret cartoon figure 21.3 p448 - Examine the use of overseas borrowing. Refer to the possible risks of overseas borrowing due to currency fluctuations 3. Political influences - tension between protectionism and free trade - international organisations and treaties (WTO) - trade agreements - regionalism - war and civil unrest - Define the term protectionism p Brainstorm arguments for and against trade protectionism. Compare with figure 21.4 p List the main world international trade organisations and treaties p Distinguish between trade agreements and a trading bloc pp Examine figures 217; 21.8; and 21.9 pp Explain the meaning of APEC, NAFTA, EU and ASEAN. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 61

62 Syllabus 4. Legal influences - contracts - dispute resolution - intellectual property - Briefly outline the purpose of a contract p Identify the methods a business could use to resolve contractual disputes p Provide examples of various trademarks p p458 and figure Explain the term intellectual property. Discuss the importance of protecting creative ideas and products. - Internet activity. Go to and access the World Trade Organisation website. Provide a brief description of the two main types of intellectual property rights. 5. Social and cultural influences - language - tastes - religion - varying business practices and ethics - Outline the influence of the following: (a) Language pp (b) Tastes p459 (c) Religion pp (d) Varying business practices and ethics pp Make reference to the difference in interpretation of a gift and a bribe. - Read and discuss Snapshot Customs and traditions some useful information for the global buisnessperson pp Internet activity. Go to and access the Austrade and the Department of Foreign Affairs and Trade websites. Outline the social and cultural influences for two of Australia s major trading partners. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 62

63 5.4 Managing global business Syllabus H1.1 H2.1 H2.2 H3.2 H4.2 H Financial - methods of payment - credit risks - hedging - derivatives - insurance - obtaining finance - Identify the ways in which Austrade can assist Australian exporting businesses, especially with their financial requirements pp Examine figure 22.2 p464 and discuss the intermediary role of banks in international payment system. - List some of the main financial risks associated with exporting p Prepare a table using the headings of Method of payment and How it works. Complete the table using the methods of payment shown in figure 22.3 pp Define the term hedging p Outline the natural hedging strategies a business could implement p Explain the role of derivatives p Compare and contrast forward exchange contract, options contract and swap contract p Examine the different methods of obtaining finance p Marketing - research of market - global branding - standardisation and differentiation - Collect and display examples of global branding p Elaborate on the three main reasons why businesses use a global branding strategy pp Provide reasons why businesses such as McDonalds use a combination of a standardised and a differentiated marketing strategy p Internet activity. Go to and access the Proctor and Gamble s website and research the range of products and the worldwide brands it sells in each of its market regions. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 63

64 Syllabus 3. Operations - sourcing (vertical integration, make or buy) - global web (components produced in different countries - Outline the two sourcing decisions facing a business pp Illustrate, using examples, how a business could use a global web to produce a product p Employment relations - organisational structure - staffing - shortage of skilled labour - labour law variations - minimum standards of labour - ethnocentric/polycentric/geocentric staffing system - Discuss how a business will reorganise its operations and management structure when selling globally p Discuss why a global business should be aware of the labour laws of a country in which it operates p Distinguish between ethnocentric, polycentric and geocentric approaches to staffing p479 and figure p Discuss when it would be appropriate to use each approach. 5. Evaluation - strategies with reference to a particular global market - Justify the underlying purpose of evaluating specific business strategies pp Read and discuss Snapshot Global evaluation strategies implemented by Opal Electronics Pty Ltd pp Modifications of strategies according to changes in global market - Identify how McDonalds has modified its global strategies in response to changes in its markets Snapshot Even McDonald s must modify its strategies pp Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 64

65 5.5 Management responsibility in a global environment Syllabus H4.1 H3.3 H5.1 H Introduction 2. Ethically responsible corporate strategies - tax havens and transfer pricing - dumping illegal products - ecological sustainability - Discuss the meaning of the cartoon figure 23.1 p Explain the meaning of triple bottom line p Read and discuss Snapshot Billabong s supplier policy and corporate social responsibility (CSR) p Brainstorm the benefits of developing a corporate social strategy p Internet activity. Go to and access Billabong s website. Research the business s social responsibility agenda. - Distinguish between tax haven, tax paradise, tax shelter and tax privilege pp and figure 23.2 p Describe, using an example, how transfer pricing can be used to minimise the tax obligations of a business pp Discuss whether it is ethical to use tax havens to reduce a business s tax obligations. - Explain why some businesses have developed human rights codes of conduct p488. refer to Biz fact p Read and discuss Snapshot Our business practices p Discuss the ethical issues involved in dumping illegal products p489. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 65

66 Syllabus - Internet activity. Go to and access the Global Business responsibility Resource centre website. Select an article and identify the ethical and social issues involved. - Examine the arguments for and against corporate social and ethical responsibility p Topic revision: class quiz or test using Biz Words from pp HSC Practice questions pp Internet activity. Go to and access the Reebok Human rights and Environment website. Outline the role of this foundation. - Internet activity. Go to and access the Levi Strauss & Co website. Research Levi s commitment to its social obligations with reference to global sourcing. Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 66

67 HSC BUSINESS STUDIES REGISTER TOPIC 5: GLOBAL BUSINESS AREA OF STUDY: 5.1 Globalisation 5.2 Global business strategy 5.3 Specific influences on global business 5.4 Managing global business 5.5 Management responsibility in a global environment Teacher's Name Date commenced Date completed Content examined: achieved: Teaching/Learning activities used: Mind maps Discussion Locating information Accessing web sites Computer work- word processing Point summary Individual research Group research Explanation Group work Cloze exercise Debate Role play Statistical analysis Graph interpretation Cartoon interpretation Diagram Mathematical computation Video Oral presentation Reading Comprehension Model construction Case study Media article Locating information Note taking Text exercise Topic summary Guest speaker Excursion Problem solving Simulation exercise Graph construction CD Rom Analysing information Lecturette Business quiz Test item Survey Evaluation of program/student progress Additional resources: Sample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005 Page 67