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SAMPLE TEACHING PROGRAMfor 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

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.

Syllabus outcomesThe student:

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

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

H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms.

Syllabus contentStudents learn to:

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.


A fully integrated case study – Lend Lease (Chapter 24) – is to be used in conjunction with the relevant topic chapters.)

Resources: Business Studies in Action – HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt – John Wiley (Jacaranda) 2005

1.1 The nature of management

SyllabusOutcomes

Syllabus ContentStudents learn about:

Teaching/Learning Activities

H2.1

H3.2

H3.3

H4.1

H5.1

H5.3

1. Traditional and contemporary definition of management

2. The importance of effective management

3. Management roles

- interpersonal- informational- decisional

4. 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

- 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’ pp15-16.

- 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 pp17-23.

- Read Snapshot ‘Steven Kargill’ p18. Identify the management skills used by Steven Kargill.

- Discuss Snapshot ‘The 7 habits of highly effective people’ p20.


SyllabusOutcomes



5. Responsibility to stakeholders; reconciling conflicts of interest

- 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 10-15 line summary of each.

- 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 www.jaconline.com.au/businessstudies3e 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 pp26-27.

- 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 www.jaconline.com.au/businessstudies3e and access the Drucker Foundation’s website. Select and read an article that deals with an area of management.


1.2 Understanding business organisations with reference to management theories

SyllabusOutcomes



H3.1

H5.1

H5.3

1. 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.36.

- 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 39-40 and construct a mind map summarising the three main types of leadership styles.


SyllabusOutcomes



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’ pp42-43. 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 www.ac.com 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 pp46-48.

- Construct a hierarchical and flat management structure. Contrast the two diagrams by listing their differences pp48-49.

- 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.


SyllabusOutcomes



4. Political management theory

- uses of power and influence, management as negotiating and bargaining

- structure as coalitions- stakeholder view

5. Strengths and weaknesses of the classical, behavioural and political approaches

- Define term ‘politics’ p52.

- Identify and explain the central ideas of the political management theory pp53-54.

- 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 p56.

- Refer to table 2.1 pp57-58. Identify three strengths and three weaknesses of each management theory.


SyllabusOutcomes



6. Systems/contingency management theoryadapting 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.


1.3 Managing change/ change and social responsibility

SyllabusOutcomes



H3.2

H4.2

H5.1

H5.3

1. 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?’ pp65-66.

- 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 pp69-72. 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 www.jaconline.com.au/businessstudies3e 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.


SyllabusOutcomes



internal influences:

- effects of accelerating technology including e-commerce

- new systems and procedures- new business cultures

structural responses to change:

- outsourcing- flat structures- strategic alliances- networks

- Define the terms ‘technology’ and ‘e-commerce’ pp 74-75.

- Examine figure 3.6 p74. Discuss the impact of technology on:(a) work practices(b) interaction between employees(c) the issue of email surveillance.

- Explain the nature of business culture. Read and discuss Snapshot ‘Creative culture – the Branson way’

- 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 www.jaconline.com.au/businessstudies3e and access Digital Computers website. Prepare a brief report on the value of Digital’s strategic alliances.


SyllabusOutcomes



2. Reasons for resistance to change

financial costs including:

- purchasing new equipment- redundancy payouts- retraining- reorganising plant layout

inertia of managers, owners

cultural incompatibility in mergers/takeovers

staffing

- de-skilling- acquiring new skills- loss of career prospects/promotional

opportunities

- (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 pp82-83.

- (a) Outline the term ‘inertia management’ p83. (b) Students to recount personal situations of ‘inertia’.

- Read and discuss Snapshot ‘World’s largest corporate loss - $A168 billion’ p84. Explore the reasons for the cultural incompatibility.

- 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 pp84-85.


SyllabusOutcomes



3. Managing change effectively

- identifying the need for change- setting achievable goals- creating culture of change (encouraging

teamwork approach using change agents)

change models

- force field analysis- Lewin’s change/unfreeze/refreeze model

- 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.

- Draw figure 3.18 p89.

- Explain the purpose of a model.

- Distinguish between ‘driving’ forces and ‘restraining’ forces p89.


SyllabusOutcomes



4. Change and social responsibility

- ecological sustainability- quality of working life- technology- globalisation/managing cultural diversity- e-commerce

- 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?

- Define term ‘social responsibility’ p91.

- Brainstorm why a business should be concerned with its social responsibility p91.

- Read and discuss Snapshot ‘Socially responsible companies’ pp91-92.

- 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 pp513-514.


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:

Outcomes 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:


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.






H4.2 evaluates management strategies in response to internal and external factors


H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format

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.


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.

Resources: Business Studies in Action- HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt – John Wiley (Jacaranda) 2005

2.1 The role of financial planningSample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005


SyllabusOutcomes



H2.1

H3.2

H5.3

H5.4

1. Strategic role of financial management

2.Objectives of financial management

- liquidity- profitability- efficiency- growth- return on capital

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

- Revise the purpose of organisational goals and objectives, and strategic plans pp100-101.

- Read Starter Story p99. Discuss the problems that Gerry and Tony’s computer business experienced.

- Explain, using examples, the objectives of financial management pp102-103.

- Introduce acronym LPEGR. (Liquidity, Profitability, Efficiency, Growth, and Return on capital.)

- Read and discuss Snapshot ‘ DJs follows golden thread of young’ pp 103-104. Summarise the actions that were taken to improve the growth of this business.

- Draw and discuss figure 4.4 p105.

- Briefly outline the need for a planning cycle. Examine each stage of the planning cycle.

- Read and discuss Snapshot ‘Conquer and control’ pp106-108. 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.


SyllabusOutcomes



- Explain the difference between:(a) operating budgets(b) project budgets(c) financial budgets.

- Analyse and interpret budgeted revenue statement figure 4.6 p109.

- 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 p110.

- Prepare a budget cash flow statement from data in revision question 6 p115.

- 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 p111.

- Read and discuss Snapshot ‘How to avoid a cash flow crisis’ pp113-114.

- Examine figure 4.12 p114. Explain the role of a variance report.

- Complete activity 9 p116 to show the purpose of a variance report.

2.2 Financial markets relevant to business financial needsSample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005

SyllabusOutcomes



H2.1

H5.3

1. Introduction to financial markets

2. Major participants in financial markets

- Banks- financial and insurance companies- merchant banks- superannuation/mutual funds- companies- government (Reserve Bank of Australia)

3. Role of the Australian Stock Exchange as a primary market

- Outline the role of financial markets in meeting the needs of businesses pp117-118.

- Examine the different types of financial markets p118.

- Construct a table to summarise the major participants (pp119-124) in financial markets. The three headings are ‘Institution’, ‘Financial Instrument’ and ‘Special Characteristics’.

- Read and discuss Snapshot ‘Big banks work hard on small business’ pp120-121.

- 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 ASXp125.

- Students to purchase a parcel of shares and plot their performance over a ten-week period.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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.


SyllabusOutcomes



4. Influences on financial markets

- domestic market influences- overseas market influences

5. Trends in financial markets

- 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’ pp128-131.

- Use newspapers, magazines and the Internet create a collage of financial products available to businesses.

2.3 Management of fundsSample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005

SyllabusOutcomes



H3.2

H3.3

H4.2

H5.3

H5.4

1. 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

2. Financial considerations

- matching the terms and source of finance to business

- purpose and structure

- 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 pp136-138.

- Select a balance sheet and identify and explain the sources of finance.

- Outline the advantages and disadvantages of factoring pp138-139.

- Read and discuss Snapshot ‘Sharp credit policies can save grief’ pp138-139.

- Contrast ‘venture capital’ and ‘grants’ p140.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Australian Venture Capital Association website. Find out the sources of funds available for businesses.

- 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


SyllabusOutcomes



3. Comparison of debt and equity financing

- costs and benefits- risks- gearing/leverage

- Define debt and equity finance pp143-145.

- 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.

2.4 Using financial informationSample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005

SyllabusOutcomes



H2.1

H3.2

H5.1

H5.2

H5.4

1. The accounting framework

financial statements

- revenue statement- balance sheet- the accounting equation and relationships

2. Types of financial ratios

liquidity

- current ratio

solvency

- gearing debt to equity

- 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 p151.

- Discuss who would be interested in financial information and why.

- Revise the accounting equation from the Preliminary Course; Assets = Liabilities + Owner’s Equity p185.

- Investigate a balance sheet figures 7.6-7.9 pp153-154 to determine the accounting equation.

- Outline the purpose of analysing financial ratios p157.

- Define term ‘liquidity’ and outline current ratio (working capital) p158.

- Complete example p158.

- Define term ‘solvency’ and outline debt to equity ratio pp159-160.

- Complete example p160.

- Discuss Biz Fact p159


SyllabusOutcomes



profitability

- gross profit ratio- net profit ratio- return on owner’s equity

efficiency

- expense ratio- accounts receivable turnover ratio

3. Comparative ratio analysis

- over time- with similar businesses- against common standards

- Define term ‘profitability’ and outline the three ratios pp161-162. Gross profit ratio Net profit ratio Return on owners’ equity

- Complete GP, NP and ROE examples pp1161-162.

- Define term ‘efficiency’ and outline expense and accounts receivable turnover ratios pp162-163.

- Complete efficiency ratio examples p163.

- Students to prepare their own financial ratio summary card pp164-165.

- Apply common ratio analysis and assess the results pp168-169.

- Complete and discuss examples pp168-169.

- Clarify why firms compare their results with industry standards and benchmarks p169.

- Interpret profitability trends over a number of years and explain why it is difficult to compare businesses over time p169.


SyllabusOutcomes



4. Limitations of financial reports

- historical costs- value of intangibles

- Using examples, explain the limitations of financial reports pp169-171.

- Complete a point summary under the following headings: Historical costs Value of intangibles.


2.5 Effective working capital (liquidity) management

SyllabusOutcomes



H2.1

H4.2

H5.1

H5.3

H5.4

1. The working capital ratio

2. Control of current assets

- cash- receivables- inventories

3. Control of current liabilities

- payables- loans- overdrafts

4. Strategies for working capital management

- leasing- factoring- sale and lease back

- Revise concept of working capital (liquidity) management pp175-176.

- Draw figure 8.1 and explain the importance of working capital management p174.

- Complete working capital example p176.

- Revise meaning of current assets p177.

- Read and construct mind map summary of cash, receivables and inventories pp177-178.

- Group work/extension exercise. ‘Over investment in working capital ties up cash flow. Under investment in working capital reduces profits.’ Explain these statements.

- Revise concept of current liabilities p179.

- Read and construct mind map summary of payables, loans and overdrafts pp179-180.

- Extension activity. Explain, using diagrams, the relationship between accounts receivable, accounts payable and the need for finance.

- Revise concepts of leasing and factoring.

- Read Snapshot ‘Buy, lease or loan?’ pp181-182. Discuss how lease-back can assist a business in the longer term.


2.6 Effective financial planning

SyllabusOutcomes



H2.1

H3.2

H4.2

H5.3

1. Effective cash flow management

- cash flow statements

management strategies- distribution of payments- discounts for early payment

2. Effective profitability management

cost control

- fixed and variable- cost centres- expense minimisation

revenue controls

- sales objectives- sales mix- pricing policy

- Revise the concept of cash flow using figure 8.4 p184.

- List examples of a business’s inflows and outflows of cash p184.

- 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 184186.

- Discuss various management strategies that can be used to minimise temporary cash flow problems pp186.

- Read and discuss Snapshot ‘Find the cash’ pp186-187.

- Draw and explain figure 8.8 p190.

- Explain, using examples, the difference between fixed and variable costs p189-190.

- Outline the importance of managing costs and revenue in a business pp189-190.

- Justify financial management strategies based on revenue statement information p193.

- Present a diagram to illustrate main points on revenue controls p190-191.

- Read and discuss Snapshot ‘Holeproof campaigns sock it to shoppers’ pp191-192.

2.7 Ethical and legal aspectsSample Business Studies Program: Business Studies in Action HSC Course 3rd Edition: Chapman, Norris, Devenish, & Merritt, John Wiley & Sons Australia Ltd, 2005

SyllabusOutcomes



H3.2

H4.1

H4.2

H5.1

H5.3

1. Ethical and legal aspects

- audited accounts- inappropriate cut off periods- misuse of funds

2. Australian Securities and Investment Commission

3. Corporate raiders and asset stripping

- Class discussion. ‘Why are ethical aspects important to consider in financial management? pp193-194.

- Outline the role of the auditor in financial management

- Describe some common auditry issues.

- Briefly outline the three types of audits p194-195. Internal Management External

- Read and discuss Snapshot ‘Risk neglected’ p195.

- Describe the role of ASIC and evaluate its effectiveness in enforcing and administering the Corporations Law p196.

- Internet activity. Access ASIC’s website at www.asic.gov.au 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 pp100-195. HSC Practice questions pp515-516.



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 funds2.4 Using financial information 2.5 Effective working capital (liquidity) management 2.6 Effective financial planning2.7 Ethical and legal aspects


Content examined:

Outcomes achieved:













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

The student:

H1.2 critically analyses the role of business in Australia.







Syllabus content

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).

Resources: Business Studies in Action- HSC Course, 3rd edition; Chapman, Norris, Devenish and Merritt – John Wiley (Jacaranda) 2005

3.1 Nature and role of markets and marketing



SyllabusOutcomes



H1.2

H2.1

H5.1

H5.2

H5.3

1. Introduction to marketing

2. The role of marketing in the firm and in society

3. Types of markets

- resource- industrial- intermediate- consumer- mass- niche

4. Production-selling-marketing orientation

5. The marketing concept

- customer orientation- relationship marketing

- Discuss the ‘Coca-Cola’ story pp200-201.

- 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 p202.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Coke and Pepsi websites. Examine the differences and similarities between the marketing of these two products.

- Draw figure 9.2 p203 and provide a brief description of each type of market pp203-205.

- 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.

- Examine figure 9.6 p207. Discuss how the focus of marketing strategies has changed over time pp207-208.

- Define the meaning of ‘marketing concept’ p208-209.

- Prepare point summary of the marketing approach as it moved through two stages from the 1960s to the present pp208-209.


SyllabusOutcomes



6. Marketing planning process

- Suggest reasons why a business would want to adopt a customer oriented approach to marketing 209.

- 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’ p210.

- List and briefly outline the five steps involved in the marketing planning process pp211-212.

- Create a flow chart based on figure 9.11 p211.

- Outline the interrelated nature of each step of the marketing process.

- Briefly introduce the four Ps as part of the marketing strategies.


3.2 Elements of a marketing plan

SyllabusOutcomes



H2.1

H3.2

H5.2

H5.3

1. Introduction

2. Situational analysis

- SWOT- product life cycle

- Introduce and identify the five elements involved in developing a marketing plan p215.

- 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.

- Outline the value of a SWOT analysis when reviewing the business’s situation p216.

- Revise the concept of product life cycle p216.

- Read and discuss Snapshot ‘It’s on the cards’ pp216-217.

- 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.


SyllabusOutcomes



3. Establishing marketing objectives

4. Identifying target market

- Discuss the marketing objective of increasing market share. Use Australian Consolidated Press (ACP) as an example p218.

- Explain the purpose of product mix by referring to figure 10.4 p219.

- Using the school canteen identify the product range for specific items.

- Outline the reasons why some businesses wish to increase their geographic representation p219.

- Read and discuss Snapshot ‘Keep the customer satisfied’ p220.

- Discuss the reasons why maximising customer service is so important.

- Role play ‘good’ and ‘poor’ customer service situations.

- Revise the concepts of market segmentation and target market, p222.

- Distinguish between total market and market segmentation approach p263.

- Examine a range of magazines and newspapers and identify the intended target markets for each publication.


SyllabusOutcomes



5. Developing marketing strategies

6. Implementing, monitoring and controlling the marketing plan

- developing a financial forecast- comparing actual and planned results- revising the marketing strategy

- Briefly outline the four Ps of marketing pp223-224.

- Examine figure 10.8 p223. Predict what would happen when factors within the marketing environment may change.

- Explain why the implementation stage is as important as developing marketing objectives pp225-226.

- Outline the difference between monitoring and controlling pp226-227.

- 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 pp227-228.

- Discuss figure 10.10 p228. Explain the difference between forecast and actual sales results.

- Brainstorm possible marketing strategies to overcome declining sales revenue pp228-229 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’ pp230-238.


3.3 Market research and customer buyer behaviour

SyllabusOutcomes



H2.1

H5.1

H5.2

H5.3

1. Market research process

2. Determining information needs

3. Data collection (primary and secondary)

4. Data analysis and interpretation

5. Customer and buyer behaviour

6. Types of customers

- people- households- firms- educational institutions- government- clubs and societies- religious organisations

- Define term ‘market research’ p240-241.

- Explain why it is important for businesses to undertake market research p240.

- Examine and discuss figure 11.2 p241.

- Read Biz Fact p241.

- Examine figure 11.3 p242. Distinguish between primary and secondary data.

- Read and discuss Snapshot ‘Tracking the moods, hour by hour’ p243.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the ACNielsen marketing service. Examine the services ACNIelsen offers its clients.

- Secondary data: internal and external p245.

- Outline the meaning of statistical interpretation analysis p245.

- Distinguish between customer and organisation buying behaviour p247-250.

- Draw figure 11.7 p247 and read pp 247-250. Prepare a brief description of each type of customer.

- Read and discuss Snapshot ‘KGOY – Kids getting Older Younger’ pp248-249.

- Debate the issues involved in advertising to children.


SyllabusOutcomes



7. The buying process

- buyers and users

8. Factors influencing customer choice

- psychological- sociocultural- economic- government

- Examine figure 11.9 and outline the buying process pp251-252.

- Students to recount their own buying process for a selected item.

- Examine figure 11.10 and provide examples for each of the four main influences on customer choice p252.

- Create a table and provide a brief summary of the four main factors influencing customer choice pp252-256.

- 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 www.jaconline.com.au/businessstudies3e 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.


3.4 Developing marketing strategies

SyllabusOutcomes



H2.1

H3.2

H5.1

H5.3

1. Introduction

2. Marketing segmentation and differentiation of products and services

3. Products and services

- positioning- branding- packaging

- Identify the four marketing strategies (4Ps) that make up the marketing mix p258.

- 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 p303.

- Select four specific products and illustrate how they are differentiated from their competitors’ p261.

- Explain why marketers prefer to use the term ‘total product concept’ rather than simply ‘product’ pp262-263.

- Select a range of products and discuss their positioning p263.

- Read and discuss snapshot ‘A well-positioned and ‘sophisticated’, product’ pp263-264.

- Complete brand recognition test figure 12.5 p264.

- Suggest reasons why businesses spend so much money attempting to establish a brand name and brand symbol pp264-265.

- Describe the functions of packaging pp265-266.


SyllabusOutcomes



4. Price and pricing methods

- cost- market- competition based

pricing strategies/tactics

- skimming- penetration- loss leaders- price points

- price and quality interaction

5. Promotion

elements of the promotion mix

- personal selling- advertising- below-the-line promotions- PR/publicity

the communication process

- opinion leaders- word of mouth

- Provide brief explanation of each pricing method pp266-267.

- 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 pp266-267.

- 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? p310.

- Outline the main purposes of promotion p268 and the promotion mix pp268-271.

- Collect examples of the four elements of the promotion mix pp268-271.

- Suggest reasons why below-the-line promotion is increasing in popularity among marketers p271.

- ‘Advertising is what you pay for and publicity is what you pray for’. Explain by examining figure 12.11 p271.

- Explain why efficient communication is important to marketers pp271-272.

- List some opinion leaders used by marketers. Discuss the value of using such people.


SyllabusOutcomes



6. Place/distribution

- distribution channels and reasons for intermediaries

channel choice

- intensive- selective- exclusive

physical distribution issues

- transport- warehousing- inventory

environmental effects on distribution

- technology- local government

- Devise a marketing channel for the sale of newspapers, washing machines, DVD players, exported luxury motor vehicles and office furniture p273.

- Outline term market coverage p273.

- Explain, using figure 12.13 p274, the different market coverage strategies.

- Suggest reasons why a business would select an exclusive rather than an intensive distribution strategy pp273-274.

- ‘Holding either too little or too much stock is to be avoided’. Elaborate p275.

- Individual research. The growth of non-store retailing p275.

- Predict the impact of technology on non-store retailing pp275-276.

- Brainstorm the advantages and disadvantages to a business of selling via the Internet p275.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access Yahoo! shopping. Evaluate the ease of navigating this site.

- Examine figure 12.16 p277. Analyse the marketing techniques used by the Coca-Cola Company.


3.5 Ethical and legal aspects of marketing

SyllabusOutcomes



H1.2

H4.1

H5.1

H5.3

1. Introduction

2. Criticisms of some marketing strategies

3. Environmentally responsible products

- Distinguish between ‘ethics’ and ‘laws’ p279.

- Evaluate the four basic legal and ethical positions as shown in figure 13.1 p279.

- Discuss the ethical issues involved in:(a) sponsorship deals p280(b) product placement p280.

- 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?’ p281.

- Revise the concept of ‘environmentalism’ pp281-282.

- Outline the impact environmentalism has had upon marketing practices. Provide examples p282.

- Class discussion. ‘Green marketing is just a clever marketing strategy to make purchasers feel good’.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the American Marketing Association and the Marketing Association of Australia and New Zealand websites. Outline the purpose of a code of ethics.


SyllabusOutcomes



4. Other marketing ethical and legal issues

- materialism (creation of needs)- impact of retail developments- sugging

5. Role of consumer laws in dealing with

- deceptive and misleading advertising- price discrimination- implied conditions- warranties- resale price maintenance

- Discuss the meaning of figure 13.5 p284.

- (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 p284.

- Recount individual experiences of sugging.

- Outline relevant federal and state consumer legislation p285-286.

- Justify the need for a Trade Practices Act p285.

- Provide examples of some deceptive and misleading advertising techniques pp285-287.

- Discuss Biz Fact p286 and p288.

- Examine figure 13.7. Role-play a bait and switch situation p286.

- Topic revision: class quiz or test using Biz Words pp201-289. HSC Practice Questions pp517-518.



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


Content examined:

Outcomes achieved:













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.



H2.2 evaluates processes and operations in global business




H4.2 evaluates management strategies in response to internal and external forces




H5.4 applies mathematical concepts appropriately in business situations.


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.




4.1 The nature of employment relations

SyllabusOutcomes



H2.1

H3.2

H3.3

H4.2

H5.3

1. 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’ p292.

- Examine figure 14.2 and compare and contrast the main objectives of each stakeholder p293.

- Identify possible sources of conflict between the stakeholders.

- Briefly outline the main roles of employers and employees pp294-295.

- 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 p295.

- Discuss the reasons for declining union membership levels p296-297.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the ACTU web site for current campaigns and press releases.

- Read and discuss Snapshot ‘Interview with Dave Oliver’ pp297-298 and ‘Role of the ACTU’ p299.

- Outline the role of employer associations p300.

- Read and discuss Snapshot ‘An interview with Katie Lahey’ pp300-301.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the website of the Australian Chamber of Commerce and Industry. Outline the role of this employer association.


SyllabusOutcomes



3. Managing the employment relations function

- line management and specialist

- Provide an overview of governments and government organisations as stakeholders in employment relations issues pp301-303.

- Outline the role industrial tribunals and courts (AIRC) pp303-304.

- Read and discuss Snapshot ‘What have the governments and courts got to do with my job?’ pp3-4-305.

- Outline the role of:(a) Federal Court(b) Employment Advocate pp305-306.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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.

- Distinguish between line manager and specialist by analysing management functions within the school pp306-307.


- Examine figure 14.10 and introduce the role of the employment relations specialist.


4.2 Key influences on employment relations

SyllabusOutcomes



H2.2

H4.1

H4.2

H5.1

1. Introduction

2. Social influences

- changing work patterns- population shifts

3. 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

- Discuss figure 14.13 p309.

- 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 pp310-311.

- Brief introduction. (Covered in more detail in chapter 16).

- Distinguish between centralised and decentralised p311.

- Recall impact of new organisational behaviour p312.

- Recall stages of the economic cycle p312.

- Predict job gains figure 14.14 p313.

- Define and discuss term ‘globalisation’ p314.

- Read and discuss Snapshot ‘Burger for burger’ pp314-315.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the ‘Selected Company Websites’ to locate their annual reports. Research the employment relations approaches of two businesses.


4.3 Effective employment relations

SyllabusOutcomes



H2.1

H3.2

H4.1

H5.1

H5.2

H5.3

1. Role of employment relations

2. Importance of communication systems

- grievance procedures- worker participation- team briefings

3. Rewards

- financial- non-financial

- Briefly outline the key functions of employment relations pp318-322 and figure 15.3 p319.

- 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 p320.

- Account for the need for grievance procedures p323.

- Write a letter of praise/reprimand p324.

- Write a report for management on joint consultative committees pp324-325.

- 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.

- Distinguish between ‘intrinsic’ and ‘extrinsic’ rewards pp326-328 with reference to figure 15.11 and table 15.1 p327.

- 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.


SyllabusOutcomes



4. Training and development

- induction

5. Flexible working conditions

- family-friendly programs

6. Measures of effectiveness

- level of staff turnover- absenteeism- disputation- quality- benchmarking

- Discuss the importance of an induction process. Relate this to the workplace culture pp328-329.

- Brainstorm the costs of a poor induction program pp28-329.

- 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 pp330-331.

- Identify the types of flexible working conditions available in many businesses pp332-333.

- Read and discuss Snapshot ‘Life work’ pp 333-335.

- Brainstorm the possible benefits achieved through family-friendly practices. Refer to figure 15.18 p336 and figure 15.19 p337.

- Introduce employment relations audit p337.

- Explain why the effectiveness of employment relations in a business cannot be evaluated using a quantitative approach alone p338.

- Examine table 15.2 p338. Comment on five employment relations effectiveness indicators.

- Read and discuss Snapshot ‘Summary of key human resource benchmarks (median) pp339-340.

- Identify a range of qualitative measurement that could be used to evaluate the effectiveness of the employment relations function p340.


4.4 Legal framework of employment

SyllabusOutcomes



H2.1

H3.3

H4.2

H5.1

H5.3

1. 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 p345.

- Outline the meaning of a ‘contract’ and ‘common law’ p344-345.

- List the responsibilities and obligations of employers and employees under common law p345-346.

- Discuss the concept of duty of care p346.

- Group research. Research the main features of the NSW OH&S Act 2001.

- Read and discuss Biz Facts p346..

- Define term ‘statutes’ p347. Read and discuss Biz Fact p348.

- Select two pieces of federal legislation from table 16.1 p348-349 and comment upon their importance.

- Examine the evolution from a centralised to a more decentralised system pp350-352.

- Group research. Present an oral or written report on the advantages and disadvantages of the Workplace Relations Act for both employers and employees pp350-351.

- Analyse the most recent industrial relations reforms pp351-354. Use table 16.4 as a basis of comparison pp352-353.

- Examine the changing world of employment relations using table 16.5 as a basis of comparison pp354-355.


SyllabusOutcomes



- Read and discuss Snapshot ‘All this legal stuff is giving me a headache’ pp358-359.

- 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 pp360-362.

- Examine and discuss figure 16.9 p361.

- Examine figure 16.10 p362 for an overview of the agreement-making process.

- Outline the difference between certified and Australian workplace agreements pp362-365.

- Read and discuss Snapshot ‘Everyone is involved in enterprise bargaining – even the Australian Rugby Union!’ pp363-364.

- Examine figure 16.12 p365. Discuss the message the cartoonist conveys.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Office of the Employment Advocate website. Discuss the advantages and disadvantages of using a template for AWAs designed by the OEA.


SyllabusOutcomes



2. Types of employment contract

- casual- part-time- flexible- permanent

- Distinguish between casual, part-time, flexible and permanent employment contracts pp366-368.

- Brainstorm advantages and disadvantages of casualisation of the workforce pp367-368.

- Extension activity. The federal government wishes to further decentralise workplace relations. Debate this issue.


4.5 Industrial conflict

SyllabusOutcomes



H2.1

H3.2

H3.3

H4.2

H5.1

H5.2

H5.3

H5.4

1. Definition and causes

- wage demands- working conditions- management policy- political goals- social issues

2. Perspectives on conflict

- unitary- pluralist- radical

3. Types of industrial action

Overt

- lockouts- pickets- strikes- bans- work-to-rule

- Define terms ‘conflict’ and ‘dispute’ p370.


- Analyse table 17.1 pp370-371. Examine the trend in industrial disputes in Australia since 1998.

- Comment on the trend in the number of disputes over the period 1989-2002 table 17.1 pp370-371.

- 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 pp371-372.

- Examine figure 17.3 p373. Role-play the three different perspectives shown.

- Brainstorm reasons why a person would adopt a particular perspective on conflict.

- Distinguish between overt and covert industrial action pp375-379.

- Identify the types of overt industrial action that can be taken by employees and employers figure 17.5 p375.

- Prepare a brief description of each type of overt industrial action pp375-379.

- Read and discuss Snapshot ‘Fuli Xerox industrial dispute 2004’ pp377-378.


SyllabusOutcomes



Covert

- absenteeism- sabotage- turnover- exclusion from decision-making in business

4. Roles of stakeholders in resolving disputes

5. Dispute resolution processes

- conciliation- arbitration- grievance procedures- negotiation- mediation- common law action- business/division closure

6. Costs and benefits of industrial conflict

- financial- personal- social- political- international

- Read and discuss Snapshot ‘Sickies cost!’ pp379-380.

- Prepare a brief description of each type of covert industrial action pp380-381.

- List the key stakeholders involved in resolving disputes. Briefly outline their main role. Figure 17.9 p382.

- Revise grievance procedures pp383.

- Role-play situations of negotiation, conciliation and arbitration pp383-384.

- Distinguish between negotiation, conciliation and arbitration pp383-384.

- Outline the advantages of mediation compared to common law action p385.

- Individual research. Collect media presentations and articles of recent industrial disputes. Identify the processes used to resolve the disputes.

- Brainstorm the financial, personal, social, political and international benefits and costs of industrial conflict.

- Compare with figure 17.14 p392 and table 17.3 pp392-393.

- Read and discuss Snapshot ‘Waterfront dispute, 1998’ pp386-391.


4.6 Ethical and legal aspects of employment relations

SyllabusOutcomes



H2.1

H3.3

H4.1

H4.2

H5.1

H5.2

H5.3

1. 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 p395.

- Devise a code of ethics and a code of conduct for the classroom p396.

- Read and discuss Snapshot ‘Management ethics matter’ pp396-397.

- Examine the features of a safe and fair workplace pp397-398.

- 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 p398-399.

- Read Biz Facts p399 and 400.

- 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’ pp400-401.

- Internet activity. Research the role of Workcover by accessing their website at www.workcover.nsw.gov.au.

- Outline the role of workers’ compensation pp402-403.

- Evaluate the effect of workers’ compensation and common law redress pp403-404.


SyllabusOutcomes



- Read and discuss Snapshot ‘Compensation for asbestos victims – James Hardie Industries’ pp404-405.

- Examine figure 18.7 p406. Distinguish between direct and indirect discrimination.

- List the main anti-discrimination legislation p406.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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 p407.

- Outline the purpose of EEO legislation pp407-408.

- Read and discuss Snapshot ‘Gender perceptions’ p408.

- Identify strategies a business can use to improve equity p409.

- Read and discuss Snapshot ‘Sexual harassment behaviour’ pp409-410.

- Investigate the nature and causes of sexual harassment in the workplace.

- Outline the three ways in which an employee may be dismissed p410.

- Examine the recent changes to unfair dismissal legislation pp411-412.

- Read and discuss Snapshots ‘AIRC backs sacking for ‘the finger’ and ‘Office romance not a sacking offence’ pp412-413.

- Debate. ‘Unfair dismissal laws are unfair to employers’.

- Topic revision: class quiz or test using Biz Words pp292-411. HSC Practice questions pp519-520.



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 relations4.4 Legal framework of employment 4.5 Industrial conflict 4.6 Ethical and legal aspects


Content examined:

Outcomes achieved:













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.


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


H2.2 evaluates processes and operations in global business




H4.2 evaluates management strategies in response to internal and external forces





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.




5.1 Globalisation

SyllabusOutcomes



H1.1

H1.2

H2.1

H2.2

H5.1

H5.3

1. Introduction to global economy

2. Nature and trends in globalisation

- growth in the global economy- changes in markets (financial/capital, labour,

consumer)

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

- Identify main global influences affecting the Australian business environment p418.

- Define term ‘globalisation’ by reading Snapshot ‘What is globalisation?’ p419.

- Demonstrate the possible impact of global business upon everyday life; provide examples pp419-421.

- 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 pp421-423 under the heading ‘Changes in Markets’.

- Analyse figure 19.5 p423. Predict future trends.

- Using the sub-headings 1945-60; 1960-80; 1980 to the present; prepare a point summary pp423-424.

- Identify five drivers of globalisation, figure 19.7 p425.

- Prepare a mind map summary of ‘Role of TNCs’ pp425-426.

- Internet activity. Access the websites of either Boral Ltd (www.boral.com.au); Billabong (www.billabongcorporate.com); or Unilever (www.unilevelr.com). Prepare a report on one of these business’s global activities.

- Read and discuss Snapshot ‘The Monaro goes Pontiac!)’ pp4425-426.


SyllabusOutcomes



5. Interaction between global business and Australian domestic business

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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) p427.

- Outline the impact of free trade agreements on Australian businesses and consumers pp428-429.

- Interpret figure 19.15 p486.

- Discuss how deregulation of the financial markets has facilitated the flow of equity finance p429.

- Read and discuss Snapshot ‘Espresso Supremo’ pp430-431. Describe the strategies used to gain market share in the overseas markets.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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.


5.2 Global business strategy

SyllabusOutcomes



H2.2

H3.2

H3.3

H4.1

H5.2

H5.3

1. 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 p433.

- Distinguish between indirect, direct and intracorporate exporting p434 and figure 20.2.

- Read and discuss Snapshot ‘Pregnant with opportunity’ pp435-436.

- Contrast greenfield strategy, acquisition strategy and joint venture pp436-437. 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 p438.

- Distinguish between licensing and franchising pp438-439. Draw figure 20.4 p439.

- Read Starter Story about SOTA p416. Suggest which method of international expansion would best suit SOTA.

- Draw and discuss figure 20.5 p440.

- Prepare a point summary of the reasons for expansion pp440-444.

- Discuss the motives behind a business relocating to a country with less rigid regulations. Refer to any ethical issues that may arise p443.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Paperlinx or CSR websites. Investigate the businesses in terms of global strategies; geographic locations; and products marketed at each location.


5.3 Specific influences on global business

SyllabusOutcomes



H2.1

H2.2

H3.2

H4.1

H4.2

H5.1

H5.2

H5.3

1. Introduction

2. Financial influences

- currency fluctuations- interest rates- overseas borrowing

3. Political influences

- tension between protectionism and free trade- international organisations and treaties (WTO)- trade agreements- regionalism- war and civil unrest

- read and discuss Snapshot ‘Doing business in China’ pp445-446. Identify the specific influences on global business referred to.

- Draw figure 21.1 p447.

- Explain currency/exchange rate fluctuations pp447448.

- Outline the role of the forex market p447.

- Calculate exchange rates for a number of currencies using the example of the US$ p448.

- Outline difference between a depreciation and appreciation p448-449.

- Interpret cartoon figure 21.3 p448

- Examine the use of overseas borrowing. Refer to the possible risks of overseas borrowing due to currency fluctuations

- Define the term ‘protectionism’ p451.

- Brainstorm arguments for and against trade protectionism. Compare with figure 21.4 p451.

- List the main world international trade organisations and treaties p452.

- Distinguish between trade agreements and a trading bloc pp453-454.

- Examine figures 217; 21.8; and 21.9 pp453-454. Explain the meaning of APEC, NAFTA, EU and ASEAN.


SyllabusOutcomes



4. Legal influences

- contracts- dispute resolution- intellectual property

5. Social and cultural influences

- language- tastes- religion- varying business practices and ethics

- Briefly outline the purpose of a contract p456.

- Identify the methods a business could use to resolve contractual disputes p457.

- Provide examples of various trademarks p p458 and figure 21.11.

- Explain the term intellectual property. Discuss the importance of protecting creative ideas and products.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the World Trade Organisation website. Provide a brief description of the two main types of intellectual property rights.

- Outline the influence of the following:(a) Language pp458-459(b) Tastes p459(c) Religion pp459-460(d) Varying business practices and ethics pp460-461. 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’ pp460-461.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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.


5.4 Managing global business

SyllabusOutcomes



H1.1

H2.1

H2.2

H3.2

H4.2

H5.1

1. Financial

- methods of payment- credit risks- hedging- derivatives- insurance- obtaining finance

2. Marketing

- research of market- global branding- standardisation and differentiation

- Identify the ways in which Austrade can assist Australian exporting businesses, especially with their financial requirements pp463.

- 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 p464.

- 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 pp465-466.

- Define the term ‘hedging’ p467.

- Outline the natural hedging strategies a business could implement p467.

- Explain the role of derivatives p467.

- Compare and contrast forward exchange contract, options contract and swap contract p468.

- Examine the different methods of obtaining finance p469.

- Collect and display examples of global branding p471.

- Elaborate on the three main reasons why businesses use a global branding strategy pp471-472.

- Provide reasons why businesses such as McDonalds use a combination of a standardised and a differentiated marketing strategy p472.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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.


SyllabusOutcomes



3. Operations

- sourcing (vertical integration, make or buy)- global web (components produced in different countries

4. Employment relations

- organisational structure- staffing- shortage of skilled labour- labour law variations- minimum standards of labour- ethnocentric/polycentric/geocentric staffing

system

5. Evaluation

- strategies with reference to a particular global market

6. Modifications of strategies according to changes in global market

- Outline the two sourcing decisions facing a business pp473-474.

- Illustrate, using examples, how a business could use a global web to produce a product p474.

- Discuss how a business will reorganise its operations and management structure when selling globally p476.

- Discuss why a global business should be aware of the labour laws of a country in which it operates p477.

- Distinguish between ethnocentric, polycentric and geocentric approaches to staffing p479 and figure 22.10 p478.

- Discuss when it would be appropriate to use each approach.

- Justify the underlying purpose of evaluating specific business strategies pp479-480.

- Read and discuss Snapshot ‘Global evaluation strategies implemented by Opal Electronics Pty Ltd’ pp480-481.

- Identify how McDonalds has modified its global strategies in response to changes in its markets Snapshot ‘Even McDonald’s must modify its strategies’ pp.481-482.


5.5 Management responsibility in a global environment

SyllabusOutcomes



H4.1

H3.3

H5.1

H5.3

1. 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 p484.

- Explain the meaning of ‘triple bottom line’ p484.

- Read and discuss Snapshot ‘Billabong’s supplier policy and corporate social responsibility (CSR) p485.

- Brainstorm the benefits of developing a corporate social strategy p485.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access Billabong’s website. Research the business’s social responsibility agenda.

- Distinguish between tax haven, tax paradise, tax shelter and tax privilege pp486-487 and figure 23.2 p486.

- Describe, using an example, how transfer pricing can be used to minimise the tax obligations of a business pp486-487.

- 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 p488.

- Read and discuss Snapshot ‘Our business practices’ p489.

- Discuss the ethical issues involved in dumping illegal products p489.


SyllabusOutcomes



- Internet activity. Go to www.jaconline.com.au/businessstudies3e 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 p491.

- Topic revision: class quiz or test using Biz Words from pp418-488. HSC Practice questions pp521-523.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Reebok Human rights and Environment website. Outline the role of this foundation.

- Internet activity. Go to www.jaconline.com.au/businessstudies3e and access the Levi Strauss & Co website. Research Levi’s commitment to its social obligations with reference to global sourcing.



TOPIC 5: GLOBAL BUSINESS

AREA OF STUDY: 5.1 Globalisation 5.2 Global business strategy 5.3 Specific influences on global business5.4 Managing global business 5.5 Management responsibility in a global environment


Content examined:

Outcomes achieved:













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