Business Studies Half Yearly Revision Marathon 2012 (2 Viewers)

[Androgynous]

Now that I have your attention I would like to welcome you Business Studiers of 2012. Now, half yearlies are coming up soon so that calls for hard study, though most of you have other HSC subjects as well. Anyway, the aim of this thread is for every BoSer doing Business Studies to commute, catch up on things, ask questions and generally everything to do with Business Studies. If you would like to contribute post your own question and if you know they answer, answer it.

Warning - As most Business Studiers have done Marketing and Operations for their first 2 topics, we will be revising over them. Please do not ask questions on Finance or Human Resources.




Practice Multiple choice of the several days:

1. Which of these are a list of performance objectives?
(a) Quality, speed, dependability and cost
(b) Quality, flexibility, customisation and profit
(c) Speed, Cost, flexibility and choice
(d) Dependability, customisation, profit and choice

2. Which of these are the 4Vs?
(a) Volume, Velocity, Variation in demand and Vacancy
(b) Vacancy, Validity, Volume and Visibility
(c) Visibility, Variation in demand, Volume and Variety
(d) Variety, Volume, Variation in demand and Validity

3. Which of these are not a transformed resource?
(a) Materials
(b) Facilities
(c) Information
(d) Customers

4. I reduce the price of my penguin slaves below cost price in order to attract customers. Which pricing strategy am I employing?
(a) Loss Leader
(b) Price Skimming
(c) Price Penetration
(d) Price Points

5. Which of these is an example of promotion as a marketing strategy for a penguin slave trafficking company?
(a) Creating a brand name
(b) Advertising it through a massive billboard
(c) Employ product positioning to create a better image than the ones created by competitors
(d) Packaging the penguin in a large box with gift wrapping




Short Answer Questions:

Question 1
(a) Define the term "Marketing'". 2 marks
(b) Explain why marketing needs to be an evolutionary process. 4 marks
(c) "The marketing concept should be integrated into all key business functions" Evaluate the accuracy of this statement.

Question 2
(a) Describe what is meant by total quality management. 2 marks
(b) Demonstrate the main differences between quality control and quality assurance. 6 marks
(c) Analyse how quality management can make a business more competitive. 10 marks


Short Answer questions provided by the forum

Distinguish the difference between inputs, transformation processes and outputs. (6 marks) - Examine

Community answers -

Inputs, transformation processes and outputs are the three aspects which make up the operations process. Inputs are the resources used in the transformation process to make a product, common inputs being labour, energy, raw material and machinery. The transformation process are the value adding processes which change the input into outputs. Outputs refer to the finished goods or service produced through the business' efforts, which is then provided to customers.

Tips of the week
(If you would like to be in this section just PM me your tip of the week)

 

[powlmao]

Top thread. I'll add to it tomorrow as I am on my iPhone

 

[Examine]

Yes it's a really good thread. If everybody contributed to it it'd be gr9.

 

[Examine]

My answers to the MC questions.

Spoiler

1 - a, 2 - c, 3 - b, 4 - a, 5 -b.

Here's a short answer question

Distinguish the difference between inputs, transformation processes and outputs. (6 marks)

 

[Androgynous]

Inputs, transformation processes and outputs are the three aspects which make up the operations process. Inputs are the resources used in the transformation process to make a product, common inputs being labour, energy, raw material and machinery. The transformation process are the value adding processes which change the input into outputs. Outputs refer to the finished goods or service produced through the business' efforts, which is then provided to customers.

 

[Androgynous]

Come on guys contribute!

 

[powlmao]

Okay.


6 marker

Extrapolate the differences in key marketing strategies directed at segmented markets

 

[Examine]

Okay.


6 marker

Extrapolate the differences in key marketing strategies directed at segmented markets

When will they ever ask someone to "extrapolate" cmon mang.

 

[powlmao]

Fine then

Critically evaluate it.

You never know, if they did it would throw many people off

 

[Examine]

And on this day another Business Studies marathon failed.

 

[findx]

And on this day another Business Studies marathon failed.

where are all the business studies bos members?



I'll add some when i finish my exam next week

 

[Examine]

where are all the business studies bos members?



I'll add some when i finish my exam next week

It's sad too, looks like OP actually spent time making this thread.

 

[powlmao]

I wish I could add more but my laptop is dead and I have to use my phone.

Does anyone have their exam paper ( to those to have done the exam)

 

[vermanerds]

I just did my half yearly on Friday the 9th. It was on operations and finance. When I get it back I am happy to share it with people!

 

[smash17]

is anybody else using the text book business studies in action?? i have an exam this friday!!!!!! on operations and marketing im freaking out only started studying now....dont even know where to start! this forum is amazing people contribute, i will when my notes are all typed which will hopefully be tonight!!!

 

[Timske]

I;m using that text book too and the same topics as you lol

 

[Arikasa]

me too cuz

 

[alex122]

me too! and we have an exam next week on the first big chapter "Nature of Business" so much too know, anyone know any ideas for me to remember it all?

 

[powlmao]

Anyone want a revision sheet pm me

 

[bardot]

Hey Could someone please help me with LIFO and FIFO? I don't fully understand it. Like the price the inventory assuming that the last goods purchased are the first goods sold... I don't get it lol why would they do that?