Β§-Business Studies syllabus
NSW Β· NESAβ Business Studies
Business Studies syllabus, dot point by dot point
Every dot point in the NSW Business Studies syllabus, with a focused answer for each. Click any dot point for a worked explainer, past exam questions and links to related points.
Topic 1: Operations
Module overview βHow do global factors influence operations strategies?
Operations strategies - global factors - global sourcing, economies of scale, scanning and learning, research and development; supply chain management - logistics, e-commerce, global sourcing
What influences operations decisions in contemporary Australian businesses?
Influences on operations - globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environmental sustainability, and corporate social responsibility (the difference between legal compliance and ethical responsibility)
What are the components of operations and how do they interact?
Operations processes - inputs (transformed and transforming resources), transformation processes (the influence of volume, variety, variation in demand, and visibility), and outputs (customer service, warranties)
How are operations strategies used to achieve business objectives?
Operations strategies, including performance objectives (quality, speed, dependability, flexibility, customisation, cost), new product or service design and development, supply chain management, outsourcing, technology, inventory management, quality management and overcoming resistance to change
How do businesses manage and improve quality across their operations?
Operations strategies - quality management - control, assurance and improvement (including TQM, ISO standards, Six Sigma, benchmarking, continuous improvement)
What is the role of operations management in a business?
The strategic role of operations management, including cost leadership and goods and/or services differentiation, and the interdependence with other key business functions
Topic 2: Marketing
Module overview βHow are ethical and legal expectations managed in marketing?
Ethical and legal aspects - consumer laws (deceptive and misleading advertising, price discrimination, implied conditions, warranties); ethical aspects of marketing - truth, accuracy, good taste in advertising; sex, religion, gender; products that may damage health
How do businesses adapt marketing strategies for global markets?
Marketing strategies - global marketing - global branding, standardisation, customisation, global pricing, competitive positioning
What influences marketing decisions and how do customers make choices?
Factors influencing customer choice (psychological, sociocultural, economic, government); consumer laws (deceptive and misleading advertising, price discrimination, implied conditions, warranties); ethical aspects of marketing
How are product and price elements of the marketing mix used strategically?
Marketing strategies - market segmentation, product/service differentiation and positioning, products (branding and packaging), price (pricing methods - cost, market, competition-based; pricing strategies - skimming, penetration, loss leader, price points)
How are promotion and place elements of the marketing mix used strategically?
Marketing strategies - promotion (elements of the promotional mix - advertising, personal selling and relationship marketing, sales promotions, publicity and public relations); place/distribution (channel choice including intermediaries, intensity, physical distribution); people, processes and physical evidence; e-marketing; global marketing
What is the role of marketing in business and how is the marketing process structured?
The strategic role of marketing, production, selling and marketing approaches; the marketing process - situational analysis (SWOT, product life cycle), market research, establishing market objectives, identifying target markets, developing marketing strategies, implementation, monitoring and controlling
Topic 3: Finance
Module overview βHow is cash flow and working capital managed strategically?
Financial management strategies - cash flow management (cash flow statements, distribution of payments, discounts for early payment, factoring); working capital management (control of current assets - cash, receivables, inventories; control of current liabilities - payables, loans, overdrafts; strategies - leasing, sale and leaseback)
How are ethical and legal expectations managed in financial management?
Ethical and legal aspects of financial management - audited accounts, record keeping, reporting standards, GST, taxation; the role of ASIC, APRA and the ATO; ethical responsibilities of financial managers
How are financial reports analysed using ratios?
Monitoring and controlling - financial ratios - liquidity (current ratio); gearing (debt to equity); profitability (gross profit ratio, net profit ratio, return on equity); efficiency (expense ratio, accounts receivable turnover); limitations of financial reports
How do businesses manage profitability and global financial exposures?
Financial management strategies - profitability management (cost controls - fixed and variable, cost centres, expense minimisation; revenue controls - marketing objectives); global financial management - exchange rates, interest rates, methods of international payment, hedging, derivatives
What is the role of financial management in a business?
Strategic role of financial management; objectives of financial management - profitability, growth, efficiency, liquidity, solvency, short-term and long-term; interdependence with other key business functions
What are the sources and influences on financial management for a business?
Sources of finance - internal (retained profits); external (debt - short-term: bank overdraft, commercial bills; long-term: mortgage, debentures, unsecured notes, leasing; equity - ordinary shares - new issues, rights issues, placements, private equity); financial institutions; influence of government and global market
Topic 4: Human Resource Management
Module overview βHow is the effectiveness of human resource management measured and evaluated?
Effectiveness of human resource management - indicators (corporate culture, benchmarking key variables - including levels of staff turnover, absenteeism, accidents, levels of disputation, worker satisfaction, quality of output)
What are the processes of human resource management?
Processes of human resource management - acquisition (recruitment and selection); development (induction, training, mentoring, performance appraisal); maintenance (employee participation, organisational culture, change management); separation (voluntary - resignation, retirement; involuntary - retrenchment, redundancy, dismissal)
How are rewards and workplace disputes managed?
Strategies - leadership style, job design, recruitment, training and development, performance management, rewards - monetary and non-monetary, individual or group, performance-based; global - the costs, skills and supply of labour; workplace disputes - resolution of disputes through negotiation, mediation, grievance procedures, involvement of courts and tribunals
What are the key influences on human resource management?
Stakeholders - employers, employees, employer associations, unions, government organisations, society; legal - the current legal framework (employment contracts, awards, minimum employment standards, enterprise agreements, work health and safety, anti-discrimination, EEO); economic; technological; social - changing work patterns, living standards; ethics and corporate social responsibility
What is the role of HRM in a business?
Strategic role of human resources; interdependence with other key business functions; outsourcing - HR functions, using contractors
