2020 Prelim Business marking.pdf

NSW INDEPENDENT TRIAL EXAMS — 2020 BUSINESS STUDIES YEAR 11 EXAMINATION MARKING GUIDELINES Section I 1 2 3 4 5 6 7 8 9 10 11 1213 14 15 16 17 18 19 20 CDBDBD...

NSW INDEPENDENT TRIAL EXAMS — 2020 BUSINESS STUDIES YEAR 11 EXAMINATION MARKING GUIDELINES Section I 1 2 3 4 5 6 7 8 9 10 11 1213 14 15 16 17 18 19 20 CDBDBD CAB A A ABBD A CDD C Section II Question 21(a Criteria Marks Recognises and names TWO characteristics of small to medium enterprises 2 Recognises and names ONE characteristic of small to medium enterprises 1 Answers may include: Personalised service Local markets Independently operated Independently owned Closely controlled by owner Bulk of capital provided by owner Owner responsible for decision-making Locally based Question 21(b Criteria Marks Provides characteristics and features of TWO economic contributions of small to 4 medium business Provides characteristics and features of ONE economic contribution of small to medium 3 business and identifies another contribution Provides characteristics AND features of ONE economic contribution of small to 2 medium business OR identifies TWO contributions Identifies ONE economic contribution of small to medium business 1 Answers may include: Contribution to local economies Growth and innovation to the community Economic growth by providing employment opportunities Larger business depends on smaller business for the completion of various business functions through outsourcing Contribution to the balance of payments Contribution of taxes to the government Smaller businesses can turn into bigger businesses if successful, further adding to economic growth Contribution to Australia's Gross Domestic Profit NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 1  uestion 21(c „ Criteria Marks Relates cause and effect; makes the relationships between things evident; provides how 4 TWO factors contribute to the failure of SME's in Australia Relates cause and effect; makes the relationships between things evident; provides how ONE factor contributes to the failure of SME's in Australia AND identifies another 3 factor Relates cause and effect; makes the relationships between things evident; provides how 2 ONE factor contributes to the failure of SME's in Australia OR identifies TWO factors Identifies ONE factor that contributes to the failure of SME's in Australia 1 Answers may include: Failure to plan Lack of information Leadership crisis Inaccurate record keeping Failure to delegate Complacency Incorrect marketing strategy Poor location Lack of financial planning Negative cash flow New competitors Illness Supplier problems Poor use of external support services Economic downturn New taxes Change in goverment policy Insufficient capital Partnership problems Lack of management experience Incorrect pricing policy Failure to seek advice Not enough sales Staff difficulties Being under-insured NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 2 Question 22(a Criteria Marks Sketches in general terms the purpose of the business plan 2 Identifies a key characteristic of a business plan 1 Answers may include: To establish business goals To better understand your competition To better understand your customers To determine your financial needs and goals To reduce risk To research your market To position your brand To document your marketing plan Question 22(b Criteria Marks Recognises and names ONE opportunity AND ONE threat in the SWOT analysis 2 Recognises and names ONE opportunity OR ONE threat in the SWOT 1 Answers may include: Opportunities: The only business in the local area, potential for online presence, holiday periods increase the population, hotels and homes being built meaning potential customers Threats: Online competitors, environmental factors (bushfires, Covid) uestion 22(c Criteria Marks Sketches in general terms how ONE agency can provide assistance to the owners of 2 Living Interiors to become more competitive Recognises and names how ONE agency can provide assistance to the owners of 1 Living Interiors Answers may include: NSW Trade and Investment — SmallBizConnect Business Enterprise Centres Australia (BECA) Local Government Chamber of Commerce Small Business Association of Australia and New Zealand Trade associations Question 22(d Criteria Marks Provides reasons in favour of TWO marketing strategies that Living Interiors could use 4 to increase market share and improve overall business performance Provides reasons in favour of ONE marketing strategy that Living Interiors could use to increase market share and improve overall business performance AND identifies 3 another strategy Provides reasons in favour of ONE marketing strategy that Living Interiors could use to increase market share and improve overall business performance OR identifies 2 TWO marketing strategies Identifies ONE marketing strategy that Living Interiors could use 1 Answers may include: Product strategies: quality; design; warranty and guarantee; labelling; exclusive features; packaging; logo Price: cost-based; market based; competition-based Promotion: personal selling; sales promotion; publicity and public relations; advertising Place: distribution channel — producer to customer; producer to retailer to customer; producer to wholesaler to retailer to customer Channel choice: intensive; selective; exclusive distribution NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 3 Question 23(a Criteria Marks Provides characteristics and features of TWO possible outcomes in the post maturity 4 stage of the business life cycle Provides characteristics and features of ONE possible outcome in the post maturity 3 stage of the business life cycle AND identifies another possible outcome Provides characteristics and features of ONE possible outcome in the post maturity 2 stage of the business life cycle OR identifies TWO possible outcomes Identifies ONE possible outcome in the post maturity stage of the business life cycle 1 Answers may include: Renewal Steady state Decline Question 23(b Criteria Marks Identifies issues and provide points on the differences between voluntary administration 5-6 and voluntary liquidation for a business facing financial difficulties Provides points on the differences between voluntary administration AND voluntary 4 liquidation for a business facing financial difficulties Sketches in general terms the differences between voluntary administration and voluntary liquidation for a business facing financial difficulties OR provides points on 3 a business entering into either voluntary administration OR voluntary liquidation Makes general statements about entering into voluntary administration AND/OR 2 voluntary liquidation Identifies a characteristic of voluntary administration OR voluntary liquidation 1 Answers may include: A company has two options when facing financial difficulties: Voluntary administration occurs when an independent administrator is appointed to operate the business in the hope of trading out of the present financial problems. The administrator's main tasks are to bring the business and its creditors together and examine the financial affairs of the business. Appointing a voluntary administrator is becoming an increasingly attractive alternative, especially to small business owners. If successful, the business may resume normal trading. If unsuccessful, the business goes into liquidation. Voluntary liquidation is the process of an appointed liquidator converting the business's assets into cash. Liquidation, commonly referred to as winding up a company, occurs when an independent and suitably qualified person — the liquidator — is appointed to take control of the business with the intention of selling all the company's assets in an orderly and fair way in order to pay the creditors. Once the creditors have been paid, any surplus cash is paid to the owners of the company. NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 4 Question 24(a) Criteria Marks Identifies two reasonable and logical goals, given the change in management approach 2 and current status of being in decline Identifies one reasonable goal or two goal that are not specific to the company's 1 situation Answers may include: Increase staff moral and motivation through participation in decision making. Recover productivity through incentives and team building. Question 24(b Criteria Marks Identifies issues and provide points on TWO ways management can motivate 4 employees to increase their rate of productivity Identifies issues and provide points on ONE way management can motivate employees to increase their rate of productivity AND identifies another way management can 3 motivate employees Identifies issues and provide points on ONE way management can motivate employees to increase their rate of productivity OR identifies TWO ways management can 2 motivate employees Identifies ONE way management can motivate employees to increase their rate of 1 productivity Answers may include: Communicate with staff regularly Lead by example Encourage suggestions Implement conflict resolution strategies to support staff Delegate responsibility Take an interest in development of employees Provide a safe and healthy work environment Establish joint objectives through negotiation Establish clear expectations Reward staff Involve staff in decision-making Question 24(c Criteria Marks Relates cause and effect of how the organisational structure would change when 4 moving from a classical management approach to a behavioural management approach Provides characteristics and features of the changes in the organisational structure when moving from a classical management approach to a behavioural management 3 approach Sketches in general terms the changes when moving from a classical management 2 approach to a behavioural management approach Makes a general statement about classical OR behavioural management approach 1 Answers may include: Classical approach — autocratic or authoritarian leadership style, hierarchical organisational structure with long chain of command and narrow span of control Behavioural approach — participative or democratic leadership style, flatter organisational structure with shorter chain of command and wider span of control NSW Independent Trial Exams 2020 — Business Studies Year 11 Examination: Marking Criteria - Page 5 Section III Question 25 Criteria Marks Demonstrates comprehensive knowledge and understanding of external influences on a business Identifies issues and provides points for how a business can manage change effectively in order to remain competitive Relates cause and effect; makes the relationships between things evident; provides how 17-20 quality management strategies and training and development of employees can benefit this business Presents a sustained, logical and cohesive business report integrating relevant business terminology and concepts Demonstrates thorough knowledge and understanding of external influences on a business Provides points for how a business can manage change effectively in order to remain competitive Provides points for how quality management strategies and training and development 13-16 of employees can benefit this business Makes some use of the information provided, demonstrating sound knowledge and understanding relevant to the question Presents a logical and cohesive business report using relevant business terminology and concepts Demonstrates sound knowledge and understanding of external influences on a business Provides characteristics and features of managing change effectively to remain competitive Provides characteristics and features of quality management strategies and training and development of employees that can benefit this business 9-12 May make use of the information provided, demonstrating some knowledge and understanding relevant to the question Includes features of a business report and uses some business terminology and concepts Demonstrates basic understanding of external influences on a business Sketches in general terms how the business can manage change effectively 5-8 Sketches in general terms quality management or training and development May include some features of a business report and uses basic business terminology Refers to external influence(s) and/or managing change and/or quality management or training 1-4 Uses basic business terminology Question 25 continues on the next page NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 6 Question 25 continued Answers may include: External influence influences: Economic Social Legal Markets Financial Competitive situation Political Institutional Geographic How the business can manage change effectively for this business in order to remain competitive: Identifying the need for change Setting achievable goals Using change agents/management consultants Implementing change models that reduce resistance to change: force field analysis; unfreeze/change/refreeze Strategies to reduce resistance to change: build trust among employees; make sure the changes are reasonable; specify the nature of the change; allow employees to participate in the change process; discuss any upcoming change — this reduces fear of the unknown; support change with new learning; clearly articulate the purpose of the change; follow a sensible time frame — change should not be rushed; outline the positive and negative aspects of the change; make sure communication is two way, not just from the top down; provide constant feedback Quality management and training: Benefits of quality management: Reduces waste and defects Strengthens competitive position Improves reputation and customer satisfaction Reduces costs Increases productivity and profits Benefits of training and development: Improved job satisfaction through better job performance Greater ability for employees to adapt to and cope with changes Higher productivity through better job performance and more efficient use of human resources Goals and objectives more effectively met A more capable workforce Staff are easily trained in new ways of production Reduces costs due to less labour turnover, errors, accidents, absenteeism Improves employee job satisfaction through better job performance NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 7  NSW INDEPENDENT TRIAL EXAMS - 2020 BUSINESS STUDIES YEAR 11 EXAMINATION MAPPING GRID Qu Mark Content Outcomes Band 1 1 Nature of business — classification by industry sector P8 2-3 2 1 Nature of business — influences in the business environment P2, P8 2-3 3 1 Business management — management process P4 2-3 4 1 Nature of business — types of business P1 2-3 5 1 Business management — marketing mix P5 2-3 6 1 Nature of business — influences on the business environment P6 3-4 7 1 Business management — management process P5, P8 3-4 8 1 Business planning — influences in establishing small to medium P4, P8 3-4 enterprises 9 1 Business management — management process P5, P8 3-4 10 1 Business management — business goals P8 3-4 11 1 Business management — human resources P2, P5 3-4 12 1 Business planning — goals and objectives Pl, P8 4-5 13 1 Business management — management process P8, P10 4-5 14 1 Business planning — influences in establishing a small to medium P8, P10 4-5 enterprise 15 1 Business planning — influences in establishing a small to medium Pl, P4 4-5 enterprise 16 1 Business planning — influences in establishing a small to medium Pl, P6 4-5 enterprise 17 1 Nature of business — business growth and decline P1, P8 5-6 18 1 Business planning — the business planning process P8, P10 5-6 19 1 Business planning — critical issues in business success and failure P8 5-6 20 1 Nature of business — influences in the business environment P1 5-6 21(a) 2 Business planning — small to medium enterprises P2 2-3 21(b) 4 Business planning — small to medium enterprises Pl, P6 3-4 21(c) 4 Business planning — small to medium enterprises P3 3-4 22(a) 2 Business planning — the business planning process Pl, P4 3-4 22(b) 2 Business planning — the business planning process P8, P9 4-6 22(c) 2 Business planning — the business planning process P3, P4 22(d) 4 Business management — management process P5, P8 23(a) 4 Nature of business — business growth and decline P8 2-3 23(b) 6 Nature of business — business growth and decline P2, P8 3-4 24(a) 2 Business management — management approaches P5 2-3 24(b) 4 Business management — management approaches P5, P6 3-4 24(c) 4 Business management — management approaches P5, P8 4-5 25 20 Nature of business — influences of in the business environment P2, P4, P5, 3-6 Business management — management and change P6, P8, P9 Business management — management process; operations; human resources NSW Independent Trial Exams 2020— Business Studies Year 11 Examination: Marking Criteria - Page 8