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Author Topic: HSC Business Studies Question Thread  (Read 221067 times)  Share 

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~BK~

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Re: Business Studies Question Thread
« Reply #390 on: October 24, 2017, 03:45:53 pm »
0
Help needed... <yep, again>
could someone pls explain to me why the answer to the attached question is A??
i am really bad at financial questions  ???
tia.
BRING ON NOV 2nd ;D

fantasticbeasts3

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Re: Business Studies Question Thread
« Reply #391 on: October 24, 2017, 04:29:46 pm »
+1
Hey guys,
Are outsourcing and contracting the same thing? The textbook seems to give virtually identical definitions of them. I was wondering if there's any distinct features that separate the two.


hey! i think they're the same thing, although in the syllabus they're treated as separate dot points. when you google outsourcing, the first thing that comes up is "Outsourcing (also sometimes referred to as "contracting out")" so... really don't know ahahah sorry i couldn't be of any help

Help needed... <yep, again>
could someone pls explain to me why the answer to the attached question is A??
i am really bad at financial questions  ???
tia.

it's okay to ask for help :-) in steps of answering the question, the answer is A because:
1. when you do the net profit part of the question, it eliminates answers B and D.
2. the accounts receivable turnover ratio is given, but do 365÷(sales/accounts receivable). when you sub the values in, Business A ends up being 45.6 days, with Business B on 32 days - so the answer is A!

hope this helps!
HSC 2017: English (Standard) // Mathematics // Modern History // Legal Studies // Business Studies
2018-2022: B International Studies/B Media (PR & Advertising) @ UNSW

erhulloollie

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Re: Business Studies Question Thread
« Reply #392 on: October 24, 2017, 04:31:20 pm »
+2
Help needed... <yep, again>
could someone pls explain to me why the answer to the attached question is A??
i am really bad at financial questions  ???
tia.
Hi BK,
I probably won't be much help... but you just simply work out the ratios provided for each business (A and B)!
The Net profit ratio determines a business's profitability... the high the ratio the more profitable therefore business A
The Accounts receivable turnover ratio determines a business's efficiency, the higher the ratio the more efficient the business... therefore business B
so the answer is A as business a is more profitable but business b is more efficient...
does this make sense at all...??
it might be an idea to look up what each of the ratio determine....!!

~BK~

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Re: Business Studies Question Thread
« Reply #393 on: October 24, 2017, 04:34:00 pm »
+1
Hi BK,
I probably won't be much help... but you just simply work out the ratios provided for each business (A and B)!
The Net profit ratio determines a business's profitability... the high the ratio the more profitable therefore business A
The Accounts receivable turnover ratio determines a business's efficiency, the higher the ratio the more efficient the business... therefore business B
so the answer is A as business a is more profitable but business b is more efficient...
does this make sense at all...??
it might be an idea to look up what each of the ratio determine....!!

erhulloolli!!!
thanks heaps for your reply ;)
srsly need to work on these ratios!
it's okay to ask for help :-) in steps of answering the question, the answer is A because:
1. when you do the net profit part of the question, it eliminates answers B and D.
2. the accounts receivable turnover ratio is given, but do 365÷(sales/accounts receivable). when you sub the values in, Business A ends up being 45.6 days, with Business B on 32 days - so the answer is A!

hope this helps!

thanks, fantasticbeats
ATVB with the exam on thursday

Mod Edit: Merged posts. ;)
« Last Edit: October 24, 2017, 06:17:46 pm by MisterNeo »
BRING ON NOV 2nd ;D

erhulloollie

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Re: Business Studies Question Thread
« Reply #394 on: October 24, 2017, 04:41:51 pm »
+3
Hey... fantasticbeats3...!!
i noticed that you did the accounts receivable turnover rate in days.... is that the only ratio that we have to do in days..?? how do you write an answer to a financial ratios questions..??
thanks

fantasticbeasts3

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Re: Business Studies Question Thread
« Reply #395 on: October 24, 2017, 05:34:33 pm »
+2
Hey... fantasticbeats3...!!
i noticed that you did the accounts receivable turnover rate in days.... is that the only ratio that we have to do in days..?? how do you write an answer to a financial ratios questions..??
thanks


hey, erhulloollie! yep, that's the only ratio you have to do in days, because other ratios are written as a percentage or just a 'regular' ratio, i.e. 2:1. writing an answer to a financial ratio question is just like any other finance or maths question - write out your working :-)
HSC 2017: English (Standard) // Mathematics // Modern History // Legal Studies // Business Studies
2018-2022: B International Studies/B Media (PR & Advertising) @ UNSW

studyharddd

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Re: Business Studies Question Thread
« Reply #396 on: October 24, 2017, 09:11:50 pm »
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Yo

So within MC in past papers there is generally a couple questions asking what kind of legislation applies to situations. Just wondering what legislation/laws/acts we need to know cause I have nothing on it in my notes. E.g q1 and 5 in the 2016 paper.

~BK~

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Re: Business Studies Question Thread
« Reply #397 on: October 24, 2017, 09:22:39 pm »
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Yo

So within MC in past papers there is generally a couple questions asking what kind of legislation applies to situations. Just wondering what legislation/laws/acts we need to know cause I have nothing on it in my notes. E.g q1 and 5 in the 2016 paper.

so, with this i do legal studies and studied both consumers and workplace, hence i have some advantage..
however, i guess a big one to know is the competition and consumer act 2010, this covers a lot of aspects of business studies, the ACL website summarises the main parts of it by saying it predominantly covers:
  • product safety and labelling
    unfair market practices
    price monitoring
    industry codes
    industry regulation – airports, electricity, gas, telecommunications
    mergers and acquisitions.
workplace health and safety (WHS) is important for HR and others such as the age discrimination act, sex discrimination act, racial discrimination act are also good to know for HR and may come up in MC as they did last year
... that's just a few tips tho
« Last Edit: October 24, 2017, 09:26:25 pm by ~BK~ »
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ayylmaolad

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Re: Business Studies Question Thread
« Reply #398 on: October 24, 2017, 09:30:07 pm »
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Hey, is it okay to make up case studies for the final section of the paper?

fantasticbeasts3

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Re: Business Studies Question Thread
« Reply #399 on: October 24, 2017, 09:34:22 pm »
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Hey, is it okay to make up case studies for the final section of the paper?

hi! whether it's business, legal, whatever it is definitely okay to make up stuff - it's better than having nothing. :-)
HSC 2017: English (Standard) // Mathematics // Modern History // Legal Studies // Business Studies
2018-2022: B International Studies/B Media (PR & Advertising) @ UNSW

~BK~

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Re: Business Studies Question Thread
« Reply #400 on: October 24, 2017, 09:39:22 pm »
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hi! whether it's business, legal, whatever it is definitely okay to make up stuff - it's better than having nothing. :-)
to add to that, our teacher was just saying today that if you do have to make something up, its better to make up an entire case study than do a made-up stat/fact about a well-known business (qantas, ikea etc.)>> markers may know  ;)
EDIT:just noticed this was the 400th post!! go business studies!!
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Juliesokha

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Re: Business Studies Question Thread
« Reply #401 on: October 24, 2017, 09:49:35 pm »
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Helloo,
If they ask to implement marketing strategies in response to changes internal and external influences? How would you all talk about it?

Also, could you please give me some fake names? I couldn't think of at least 2  :'(
« Last Edit: October 24, 2017, 09:51:52 pm by Juliesokha »

Opengangs

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Re: Business Studies Question Thread
« Reply #402 on: October 24, 2017, 10:06:09 pm »
+1
Helloo,
If they ask to implement marketing strategies in response to changes internal and external influences? How would you all talk about it?

Also, could you please give me some fake names? I couldn't think of at least 2  :'(
Internal influences: business culture, management, resources, location, and product.
External influences: political, social, technological, economic, financial, geographic, legal, institutional, competition, markets.

Marketing strategies: market segmentation, product/service differentiation and positioning
products -- branding, packaging
price -- skimming, penetration, loss leader, price points
promotion -- advertising, personal selling, relationship marketing, sales promotions, publicity and public relations, opinion leaders, word of mouth
place -- distribution channels, channel choice, physical distribution issues
people, processes and physical evidence
e-marketing
global marketing -- global branding, standardisation, customisation, global pricing, competitive positioning

Juliesokha

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Re: Business Studies Question Thread
« Reply #403 on: October 24, 2017, 10:12:35 pm »
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Internal influences: business culture, management, resources, location, and product.
External influences: political, social, technological, economic, financial, geographic, legal, institutional, competition, markets.

where did you get those influences from?!

kiiaaa

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Re: Business Studies Question Thread
« Reply #404 on: October 24, 2017, 10:19:45 pm »
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hi guys

can someone please explain to me Polycentric/geocentric and ethnocentric approach under global strategies for HR, please?

thank you very much :)