VCE Business Management Question Thread!

[kbanks]

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?

Hey
There are a couple of things in that that I'll talk about - firstly though, I want to just give some general advice on the idea of being stressed and overwhelmed in the lead up to SACs.
Absolutely everyone gets that way, and having some level of nerves prior to a SAC is actually quite useful, because it makes the body and the brain function at a higher level (brings everything into focus, almost).
If those levels of nerves and stress are getting in the way of you performing well, though, it becomes more of an issue.
I've been sitting exams for years, both in high school and in Uni, and I still get that way sometimes! But the most important thing is to be able to overcome it when it actually comes to sitting the SAC.
I've found some things that have worked well in the past are things like:
- Don't study on the day of the SAC. Use the time beforehand to go for a walk around the school, or just sit outside and breathe in the fresh air - not cramming with your head in a book up until the very last second, because then your stress is likely to follow you into the room when you're doing your SAC.
- Keep everything in perspective! Every SAC is only ONE part of ONE subject of ONE year of your life. Yes, it seems as though your score in VCE is the be all and end all of your future career and prospects, but I can absolutely guarantee you it's not. Yes, you need a certain score to get into certain degrees, but even then, there are pathways to get you where you want to go. I can PROMISE you, not a SINGLE person has asked me my VCE score since I graduated.
- Practice some deep breathing exercises during the SAC if you find yourself getting overwhelmed. In for 4 counts, hold for 4 counts, out for 4 counts. This will slow your heart rate and clear your mind (your brain needs huge amounts of oxygen to function, so breathing deeply into your stomach can help to focus you).
- If you find a certain question in your SAC that you're stumped over, and you find yourself getting worked up about it, the best thing that you can do is to leave it and come back to it. The most detrimental thing is to focus on one question that you can't answer for 20 minutes of a SAC, which potentially takes up time that you could be using to answer questions that you CAN answer. In every SAC or exam, there's usually going to be that one question that you can't seem to wrap your head around - it happens to everyone! Just move past it, and come back to it at the end if you have time.

SECONDLY! In relation to SAC marks and getting a study score over 40, it's ABSOLUTELY still possible. This is for two reasons - firstly, we're only in Term 2! If you can implement some relaxation techniques and keep your study up the way I'm assuming you already do (because you're focused enough on your studies to be freaking out and posting here!) you should be able to bring your marks up for the rest of the year. And you have 3 more terms to do that! So much time.
Also, the most important part of the year is the exam. This is because your exam mark is used to moderate your SAC marks (either brings them up or down depending on your exam mark), so if you focus on knocking that out of the park, a SS of 40 and over is totally attainable. (For more information on the nitty-gritty of the way that moderation works, there's a board in the forums that you can check out if you want to).

I hope this helps. Remember to breathe!
Karly

[bronteokeefe]

Hi everyone,

Just wondering if anyone could tell me the benefits of MPS and MRP??

[Mariamnourine]

Hi everyone,

Just wondering if anyone could tell me the benefits of MPS and MRP??

Hello and welcome to the forum!!!
Of course, it's quite self-explanatory:

MPS Benefits:
- assists in determining accurate ordering quantities and timings. Which helps prevent wastage in costs and time
-Works best for standardized products

MRP benefits:
-Reduces waste and storage space
-Resources are available in sufficient quantities, on time

If these were a bit too brief for you, try watching this video: https://www.youtube.com/watch?v=J9fNmDbe-os ( it goes through the entire dot point for materials management)

[dannyphoenix]

Hi, if a teacher says to put in definitions but it says nothing about definitions on the criteria sheet is my teacher allowed to mark me down?

[kbanks]

Hi, if a teacher says to put in definitions but it says nothing about definitions on the criteria sheet is my teacher allowed to mark me down?

Hi,

First and foremost I would always attempt to follow a teacher's instructions or advice when completing a piece of assessment, because they will be the ones marking it. Therefore, if your teacher says to put in definitions, definitely try!

As to whether or not they can mark you down, the criteria sheet gives a teacher an indication of where the marks should be allocated but is not the be all and end all, therefore if that is what they have asked you to do, they can use their discretion to deduct or add marks where they see fit.

Also, defining terms is huge in the Business exam, so the more practice you can get doing that, the better!

Karly.

[Ashjames]

Okay- so I'm freaking out because I haven't started revising for unit 3 and I also haven't finalized my notes!!! Someone tell me how I'm supposed to start studying? Also, have any of you started started revising for exams? 

[Joseph41]

Okay- so I'm freaking out because I haven't started revising for unit 3 and I also haven't finalized my notes!!! Someone tell me how I'm supposed to start studying? Also, have any of you started started revising for exams? 

No need to freak out.

I reckon you just go by the study design. Go through it, highlight the dot points you're least comfortable with, and write some summaries for those points.

[Ashjames]

Hello!!

I was just wondering what an example of business that had to undergo change recently would be? For some reason my school never used examples and we are already up to unit 4 area of study 2.

[kbanks]

Hello!!

I was just wondering what an example of business that had to undergo change recently would be? For some reason my school never used examples and we are already up to unit 4 area of study 2.

Hi

There are a couple of things I would suggest if your school hasn't discussed an example of a business that has recently undergone a change - the first step would be to ask your teacher! Check if they are perhaps waiting until you get through all the theory, and then discussing a change example to complement it?
Otherwise, your textbook should have some current examples - or the failsafe option, Google!! If a major business has recently undergone a change, there will be newspaper articles about it, as well as information on the company website, which you would be able to use to link to some of the theory in your course.

But my first step would be to discuss it with your teacher - they're around to help, and perhaps they have a different plan in mind for introducing it

Karly

[Ashjames]

hey BM students

Today my teacher gave me a practice trail exam and onw of the 10 marks questions requires us to apply to 5 steps of senges learning organization to a business we have studied. I really don't know how to apply this and I have searched everywhere but I found no articles that would assist me in doing this!!!!

Any suggestions?

[Ashjames]

hey everyone,

I was just wondering, for termination management do we need to know transition issues and entitlements for every type of termination methods, or do we just need to know them briefly for all types of termination.

[kbanks]

hey everyone,

I was just wondering, for termination management do we need to know transition issues and entitlements for every type of termination methods, or do we just need to know them briefly for all types of termination.

Hey

I would always suggest knowing as much detail as possible, so I would suggest knowing entitlements and transitions issues specifically related to different types of termination! It's hard to pinpoint ones that would be relevant for every type of termination, and if you can show the examiner that you know specific ones (e.g. letters of reference for resignation, compared to superannuation advice for retirement) it will add another layer of sophistication to your answers.

Karly.

[Ashjames]

hey Guys,


I was a bit confused on the awards and agreements as methods of determining wages. Can someone briefly explain this to me?? Like what are awards and agreements?

[Jigsaw]

hey Guys,


I was a bit confused on the awards and agreements as methods of determining wages. Can someone briefly explain this to me?? Like what are awards and agreements?

Hey there. Under the business management study design, the two ways to determine an employee's pay and working conditions are Awards and Enterprise/Collective Agreements (as you already know 

Awards are the legally binding, minimum requirements for wages and working conditions, and are applicable to all employees in a trade, occupation or industry. Under the Workplace Relations Amendment Act 2008, the system of awards were modernised, meaning that the awards were reviewed, reduced and rationalised, to create awards pertaining to industries/occupations. There are 122 in total, and are known as modern awards. (They have the same function as awards!) They contain the 10 NES, and act as safety net for employmenet condtions, as no employment agreement can be lower than the standards set in the awards. They are generally reviewed every 4 years by the Fair Work Commission.

Collective/Enterprise Agreements are employment agreements that have been negotiated under a system of 'good faith' collective bargaining, between employers and employees, and their representatives (trade unions, employer associations), and apply to individuals at the enterprise level. What this means, is that if an employee works for a business that has negotiated an enterprise agreement, the award no longer applies to that business, and their conditions are based of the enterprise agreement. An employer will undergo collective bargaining with trade unions to determine specific employment conditions for employees of the business. Collective agreements also must be in line with the 10 NES, but they also have a nominal expiry date, clauses for individual flexibility, terms for consulting employees about major change, and dispute resolution policies. 

Hence, the clear differences is that awards only apply to workers in an industry, trade or occupation that do not have an enterprise agreement. If a business has negotiated an enterprise agreement, the award no longer applies. Whilst awards are determined by the FWC, enterprise agreements are determined through a system of collective bargaining.

Hope this helped; feel free to clarify if I didn't make sense anywhere

[Ashjames]

Hey there. Under the business management study design, the two ways to determine an employee's pay and working conditions are Awards and Enterprise/Collective Agreements (as you already know 

Awards are the legally binding, minimum requirements for wages and working conditions, and are applicable to all employees in a trade, occupation or industry. Under the Workplace Relations Amendment Act 2008, the system of awards were modernised, meaning that the awards were reviewed, reduced and rationalised, to create awards pertaining to industries/occupations. There are 122 in total, and are known as modern awards. (They have the same function as awards!) They contain the 10 NES, and act as safety net for employmenet condtions, as no employment agreement can be lower than the standards set in the awards. They are generally reviewed every 4 years by the Fair Work Commission.

Collective/Enterprise Agreements are employment agreements that have been negotiated under a system of 'good faith' collective bargaining, between employers and employees, and their representatives (trade unions, employer associations), and apply to individuals at the enterprise level. What this means, is that if an employee works for a business that has negotiated an enterprise agreement, the award no longer applies to that business, and their conditions are based of the enterprise agreement. An employer will undergo collective bargaining with trade unions to determine specific employment conditions for employees of the business. Collective agreements also must be in line with the 10 NES, but they also have a nominal expiry date, clauses for individual flexibility, terms for consulting employees about major change, and dispute resolution policies. 

Hence, the clear differences is that awards only apply to workers in an industry, trade or occupation that do not have an enterprise agreement. If a business has negotiated an enterprise agreement, the award no longer applies. Whilst awards are determined by the FWC, enterprise agreements are determined through a system of collective bargaining.

Hope this helped; feel free to clarify if I didn't make sense anywhere

I get agreements, but I still don't get awards, like is the NES a type of award?  Also, do we need to know both collective and enterprise agreements, if so what is the difference?