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BUSINESS MANAGEMENTWritten examination
Monday 5 November 2018 Reading time: 3.00 pm to 3.15 pm (15 minutes) Writing time: 3.15 pm to 5.15 pm (2 hours)
QUESTION AND ANSWER BOOK
Structure of bookSection Number of
questionsNumber of questions
to be answeredNumber of
marks
A 5 5 50B 5 5 25
Total 75
• Studentsaretowriteinblueorblackpen.• Studentsarepermittedtobringintotheexaminationroom:pens,pencils,highlighters,erasers,
sharpenersandrulers.• StudentsareNOTpermittedtobringintotheexaminationroom:blanksheetsofpaperand/or
correctionfluid/tape.• Nocalculatorisallowedinthisexamination.Materials supplied• Questionandanswerbookof24pages• Additionalspaceisavailableattheendofthebookifyouneedextrapapertocompleteananswer.Instructions• Writeyourstudent numberinthespaceprovidedaboveonthispage.• AllwrittenresponsesmustbeinEnglish.
Students are NOT permitted to bring mobile phones and/or any other unauthorised electronic devices into the examination room.
©VICTORIANCURRICULUMANDASSESSMENTAUTHORITY2018
SUPERVISOR TO ATTACH PROCESSING LABEL HEREVictorian Certificate of Education 2018
STUDENT NUMBER
Letter
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2018BUSMANEXAM 2
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3 2018BUSMANEXAM
SECTION A – Question 1–continuedTURN OVER
Question 1 (10marks)123ChildcareCentreisabusinessoperatingasapartnership.Itprovideschildcareservicesforchildrenagedfiveandunder.MaryKidd,oneofthepartnersatthecentre,wantstomeetthedemandforhigh-qualityandreliablechildcareinherlocalarea.However,employeescomplainoflonghoursandtheirmotivationislow.StaffturnoverisaproblemandMaryisunsureofhowtoaddressthis.
a. Definetheterm‘partnership’asatypeofbusiness. 2marks
b. Describeabusinessobjective(otherthan‘tomakeaprofit’)thatwouldberelevantto123ChildcareCentre. 2marks
SECTION A
Instructions for Section AAnswerallquestionsinthespacesprovided.
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SECTION A – continued
2018BUSMANEXAM 4
c. Maslow’sHierarchyofNeedshasbeensuggestedtoMaryasanappropriatemotivationaltheoryforimprovingemployeeperformance.
Describethistheoryofmotivationandexplainhowitcouldbeappliedat123ChildcareCentretoreducethelevelofstaffturnover. 6marks
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SECTION A – continuedTURN OVER
5 2018BUSMANEXAM
Question 2 (6marks)Explaintheimportanceofleadershipinchangemanagement.Inyourresponse,refertoacontemporarybusinesscasestudy.
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SECTION A – Question 3–continued
Question 3 (16marks)ThemanagerofWilkinson’sWindowTintingwasdisappointedwiththeperformanceofthebusinessafteroneyearoftrading.Asaresult,shedecidedtopurchasenewmachineryandautomatethetintingprocess.Attheendofthesecondyearoftrading,themanagerexaminedarangeofkeyperformanceindicatorsinordertoassesstheextenttowhichthischangehadbeensuccessful.
Key performance indicator Year 1 Year 2
netprofitfigure $47000 $23 000
rateofproductivitygrowth 2% 8%
numberofcustomercomplaints 112 28
rateofstaffabsenteeism averageoffourdays peryearperstaffmember
averageof12days peryearperstaffmember
a. Definetheterm‘keyperformanceindicator’. 2marks
b. Withreferencetothedataabove,analysetheextenttowhichthepurchaseofthenewmachineryhasassistedWilkinson’sWindowTintinginimprovingtheperformanceofthebusiness. 6marks
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SECTION A – Question 3–continuedTURN OVER
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2018BUSMANEXAM 8
SECTION A – Question 3–continued
c. Explainhoweachofthefollowingmanagementstrategiescouldbeusedtorespondtothekeyperformanceindicatorsinthetableonpage6andpositionthebusinessforthefuture. 8marks
• Redeploymentofresources
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SECTION A – continuedTURN OVER
9 2018BUSMANEXAM
• Achangeinmanagementstyle
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2018 BUSMAN EXAM 10
SECTION A – Question 4 – continued
Question 4 (10 marks)‘To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.’
Source: Larry Fink, Chairman and CEO, BlackRock, Inc., ‘Larry Fink’s Annual Letter to CEOs: A Sense of Purpose’, 2018, <www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter>
Analyse two ways in which corporate social responsibility considerations influence decisions made by managers. In your response, refer to two different areas of management responsibility.
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SECTION A – continuedTURN OVER
11 2018BUSMANEXAM
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SECTION A – Question 5–continued
Question 5 (8marks)AUSSwimsuitLtdmanufacturesswimwearproductsatitsAustralianproductionfacility.ItsellstothepublicthroughretailoutletsinmajorshoppingcentresaroundAustralia.Duetotheseasonalnatureoftheseproducts,themajorityofsalesoccurduringthemonthsleadinguptotheAustraliansummer.Themanager,PhuNguyen,wantstousearangeofstrategiestoseekoutbusinessopportunitiesgloballyandextendthesellingseason.Heknowsthatimprovementsinefficiencyandeffectivenessofbusinessoperationsarerequiredinordertoimproveinternationalcompetitiveness.
a. DescribehoweachofthefollowingstrategiescouldassistAUSSwimsuitLtdinimprovingitsoperations. 4marks
• Forecasting
• Websitedevelopment
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END OF SECTION ATURN OVER
b. Phuwantstoannouncehisplanstoexpandglobally,butheisconcernedaboutthepossibilityofemployeeresistance.
Describeonehigh-riskstrategyandonelow-riskstrategythatPhucouldusetoovercomeemployeeresistanceduringaperiodofchange. 4marks
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2018 BUSMAN EXAM 14
SECTION B – continued
Case studyThe Daily Swell is a local print and online newspaper. It recently published the following article about a local business.
SECTION B – Case study
Instructions for Section BUse the case study provided to answer the questions in this section. Answers must apply to the case study.Answer all questions in the spaces provided.
Regional Community Hub for AllTessa Adams and Charlie Liu opened Ocean Skate Hub in 2017. It is a social enterprise aimed at servicing the needs of the local youth community. It offers indoor and outdoor skate parks, and youth and homework clubs. It also operates a sports shop and cafe.
After finishing school, Charlie completed a Sports Management degree and Tessa completed a Commerce degree. Having both worked in their chosen fields for several years, Tessa and Charlie recently moved from the city back to their hometown, where they began setting up their business enterprise. Charlie commented that ‘we wanted to offer a place where young people from the community could come and try different activities, socialise and gain some new skills’.
After carrying out their research into what financial assistance was available, Tessa and Charlie applied for support through a government initiative called Social Enterprise Finance Australia (SEFA).
SEFA provides finance solutions to mission-led organisations and is deeply committed to fostering positive social and environmental impacts in communities across Australia. SEFA is also there to help new business ventures, like Ocean Skate Hub, build their capacity to manage debt and become financially sustainable.
‘We highly value the intensive support we received from SEFA. They helped us put together a rock-solid business case’, said Tessa.
Ocean Skate Hub uses its website and social media to provide information to customers and has launched an app to let members book activity sessions. Members are encouraged to give feedback to the organisation to help it meet its aims of improving customer service and finding interesting activities for all users.
All employees are from the local area, and Tessa and Charlie are passionate about keeping all services within the region. Their preference is for staff training to be carried out within the business; however, this is proving to be challenging for Ocean Skate Hub to achieve, and Tessa and Charlie feel they may have to outsource staff training in the future.
With the success of the business behind them, Tessa and Charlie have big plans for expansion in 2019 to provide services for the whole community, not just its youth. These include IT classes for the elderly, as well as photography, cooking, woodwork and gardening classes for all ages.
‘With all these exciting changes planned for 2019, we will be relaunching as “Ocean Hub” to better reflect the expanded range of community activities that will soon be available’, Charlie said.
Mayor Colin Sprey commented that ‘it is encouraging to see our young entrepreneurs giving back to their community’.
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15 2018BUSMANEXAM
SECTION B – continuedTURN OVER
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Question 1 (2marks)DescribeonefeatureofasocialenterpriselikeOceanSkateHub.
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2018BUSMANEXAM 16
SECTION B – continued
Question 2 (6marks)DescribethekeyelementsofOceanSkateHub’soperationssystem.
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SECTION B – continuedTURN OVER
Question 3 (5marks)ExplainhowOceanSkateHubcouldapplytheprinciplesoftheForceFieldAnalysistheory(Lewin)inimplementingitsexpansionplansfor2019.
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SECTION B – Question 4–continued
Question 4 (7marks)EmployeewagesandconditionsofworkarecurrentlydeterminedviatheSportingOrganisationsAward2010.However,TessaandCharlieareconsideringestablishinganagreement.
Explainawardsandagreementsasmethodsofestablishingemployeewagesandconditionsofwork.ProposeandjustifywhichmethodTessaandCharlieshouldadopt.
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SECTION B – continuedTURN OVER
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2018BUSMANEXAM 20
Question 5 (5marks)OutlinetheinterestsoftworelevantstakeholdersofOceanSkateHub.Explainhowtheseinterestsmaybeinconflict.
END OF QUESTION AND ANSWER BOOK
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TURN OVER
Extra space for responses
Clearly number all responses in this space.
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2018BUSMANEXAM 22
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23 2018BUSMANEXAM
TURN OVER
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Ananswerbookisavailablefromthesupervisorifyouneedextrapapertocompleteananswer.Pleaseensureyouwriteyourstudent numberinthespaceprovidedonthefrontcoveroftheanswerbook.At the end of the examination, place the answer book inside the front cover of this question and answer book.
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