BUSINESS MANAGEMENT UNIT 1 REVISION by https://padlet.com/pickett_matt_m/BMAUnit1Revision Planning a Business en-us 2018-05-23 06:46:35 UTC 2023-01-30 21:36:30 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/214867493/4e92e5417cadc6c66f2741789435dc2d/Planning__1_.jpg TUESDAY 11 JUNE pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262928264 2018-05-23 06:54:31 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262928264 Format/Structure pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262928376
As with most of your exams you have:

  • 10 minutes reading time
  • 90 minutes writing time

There are 60 marks in total so it fits right in line with the end of Year 12 exam.

The paper is set out in 3 sections, one for each of the outcomes we have covered:

Section A - The business idea
(20 marks)

Section B - External environment
(20 marks)

Section C - Internal environment
(20 marks)

The TASK WORDS in the SAC are:

  • Identify
  • Define
  • Outline
  • Describe
  • Explain
  • Distinguish between
  • Compare
  • Analyse
  • Evaluate

Make sure you know what each of these requires you to do with a question & construct appropriate responses. If a question asks you to 'outline' 5 things for 5 marks and you basically list them, the most you will score is 1/5. If you are asked to 'evaluate' something, you can never score anywhere near full marks if you don't argue both sides (advantages/disadvantages, positives/negatives etc etc).
]]> 2018-05-23 06:55:07 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262928376 Key Knowledge pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968296 1. Business resource needs
2. Business locations
3. Sources of finance
4. Existing business v new business
5. Business legal structure
6. Business model
7. Business support services
8. Planning tools such as SWOT
9. CSR issues]]> 2018-05-23 10:05:38 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968296 Key Knowledge pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968858 1. Overview
2. Legal & government (MACRO)
3. Societies attitudes (MACRO)
4. Economic conditions (MACRO)
5. Technological issues (MACRO)
6. Global issues (MACRO)
7. CSR issues (MACRO)
8. Customers (OPERATING)
9. Competitors (OPERATING)
10. Suppliers (OPERATING)
11. SIGs (OPERATING)]]> 2018-05-23 10:09:32 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968858 Key Knowledge pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968890 1. Sources of business opportunity
2. Motivation for starting business
3. Characteristics of entrepreneurs
4. Importance of goal setting
5. Business concept development
6. Market research & feasibility
7. Contributions of businesses
8. Fostering culture of innovation]]> 2018-05-23 10:09:44 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262968890 pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262978588 Step 1

First thing to do is to complete your set of study notes. You should have been making these the whole way along, at least in preparation for the SACs. Use these as your starting point and make sure they are complete. Mind maps are a really good way to go in this subject - even the process of creating them really helps embed the knowledge in your mind. In the post below are some examples.

Step 2

Once you have your notes there are 4 practice exams in the far right hand column. My suggestion would be to try Practice Exam 1 & 2 using the study notes you made and nothing else. The idea here is to see if your notes are of the quality & depth that you need to answer the questions. If you can answer all of those questions using just your study notes you know those notes are pretty decent. If you find yourself struggling to answer questions using your notes you need to go back & redo those notes. Most of you proved that you are pretty hopeless at making study notes earlier on in the semester when I let you bring them into the first SAC & you still couldn't nail it. You REALLY need to sort this out before you get to Year 12.

Step 3

Once you're managing to do questions easily using your notes, try doing the other two practice exams without them.

Step 4

You then need to somehow commit as much of the content in your notes to memory. This is the hard bit (for most people). How you do this is up to you but you should, by now, know the best way for you to do this. No it isn’t fun, yes it’s hard work. Get over it, suck it up and get on with it. Such is life if you take the VCE route. It's been like this for ever and, chances are, it always will be. Billions of people have been through it, you'll live, stop whingeing.

Step 5

The final thing you might want to do is some further practice questions. You can look back at the SACs you’ve done and there are chapter summary questions at the end of each chapter of the textbook.

With the practice exams you do, bring them to me so we can go through them together. When classes finish this still applies – come and find me at my desk when I am not teaching & I’ll provide any help you need.]]> 2018-05-23 10:59:06 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262978588 Set of sample mind maps pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262981122 These were actually produced by the top student in the 2014 class (study score of 44). There are 5 here, one for each outcome in the Year 12 course at that time (previous study design). The whole class ended up using these to study from in the weeks leading up to the exam & it helped lift most of them.]]> 2018-05-23 11:14:33 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/262981122 Practice Exam 1 pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182162 2018-05-23 22:36:57 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182162 Practice Exam 2 pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182532 2018-05-23 22:40:33 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182532 Practice Exam 4 pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182894 2018-05-23 22:44:12 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263182894 Practice Exam 3 pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263183001 2018-05-23 22:45:28 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/263183001 Practice Exam 1 - SOLUTIONS pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/264919592 2018-06-01 01:12:10 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/264919592 Practice Exam 2 - SOLUTIONS pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/264919714 2018-06-01 01:13:31 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/264919714 Practice Exam 4 - SOLUTIONS pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/265785145 2018-06-06 03:45:58 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/265785145 Practice Exam 3 - SOLUTIONS pickett_matt_m https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/265785550 Sorry, I don't have a set for this one. If you get as far as this one come & see me & I'll look through it with you.]]> 2018-06-06 03:48:53 UTC https://padlet.com/pickett_matt_m/BMAUnit1Revision/wish/265785550