VCE Business Management Question Thread!

[JaidynLuke]

The study design details that we need to know:
- the possible impact of change on the internal environment of LSOs, including the areas of operations and human resources.

My textbook has four impacts of change:
- impact on management structures
- impact on corporate culture
- impact on human resources management
- impact on operations

Does this mean we only need the latter two, and we don't require 'management structures' or 'corporate culture'?

(If a question were to come up, I could use my common sense to answer them right?)

[gamma032]

The study design details that we need to know:
- the possible impact of change on the internal environment of LSOs, including the areas of operations and human resources.

My textbook has four impacts of change:
- impact on management structures
- impact on corporate culture
- impact on human resources management
- impact on operations

Does this mean we only need the latter two, and we don't require 'management structures' or 'corporate culture'?

(If a question were to come up, I could use my common sense to answer them right?)

You can certainly go beyond just those two functions. In fact, VCAA gave us a list in Q5 2014. Here it is:
Factors from within the internal environment that may possibly be affected by change may come from the following
areas:

• operations management
• human resources
• management style
• corporate culture
• management structure
• management roles
• policy.

(page eight, 2014 Examination Report, VCAA)

[bellak1479]

Does anyone have a guess on what the 10 mark question this year is going to be?

[100.00]

Does anyone have a guess on what the 10 mark question this year is going to be?

Lol impossible to say.
Last year it was sources of change. This year they may decide to throw something different such as linking of 3 different areas of study like in 2014. Or they may simply throw a Kotter in there.

Considering its the last year of the study design, I feel like they will be a little creative.

[noahbald]

Considering its the last year of the study design, I feel like they will be a little creative.

That's what they said about English, which was pretty average 

[bellak1479]

Thanks guys, just though id try and get some sort of grasp to make me less nervous.

i do agree with them doing something out of the ordinary considering its the last year of the study design.

Thanks for the answers

[geminii]

Hey everyone,

I'm doing 3/4 business in Year 12 next year but our school has a transition program meaning we start our 3/4 subjects at the end of the year, hence I am doing 3/4 business currently.

Something I am struggling to understand is the impact of limited liability on shareholders. So far, I have heard two possibilities:
1. It is a benefit for the shareholders, because limited liability means that the shareholders cannot be held accountable for the debts of the business.
2. It is a disadvantage for the shareholders, because limited liability means that rather than the owners of the business having to pay for their debts, the shareholders lose the value in their shares which are used to pay for the debts of the business; essentially, the shareholders pay to cover the debts of the business (rather than the owners) through the loss or lower value of their shares.

Could someone please clarify how limited liability actually affects shareholders?

Many thanks!

[geminii]

Hey everyone,

I'm doing 3/4 business in Year 12 next year but our school has a transition program meaning we start our 3/4 subjects at the end of the year, hence I am doing 3/4 business currently.

Something I am struggling to understand is the impact of limited liability on shareholders. So far, I have heard two possibilities:
1. It is a benefit for the shareholders, because limited liability means that the shareholders cannot be held accountable for the debts of the business.
2. It is a disadvantage for the shareholders, because limited liability means that rather than the owners of the business having to pay for their debts, the shareholders lose the value in their shares which are used to pay for the debts of the business; essentially, the shareholders pay to cover the debts of the business (rather than the owners) through the loss or lower value of their shares.

Could someone please clarify how limited liability actually affects shareholders?

Many thanks!

Bump!

[manutd]

where can i find business management practice sacs for the new study design

[NAT0003]

Is business management 1/2 mainly about memorising?

[Stairs]

Is business management 1/2 mainly about memorising?

That plays a component but I would say structuring the answer is just as important. You can't just regurgitate the textbook and expect to do well.

[dribeiro]

Hi, for Maslow's theory is belonginess and love an extrinsic or intrinsic need?

Hey,
I would say feeling a sense of belonging falls under the 'social' element of Maslow's Hierarchy of Needs, therefore making this an extrinsic factor (as the first 3 levels of his hierarchy are extrinsic, and the upper 2 are intrinsic). Love could go both ways I guess - it could boost your esteem (therefore making it an intrinsic need in Maslow's hierarchy) and/or it could satisfy your social needs (therefore making it an extrinsic need). However, I would be steering more towards love being an extrinsic (social) need.

[DodoBird]

Distinguish between a Social Enterprise and a Government Business Enterprise. 3 marks

Mod Edit [Aaron]: Merged with primary question thread.

[kbanks]

Distinguish between a Social Enterprise and a Government Business Enterprise. 3 marks

Hey!
The most important thing to remember when you're answering a question like this is that you need to start with definitions of both of the terms. This will provide you a mark or two as well, so then you don't need to talk about as many differences!
A question that is asking you to 'distinguish' between two terms is asking you to solely concentrate on the differences, no need to discuss the similarities between the two.
Some key differences between a government business enterprise and a social enterprise are:
- A social enterprise exists to provide a service to the community that is normally of a charitable nature, whereas a government business enterprise exists to provide a governmental service to the community (e.g. the Red Cross compared to VCAA).
- The money that is earned by a social enterprise will always go back INTO that social enterprise (profit does not go to the owners) whereas in a government business enterprise, the money earned will go back into the government, and therefore not necessarily straight back into that particular GBE.

Hope this helps! Let me know if you have any further questions - and, remember, definitions are important

[Mariamnourine]

Hey Karly,
I haven't been doing well in my SAC"S lately and am really deflated. Not because I fi d it hard but because I stress and get overwhellmed. Is ther any chance for redemption in unit for and exams for a SS of 41?