SAMPLE TEACHING PROGRAM - Jacaranda€¦ · Web viewadapt business case studies and other...

SAMPLE TEACHING PROGRAMfor the Preliminary Business Studies Course in NSW

Using page references and examples from

Business Studies in Action:Preliminary Course 2e

S. Chapman, N. Devenish, M. Dhall

Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 1

Prepared by S. Chapman

Topic 1: NATURE OF BUSINESS Timing: 25% of indicative time

Focus: The focus of this topic is to examine the role and nature of business in the economy and to identify how the environment can impact on business.

Syllabus outcomesThe student:

P1.1 describes the nature of business and its role in society

P1.2 analyses types of business structure

P3.1 explains the business life cycle and indicates the challenges that each stage presents to management

P3.2 explains the responsibilities of business to internal and external stakeholders

P4.1 explains the interrelationship between the internal and external factors on business

P5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms

P5.5 works independently and in groups to achieve appropriate goals in set timeframes.

Syllabus contentStudents learn to:

use existing business case studies to investigate and communicate ideas and issues related to the nature of business. The focus of these case studies will be to:

identify a range of internal and external stakeholders determine the value, and benefit, added identify types of business entity, including small-medium

enterprises (SMEs) identify position in the business life cycle identify the main elements of the business environment of a

business analyse the ethical and social responsibilities of specific

businesses.


Resources: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish and Dhall – John Wiley (Jacaranda)

1.1 The importance of business

SyllabusOutcomes

Syllabus ContentStudents learn about:

Teaching/Learning Activities

P1.1

P3.2

P4.1

P5.3

P5.5

1. Introduction: The importance of business to the individual and the economy

2. The function of business in creating value/benefits and adding value to all the business processes (value chain)

3. Social and economic roles

- Read introductory story ‘Welcome to the world of business!’ p3.

- Examine cartoon figure 1.1 p4. Discuss the common features shared by all small business owners.

- Construct a mind map summarising the four key aspects of how Business Studies helps an individual perform the roles of consumer, employee, business owner and investor p5.

- Examine and discuss figure 1.3 p6. Individual students to select five functions and briefly outline why each one is regarded as important to the Australian economy.

- Prepare a clippings file of magazine and newspaper articles dealing with various aspects of business and its importance to the Australian economy. Select five articles and paste them onto a sheet of paper. Underneath each article prepare a twelve to fifteen line summary.

- Using the example of a loaf of bread outline the concept of value adding pp7-8.

- Examine figure 1.7 p8 and discuss how value added from production can be calculated.

- Calculate the value of production (value added) from specific examples p8.

- Brainstorm how businesses create wealth within the economy.Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 3

- wealth creation- Compare the brainstorm list with figure 1.8 p10.

1.1 The importance of business (continued)

SyllabusOutcomes



3. Social and economic roles (continued)

- employment

- innovation

- quality of life

- choice

- entrepreneurship

- Internet activity. Research and record employment data for the small business sector by going to www.jaconline.com.au/businessstudies and clicking on:(a) the Australian Bureau of Statistics (ABS) (b) Smallbiz NSW.

- Outline the relationship between innovation and research and development pp11-12.

- Read and complete questions for Snapshot ‘Airport Maintenance Services Pty Ltd’ pp12-13. Outline the importance of innovation to the Australian economy.

- Examine figure 1.11 p14. Discuss ways in which businesses can add to society’s quality of life.

- Outline the meaning of ‘freedom of choice’ p14.

- Discuss how businesses encourage freedom of choice p14.

- Brainstorm the role of an entrepreneur p15. Read the vignettes (p15) of:o Anita Roddicko Herbert Jameso Gordon Edgello Elcon Myer.

- Read and complete questions for Snapshot ‘Jesse Hancock – entrepreneur’ p16.


Identify the entrepreneurial characteristics exhibited by Jesse Hancock.

- Students to assess their own entrepreneurial abilities by completing a questionnaire p17. A more detailed questionnaire can be found in ‘New Concepts in Commerce – Worksheet’s. Worksheet 15.1 ‘Do you have what it takes?’’

1.1 The importance of business (continued)

SyllabusOutcomes



3. Social and economic roles (continued)

- entrepreneurship (continued)

4. Identification of relevant stakeholders

- Students select a business they would like to own. Identify the personal qualities needed to be successful in this business. Share the responses and discuss the main differences.

- Group work. Identify someone who successfully runs a small business. List the personal qualities the person possesses that contribute to the success of the business.

- Extension activity. Set up a class debate to consider the following topic: ‘Women are better suited to starting a small business than men’. Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Enterprise Network for Young Australian (ENYA) weblink. Outline the role of ENYA.

- Outline the meaning of ‘stakeholder’ p18.

- Examine and discuss figure 1.12 p18.

- Identify and record the stakeholders for the following organisations:o a schoolo a hairdressing salono an accountancy firmo a medical surgery.


5. Business goals

6. The importance of small business (small-medium enterprises – SME)

- Briefly outline the difference between financial, social and personal goals of a business owner p19. (These goals will be explained in more detail in Topic 4.)

- Read Biz Fact p19. SMEs will be examined later in more detail.

1.2 Coordinating the business

SyllabusOutcomes



P1.1

P3.2

P4.1

P5.3

P5.5

1. Controlling the value chain

2. The role of management

- Outline the meaning of ‘value chain’ p20.

- Construct a flow chart detailing the stages of production required to produce a school play.

- Discuss the coordination that would be required to successfully produce the school play.

- Draw figure 1.14 p20. Briefly describe the relationship between the four sets of resources.

- Outline the role of management by examining figure 1.15 p21.

- Introduce the POLC functions of management p21.

- Create a series of cartoon strips to show the importance of effective management.

- Role plays.(a) Conduct a meeting that is poorly managed and another that is efficiently and effectively managed. (b) Compare the outcomes from each lesson. (c) Discuss the role managers’ play in achieving a synergistic result.

- Draw and discuss figure 1.16 p22. Outline the difference between the:o internal and external business environmento macro and operating business environment.


- Identify the stakeholders within the internal and external school environment.

1.3 Business life cycle

SyllabusOutcomes



P1.1

P1.2

P3.1

P5.3

P5.5

1. Phases and challenges of the cycle

- establishment

- Equate the business life cycle to the human life cycle. Note the main stages.

- Examine figure 2.1 p24. List and briefly explain the four main stages.

- Identify local businesses and their stage on the business life cycle.

- Read and discuss Biz Fact p25. Brainstorm the reasons for many small business owners are content to keep their businesses the same from year to year.

- Read and complete questions for Snapshot ‘Coles Myer Limited – a constantly renewed business’ p26.

- Compile a portfolio of five news articles regarding the recent changes to Coles-Myer ownership. Provide an executive summary of one article.

- Examine and discuss table 2.1 p29.

- Read and complete questions for Snapshot ‘Kirsner’s Kwik Print – establishment phase’ pp29-30.

- Outline the meaning of ‘cash flow’.

- Clarify why generating a positive cash flow is crucial for the survival of the business at the establishment phase.

- Brainstorm the main challenges confronting a business at the establishment phase.


- growth - Examine and discuss table 2.2 p31.

- Read and complete questions for Snapshot ‘Kirsner and Bartlett: Kwik as a Flash Printing – growth phase’ p32.

1.3 Business life cycle (continued)

SyllabusOutcomes



1. Phases and challenges of the cycle (continued)

- growth (continued)

- maturity

- Brainstorm the main challenges confronting a business at the growth phase.

- Discuss why the growth phase can be a difficult stage to manage?

- Using a selection of company annual reports explain the difference between:o mergero takeover (acquisition)o integration (vertical and horizontal)o diversification pp33-34.

- Extension activity. Research a recent merger or takeover (acquisition). Identify and outline the main objectives for the merger or takeover.

- Create a diagram to show how the school could expand using:o takeover (acquisition)o integration (vertical and horizontal)o diversification.


- Read and complete questions for Snapshot ‘Kwik Printing Pty Ltd – maturity phase’ p37.

- Brainstorm the main challenges confronting a business at the maturity phase.


- Group activity. Visit the local shopping centre and identify business which appear to be in the:

(a) establishment (b) growth (c) maturity phase of the business life cycle.


SyllabusOutcomes



1. Phases and challenges of the cycle (continued)

- post-maturity

2. Voluntary and involuntary cessation


- Brainstorm the main challenges confronting a business at the renewal phase.

- Arrange an interview with a local business owner to discuss the:(a) reasons for establishing the business(b) brief history of the business(c) success and failure along the way(d) financial record keeping.

- Extension activity/group activity:

o Brainstorm 10 ideas for setting up a small business within the local area.

o Select the best idea and decide how you would go about setting up the business and making the idea work. For example:

- What resources would be needed?- Who would be involved?- How much will it cost to buy the resources needed?- How much would you sell the good or service for?

o Groups to present their information to the rest of the class.

- Create a collage showing businesses closing down.


- Explain the difference between voluntary and involuntary cessation p43.

- Brainstorm the reasons why so many small businesses fail within the first few years. Highlight the importance of undercapitalisation p42.


SyllabusOutcomes



2. Voluntary and involuntary cessation (continued) - Draw figure 2.8 p44. Explain the difference between:o bankruptcyo voluntary administration o liquidation pp43-44.

- Read and complete questions for Snapshot ‘Gemma’s cash flow crisis’ pp44-45.

- Complete activity 5 p46.

- Role play. Student to assume the role of a business consultant. Class to develop a number of business scenarios which the consultant will advise on.


1.4 Types of business entity

SyllabusOutcomes



P1.1

P1.2

P5.3

P5.5

1. Classification of business

- legal structure - List the five main types of privately owned business entities p47.

- Explain the difference between unincorporated and incorporated business entities p48.

- Construct a bar graph of the statistics shown in table 3.1 p48.

- Brainstorm the advantages and disadvantages of a sole trader. Compare with figure 3.3 p49.

- Brainstorm the advantages and disadvantages of a partnership. Compare with figure 3.6 p50.

- Copy and complete the partnership agreement figure 3.5 p50.

- Read and discuss the Biz Fact p50.

- Read and complete questions for Snapshot ‘Cut and Curl Salon: from partnership to sole trader’ pp51-52.

- Using a telephone directory, find:o five examples of sole traders and partnerships that would not have to

register their nameo five examples of businesses that would have to register their name.


- Group work. You have been offered the opportunity to become a partner in a local veterinary business. In pairs devise a list of questions you should ask the owner before you sign the partnership agreement.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Business Entry Point weblink. Read about partnership agreements.

1.4 Types of business entity (continued)

SyllabusOutcomes



1. Classification of business (continued)

- legal structure (continued)

- industry sector

- Outline the difference between a proprietary (private) and a public company pp54-55.

- Brainstorm the advantages and disadvantages of the company form of ownership. Compare with figure 3.7 p54.

- Construct a mind map highlighting the main features of a proprietary company.

- Extension activity. Conduct a five week ‘Share Market Game’. Examine the role of the Stock Exchange in the development of large public companies.

- Prepare a point summary for ‘Cooperatives’ and ‘Trusts’ pp56-57.

- Introduce the concept of franchising. List ten well-known franchise business operations pp57-58.

- Brainstorm the advantages and disadvantages of a franchise agreement. Compare with figure 3.12 p58.

- Complete activities 11 – 13 pp59-60.

- Draw figure 3.13 p61.

- Create a bar graph of the statistics shown in figure 3.2 p61.


- Construct a mind map summarising the five industry sectors. Provide examples for each sector pp61-63.

- Extension activity. Research why the quinary sector has grown rapidly over the past 20 years.


SyllabusOutcomes



1. Classification of business (continued)

- size

- public/private sector

- international/transnational business

2. Selecting the right legal structure

- Provide a brief introduction to SME data p64. (SMEs will be covered in more detail in the next topic.)

- Outline the difference between public and private business enterprises pp64-65.

- Clarify the role of public business enterprises (GBEs) p64.

- List a range of:(a) international Australian businesses(b) transnational Australian businesses.

- Display the brand/company logos for a collection of these businesses.

- Extension/Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Transnational Corporations weblink. Examine Inspect an annual report for one of Australia’s large transnational corporations. Prepare a brief report on the company’s operations

- Briefly explain the general relationship between the size of a business and its


legal structure p67.

- Identify the most important factors business owners take into consideration when deciding on the most appropriate legal structure p67.


SyllabusOutcomes



3. Factors influencing choice of legal structure

- size

- ownership

- finance


- Comment on the general relationship between business life cycles phases and the business’s most appropriate legal structure.

- Outline the meaning of ‘share float’ p69. Investigate a current floating of a business.

- Comment on the ownership of private companies by examining table 3.3 p70.

- Select a number of public company annual reports and compare the ‘Twenty largest shareholders’ with table 3.4 p71.


- Explain the difference between institutional and individual shareholders pp70-71.

- Extension activity. ‘The majority of small individual shareholders have virtually no say in the running of a public company. The institutional shareholders have the game to themselves.’ Discuss

- Link the difficulty sole traders and partnerships experience when raising finance to the role played by venture and seed capital p71.


- privatisation

- Brainstorm the main reasons why many SMEs find it difficult to raise finance.

- Group activity. (a) Research the arguments for and against privatisation p73. (b) Investigate the reasons for the privatisation of Telstra.

1.5 Small-medium enterprises (SME) in Australia

SyllabusOutcomes



P1.1

P3.1

P3.2

P5.3

P5.5

1. Definition of SME

2. The number of SMEs

3. Contribution of the small business sector to the

- Revise the importance of the SME business sector to the Australian economy pp75-76.

- Explain why it is important to have a precise definition of what a small business is pp76-77.

- Distinguish between quantitative and qualitative measurements p76-77.

- Examine and discuss table 4.1 p77. Complete activity 5 pp84-85.

- List local examples of micro businesses p77.

- Outline the importance of micro businesses to the Australian economy pp77-78.

- Draw figure 4.4 p78. Discuss how both quantitative and qualitative measures are used to determine SMEs.

- Read and complete questions for Snapshot ‘Tree lopper not keen to branch out’ pp79-80.

- Discuss why it is difficult to provide an accurate number of SMEs in Australia. Equate the number of SMEs to a ‘pool’: new bushiness entering/commencing and existing ones leaving/ceasing p81.

- Create a mind map to show contribution of SMEs to:


economy o GDPo employmento balance of paymentso invention and innovation pp81-83.

- Read and complete questions for Snapshots ‘The world is their market’ p83 and ‘Great Aussie inventions’ p84.

1.5 Small-medium enterprises (SME) in Australia (continued)

SyllabusOutcomes



4. Success and failure of small business - Create a poster or pamphlet, aimed at young entrepreneurs outlining how a small business owner can maximise his or her chances of success by using the five ‘keys’ of business success from figure 4.6 p86.

- Read and complete questions for Snapshot ‘Enjoying the fruit of their labour’ pp86-88.

- Select three ‘rules’ for success in a small business and provide an explanation for each one pp88-89.


- Brainstorm the main reasons for small business failure. Compare with the resons provided p90.

- Complete activity 5 pp93-94.

- Group work. Identify and list the advantages and disadvantages of operating a home-based business.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Business Entry Point weblink. Examine the advice does this federal government site provide regarding setting up a new business.


5. Future prospects for small business - Write a newspaper article on future growth areas for small business pp91-93.

- Read and complete questions for Snapshot ‘Boys band together’ pp91-92.

1.6 The business environment and its impact on business

SyllabusOutcomes



P1.1

P3.2

P4.1

P5.3

P5.5

1. Economic and social factors

- economic cycles

- consumer tastes

- cultural and product diversity

- Draw a business/economic/trade cycle diagram p96.

- Briefly explain the prevailing economic conditions during a recession and boom pp95-96.

- Brainstorm the impact of the fluctuations in the economic cycle on businesses in general.

- Extension activity. Discuss the statement ‘The economy determines the success or failure of a business’.


- Prepare a clippings file of magazine and newspaper articles dealing with changing consumer tastes. Predict the likely impact of these changes on the small business sector p97-98. Select five articles and paste them onto a sheet of paper. Underneath each article prepare a twelve to fifteen line summary.

- Discuss the opportunities multiculturalism has provided to businesses in Australia.


2. Competitive situation - Outline the meaning of ‘sustainable competitive advantage’ p99.

- Explain the importance to business of developing a sustainable competitive advantage p99.

- Read and complete questions for Snapshot ‘The socks that grew legs’ pp99-100.

1.6 The business environment and its impact on business (continued)

SyllabusOutcomes



2. Competitive situation (continued)

- number of competitors

- ease of entry

- local and foreign competition

- marketing strategies

- Outline the meaning of ‘market concentration’ p101.

- Draw figure 5.4 p101. Provide local examples of businesses that operate in these different markets.

- Extension activity. (a) Explain why businesses operating in a perfectly competitive market cannot earn supernormal profits in the long-run.(b) Research the possible reasons why oligopolies are hesitant to engage in price competition.

- Relate ease of entry to market concentration p102.

- Provide local examples of local and foreign competition. Discuss their impact on local businesses p102.

- Extension activity. Research an industry such as the car industry and list those competitors that are locally based and those that are foreign based.

- Read and complete questions for Snapshot ‘Marketing strategies on the cheap’ pp103-104. (This is to be only a brief introduction to these marketing concepts.)


- substitutes - Prepare a list of substitutes for a range of goods and services. Discuss the impact of a cheaper substitute upon a business’s competitive position.


1.6 The business environment and its impact on business (continued)

SyllabusOutcomes



3. Government

- business law relating to levels of government

- regulatory bodies

- Complete a table listing three examples of regulations for the three levels of government: local, state and federal pp105-106.

- Extension activity. Investigate what local, state and federal government regulations you would have to satisfy to open a long-day care centre.

- Read and complete questions for Snapshot ‘Rules on the rise with few exceptions’ pp106-108.


- Discuss the following statement: ‘Businesses should not be heavily regulated’. Compare responses with table 5.1 p109.

- Identify the main regulatory bodies that operate in Australia and New South Wales p110.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for two of the following regulatory bodies and then (i) briefly describe their role and (ii) outline why their role is important in terms of business.

o Department of Environment and Conservationo Office of Fair Tradingo Australian and Securities Investment Commissiono Australian Competition and Consumer Commission pp110-111.


4. Other Institutional influences-

- Read and complete questions for Snapshot ‘Federal Court declares Radio Rentals advertising to be misleading’ p111.

- Examine and discuss table 5.3 p112. Outline the difference between an employer association and a trade union p112.

1.7 Ethical and social responsibilities of business

SyllabusOutcomes



P1.1

P3.2

P5.3

P5.5

1. Ethical responsibilities of business - Introduce the concept of ethical behaviour by using ‘Honesty is the best policy’ – Arnott’s story p114.

- Distinguish between ethical and unethical behaviour. Discuss the importance of acting ethically p115.

- Read and complete questions for Snapshot ‘Business should be steeped in ethics’ pp115-116.

- Construct a mind map summary outlining the four main ethical issues faced by business:

o fairness and honestyo communicationso workplace relationso conflict of interest.

- Examine and discuss the ethical issues raised in figure 6.2 p117 and figure 6.3 p118.

- Complete exercise 5 p120.

- Copy figure 6.4 p119. Outline the expectations of major stakeholders.

- Extension activity. Set up a class debate to consider the following topic: ‘Everyone cuts corners in business. It is the only way to survive.’ Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides.


- Extension activity. In small groups develop a Code of Conduct for your class.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for the St James Ethical Centre. Read one of the case studies and answer the questions provided.

1.7 Ethical and social responsibilities of business (continued)

SyllabusOutcomes



2. Social responsibilities of business - Outline the meaning of ‘corporate social responsibility’ (CSR) p121.

- Read and complete questions for Snapshot ‘Business philanthropy is a virtue’ pp121-122.

- Brainstorm the arguments for and against CSR. Compare responses with table 6.1 p123.

- Examine and discuss the two views of CSR pp124-125.

- Judge the value of a business adopting ‘The Ten Commandments of Corporate Social Responsibility’ p126.

- Extension activity. Complete extension activity 3 p127.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for Boral Limited and examine the sustainability report.

- Extension activity. (a) In pairs, debate the following topic: ‘Social responsibility is merely a window dressing, public relations exercise. Such activities are undertaken to attract more customers and ultimately increase profits’. One person presents the affirmative case and the other person the negative case. Each person writes the key points for their case.

(b) Divide the class into two groups, those who presented the affirmative case and those who presented the negative case. Each group is to refine their arguments before a spokesperson presents the group’s comments to the rest of the class.


1.7 Ethical and social responsibilities of business (continued)

SyllabusOutcomes



3. Responsibilities to shareholders, managers, employees and consumers

4. Reconciling conflicting interests of stakeholders

- Create a mind map summarising the main responsibilities a business has to its shareholders; managers; employees; and customers pp128-131..

- Inspect annual reports of a number of public companies to locate what each company wants to achieve for their main stakeholders.


- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for the Fair Wear Campaign. Discuss the impact of this campaign.

- Outline the difference between compatible and incompatible expectations.

- Identify the main expectations of:o shareholderso societyo environmento employers

- Group work. Suggest methods a business could use to reconcile:(a) customers wanting cheaper products and businesses seeking higher profits(b) employees requiring greater safety at work and employers wanting to reduce operating costs.

- Topic revision: class quiz or test using terminology Biz Word definitions from the margins pp6-130


- Suggested assessment tasks:(a) extended response questions pp136-137(b) multiple choice questions pp137-138(c) business terms pp138-139.

PRELIMINARY BUSINESS STUDIES REGISTER

TOPIC 1: NATURE OF BUSINESS

AREA OF STUDY:1.1 The importance of business 1.2 Coordinating the business 1.3 Business life cycle 1.4 Types of business entity1.5 SMEs in Australia 1.6 The business environment and its impact on business 1.7 Ethical and social responsibilities

Teacher's Name _________________________________________ Date commenced __________________ Date completed ________________

Content examined:

Outcomes achieved:

Teaching/Learning activities used:

Mind maps Discussion Locating information Accessing web sites Computer work- word processing

Point summary Individual research Group research Explanation Group work

Cloze exercise Debate Role play Statistical analysis Graph interpretation

Cartoon interpretation Diagram Mathematical computation Video Oral presentation

Reading Comprehension Model construction Case study Media article

Locating information Note taking Text exercise Topic summary Guest speaker

Excursion Problem solving Simulation exercise Graph construction CD Rom

Analysing information Lecturette Business quiz Test item Survey


Evaluation of program/student progress

Additional resources:

Topic 2: KEY BUSINESS FUNCTIONS Timing: 30% of indicative time

Focus: The focus of this topic is to analyse the key functions of business, examining their interrelationships and role in the success of the business.


P2.1 assess the role, importance and interdependence of key business functions in the operation of a business

P2.2 discusses the relationship between business planning and business operations

P3.2 explains the responsibilities of business to internal and external stakeholders

P4.1 explains the interrelationships between the internal and external factors on business

P5.1 selects, organises and evaluates information and sources for usefulness and reliability



use existing business case studies to investigate and communicate ideas and issues related to key business functions. The focus of these case studies will be to:

use an annual report of a public company to identify issues of significance relating to business functions

prepare and present an individual or group report on the key functions of a business.



P5.6 applies mathematical concepts appropriately in business situations

Resources: Business Studies in Action Preliminary Course 2nd Edition: Chapman, Devenish and Dhall – John Wiley and Sons

2.1 Interdependence of business functions

SyllabusOutcomes



P2.1

P2.2

P3.2

P4.1

P5.3

P5.5

P5.6

1. Identifying business functions – relationship to value chain

- Read introductory story ‘Bookers Paper Printing and Publishing’ p141.

- Brainstorm the range of business functions. Compare with figure 7.2 p142.

- Briefly outline the four key business functions p143.

- Copy figure 7.3 p143.

- Create a mind map outlining the key business functions of:o operationso employment relationso marketingo accounting and finance (pp143-144).

- Outline the interdependence of the key business functions p 144.

- With reference to an example (sandwich, movie etc) explain the meaning of ‘value added’ pp144-145.

- Compare the class example with figure 7.5 p145.


- Draw a simple, stepped diagram detailing how value may be added in a takeaway shop when a sandwich, hamburger or light meal is prepared.


2. Coordinating business functions

- Read and complete questions for Snapshot ‘Value adding in the services sector’ pp148-149.

- Provide example of mission statements p150.

- Explain why it is impractical for a small business to have distinct functional departments by using the example in figure 7.10 p151.

2.1 Interdependence of business functions (continued)

SyllabusOutcomes



2. Coordinating business functions (continued)

- planning and controlling

- functional and market structures

- Use student examples to provide instances of a function/activity that was well planned or poorly planned. Discuss:

o what is planningo the importance of planningo the different types of planning (strategic, tactical and operational)

p152.

- Outline the three steps in the planning/organising/controlling cycle with reference to figures 7.14 and 7.15 p154.

- State the kinds of activities (p154) that would occur regularly according to the following time frames:

o daily cycleso weekly cycleso monthly cycleso quarterly cycleso yearly cycles.

- Explain the importance of a business structure. Complete an organisational chart of the school to show the different functional arrangement p155.


- division of labour

- Draw and provide a brief outline of figure 7.16 p155.

- Examine and discuss figures 7.17, 7.18, 7.19, 7.20(a) and 7.21(b) pp156-158. Compare and contrast the different types of organisational designs.

- Outline the meaning of division of labour p158.

- Brainstorm the advantages and disadvantages of division of labour. Pp158-159.

2.1 Interdependence of business functions (continued)

SyllabusOutcomes



2. Coordinating business functions (continued)

- division of labour (continued)

- span of control

- chain of command


- Create an organisational chart of the school’s hierarchy and compare and contrast with figure 7.21.

- Outline the meaning of ‘span of control’ p160.

- Distinguish between narrow and wide span of control with reference to figures 7.22 and 7.23 pp160-161.

- Examine why the chain of command has become shorter over time p162.

- Group work. In small groups investigate the impact of technology on business structures, specifically:

o home-based businesseso telecommuting workerso hotelling and hot-desking pp162- 163.

- Read and complete questions for Snapshot ‘Semco – workplace democracy in action’ pp164-165.


- Examine figure 7.30 and discuss the trends in organisational design over time p166.

- Extension activity. Analyse the effects on employees of recent changes in business structures. Consider both positive and negative effects.

- Extension activity. Draw the school’s organisational hierarchies, noting the chain of command, span of control and work titles occurring at each level of the organisation.

2.2 Operations – manufacturing and services

SyllabusOutcomes



P2.1

P2.2

P3.2

P4.1

P5.1

P5.3

P5.5

P5.6

1. The role of operations - Using the classroom as an example, outline the meaning of ‘operations management’ p169.

- Read and complete questions for Snapshot ‘Moh’s Link Computing – an efficient operation’ p170.

- Discuss how the operations management can directly affect a business’s competitive position. Refer to current real-life examples.

- Create a summary highlighting the three key elements of an operations system using the following headings:

o inputso process/transformationo outputs (pp171-176).

- Identify the inputs , processes and outputs of the following organisations:o the schoolo a local motelo a doctor’s surgery.

- Distinguish between operations for simply transformed manufactures and elaborately transformed manufactures p173.

- Examine and discuss figure 8.3 p173.Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 28

2. Organising operations

- Highlight the main differences between the operations functions in a manufacturing business and a service-based business pp 174-175.

- Examine figure 8.9 (p177) and identify the range of tasks expected of an operations manager.

- Read and complete questions for Snapshot ‘Darren Mooney’ p178.

2.2 Operations – manufacturing and services (continued)

SyllabusOutcomes



2. Organising operations (continued)

- purchasing/supply chain management

- rostering and scheduling

- task design

- Use examples to demonstrate supply chain management pp178-179.

- Read and discuss Biz Fact p179.

- Outline the purpose of a rostering system pp179-180.

- Students with part-time employment to explain their business’s rostering system.

- Compare a school timetable to a schedule p180.

- Examine figure 8.10 p181 to help outline the meaning of ‘critical path’ and ‘PERT’ pp181-182.

- Outline why businesses need to schedule activities.

- Group activity. In small groups contact a manufacturing business and survey methods it uses to schedule and roster staff.

- Complete a task design for a Business Studies teacher p184. Compare with figure 8.14 p184.


- plant layout - Outline the meaning of ’plant/office layout’ p 185.


- Provide examples of:o product-oriented layout for assembly line productiono office layouto warehousing pp186-187.


SyllabusOutcomes



2. Organising operations (continued)

- plant layout (continued)

- technology, robotics, CAD/CAM

3. Control of operations

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for the Virtual Factory weblink. p189. List the stages of production involved in the manufacturing of hot air balloons.

- Analyse the classroom or school in terms of efficiency and effectiveness of layout.

- Brainstorm changes to improve productivity.

- Create a collage highlighting workplace automation pp189-190.

- Identify the benefits and costs of technology that is used within the school.

- Invite a businessperson to give a presentation on the impact of technology on his or her business.

- Extension activity. Investigate the positive and negative impacts of technology on manufacturing jobs. Present either a written or visual report.

- Identify control measures used within the class and school p192. Outline the


- inventory control

- quality management

purpose of each control measure.

- Organise for the school’s teacher-librarian to discuss the method used and importance of a library stocktake.

- Outline the role of quality management p193.


SyllabusOutcomes



3. Control of operations (continued)

- quality management (continued)

4. Records management

- Identify the quality controls used when preparing an assessable task for Business Studies.

- Outline the meaning of ‘TQM’ p194.

- Read and complete questions for Snapshot ‘Putting quality first – W.Edwards Deming’ pp194-195.

- Distinguish between quality circles and continuous improvement p195.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for the Australian Quality Council. Explain the practical effects of such standards on industry.

- Identify the types of records used within the school. Outline the purpose of record keeping.

- Discuss the storing of records using a database p196.

- Read and complete questions for Snapshot ‘Chill Music’ p197.


- Prepare a database table to show a range of assessable task events, dates due, marks gained and class position.

- Extension activity. Investigate W. Edward Demming and his development of TQM.

2.3 Employment relations

SyllabusOutcomes



P2.1

P2.2

P3.2

P4.1

P5.1

P5.3

P5.5

P5.6

1. The role of employment relations

2. The human resource cycle

- acquisition – identifying staffing needs, recruitment, selection

- Read and discuss the opening questions p200.

- Outline the meaning of ‘human resource management’ and ‘employment relations’ p202.

- Read and complete questions for Snapshot ‘Picking the best person for the job’ p201.

- Discuss the statement that ‘people are the business’s most important asset’

- Copy and discuss figure 9.3 p203.

- Create a mind map highlighting the four main functions and their related activities of the human resource cycle/staffing process pp203-204.

- Brainstorm the problems that can be created when a business employs a person unsuited to a particular position. Use figure 9.4 p205 for stimulus.

- Explain the relationship between job analysis, job description and job specification pp206-207.

- Devise a job advertisement for a fitness instructor.


- Distinguish between recruitment and selection pp207-209

- Examine and discuss the steps in the employment process, figure 9.6 p207.

- Read and complete questions for Snapshot ‘Vanessa Howell p208.

- Brainstorm the advantages and disadvantages of:o internal recruitingo external recruiting p209.

2.3 Employment relations (continued)

SyllabusOutcomes



2. The human resource cycle (continued)

- training and development

- maintenance – monetary and non-monetary benefits

- Distinguish between training and development p210.

- Examine table 9.2 p210. Part-time employed students to discuss the employment training provided by their employer.

- Read and complete questions for Snapshot ‘Investment in training at Delta Industries’ p211.

- Discuss why training and development should be viewed as an investment and not just a business expense.

- Outline the purpose of a performance appraisal p212.

- Explain the relationship between maintenance and compensation p214.

- Distinguish between monetary and non-monetary rewards p214.

- Examine the three questions on page 215 and discuss individual responses.

- Examine and discuss the meaning of figure 9.10 p216.


- Role play a situation where an employee is highly motivated then poorly motivated.

- Compare the motivational techniques used within the school to those shown in figure 9.11 p217.

- Read and complete questions for Snapshot ‘Punished by rewards’ pp217-218.

- Extension activity. Research the theories of motivation put forward by Abraham Maslow, Frederick Herzberg and Douglas Mcrgegor.


SyllabusOutcomes



2. The human resource cycle (continued)

- separation

3. Rights and responsibilities

- labour contract

- Equal Employment Opportunity (EEO)- Anti-discrimination- Affirmative Action

- Explain the difference between voluntary and involuntary separation.

- Complete a point summary of the different separation methods (pp219-220):o retiremento resignationo redundancy o retrenchmento dismissal.


- List the rights and responsibilities of both employees and employers p222.

- Read and complete questions for Snapshot ‘Rules of the Dalgetty office, 1850’ pp222-223.

- Role play a situation where a prospective employee is discriminated during a job interview.

- Briefly outline the main aims of the:Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 34

o Anti-discrimination Act 1977 (NSW)o Affirmative Action (Equal Employment Opportunity for Women) Act

1986 (Cwlth.) pp223-225.

- Examine and discuss figure 9.14 p224. Design two job advertisements that comply with EEO and anti-discrimination principles p224.


SyllabusOutcomes



3. Rights and responsibilities (continued)

- Occupational Health and Safety (OH&S) - Examine figure 9.15 p225 and list the unsafe work practices.

- Outline the purpose of OH&S legislation.

- Read and complete questions for Snapshot ‘Fatal accidents at work’ p226.

- Extension activity. Arrange to interview the OH&S representative for the school. Prepare either a written or oral report.

- Design a pamphlet or poster alerting employees and employers to the dangers which may be present in the workplace.

- Discuss the statement that ‘work is a health hazard.’


2.4 Marketing

SyllabusOutcomes



P2.1

P2.2

P3.2

P4.1

P5.1

P5.3

P5.5

P5.6

1. The role of marketing - Read and discuss Biz Fact p229.

- Outline the meaning of ‘marketing’ pp229-230.

- Conduct a marketing quiz based on current products.

- Distinguish between ‘marketing’ and ‘selling’ p230.

- Outline the meaning of ‘marketing concept’ p230.

- Explain that marketing is much more that advertising p231.

- Brainstorm the importance of marketing to a business p231.

- Examine how the definition of marketing differs from the students’ previous understanding of the term.

- Read and complete questions for Snapshot ‘Total Solutions’ marketing campaign’ pp232-233.

- Introduce the marketing plan with reference to figure 10.3 p233.

- Read and complete questions for Snapshot ‘It’s all about the customer’ pp233-234.


2. Identification of target market - Compare and contrast the marketing techniques used by Pepsi and Coca-Cola.

- Explain, and provide examples, of the difference between:o mass marketingo segmented marketingo niche marketing pp235-237.

2.4 Marketing (continued)

SyllabusOutcomes



2. Identification of target market (continued)

3. Overview of the marketing mix - the four Ps

- product- price

- Copy figure 10.4 p235.


- Create a collage of products aimed at three different target markets.

- Identify the target markets for each of the following small businesses:(a) hair salon(b) accountant(c) video store(d) exclusive female fashion boutique.

- Read and complete questions for Snapshot ‘Tidy your room, and I’ll let you buy the car’ p238.

- Discuss the statement that ‘Any business that neglects the role of marketing will almost certainly experience low levels of sales and reduced profit levels’.

- Outline the meaning of ‘marketing mix’ p239.



- promotion- place

- Complete a point summary of the four Ps pp240-242.

- Read and complete questions for Snapshot ‘Outback Trekkers launch – live on the Internet’ p242.

- Extension activity. Debate the following topic: ‘Advertising creates unrealistic lifestyle expectations that many consumers never attain’.

2.5 Accounting and finance

SyllabusOutcomes



P2.1

P2.2

P3.2

P4.1

P5.1

P5.3

P5.5

P5.6

1. The role of accounting and finance

2. Sources and uses of funds – debt and equity

- Examine a business’s set of accounts and outline the need for accounting pp244-245.

- Copy and discuss table 11.1 p245.

- Distinguish between ‘accounting’ and ‘finance’.

- List the stakeholders interested in the accounting information given by business p245.

- Discuss the purpose of the Australian Accounting Standards p246.

- Explain the importance of an audit p247.

- Extension activity. Research the Australian Accounting Standards Board (AASB) to find out more about the organisation.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Count weblink to research an auditing firm. Determine the range of financial services the firm offers.

- Distinguish between debt and equity finance pp248-249.


- Copy and discuss figure 11.4 p248 and figure 11.5 p249.

- Complete a point summary of debt financing pp249-250.

- Briefly outline the different types of debt holders/external lenders available for debt financing pp250-253.

- Complete a point summary of equity financing p 253.

2.5 Accounting and finance (continued)

SyllabusOutcomes



2. Sources and uses of funds – debt and equity (continued)

3. Preparation of elementary financial statements

- revenue statement (statement of financial performance)

- Distinguish between internal and external equity financing p253.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the St George weblink and research the different loan options.

- Introduce the need for financial statements p254.

- Examine and discuss figures 11.9 (a-d) pp255-258.

- List the names of the main accounting reports and statements.

- Outline the purpose of a revenue statement p258.

- Distinguish between:o gross profito net profit pp258-259.

- Examine the relationship between gross profit and cost of goods sold pp259-260.

- Brainstorm the common type of expenses generated by a business. Compare with figure 11.11 p260.


- balance sheet (statement of financial position)

- Calculate the gross and net profit for specific examples.

- Differentiate between operating and non-operating expenses 261.

- Extension activity. Prepare a revenue statement based on data provided such as shown in extension activity 2 p263.

- Outline the purpose of a balance sheet (statement of financial position) p263.


SyllabusOutcomes



- balance sheet (statement of financial position) (continued)

- cash flow statement

- Examine figure 11.15 p264. Note the conventional features and layout.

- Complete a mind map of:o assets (current and non-current)o liabilities (current and non-current)o owner’s equity pp264-265.

- Examine the relationship between assets, liabilities and owner’s equity.

- Extension activity. Explain why increases in business wealth add to the owner’s equity amount and thereby increase the wealth of those investing in the business.

- Introduce the balance sheet equation: A = L + OE p266-267.

- Examine and discuss examples 1 and 2 pp266-267.

- Prepare a statement of financial position based on data provided.

- Outline the meaning of ‘liquidity’ p268.

- Discuss the statement that ‘cash is the life-blood of any business’.

- Copy figure 11.16 p269. Discuss the main cash inflow and cash outflow items.


4. Key uses of financial statements

- Examine figure 11.17 and prepare a summary of the importance of a cash flow report pp269-270.

- Extension activity. Distinguish between liquidity and profitability and explain how sometimes a business will seek greater liquidity for lower profitability.

- Discuss how the three reports can provide an insight into the financial position facing a business p272.


SyllabusOutcomes



5. Budgets as planning tools - Outline the elements of a budget pp272-273.


- List the four different types of budgets.

- Read and discuss ‘Budget for planning’ pp274-275.

- Extension activity. Elaborate the following statement: ‘Financial control is essential because it monitors the business’s financial well-being.’

- Topic revision: class quiz or test using terminology Biz Word definitions from the margins pp143-272.

- Suggested assessment tasks:(a) extended response questions pp277-278.(b) multiple choice questions pp278-27.


PRELIMINARY BUSINESS STUDIES REGISTER

TOPIC 2: KEY BUSINESS FUNCTIONS

AREA OF STUDY:2.1 Interdependence of business functions 2.2 Operations – manufacturing/services 2.3 Employment relations2.4 Marketing 2.5 Accounting and finance


Content examined:

Outcomes achieved:













Topic 3: ESTABLISHING A BUSINESS Timing: 25% of indicative time

Focus: The focus of this topic is to examine the issues and steps involved in the establishment of a business, focusing on small business.



P2.3 assesses business planning processes

P3.1 explains the business life cycle and analyses the challenges that each stage presents for management

P4.2 describes the internal and external factors contributing to the success or failure of business


P5.3 communicates business information, ideas and issues, using


use existing business case studies to investigate and communicate ideas and issues related to establishing a business. The focus of these case studies will be to:

define the purpose and scope of an investigation about how one or more business/es was established

develop a plan to investigate one or more businesses, in order to identify and analyse success factors in establishing a business (one business investigated should be a small business).


relevant business terminology and concepts in appropriate forms



3.1 Key personal features in establishing a business

SyllabusOutcomes



P2.1

P2.3

P4.2

P5.1

P5.3

P5.5

1. Entrepreneurship

2. Personal qualities

- motivation

- Read and discuss introductory story ‘Maria- a small business owner’ p328.

- Identify well-known entrepreneurs. Discuss their role within the economy.

- Read and complete questions for Snapshot ‘Cool hand Luke’ pp282-284.

- Brainstorm the main characteristics of an entrepreneur. Compare responses with figure 12.1 p284.

- Complete the personal characteristics set of questions (p285) to determine suitability to being an entrepreneur.

- Compile a portfolio of five recent articles regarding successful entrepreneurs. Write an executive summary for one of the articles.

- Read and complete questions for Snapshot ‘Justin Herald’ pp285-286.

- Examine figure 12.2. Individuals identify the three most important rewards.


- experience/expectations

3. Other influences

- cultural background- gender

- Brainstorm the experiences that would assist an individual in establishing and operating a small business p287.

- Identify successful migrant entrepreneurs p288.

- Brainstorm the reasons for women starting their own businesses pp288-289.

- Read and complete questions for Snapshot ‘Horse sense’ pp289-290.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblink for Entrepreneur Network for Young Australians (ENYA).

3.2 Identifying business opportunities

SyllabusOutcomes



P2.1

P2.3

P4.2

P5.1

P5.3

P5.5

1. Sources of information

2. Considerations such as:

- Explain the concept of business opportunity p290.

- List some business opportunities within the local area. Discuss the degree of risk associated with each identified business opportunity.

- Identify five sources of help and advice for small business owners p291.

- Select one professional adviser and outline the assistance they provide to small business owners p292.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for the NSW Department of State and Regional Development. Identify advice provided by this department for small business uses pp292-293.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the weblinks for AusIndustry. Provide a brief overview of the services offered by this federal government department p293.

- Brainstorm the skills essential for long-term business success p295.


- skill requirements

- finance

- competition

- Identify successful small business operators and identify the skills they possess. Compare with the brainstorm list.

- Read and complete questions for Snapshot ‘Banks keen to hand out money to right people’ pp296-297.

- Briefly discuss the major questions to consider when assessing finance for a business by examining fig. 12.7 p297.

- Outline the meaning of ‘competitive advantage’ pp297-298.

- Select a local business (large or small) and identify its main competitors.

3.3 Identifying the target market

SyllabusOutcomes



P2.1

P2.3

P4.2

P5.1

P5.3

P5.5

1. Potential customers and their needs

2. Identifying intermediate and/or final customer markets

- mass markets- niche markets

- Revise the term ‘target market‘ p300.

- Identify the target market for the following products:o ballet performanceo Lexus motor vehicleo aged careo iPodo organic coffee.

- Read and complete the questions for Snapshot ‘Pinpoint the real market’ pp301-302.

- Discuss the following statement: ‘potential customers should be regarded as important as existing customers for the business to survive in the long run’ p302-303.

- Use magazine examples to illustrate the difference between mass and niche markets pp333-304.

- Discuss the advantages and disadvantages of developing products for either a niche or micro market pp304-305.


- potential markets

3. Determining competitive advantage

- value- benefits- price

- Elaborate why potential markets need to be identified and nurtured p305.

- Brainstorm some ways in which a Year 12 student can gain a competitive advantage in the HSC p306.

- Create a mind map highlighting how value, benefits or price can be used to gain a competitive advantage pp306-307.

- Identify a product’s tangible and intangible benefits of each p307.

3.4 Key considerations in setting up a business

SyllabusOutcomes



P2.1

P2.3

P3.1

P4.2

P5.1

P5.3

P5.5

1. Establishment options

- new (starting from scratch)

- existing

- franchise


- Brainstorm the advantages and disadvantages of starting a business from scratch pp308-309.

- Compare the brainstorm list with table 14.1 p309.

- Read and complete questions for Snapshot ‘Pasta Classica – an example of commencing from scratch’ pp309-310.

- Brainstorm the advantages and disadvantages of buying an existing business p311.

- Compare the brainstorm list with table 14.2 p311

- Brainstorm the advantages and disadvantages of buying a franchise pp311-312.

- Compare the brainstorm list with table 14.3 p312.

- Read and complete questions for Snapshot ‘Franchising their way to the top’


pp313-314.

- Consider a small business the class would like to commence. Consider which of the three business options would be the most appropriate.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the federal government’s Business Entry Point weblink. What advice is provided for purchasing an established business or commencing from scratch.

- Complete extension activity 1 p315.

3.4 Key considerations in setting up a business (continued)

SyllabusOutcomes



2. Location

- visibility- cost- proximity to suppliers- customers- support services


- Discuss the following ‘equation’(p316):

Prime Location = Customer convenience + Visibility

- Copy and complete the mind map ‘Factors to consider when choosing a location’ shown in figure 14.5 p317-319.

- Select a local small business and assess its location in terms of visibility, cost and proximity to customers.

- Group work. In small groups, briefly outline what factors need to be considered when choosing a location for three of the following businesses:

o doctor’s surgeryo hair salono car yardo book storeo fitness centreo electrical wholesaler

- Business adviser activity. A friend is planning to establish an exclusive fashion Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 48

3. Capital

- source

boutique. Outline the advice a business adviser would provide regarding the best location for the business.

- Extension activity. Discuss the following statement: ‘Location is a crucial factor for the success of some small businesses but not others’.

- Outline the meaning of ‘capital’. Explain the difference between fixed and working capital p319

- Examine figure 14.7 and revise the difference between debt and equity capital pp320-321.


SyllabusOutcomes



3. Capital (continued)

- cost

- gearing

- Discuss the cost of capital as a function of:o typeo sourceo term p320.

- Examine and discuss table 14.4 highlighting the types of debt financing p321.

- Briefly explain the term ‘gearing’ p321. (This will examined in more detail in topic 4.)

- Extension activity. Contact a bank’s loan manager and request a summary of: (a) the different types of lending options available for small businesses (b) methods of payment on money borrowed.



SyllabusOutcomes



4. Legal

- registration of business name

- zoning

- health regulations

- trade practices

- Complete a Department of Fair Trading ‘Application for Registration of a Business Name’ form figure 14.8 p323.

- Discuss the reason for business name registration and when is it required.

- Contact the local government authority to determine the zoning of different locations p324.

- Discuss the need for health regulations including health inspections p324.

- Discuss the importance of the Trade Practices Act 1974 by examining table 14.5 p325.

- Discuss the following statement: ‘Government regulations are needed to create a fair marketplace for businesses and consumers.’

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the


- patents

federal government’s Australian Competition and Consumer Commission’s weblink. (a) Outline the role of the ACCC(b) Examine some recent ACCC investigations.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the federal government’s Patent Office (IP Australia) weblink. Discuss the importance of patents p326.


SyllabusOutcomes



5. Establishing supply and distribution networks

6. Hiring staff

7. Outsourcing

- Examine figure 14.11 and distinguish between a supply network and a distribution network pp326-327.

- Outline the four different channels of distribution shown in figure 14.12 p328.

- Complete a mind map highlighting the main sources of employees for a business pp328-329.

- Revise why hiring the ‘right employee’ is so important.

- Brainstorm the characteristics a small business employer would want an employee to possess.

- Outline the meaning of ‘outsourcing’. Discuss why it has become important to businesses p330.

- Examine figure 14.14 p331. Select three business functions that may be outsourced and write a brief report on each.

- Read and complete questions for Snapshot ‘Outsourcing the hunt for the right


candidate’ pp331-333.

- Pairs debate/extension activity. In pairs, debate the following topic: ‘Outsourcing benefits the business but not so much the customer’. (a) One person presents the affirmative case and the other person the negative case. Each person writes the key points for their case.

(b) Divide the class into two groups, those who presented the affirmative case and those who presented the negative case. Each group is to refine their arguments before a spokesperson presents the group’s comments to the rest of the class.


SyllabusOutcomes



8. Taxation and on-costs

- federal and state taxes

- Create a word diorama from the main federal and state taxes that apply to businesses p334.

- Examine table 14.6 p334. Select two federal and one state government tax that applies to business. Prepare a brief summary of each tax.

- Read and complete questions for Snapshot ‘Legal requirements’ p335.

- Outline the following acronyms:o GSTo BASo ABN.

- Read and complete questions for Snapshot ‘How does the GST system work?’ pp336-337.

- Debate. Set up a class debate to consider the following topic: ‘Tax avoidance is an acceptable part of business behaviour’. Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides.

- Describe the meaning of the term ‘on-costs’ p337.


- superannuation- leave loading

- Briefly outline the on-costs of superannuation and leave loading p338.

- Extension activity. Use the ATO electronic version (e-tax) to investigate the various taxation requirements for small businesses. Complete a quarterly Business Activity Statement.

3.5 Critical issues in business success and failure

SyllabusOutcomes



P2.1

P2.3

P3.1

P4.2

P5.1

P5.3

P5.5

1. The importance of a business plan

2. Identifying and sustaining a competitive advantage

- Devise a plan for an end of term school social. Identify the main activities required when developing a plan.

- Discuss the importance of a business plan p340. (This will be covered in more detail in topic 4.)

- Identify changes in the business environment that may affect a business plan pp340-341.

- Revise the meaning of ‘competitive advantage’ p341.

- Create a mind map based on figure 15.1 and summarise how cost advantages over competitors can be developed pp341-342.

- Outline the meaning of ‘differentiation’. Provide examples of differentiation.

- Read and answer questions for Snapshot ‘Project Refresh’ p343.

- Extension/group activity. Interview a successful local small business owner. Prepare either a two-page written or five-minute oral report under the following headings:


3. Avoiding over-extension of financing and other resources

(a) critical success factors(b) importance of a business plan(c) differentiation(d) long-term success factors.

- Outline the meaning of ‘over-extension’ p344.

- Read and complete questions for Snapshot ‘Starting a small business’ p345.

3.5 Critical issues in business success and failure (continued)

SyllabusOutcomes



3. Avoiding over-extension of financing and other resources (continued)

4. Utilising and exploiting technology

- Brainstorm tips that can be used to avoid over-extension.


- Discuss why technology is so crucial to a business’s success pp347-348

- Create a collage showing the different types of technology available to a small business.

- Distinguish between e-commerce and e-business p348.

- Read and complete question for Snapshot ‘Adore this beauty e-tailer!’ pp349-350.

- Distinguish the types of organisations that have the following suffixes:o .govo .eduo .orgo .neto .com.


- Brainstorm the effects that the Internet is likely to have on small business over the next few years.

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the Amazon shopping weblink. Appraise Amazon’s home page.

- Arrange to interview a small business owner whose business has an online presence. Investigate:(a) the reasons for going online(b) the benefits of a web presence(c) the difficulties encountered in using the website.

3.5 Critical issues in business success and failure (continued)

SyllabusOutcomes



4. Managing cash flow - Revise the concept of cash flow p350.

- Identify the main causes of cash flow problems in a business pp350-351.


- Suggested assessment task:(a) multiple choice questions p353.(b) extended response questions p354.


TOPIC 3: ESTABLISHING A BUSINESS

AREA OF STUDY:3.1 Key personal features in establishing a business 3.2 Identifying business opportunities 3.3 Identifying the target market3.4 Key considerations in setting up a business 3.5 Critical issues in business success and failure


Content examined:

Outcomes achieved:













Topic 4: DEVELOPING A BUSINESS PLAN Timing: 20% of indicative time

Focus: The focus of this topic is to examine the role and processes of business planning in successful small to medium enterprises.



P2.2 discusses the relationship between business planning and business operations

P2.3 assesses business planning processes

P4.2 describes the internal and external factors contributing to the success or failure of business



use existing business case studies to investigate and communicate ideas and issues related to the development of a business plan. The focus of these case studies will be to:

analyse existing business plans from one or more businesses

adapt business case studies and other information to a prospective business.




P5.6 applies mathematical concepts appropriately in business situations

A complete business plan template (pp410-420) and a model business plan (pp420-430) are to be used in conjunction with the relevant topic chapters.


4.1 The role of the business plan

SyllabusOutcomes



P2.1

P2.2

P2.3

P4.2

P5.1

P5.3

P5.5

1. Types and purposes - Read and discuss introductory story ‘Roberto Quesnay – Glenstock Antiques and Eats’ p357.

- Compare a business plan to a road map – both provide direction. Refer to figure 16.1 p357.

- Create a point summary of section 16.1 ‘The role of the business plan’ pp357-358.

- Outline what a business plan is pp359-360

- Brainstorm the main reasons so many small businesses fail to plan. Compare the responses with figure 16.2 p360.

- Discuss the aphorism ‘Businesses do not plan to fail, they fail to plan’.

- Outline the common features of all business plan but also why no two are identical p361.

- Identify the benefits of a business plan p362.


- Extension activity. Arrange to interview a local business owner to research the following aspects of the business:

(a) planning options that had to be considered when establishing the business (b) purpose of the business plan (c) the role of the business plan within the operation of the business (d) organisations that offered assistance in developing a business plan. Present the research as a business report.

- Complete cloze exercise revision activity 9 p365.

4.2 The business planning process

SyllabusOutcomes



P2.1

P2.2

P2.3

P4.2

P5.1

P5.3

P5.5

1. Sources of planning ideas from internal and external business environments

- SWOT analysis

- Outline the meaning of 'planning'? Outline why planning is regarded as a process.

- Examine and discuss figure 16.6 – planning for a party. Introduce the terms associated with the planning process 363.

- Extension activity. Examine the benefits the process of planning offers a small business owner by discussing the following statement: ‘The process of planning is more important than the finished plan.’

- Internet activity. Go to www.jaconline.com.au/businessstudies and click on the (a) New South Wales Small Business

(b) Business Entry Point weblinks. Highlight the advice these sites offers concerning the preparation of the business plan.

- Revise the difference between a business’s internal and external environment p366.

- Explain the benefits of and how to conduct a SWOT analysis pp366=367.


- market analysis

- target market identification


- Conduct a SWOT analysis for a:(a) local business(b) local sport team.

- Discuss why the following question is important for any small business owner; ‘Who will buy my product?’p367.

- Revise the meaning of ‘target market’ p368.

4.2 The business planning process (continued)

SyllabusOutcomes



2. Vision, mission and goals

- purpose of the vision and mission statements

- types of goals

- Compare the school’s motto to a vision/mission statement p368.

- Examine figure 16.10 and then answer the following questions: (a) What are the common features of these mission/vision statements? (b) Why would it be important for employees, managers and customers to be familiar with a business's mission statement? (c) Under what circumstances would the mission statement need to be altered?

- Outline the three main goals of small business:o financialo socialo personal.

- Create a mind map highlighting the main aspects of financial goals using the following stems:

o profito return on investmento product saleso market share


o growth and diversification pp370-371.

- Read and complete questions for Snapshot ‘Boost Juice – a successful growth strategy’ pp371-372.

- Discuss the importance of social goals pp372-373.

- Read and complete questions for Snapshot ‘Miss Emily Aboriginal Art’ pp373-374.


SyllabusOutcomes



2. Vision, mission and goals (continued)

- Types of goals (continued)

- allocation of goals to functional areas

3. Forecasting

- break-even analysis

- Extension activity. Discuss the following statement and then answer the questions below: 'The main objective of a business is to maximise profits'.

(a) Define ' profit'? (b) Under what circumstances would a business be prepared to accept reduced profits in the short term? (c) Should profit be the only goal of a business?

- Provide examples of function structure with reference to the school’s organisational structure p375.

- Examine how the goals are allocated to specific functional areas p375.

- Outline the meaning of ‘forecasting’ p377.

- Explain why the break-even analysis is an important planning tool for business pp377-378.


- decision trees

- Read Biz Fact p378. Distinguish between fixed, variable and total costs.

- Work through the break-even analysis example shown in figure 16.13 p378.

- Complete revision activity 4 p386.

- Explain the purpose of a decision tree p379.

- Work through decision tree example p379.


SyllabusOutcomes



3. Forecasting (continued)

- budgets

4. Monitoring and evaluating

5. Types of controls

- sales

- Outline the importance of budgeting by comparing a business’s budget to a household budget p379-380.

- Explain the difference between ‘monitoring’ and ‘evaluating’ pp380-381.


- Discuss the following statement: ‘Any business that fails to monitor its performance will not be able to evaluate its business strategies’.

- Read and complete questions for Snapshot ‘Great performance!’ pp382-383.

- Outline the purpose of controlling strategies p383. Relate controlling to assessing a student’s performance.

- Examine and discuss figure 16.16 to highlight the use of control measures to assess performance.


- market reports

- budgets

6. Taking corrective action

- Complete revision activity 14 p387.

- Prepare a point summary of market reports using the sub-headings of:o sales analysiso market share analysiso marketing profitability analysis p384.

- Complete revision activities 14 and 15 p387.

- Outline the need to modify plan when changes occur within the business environment pp385-386.

4.3 Elements of a Business Plan

SyllabusOutcomes



P2.1

P2.2

P2.3

P4.2

P5.1

P5.3

P5.5

P5.6

1. Elements

2. Executive summary- business description and ownership


- Read and complete questions for Snapshot ‘The Dallys’ Crafty Experience store’ pp390-391.

- Examine figure 17.2 and identify the four main elements of a business plan:o executive summaryo operationso marketingo finance.

- Outline the meaning and purpose of ‘executive summary’ pp393-394

- Prepare an executive summary of a recent newspaper article.

- Discuss why the executive summary is normally written last even though it appears at the beginning of the business plan p393.

- Use table 17.1 to provide an overview of the main elements in the business plan Sample Business Studies Program: Business Studies in Action Preliminary Course 2nd Edition 2006: Chapman, Devenish & Dhall, John Wiley & Sons Australia Ltd. Page 63

- purpose of plan

- situational analysis

p394.

- Provide specific examples to determine the exact nature of each business pp394-395.

- Revise the different types of owners p395

- Briefly revise the purpose of the plan pp395-396.

- Discuss the likely outcomes if a business fails to undertake a situational analysis p396.

4.3 Elements of a business plan (continued)

SyllabusOutcomes



2. Executive summary (continued)

- business objectives and strategies

2. Operations

- description of product/service- personnel requirements and skills

- Determine three personal objectives. Devise strategies to achieve these objectives pp396-397.

- Examine and discuss figure 17.5 p397. Prepare a mind map summarising the information contained in the three areas of the operations plan p397-400. use the sub-headings of:(a) Product/service description(b) personnel requirements(c) personnel skills

- Extension activity. Select a local small business and undertake the following tasks:(a) describe the business’s main activities(b) explain how the business responds to changes in the business environment(c) outline how the business attempts to differentiate itself from competitors.


3. Marketing

- market analysis- sales forecasting- marketing strategies

4. Finance

- financial requirements

- Outline the purpose of the marketing plan p401.

- Construct a flow chart to summarise the connection between:(a) market analysis(b) sales forecasting(c) marketing strategies pp401-402.

- Read and complete questions for Snapshot ‘Small business finance – planning essential’ pp403-404.

- Outline the role of the finance plan p405.

- Examine figure 17.11 and revise debt and equity financing pp405-406.

4.3 Elements of a business plan (continued)

SyllabusOutcomes



4. Finance (continued)

- forecasts (continued)

- records

- controls

- Discuss the importance of financial forecasts p407.

- List the main financial records required by a small business.

- Discuss the role of budgets in the control process.

- Extension activity. Undertake an analysis of the motor vehicle market. Investigate:(a) market size(b) firms within the industry(c) market share of each firm(d) growth of the market(e) market segmentation and target markets(f) geographic distribution of the market.



- Suggested assessment task:(a) multiple choice questions p431.(b) match the terms pp431-432.(c) calculation and analysis p432.(d) extended response questions p432.

A complete business plan template (pp410-420) and a model business plan (pp420-430) are to be used in conjunction with the relevant topic chapters.

TOPIC 4: DEVELOPING A BUSINESS PLAN

AREA OF STUDY:

4.1 The role of the business plan 4.2 The business planning process 4.3 Elements of a Business Plan


Content examined:

Outcomes achieved:














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