Northlakes High SchoolPRELIMINARY

Student Booklet

Business Studies2015

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Contents

Northlakes HSC Scope and Sequence............................................3Assessment Task Schedule.............................................................4Course Objectives and Outcomes...................................................5Course Overview and Content ........................................................6Summary of internal assessment……………………......................12Performance Band Descriptors......................................................13Directive Verb Glossary.................................................................14Websites........................................................................................15

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NORTHLAKES HIGH SCHOOLYEAR 11 Preliminary – Business studies

YEARLY PLANNER 15

Term 1

Week127/1

Week 22/2

Week 39/2

Week 416/2

Week 523/2

Week 62/3

Week 79/3

Week 816/3

Week 923/3

Week 1030/3

Term 2

Week 120/4

Week 2 27/4

Week 3 4/5

Week 4 11/5

Week 5 18/5

Week 625/5

Week 71/6

Week 88/6

Week 915/6

Week 1022/6

Term 3

Week 1

13/7

Week 2

20/7

Week 3

27/7

Week 4

3/8

Week 510/8

Week 617/8

Week 724/8

Week 831/8

Week 97/9

Week 1014/9

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Business Planning

Nature of Business Business Management

Business Management Bus Planning

Assess Task #1

Assess Task #2

Yearly Exam #3 BusinessPlanning

Assess Task #4

Assessment schedule

Components WeightingTask 1

Week: 6Term: 1, 2015Nature of Business Test

Task 2Week: 8Term: 2, 2015Interpretation of Financial Stimulus

Task 3Week: 7/8Term: 3, 2015Yearly Exam

Task 4Week: 10Term: 3, 2015Business Plan

Knowledge 40% 20% 20%

Research 20% 20%

Stimulus 20% 20%

Communication 20% 10% 10%

TOTAL MARKS:

100% 20% 20% 30% 30%

Outcomes P1, P2 P8, P10 P3, P4, P5, P6 P7, P9

Course Outline Components:

1. Nature of Business2. Business Management3. Business Planning

Outcomes

P1 Discusses the nature of business, its role in society and types of business structure

P2 Explains the internal and external influences on businesses

P3 Describes the factors contributing to the success or failure of small to medium enterprises

P4 Assesses the processes and interdependence of key business functions

P5 Examines the application of management theories and strategies

P6 Analyses the responsibilities of business to internal and external stakeholders

P7 Plans and conducts investigations into contemporary business issues

P8 Evaluates information for actual and hypothetical business situations

P9 Communicates business information and issues in appropriate formats

P10 Applies mathematical concepts appropriately in business situations

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Objectives and Outcomes

Objectives Preliminary outcomesThe student develops knowledge and understanding about:

The student:

The nature, role and structure of business P1 discusses the nature of business, its role in society and types of business structure

Internal and external influences on business P2 explains the internal and external influences on businesses

P3 describes the factors contributing to the success or failure of small to medium enterprises

The functions and processes of business activity

P4 assesses the processes and interdependence of key business functions

Management strategies and their effectiveness

P5 examines the application of management theories and strategies

P6 analyses the responsibilities of business to internal and external stakeholders

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

P7 plans and conducts investigations into contemporary business issues

P8 evaluates information for actual and hypothetical business situations

communicate business information and issues using appropriate formats

P9 communicates business information and issues in appropriate formats

apply mathematical concepts appropriate to business situations

P10 applies mathematical concepts appropriately in business situations

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Preliminary Course Overview

Preliminary course structure (120 indicative hours)

Topic Indicativehours

% of coursetime

Nature of business 24 20

Business management 48 40

Business planning 48 40

Content: Business Studies Preliminary course

9.1 Preliminary topic: Nature of business 20% of indicative time

The focus of this topic is the role and nature of business in a changing business environment.

Outcomes

The student:P1 discusses the nature of business, its role in society and types of business structureP2 explains the internal and external influences on businesses P6 analyses the responsibilities of business to internal and external stakeholdersP7 plans and conducts investigations into contemporary business issuesP8 evaluates information for actual and hypothetical business situations

Content

Students learn to:

examine contemporary business issues to:discuss the global expansion of one Australian businessdiscuss the expansion into Australia of one global businessexplain how changes in external influences have contributed to the growth of the tertiary, quaternary and

quinary industries in Australiaidentify problems that arise for stakeholders when companies go into liquidation

investigate aspects of business using hypothetical situations and actual business case studies to:distinguish between the different types of businessesidentify actual businesses at different stages in the business life cycleoutline possible business strategies appropriate for different stages in the business life cycle

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Students learn about:

role of business the nature of a business

producing goods and servicesprofit, employment, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life

types of businesses classification of business

size – small to medium enterprises (SMEs), largelocal, national, globalindustry – primary, secondary, tertiary, quaternary, quinarylegal structure – sole trader, partnership, private company, public company, government enterprise

factors influencing choice of legal structuresize, ownership, finance

influences in the business environmentexternal influences – economic, financial, geographic, social, legal, political, institutional, technological,

competitive situation, marketsinternal influences – products, location, resources, management and business culture stakeholders

business growth and declinestages of the business life cycle

establishmentgrowthmaturitypost-maturity

responding to challenges at each stage of the business life cycle factors that can contribute to business declinevoluntary and involuntary cessation – liquidation

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9.2 Preliminary topic: Business management40% of indicative time

The focus of this topic is the nature and responsibilities of management in the business environment.

Outcomes

The student:P2 explains the internal and external influences on businessesP4 assesses the processes and interdependence of key business functionsP5 examines the application of management theories and strategies P6 analyses the responsibilities of business to internal and external stakeholdersP7 plans and conducts investigations into contemporary business issuesP8 evaluates information for actual and hypothetical business situationsP9 communicates business information and issues in appropriate formatsP10 applies mathematical concepts appropriately in business situations

Content

Students learn to:

examine contemporary business issues to:discuss strategies that could reconcile the conflicting interests of stakeholderscompare and contrast approaches to managementexplain the benefits of quality management practices

investigate aspects of business using hypothetical situations and actual business case studies to:identify the qualities of managers who have exhibited high personal and ethical standardsanalyse different ways of coordinating key business functions for an SMEexamine effective cash flow managementassess the role of the income statement and the balance sheet when describing the financial performance of a

business explain how SMEs manage change effectively

Students learn about:

nature of managementfeatures of effective managementskills of management

interpersonal, communication, strategic thinking, vision, problem-solving, decision-making, flexibility, adaptability to change, reconciling the conflicting interests of stakeholders

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achieving business goalsprofits, market share, growth, share price, social, environmentalachieving a mix of the above goals staff involvement – innovation, motivation, mentoring, training

management approaches classical approach

management as planning, organising and controllinghierarchical organisational structureautocratic leadership style

behavioural approachmanagement as leading, motivating, communicatingteamsparticipative/democratic leadership style

contingency approachadapting to changing circumstances

management processcoordinating key business functions and resourcesoperations

goods and/or servicesthe production processquality management

marketing identification of the target market marketing mix

finance cash flow statementincome statementbalance sheet

human resourcesrecruitmenttrainingemployment contractsseparation – voluntary/involuntary

ethical business behaviour

management and changeresponding to internal and external influencesmanaging change effectively

identifying the need for change - business information systems

setting achievable goalsresistance to changemanagement consultants

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9.3 Preliminary topic: Business planning40% of indicative time

The focus of this topic is the processes of establishing and planning a small to medium enterprise.

Outcomes

The student:P1 discusses the nature of business, its role in society and types of business structureP3 describes the factors contributing to the success or failure of small to medium enterprises P4 assesses the processes and interdependence of key business functionsP6 analyses the responsibilities of business to internal and external stakeholdersP7 plans and conducts investigations into contemporary business issuesP8 evaluates information for actual and hypothetical business situationsP9 communicates business information and issues in appropriate formatsP10 applies mathematical concepts appropriately in business situations

Content

Students learn to:

examine contemporary business issues to:discuss the influence of government on SMEsassess the effect of two changes in the business environment on SMEs

investigate aspects of business using hypothetical situations and actual business case studies to:explain how the business plan is determined in at least one SMEexplain how SMEs can enter the global market for long-term growthidentify ways that SMEs gain a competitive advantage

prepare a small business plan:based on a hypothetical or actual business presented in a business plan/report format

Students learn about:

Small to medium enterprises definitionroleeconomic contribution success and/or failure

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influences in establishing a small to medium enterprisepersonal qualities – qualifications, skills, motivation, entrepreneurship, cultural background, gender sources of informationthe business idea – competitionestablishment options – new, existing, franchisemarket – goods and/or services, price, locationfinance – source, costlegal – business name, zoning, health and other regulationshuman resources

skillscosts – wage and non-wage

taxation – federal and state taxes, local rates and charges

the business planning processsources of planning ideas

situational analysisvision, goals and/or objectives

vision business goalslong-term growth

organising resourcesoperationsmarketingfinancehuman resources

forecasting total revenue, total costbreak-even analysiscash flow projections

monitoring and evaluationssalesbudgetsprofit

taking corrective action

critical issues in business success and failureimportance of a business plan management – staffing and teamstrend analysis identifying and sustaining competitive advantageavoiding over-extension of finance and other resourcesusing technologyeconomic conditions

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Summary of internal assessment

Internal assessment WeightingKnowledge and understanding of course content 40

Stimulus-based skills 20Inquiry and research 20Communication of business information, ideas and issues in appropriate forms

20

No more than 50% weighting may be allocated to tests and examinations.

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Performance band descriptors Business Studies – Performance band descriptionsThe typical performance in this band:Band 6demonstrates 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 5demonstrates thorough knowledge and understanding of business functions and operations analyses the nature, role and structure of business analyses management responses to internal and external influences that affect business interprets and applies numerical data to analyse and solve business problems and predict future trends applies contemporary business issues when analyzing management responses and strategies communicates using business terminology, concepts and comprehensive case studies in a variety of appropriate formats Band 4demonstrates 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 3demonstrates 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 2demonstrates 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

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Directive Verb Glossary

ACCOUNT State reasons for, report on, explain. Give an account of, narrate a series of events or transactionsANALYSE Identify components and the relationship between them, draw out and relate implicationsAPPLY Use, utilise, employ in a particular situationAPPRECIATE Make a judgment about the value of. Include evidence/examplesASSESS Make a judgment of value, quality, outcomes, results or size. Give your opinion with facts.CALCULATE Ascertain / determine from given facts, figures or informationCLARIFY Make clear or plainCLASSIFY Arrange or include in classes / categoriesCOMPARE Show how things are similar or different (hint – use a Venn diagram)CONSTRUCT Make, build, put together items or argumentsCONTRAST Show how things are different or oppositeCRITICALLY(analyse / evaluate) Add a degree or level of accuracy, depth, knowledge and understanding, logic, questioning, reflection and quality to analysis/evaluationDEDUCE Draw conclusionsDEFINE State meaning and identify essential qualitiesDEMONSTRATE Show by exampleDESCRIBE Provide characteristics and features of the item / conceptDISCUSS Identify issues and provide points for and/or againstDISTINGUISH Recognise and indicate as being distinct or different from, to note differences between thingsEVALUATE Make a judgment and give your opinion based on criteria, determine the value ofEXAMINE Inquire into, find out the factsEXPLAIN Relate cause and effect, make the relationships between things evident, provide the why and/or how about the item / conceptEXTRACT Choose relevant and/or appropriate detailsEXTRAPOLATE Infer from what is knownIDENTIFY Recognise and nameINTERPRET Draw meaning fromINVESTIGATE Plan, inquire into and draw conclusions aboutJUSTIFY Support an argument or conclusion with evidence and examplesOUTLINE Sketch in general terms, indicate the main features ofPREDICT Suggest what may happen based on available informationPROPOSE Put forward a point of view, idea, argument or suggestion for consideration or actionRECALL Present remembered ideas, facts or experiencesRECOMMEND Provide reasons in favourRECOUNT Retell a series of eventsSUMMARISE Concisely express the relevant detailsSYNTHESISE Putting together various elements to make a whole

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Websites

Some useful websites for Study Guides and Strategies: www.hsc.csu.edu.au www.boardofstudies.nsw.edu.au www.boredofstudies.org www.studygs.net www.tale.edu.au www.cli.nsw.edu.au

(Each of the universities websites also has tips and guides, so try a search under their names.)

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