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VCE Business Management Revision Lecture

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VCE Business Management Revision Lecture

  1. 1. Good concept map note taking
  2. 2. Bad concept map note taking
  3. 3. Cornell style note taking
  4. 4. U3 Corporate Management U3 AOS 1 LSO‟s in Context U3 AOS2 Internal Environment U3 AOS 3 Operations
  5. 5. U3 AOS 1 LSO‟s in Context Characteristics of LSOs Business Objectives Management Functions Contributions to the Economy Business Environments Performance Indicators Stakeholders
  6. 6. Characteristics of LSOs 200+ staff (100+ manufacturing) Substantial revenue/turnover/income (in the millions) Substantial assets ($200 million plus) Multi site Multi-national/trans national
  7. 7. Business Objectives Types of LSO – Goods vs Services - Corporation/company Private vs Public - Not For Profit (NFP) Charity/Foundation - Government Organisation/Department - Government Business Enterprise (GBE) Types of Business Objectives
  8. 8. SMART Business Objectives Specific, Measurable, Achievable, Realistic and Time Framed. Financial Specific:
This means have we described the objective in as much detail as possible, describing exactly what is to be - Profit achieved. Measurable:
How will we know when we have achieved this Company objective? What are we measuring this against? (e.g. a % GBE ( + service) growth over last year or a dollar value to be achieved?). Achievable:
Is this objective reachable, doable, practical and Social feasible. Do we have sufficient resources to achieve this objective? - service Realistic:
Is this a sensible and reasonable objective? Realistic can also be interpreted as relevant, meaning, is the NFP objective in tune with our business focus? Government Org.
  9. 9. Objectives Format 2. Have $30,000 turnover in first year of operation 5. Have product range expand to include a variety of handmade homeware by the end of the first twelve months
  10. 10. Goods vs Services Goods Services Tangible – can be touched Intangible Can be stored Cannot be stored Manufactured in factory without Performed/delivered with customer present customer present Eg. Toyota Motor Corporation Eg. Australia Post sorting Australia making engines for the Melbourne residential mail at the VX50 Camry in Altona Dandenong Letters Centre
  11. 11. Public vs Private Sector Public Sector Private Sector NFPs Private Companies Government Organisations Public Companies GBEs Privatisation = selling off a public Public/Private Partnership (PPP) sector LSO to the private sector is an agreement between both eg. Citylink leased roads from Government in return for building and maintaining the roads and toll collection
  12. 12. Public vs Private Companies Public Company Private Company Ltd Pty Ltd Unlimited shareholders 2-50 shareholders Company „floated‟ and then Permission needed to trade shares traded on stock exchange shares (ASX) – anyone can buy Eg Telstra Eg Aussie Disposals 40 1.4 million shareholders franchised stores around (2010 revenue $25 billion) Australia
  13. 13. Management Functions Operations/Production Human Resources Finance Marketing Research and Development (R&D) etc
  14. 14. Contributions to the Economy Cadbury has about 35 per cent of the local Jobs Build Industrial Base Tax confectionary market and employs 2300 people in Australia, Consumer Choice LSO Gross Domestic among 45,000 employees worldwide, Product (GDP) and runs three Australian factories. Overseas Turnover in 2009 Infrastructure Investment R&D – Innovation approx $935 million.
  15. 15. Business Environments Macro-env‟t • • • Global – UN Agreements eg. Kyoto Protocol Legal/Political – laws/elections eg. carbon tax Technology – e-commerce, communications • Economic – GFC, European Debt Crisis, value $AUD no control • • Social Attitudes – CSR, women in work, work/life balance Envronmental – natural disasters eg. floods and fires Operating Env‟t • • Competitors – what are they doing? Government – legal compliance, tax • Lobby Groups – RSPCA, Philip Island Action Group some control • • • Unions – representing workers‟ interests Financiers/Creditors – loaning $ Customers – what do they want? • Workers Internal Env‟t • • • Managers/Staff Assets/Capitall/$ Facilities • Equipment full control • • Policies & Procedures Corporate Culture
  16. 16. A SURVEY IS NOT A PERFORMANCE INDICATOR - IT IS A DATA COLLECTION TOOL Performance Indicators Financial PIs Non-financial PIs Profit per time period Customer Satisfaction or Repeat Customers Revenue/Turnover (annual) Staff Satisfaction or Morale Return on Investment (ROI) Staff Turnover Share Price Fluctuations Product or Service Quality Value of Assets Number of Sales or Customers Value of Market Share Level of Waste
  17. 17. Stakeholders Workers Suppliers Managers Global Community Board of Directors Local Community LSO Shareholders/Invest ors Lobby Groups eg Financiers/Creditors RSPCA Unions
  18. 18. U3 AOS2 Internal Environment Management Structures Corporate Culture Management Roles Policy Development Management Styles Management Skills Relationship between styles and skills Ethics and CSR
  19. 19. Management Structures Functional Structure Divisional Structure - Product based - Customer based - Geographic based Matrix Structure Organic/Network/Virtual/Satellite Structure
  20. 20. Structures - Standard Shareholders Board of Directors SPECIALISATION CEO VERTICAL Senior Manager Middle Manager Frontline Manager /Supervisor Worker Worker Worker HORIZONTAL SPECIALISATION
  21. 21. Functional Structure Senior Manager HR Financial Marketing Operations
  22. 22. Structures - Divisional Senior Management Asia Australia Whitegoods Hardware Marketing Accounting Human Resources Marketing Accounting Human Resources Workers Workers Workers Workers Workers Workers
  23. 23. Matrix Structure FUNCTIONS DIVISIONS Managers HR $ Marketing Operations Project A W W W W Project B W W W W Project C W W W W Project D W W W W
  24. 24. Organic Structure Operations Finance Human Marketing Resources LSO Administration
  25. 25. Corporate Culture Definition Corp. Cult. Official vs Unofficial/real Corp. Cult. Strong vs Weak Corp. Cult. Indicators of Corp. Cult. Strategies to effectively change Corp. Cult.
  26. 26. Corp. Cult. Indicators
  27. 27. Organizations should strive for what is considered a “healthy” organizational culture in order to increase productivity, growth, efficiency and reduce employee turnover and other counterproductive behavior. A variety of characteristics describe a healthy culture, including: • Acceptance and appreciation for diversity • Regard for and fair treatment of each employee as well as respect for each employee‟s contribution to the company • Employee pride and enthusiasm for the organization and the work performed • Equal opportunity for each employee to realize their full potential within the company • Strong communication with all employees regarding policies and company issues • Strong company leaders with a strong sense of direction and purpose • Ability to compete in industry innovation and customer service, as well as price • Lower than average turnover rates (perpetuated by a healthy culture) • Investment in learning, training, and employee knowledge http://en.wikipedia.org/wiki/Organizational_culture
  28. 28. Management Roles Planning Leading Organising Controlling
  29. 29. Carlton United Brewers aspires to become "The beer company loved by Planning Australians", built upon a foundation of a proud heritage, strong brands, and Australian ownership. Strategic Planning – 2 to 5 years - Done by senior managers - Vision and Mission statement (WHERE we want to go and HOW we will get there) - SWOT Tactical Planning – 1 to 2 years - Done by middle managers - Departmental planning to implement mission Frontline Planning – daily, weekly to 6 mths - Done by frontline managers/ supervisors to do the actual work - Staffing rosters
  30. 30. Research current situation Draft Consult Stakeholders Redraft Distribute and implement
  31. 31. Leading Definition – distinguish between manager and leader Characteristics of an effective leader Types of power Karpin Report
  32. 32. The leader always sets the trail for others to follow
  33. 33. Organising Definition Examples of activities
  34. 34. Controlling Definition Examples of activities
  35. 35. Policy Development Policy vs Procedure 6 step process Forces external and internal that may instigate policy change Example
  36. 36. Management Styles Autocratic Persuasive Consultative Participative LF strict relaxed Autocratic/Authoritarian Persuasive Consultative Participative/Democratic Laissez-faire Definition, advantages and disadvantages, example
  37. 37. Autocratic Persuasive One way communication One way communication Centralised decision No employee involvement making Employees are “sold” the No employee involvement decision Advantages Advantages Quick Quick Explanation could lead to Accountable greater acceptance Disadvantage Disadvantages Lack of trust Ideas and skills of employees Negative culture ignored Lack of trust Management Styles 4 Taken from Blair Cooper lecture notes 2010
  38. 38. Consultative Participative Two way communication Democratic Employees consulted Sense of ownership Manager makes final Using employees skills, decision knowledge and ideas Advantages Advantages Employees in better position Improved relationships Positive culture Builds positive culture Disadvantages Disadvantages Consensus difficult Can ostracise staff not consulted Employee involvement not always beneficial Time consuming Taken from Blair Cooper lecture notes 2010 4
  39. 39. Laissez-faire Very little if any authority Informal Requires highly motivated staff Advantages High degree of trust Builds skills and knowledge Disadvantages Easy to slack off Potential lack of accountability Management Styles Taken from Blair Cooper lecture notes 2010 4
  40. 40. Mgt Style - Participative
  41. 41. Management Skills Decision-making and Time Management Problem Solving Visionary Communication Team Building Negotiation EQ People/soft/feminine Interpretive Stress Management Analytical Delegation Leadership
  42. 42. Stress management X
  43. 43. Stress management Look after health Exercise Quality of life – work/life balance Family first Exercise brain
  44. 44. Ethics and CSR Ethical and unethical internal policies and practices Strategies to demonstrate ethics: - Code of Ethics - Code of Conduct - Customer Charter - Independent Auditors - Workplace Grievance Procedures
  45. 45. U3 AOS 3 Operations Definition of function – relation to objectives Goods operations vs service operations (table) Three key elements Productivity and business competitiveness Strategies to optimise operations: - Facilities Layout x 3 - Materials Management x 3 - Quality Management x 3 - Technology x 5 Ethics and CSR
  46. 46. Operations Key Elements INPUTS – resources, skills, equipment THROUGHOUTS/PROCESSES – ways of transforming resources into product/service OUTPUTS – products, services, goals met http://manufacturing.stanford.edu/
  47. 47. Systems approach Values/Objectives vision mission INPUTS Relationships OUTPUT S Processes Product or Resources: Throughputs service Time Transformations $ Skills Equipment Customers HR Feedback Targets Policies KPIs
  48. 48. Facilities Layout Product Layout – mass production Process Layout – batch production Fixed position Layout – custom/project production
  49. 49. A Materials Management B Just in Time Approach: C - have supplies delivered at the right time to enter the production process Push n Pull System D ABC Inventory Analysis: - classification system E - „A‟ in need of most care/security/refrigeration - „B‟ needs less and so on F
  50. 50. Further materials management Master Production Schedule (MPS) Overall view of what type of materials are needed Materials Requirements Plan (MRP) Specific amounts of materials and time of delivery Key Terms – economy of scale, supply chain
  51. 51. Quality Management Quality Control Quality Assurance Total Quality Management
  52. 52. Technology Mechanisation Computer Aided Manufacturing (CAM) Automation Computer Integrated Robotics Manufacturing (CIM) Computer Aided Design (CAE) Flexible Manufacturing Systems (FMS) Computer Aided Engineering (CAE) E-commerce 3G/4G mobile communications M-commerce B2C
  53. 53. Ethics & CSR • Profit • People – internal & external customers • Place www.telstra.com.au/.webloc www.toyota.com.au/.webloc Magnificent Australian gr#C2668 www.ford.com.au/.webloc www.fostersgroup.com/.webloc
  54. 54. U4 Managing People and Change U4 AOS1 Human Resources (Employee/Industrial/Workplace Relations) U4 AOS2 Change
  55. 55. U4 AOS1 Human Resources Definition Factors involved in managing human resources Key phases of the employment cycle - Establishment - Maintenance - Termination Practices and process in employee relations
  56. 56. Factors involved in HR Relationship of HR to business objectives Employee expectations Theories of Motivation - Maslow - Hertzberg - Locke Ethics & CSR
  57. 57. Employee Expectations Employee vs Employer Fair pay The work done efficiently Meaningful work Reliable and punctual staff Safety at work Workers to follow policy (eg.OHS) Job security Workforce flexibility Work-life balance Productive workers Challenge and personal growth Skilled workers
  58. 58. Maslow Self Actualisation – fulfilment, developing true potential ((interesting jobs, creativity and self-development involved) Esteem – recognition of self and competence (responsible tasks, professional recognition, promotion) Social – belongingness (supportive management, opportunities for teamwork) Safety – security physical and emotional (job security, safe working conditions, freedom to unionise Basic Physical/physiological – food, water, air, shelter (sufficient pay for survival, satisfactory working conditions) www.lifehacker.com.au/.webloc
  59. 59. Hertzberg
  60. 60. Locke SMART goals
  61. 61. Employment Cycle Recruitment Resignation/Quit Selection Retrenchment Staffing Needs Redundancy Analysis Retiring Establishment Job Analysis Termination Terminating/Firing /Selection Job Evaluation Exit Interviews Job Description Financial Planning for Selection Criteria Superannuation Interview Counselling Referee Check Retraining for new job Testing – Outplacement biofeedback, IQ, EQ, psychological Maintenance Induction Training Careers Pathway Counselling Motivating Mentoring Relationship Building Team Building Performance Management Employee Relations Contracts 360‟ Review Negotiation with Unions Handling Conflict Succession Planning
  62. 62. Recruitment Process HR Panning Attracting Applicants Receive • Staff Needs Analysis •Selection Criteria Applications • Job Analysis/Evaluation •Job Advertisement •Job Applicant Pool • Job Design •Internal Recruitment • Job Description •External recruitment • Job Specification •Online Advertisements
  63. 63. Selection Process Select Interview Testing Applicants •Phone interview •Psychological •Screening •Face to Face •Medical •Shortlisting for •Interview Panel •IQ interview •Interview •Competency •Notifying of preparations •Situation based interview •Interview Questions •Background Check •Referee Check Job Offer or Rejection Letter
  64. 64. Employee Relations (IR) Relationship to business objectives Centralised vs decentralised approaches (laws) Awards, collective agreements, individual contracts Role of an HR Manager in employee relations Styles and skills and their application to resolving conflict
  65. 65. IR Laws Arbitration Act 1904 Industrial Relations Act 1986 – set up AIRC & Awards Workplace Relations Act 1996 – began ent. barg. Workplace Relations Amendment Act 2005 (Workchoices) – fully decentralised Fair Work Act 2009 – modern awards, better off overall test & FWA
  66. 66. Work Contracts Industry Awards Enterprise Bargaining Collective Agreements Individual Contracts Common Law Contracts
  67. 67. Industrial Action Stop work meetings Go Slow Work to Rule Strike Boycott Lock out
  68. 68. http://www.youtube.com/watch?src_vid=j_OyHUqIIOU&v=cNI-LIVs- to&annotation_id=annotation_974667&feature=iv http://www.youtube.com/watch?src_vid=8iQvZueIBrA&feature=iv&v =j_OyHUqIIOU&annotation_id=annotation_951962
  69. 69. U4 AOS2 Change Concept of Change Role of Leadership in Change Dynamic nature of business environments Impact of Change in internal environment Driving vs Restraining Forces Ethics and CSR Theories of Change Significant Change Issue Effective Change Management Strategies
  70. 70. Theories of Change Kotter Lewin Other?
  71. 71. Forces for Change DRIVING FORCES RESTRAINING FORCES •THE NEED FOR INNOVATION •ORGANISATION •FLATTER STRUCTURES INERTIA •RAPID GROWTH •ORGANISATIONAL INSECURITY •COMPETITIVE MARKETS •MANAGEMENT PROCRASTINATION •TREND TO OUTSOURCING •FINANCIAL COSTS OF RESOURCING CHANGE •TECHNOLOGY •PEOPLE‟S RESISTANCE •SOCIETY‟S ATTITUDES TO CHANGE •ONGOING IR LEGISLATION CHANGE
  72. 72. www.kotterinternational.com JP Kotter Establish a Sense of Urgency Form a Guiding Team Develop a Vision Communicate the Vision Empower Action Create Short Term Wins Persevere Institutionalise Change
  73. 73. From Businessballs.com
  74. 74. Kurt Lewin
  75. 75. Effective Change Management Strategies Change Agent Leader behaviours Participative style Management skills Use a Change Theory to guide Give warning Incremental changes Incentives, Recognition and Reward
  76. 76. Role of Leadership in Change Analyse, Diagnose, Plan action Communicate Role Model Involve others in decision making Empower others Encourage/motivate/inspire
  77. 77. Impact of Change in internal environment How change from outside can impact on: - Policies - Procedures - Corporate culture - HR – how people are dealt with and how they react - Operations – how things get done
  78. 78. Ethics and CSR (ESM) Definition Distinguish between Advantages and disadvantages for different stakeholders Case study example
  79. 79. Significant Change Issue Options include: Technology Globalisation Ethics and CSR Sustainability Privatisation, mergers and acquisitions Legislation Any other significant change issue
  80. 80. Exam Specifications 65 Marks!
  81. 81. Exam Strategy Plan how to get there Read Questions carefully Water Break questions up Exam kit Write across the lines Watch Write legibly Use reading time cleverly DO NOT BULLET POINT Plan your responses Check over at end for repetition and switches Check mark allocation Monitor time
  82. 82. Exam Technique State Library Videos Past exams, specifications and advice: YouTube VCAA Insight Student videos Neap A+ Revision pig
  83. 83. Revision Strategies Summarise your textbook Make podcasts Flashcards Remove distractions Build a glossary of Work together terminology Prac Exams Transfer information from text to diagrams Revise Outcomes Make posters Attend external lectures
  84. 84. busibods.ning.com
  85. 85. Give yourself your best chance of success Sleep Design your study area Eat Plan your study Exercise Set your goal Remove distractions Get support “You take care of You”
  86. 86. It‟s up to you! You are an Expert Student!
  87. 87. GOOD LUCK! Busibods.ning.com amandar@toorakc.vic.edu.au

Notizen

  • Ok that’s the most fun I could fit in today – but you didn’t book your tickets and drag yourself here on a weekend for fun! And “we don’t got no time to play around” So let’s get on with it. This is a revision lecture – there should be no surprises here – if you look at this stuff and think “yeah I already know that” then great! – That’s how it should be. If you feel like you have heard most of it before and you take notes on just the stuff you don’t know to fill in some gaps before the exam then terriffic! You’ve made sure you have covered every part of the course to prepare for the exam. And if everything I say today is news to you then …I’m glad you came – well done – you had no hope of passing without this session and good luck on your cramming it can be done but you’ll need to cancel your social life for the next month…are you up for it that’s the question. That’s up to you now – my job is to give you an overview of Units 3 and 4 Business Management. I’ll be using a standard PowerPoint, there’s a supplementary hand out of materials and lots of the documents can be found online on busibods.ning.com – a network I run – you’ll have to apply to join if you want to access digital copies of the hand out materials – but you are all welcome to do so. Ok.. so in the immortal words of MrMnM “let’s get down to business”
  • These are helpful – colour, pictures – you can draw those in the boring bits, for anyone who likes to graffiti in class – here you go – I’m giving you permission to scribble and your brain will recall the information more easily if you make links like these.
  • These are less helpful and harder to revise later – if you already know your page will look like these after half an hour then you better stick to writing on the hand out or the standard Cornell style note taking…
  • Cornell style notes – heading on left and summary notes on right and lots of people also add diagrams at the bottom. So get yourself organised – get out your highlighters for colour and here we go.
  • There are three main areas of study:U3 AOS 1 LSO’s in Context U3 AOS2 Internal EnvironmentU3 AOS 3 OperationsWe’ll look at each one in turn.I suggest you take notes only on the things that you find difficult or have not seen before. The hand out contains all the diagrams and slides I thought might be helpful as well as some templates for your revision notes. Do not try and write everything I say – unless you have a well practiced lecture style short hand note taking system, and some of you might I guess, you won’t be able to keep up. The best style of note taking for this lecture would be a concept map drawing of each of the areas of study – with colour and pictures – if you are familiar with what I am talking about go ahead and do that – if you are not here’s an example……………………………. But some of you will think that’s not cool to draw little kiddie memory cue pictures…so you stick to you what you are best at and what helps you the most. If you do need more time and I go to fast please just make the classic ‘T’ sign and I’ll pause.
  • This is the key knowledge from the study design in U3AOS1 LSO’s in Context. You should have covered all of these topics in class in some way. Read them now – are they familiar to you? Do you have a workbook of summary notes under all these headings? Can you recall diagrams for each of these headings? Do you have posters on your bedroom wall? Have you made flash cards? No? Oh well – lucky you are here then…Let’s go through them.
  • You have to be able to define what makes an organisation a large-scale organisation – LSOYou may remember the staffing categories from Year 11 BM – Micro – less than 5 staff, small 5 – 20 staff and medium up to 200 staff.You must use the word ‘substantial’ when talking about turnover and assets. And you must give an example to show what you mean by that word ‘substantial’. Any of these characteristics will indicate an LSO and remember – an organisation can have very few staff and a huge turnover and still be classified as ‘large’ eg. An internet based firm can make a huge turnover and be staffed by relatively few people.
  • For the graffiti artists who are really just drawing now – there you go some inspiration for you from Google. Google has 21 000 staff worldwide but only under 400 staff across Australia and New Zealand and so less than 200 in each of their regional offices – but turnover in total hit $1 billion in 2009 followed by a drop of $3 million in 2010. You can definitely use Google Australia as an example. Always put the ‘Australia’ after your LSO name though if it is a multi-national – the study design stipulates you need to use Australian examples. So do you want to have to research that yourself or did you write down those figures so you can memorise them for your example?21,000 staff worldwide400 staff across Australia and New Zealand$1 billion revenue (not profit) 2009Down $3 million in 2010Google Australia returns as a great example for Human resources later in the course so we’ll come back to it later.Got it?
  • Different types of organisation have different main reasons for being. Any kind of corporation (company) is focused on making profit. They may well have other objectives than this financial one – social objectives may include good corporate citizenship behaviours, but their core business is to make money – usually for shareholders. NFPs aim to serve and GBE’s have the dual focus of service plus profit. Have an example of each of these types of LSO ready.
  • You need to be clear that different types of LSO have different key main objectives – companies and GBE’s aim for profit – they may do other things as well but increased revenue is their main reason for being. And NFP ‘s and Government Organisations exist for service only – that’s why they might not run efficiently. A GBE is a corporatised Government Organisation and therefore aims for the dual objectives of profit and service.This SMART Principle surfaces again in the Locke Theory of Motivation – Goal setting – so it’s good to know.
  • Objectives have a standard format – ‘Do this, this much, by then’.
  • Make sure you can distinguish between goods and services.
  • Make sure you can distinguish between public and private sector.Put an example to each type:NFP – Salvation ArmyGO – DEECDGBE – Australia PostPrivate Company – Aussie DisposalsPublic Company – TelstraPPP - Citylink
  • Not to be confused with the difference between public and private companies. To find examples just Google their homepageegtelstra has a fast facts page – probably covering everything you will need. http://www.telstra.com.au/abouttelstra/company-overview/fast-facts/index.htm
  • There are various management functions – the overall categories of senior management, or they might be called ‘departments’. Different LSOs will have their own terms, but the standard ones to know are above.
  • Here’s Google June 2010 Job advertisements: They might have functions of ‘Creativity’ and ‘Green Business’ and use terms like ‘Googley’ – LSOs can adapt department names as they wish.
  • All LSOs contribute certain things to the Australian Economy. They are all providing some jobs within Australia – paying income to workers who then spend that money in our economy – although overseas online purchasing is on a steep increase – for the most part, at least the postal service is still Australian. All must pay the Australian government tax to operate here – and we are talking about a lot of money – company tax is set at 30% - so for Kraft Australia (American Owned that’s around 30% of $620 million, or for Cadbury 30% of about $935 million (now also owned by Kraft) that all adds up to major income for the Australian Tax Office. LSOs contribute to the value of all products and services produced in Australia in a year – for 2011 that = $1.23 trillion. We export to the world $210.7 billion worth of goods (butwealso import $200.4 billion = almost the same – that’swhatkeeps the global economymoving – all countries do this – weeven import thingslikebread – why?) Thesefiguresarereallyhard to getourheadsaround – theyaresuchvast sums of money – here’s a visualidea of howmuchmoneywearetalkingabout…http://www.pagetutor.com/trillion/index.htmlLSOsalsobuildinfrastructurelikeroads, bridges, train lines,watertreatmentplantsetc – whatevertheyneed to operatetheir business. One positive contribution is thatthisinfrastructure is oftenalsothere for the public to use, and if the LSO leaves the country – the infrastructurestays – that’s a goodthing for thirdworldcountrieswhichcan’tafford major projectslikethese.
  • Innovation is a major contribution – withoutpharmaceuticalcompanieswewouldn’thave many of the medicaltechnologieswe have today – there’salsoconspiracytheoriestwhosaythatthese same companiesareholding back discoveries to protecttheirownindustries –a fat disolvingpill for examplewoulddevastate the weightlossindustry – eatjenny Craig and go to Jenny Craig gym and pay Jenny Craig consultants – loseweight, stop paying for all that as youreturn to your habits – put weightback on – generally more weight and faster – eat Jenny Craig again. This would all be over ifyouactually lost yourweight for good by taking a pill. Anyway – whoknows – wewon’t find out until the companywantsus to.You have to alsoknow the negative effects on an economy – obviouslyyoucanreverse all these points – but youalso have to add:Depletion of naturalresourcesExploitation of workers
  • You need to have a good idea of what kinds of factors or pressures would be in the various business environments. Have a current example of each ready – even if it is only to use in a definition. Of course, you will need to study at least one if not two of these in detail to have a significant change issue ready for the 10 mark question. You have to be able to explain how the external environment force the internal environment to change. Such as a new law means the LSO will have to alter their internal procedures. More on that later. To distinguish between the various environment, use the level of control the LSO has – full in internal (like sacking poor workers), some in operating (like attracting more customers with a sale) and none in macro (like replanting the banana crop after a cyclone).
  • Performance indicators measure efficiency and effectiveness – although neither of these is itself a PI. There is an unlimited number of performance indicators because LSOs can make up any they like to refer to their particular situation. You don’t need to separate performance indicators into financial and non-financial – but if you can mention that then why not? What you DO need to do is indicate how something is measured. Eg Customer satisfaction is measured by the number of customer complaints or return customers indicated by loyalty card use. Product quality is measured by number of faulty goods returned or warrantees used.NB: A survey is a data collection tool and NOT a PI !!!
  • A stakeholder is anyone with a vested interest in the LSO – they care about what the LSO does. A shareholder is a stakeholder as they have invested their money and want to see a return on their investment – but not every stakeholder is a shareholder – make sure you don’t confuse those terms. Due to globalisation and the sheer size of these companies, we now need to include the global community as a stakeholder – what BP does to the Gulf of Mexico and how the oil slick moves on ocean currents and in sand sediment around the world.
  • AOS2 covers areas that are all in the internal environment of an LSO – that is anything going on within the organisation’s walls, as well as how their business activities affect people and places.Structures (team work/individual work)Corporate culture (ways people act in LSO)Key management roles (PLOC)Management styles (strict/casual/slack)Management skills (dif between manager and leader)Ethical management (doing the right thing as well as making a profit)
  • Allows a chain of commandSpan of controlDemonstrates responsibilities and accountabilitiesStandard Structure of LSO.Hierarchical/beauracracyAllows for various levels of management.Levels of risk increase and decrease with levels of responsibility.Vertical Specialisation = up and down (levels of management) and Horizontal = across (functions) such as workers in departments
  • This is probably like your school structure chart – Principal, Executive Team, Heads of Year, Heads of Subject, Tutors, Teachers etc.Advantages:Separates division of labour into clear sections.Allows for clear career paths.Clear official channels of communication.Disadvantages:Can create a narrow focus on your own section and lose the big picture.Conflict between sections.Empire Building – keeping resources & expertise (equipment/ideas) for themselves and not sharing.
  • Critical level is the divisions – could be geographic, customer or product/service based.Each division has its own set of functions.Advantages and disadvantages:Same as for functional except – can remove a whole division without affecting other divisions.
  • TEAM FOCUSEach worker has two bosses and is on two teamsAdvantages:Very flexible and can move workers around as projects arisePromotes big picture overviewPromotes team workEncourages collegialityInnovative/creativeDisadvantages:loss of unity of commandCan cause infighting and conflictWorkers can get off track without a clear leader
  • This is becoming most common type of structure due to improvements in communications technology.LSO outsources non core functions – any may be outsourced.Advantages:Autonomous functions – experts making own decisionsLSO can distance itself from issues with functions – like NIKE didLSO can focus on what it is good atLSO can hire and fire functions as needbeLSO can take advantage of globalisationDisadvantages:LSO can distance itself from unethical supplier behaviourFunctions can lack vision, leadership and managementEg Dick Smith Foods Australia
  • See the hand out page giving you a graphic organiser with which to revise CC. (fill it out?) Your definition should include the words ‘values and beliefs of the people in the organisation’. You need to be able to distinguish between official and unofficial and strong and weak. Remember a strong culture is not always a strict one. Have some examples of different cultures. The Australian Defence Force for an example of a strict, authoritarian culture and Microsoft Australia as an example of a culture which is more casual to inspire and allow creativity.
  • Whether original thinking is encouragedHow people address each otherThe traditions followed The way meetings are run and information is communicatedThe way people dress – is there a uniform?The overall approach of managers and leaders
  • These are some indicators of a healthy corporate culture. Kotter suggested a process for effectively changing corporate culture – you can access it through wikipedia – ‘organizational culture’.
  • Textbooks disagree about the time lengths for the three levels of planning and on some of the names – some call frontline operational – I prefer to steer clear of that term so as not to get confused with the environments diagram. You need to have which level of management does which level of planning and some actual activities they might do. It would also be good to have a corporate example of each of these kinds of planning, such as Kraft would have completed strategic planning before acquiring Cadbury in 2010, Cadbury Australia would have done tactical planning as the human resources department analysed any staff training needs after the buy out andFrontline supervisors would have alerted their workers to any new policies that came into place because of becoming part of the Kraft Group and then monitored their compliance.
  • We are on about ‘efficiency and effectiveness’! Be efficient and just learn this one process. The same process can be used for 3 areas – planning process, decision making process in skills and policy making process – it’s very similar check it out against your textbook and add in what you need to but basically it’s these six steps – don’t forget the final evaluation step and then the process starts again.Know the processSADIMSet objectivesAnalyse current situationSWOTDevelop alternativesImplementMonitor and evaluate or Know the processDefineOutlineDecideDevelopSelectEvaluate
  • Some examples of corporate leaders would be good to have – Who’s setting the example? Who is being innovative? Who is facilitating positive change? Leaders coach, encourage, inspire, motivate – managers administer, monitor, direct, oragnise. Be able to distinguish between the two.You may or may not have studied the types of power leaders may have:Expert - because of their knowledge base or skill setLegitimate – because of the status of their positionReferent – because of their charisma and personalityCoercive – because of threats and manipulationThe Karpin Report was done way back in 1995 and researched Australian Managers and what skills they needed to move into the 21st Century. It came up with a lack of people and soft skills. There have been revisions since then and the focus has now shifted to international mindedness, management of diversity and cross cultural skills to deal with globalisation. There is also a new emphasis on creative thinking and some authorities, like Daniel Pink, are claiming that a fine arts degree will soon be more highly sort after than a Business degree as the world’s manufacturing is being done by Asian countries and Countries like Australia must move well into the service industry, including the selling of ideas.
  • Use words like role modeling, leading by example, risk taking and visionary/big picture/forward or future thinking. Leading comes up again as a major component of Unit 4 in both managing human resources and effecting change – so you do need to have a good understanding of how to recognise a leader and the role leaders play in change.
  • Not about the manager being organisedIs about arranging the variety of resources and co-ordinating tasksEnd goal is to achieve objectives in an efficient and effective wayWill relate to a HR or Operations ManagerWhat will be managed?StaffMaterialsMeetingsMachinery and EquipmentTraining
  • Not about the manager having controlMonitoring actual performance compared to planned performanceUse of KPI’s to assess performanceEstablish some benchmarksMeasure actual performanceTake corrective action
  • Be able to distinguish between ‘policy’ – the documented philosophy, guidelines and rules and ‘procedure’ – the steps to implement the policy.(eg. Anti smoking policy – because we value the health of our workers no staff member is permitted smoke in our facilityProcedure - anyone caught smoking inside the building will be reprimanded.Use the same six step process already covered for planning – just add the impetus for the policy at the start – such as legislation (new laws)
  • Hand out material page for you to fill out.Use memory techniques to remember these kinds of lists.Make a sentence out of the first letter of each – achronym ‘APCPL’ – use swear words if you want – at least you’ll remember them!Use photos to help with recall – the brain remembers faces – take photos of your friends on your phoneUse muscle memory – ‘salute, come with me, what do you think?, heads down thumbs up, whatever’ It doesn’t matter if you do small movements in the exam to remember – whatever works!Ensure you can read a stimulus and work out which style would be most appropriate for that situation. You also need to be able to link which management styles are needed for each style and thus which skills a manager of that style is lacking and so needs training in.
  • So which styles are these? (Lollies)
  • Record an MP3 grab – lets do it together – put it to a suitable tune – whatever you like. What song do you think I could have used here? Guess – give out lolly. Do you hate that song? Good – you’ll remember it then!
  • You could have studied any of these – and more. You’ll need a good definition of at least 5. The only important thing is not to use any of the same coloured ones together – you will only be marked for one as they are too similar. I’d steer clear of leadership skills too – as you might get mixed up with the management roles. Also watch out for team building skills – it is not teamwork skills – this is the manager we are talking about and so they must be able to build the team. Don’t worry if you don’t know all of these or recognise some. Use the same kinds of creative tactics to memorise the ones you choose.
  • Teachers will be helpful too if you ask :)
  • It doesn’t take much effort to make slides like this – print them out and have them as posters around your room, on the outside of the shower – if your shower is glass, on the back of the toilet door – anywhere you will see them often – gradually the information will seep into your brain.
  • The moral standards and principles that guide people’s decision and actionsA concern for the condition of society at largeESM GuidelinesObey the law (bare minimum)Show respectDo no harmAct when you have responsibilityMelbourne Storm breaching salary caps – having two sets of booksOne Tel trading shares and seeking investment despite being insolventNAB traders using other peoples money to trade on the stock exchange over night and losing millionsAny mistreatment of workers – workplace bullying and cyber bullying, unsafe or demanding work practicesAnything resulting in misinformation to customers or unsafe products – like goodyear advertising their tyres use less fuelAnti-competitive behaviours like price fixing between VISSY and AmcorAny non-compliance with the law. Telstra now having to guarantee worker safety when working from home
  • LSO’s put into place various strategies to demonstrate ethics:LSO Code of EthicsEthics committeesBusiness or worker code of conductCustomer Commitment or CharterIndependent auditors (although how independent are they if they are paid to do the job by the LSO?)Workplace grievance proceduresLegal Compliance DepartmentThe regulatory bodies that monitor LSO’s include:ACCC – protecting customersASIC – monitoring compliance with the Trade Practices ActAPRA – monitoring the banking industryATO – tax office
  • Operations ManagementHow things are set up to be most efficientWhat can be done to increase effectiveness (achieving goals and objectives)The three key elements – inputs, throughputs and outputsHow operations gets the actual work of the organisation done – all other functions support this core business – productivity is the major performance indictor to measure operations (output per unit of input per person – per time unit). Operations is how an LSO becomes and remains competitive. Benchmarking against the standards set by competitors and meeting or exceeding those standards improves business competitiveness.Design and layout of LSOHow to manage materialsQuality Standards and ways to achieve themNew Technology and it’s impactEthics = the most responsible use of all available resources for production in a competitive and global environment.
  • Know definitions for the three elements and be able to identify each in a stimulus material case study. So if it is a car manufacturer you have component parts, assembly and car ready for sale. Ensure you can also relate this to a service industry – so cleaning equipment, cleaning, clean office. Go online and view some virtual company tours – there are loads try the Aim Manufacturing – a Stanford website – they put a whole lot together. Learn one in detail and be able to use the appropriate terminology to show you have learned it – like jelly beans are made with ‘corn syrup’ and one of the steps is ‘embossing’.
  • You may have looked at Operations from a Systems Approach – it doesn’t matter if you haven’t – just be aware of the three key elements.
  • Management needs to chose the type of layout for their production facility that most efficiently produces their good or allows them to deliver their service. The most common is an automated 24/7 assembly line mass production system where high volumes of standardised items are made – like bottling coke. Machines do all tasks and workers check and monitor efficiency and quality.A process layout can be recognised by workstations – different areas where tools of one kind are grouped together like all the ovens in one area, all the cake decorating tools in one area and all the ingredients are stored – to produce batches of goods that are similar but have different features – like custom made teddy bears or types of bakery goods. A hospital is a service example of a process layout – you have the reception area, the x ray area, the surgery theatres the wards etc.Fixed position layout is for large and luxury items that workers must go onsite to construct – like houses, bridges or airplanes.
  • Materials Management is about how these large organisations deal with the vast quantities of inputs they require. Like water – how much water do you think it takes to get one cup of take away coffee to a customer? (Lolly) 592 cups – grow beans, feed cows for milk, wash grinders and machinery etc. http://jscms.jrn.columbia.edu/cns/2009-04-14/engle-waterfootprint.html calculate your own water footprint at waterfootprint.org.Anyway – back to just in time. CUB in Abbotsford makes beer – another hugely water intensive product – 6 litres to make 1 litre of beer – JUST at the factory not before in the growing of the ingredients. Hopps comes from a plant and is perishable. CUB gets their hopps delivered 24 times a day in semi traillors. They deliver to a huge silo and the hopps are drawn from there into the production process. There is nowhere to store that amount of input – it has to be kept dry and free from rodents and birds. A highly coordinated system of Just in Time deliveries keeps the production process running smoothly – but what if there is a truck drivers strike? By domino process the whole system goes into downtime. So supply chain management is a key part of Operations.
  • Pull systems make the goods and then just put them out for anyone to buy – push systems require an order to be placed before supplies are sought. Caravans do not get made until an order comes in for a certain layout and colour palette – or custom made cars.ABC classification simply classifies inputs into the amount of care they need – perhaps refrigeration for perishables like foodstuffs, security for high value items like diamonds, or careful handling for toxic or hazardous materials like chemicals. You need to be able to define a materials management system (that means have an example ready), recognise which one would be appropriate to a case study given and know the advantages and disadvantages of the system.
  • The 3 types of Quality management are:Quality control = check and reject – this is where products are made and check at stages or after they have passed through the operations systemQuality assurance – meeting the standards set by an outside organisation at the inputs end of the operations process to ensure outputs are of a certain standard – this cuts down on defects as wasteTQM – originally and American idea then the Japanese picked it up and now the show the world how it is done. Continuous improvement through every worker taking responsibility for small incremental improvements all the time. This system has a strong emphasis on responding to customer feedback as one of the inputs into the operations process. The Toyota Motor Corporation Australia is renown for their TQM systems known as ‘the Toyota Way’.
  • You should know a few different kinds of technology – not necessarily all of these – but you may need to define some of them or suggest them as options for a case study so best to look over them all. For corporate examples check virtual tours online of the operations systems- if you are stuck just use a car manufacturer – they have all kinds of computer design, robotic assembly lines and virtual crashing technologies.For service examples go with shopping – digital screens on trolleys, mobile phone apps for shopping lists, self check outs and online ordering and delivery services – all are good examples of technologies changing the way supermarkets operate and they are all part of your everyday life experience. Remember in business you can draw on your own knowledge or work experience and as long as your answer is appropriate for the specific question – it doesn’t have to be found in any of the textbooks. So it’s actually really easy to give examples for everything – so why wouldn’t you?
  • Ethics & CSR weaves throughout every AOS and you need concrete examples of what LSOs have done wrong and right. Triple bottom line accounting is now expected by the modern, educated consumer – who is willing to boycott a company and more than happy to Facebook, IM and tweet to millions of people about poor corporate citizenship. Look for examples of environmental degradation, pollution, natural resource depletion, exploitation of workers, unsafe practices, wasteful operations and negative impacts on third world countries. Don’t forget pollution in the air of India does eventually make it’s way around the globe on wind currents. Plastics in ocean make their way to the north pacific gyre – a swirling mass of small plastic pellets form broken up plastic rubbish in the sea being eaten by birds and fish with no hope of biodegrading further. Oil spills are taken from coast to coast on the waves – in a globalised world these unethical operations affect all of us.
  • Ok Unit 4. This draws on lots of the terminology and concepts from Unit 3 and so will take less time to go through – especially the AOS on Change as this is almost totally a revision of earlier studies – just with more added detail.
  • Human Resource Management - Key role – have the right people with the right skills in the right place at the right timeThe role of an HRM and how their job has changed over time from one focused on administrative tasks like the payroll and leave – to now focusing on building relationships with the LSOs most important asset – peopleExpectations of staff and motivationThe employment cycle – recruitment/interviewsTraining - keeping staff motivated and satisfiedEmployment packagesTerminationEmployee relations (industrial action)How to develop good relationships with staff
  • Under the topic of Human resources, you need to be able to outline the role of an HR Manager, be able to identify actual activities they do and link these to overall business objectives and some strategies to achieve those objectives. For instance, if an LSO is expanding overseas, an HRM would need to look at staff planning, recruiting for the new facility and also training existing staff for their new roles after expansion.The difference between what workers expect and what employers expect from the working relationship needs to be considered. Just a tip – a VERY common mistake is for a student to mix up employer and employee on an exam response. If you have messy writing, if you have done this during the year or if you think there is even a chance of you doing this DON’T USE THE WORD EMPLOYEE! Just stop right now! Instead, use the word ‘Worker’. Read the exam questions carefully! – look for endings of words like these and check your response over near the end of the exam time to double check you have not switched around terms like these. You will get no marks even if your answer was perfect except for the switch.Back to this AOS – You should know of and be able to apply the three theories of motivation from the study design – Maslow, Hertzberg and Locke. And, as usual, ethics and CSR in the area of human resources comes up again.
  • The number one objective of a corporation is to make money and the number one objective of a NFP is to provide a service – both require committed, reliable, skilled and motivated staff to do that. The LSO has to put into place strategies to get the best out of their workforce. To do this they have to be aware of and meet employee expectations and they may well consider using accepted theories of motivation.
  • Staff begin at the bottom level and work their way up just one level at a time. If a need is met then they need to look to the next level for motivation. A manager must figure out what level their workers are at to be able to maintain motivating strategies. Eg. If workers are poor and only concerned with earning money, offering them personal growth seminars will not make them work harder. If workers are well paid and stable in their positions, the next step would be to encourage collegiality and team activities to build a sense of belonging and community. Can you look at a case study and say what level the workers appear to be on and what a manager could therefore do to motivate those workers? Here’s how Google helps to encourage motivation and creativity in their workers. This also takes us back to indicators of corporate culture.
  • Hertzberg was a follower of Maslow but he split the pyramid in two – internal and external factors that motivate for the long or short term.
  • And Locke’s Goal Setting Theory = very simple – set some goals, work towards them, achieve them, set some more. This takes us back to the SMART principle from earlier. Achievement of defined goalsShould be challenging but attainableShould includeParticipation by workersGuidance and advice from managementFeedback on performance
  • There are loads of management sites which cover management theories and this is one of them – the name is not my fault! It does have lots of useful stuff for this course – check it out.
  • You need to be able to define all of these terms and place them at the appropriate stage of the employment cycle. Everything to do with planning for, finding and hiring staff. Then everything to do with developing and retaining staff. And finally, everything to do with ending the working relationship – no matter which party decides to do that. You might have done some role playing in class around areas of this topic, in particular the recruitment process, interviewing and employee relations negotiations on work contracts. Be able to contrastRecruitment and selectionTraining and development
  • Remember, unlike in Units 1 & 2 BM – you are the manager – so when we are referring to Interview techniques – it’s not about answering the questions – it’s about setting up the environment appropriately and then asking them.Background check could refer to a criminal record check for certain professions like teaching – or it could mean checking out the interviewee’s online digital footprint – what evidence of there of their capabilities? What photos are there of them online? What sort of friends do they have on facebook? Don’t think that’s not happening to you because it is! Watch out – anything you put online now can be moved around somewhere else at the click of a mouse – present yourself to the world professionally – how you want to be seen – and be careful of others tagging you in photos – remove those that don’t fit your desired image. Do your own PR here and expect prospective employers to do their homework on you too.
  • Arguably the most boring part of the course – but the most relevant to you as workers and you as managers trying to avoid and resolve worker conflict – which does and will happen.How can you recognise effective or poor employee relations? Use some of the earlier studied performance indicators – staff turnover, staff morale, productivity, number of industrial actions, time lost due to industrial action etc.How can a manager encourage good workplace relations? Use some of the earlier covered management styles and skills – be participative and inclusive, practice effective communication etc.How have the applicable laws changed over time? The 5 main laws you could cover here are on the next slide.And what are the various kinds of formal work contracts that may be applied?
  • You may or may not have studied these in detail – but you need to be aware of how the balance of power has switched between the employer and the employee over time in Australia. Beginning before 1904 with all power to the employer and little worker protection, the courts stepping in to mediate disputes, the Industrial Relations Act setting up a specialised body to resolve conflicts and set industry wide award wages as a safety net for workers with minimum wages and conditions, then the Liberal Party move towards decentralising working condition negotiations by employees individually (AWA’s) or in groups bargaining with their employer and now the switch back to a modernised awards system under the Labour Party government. Focusing on decentralised enterprise bargaining but also moving us back to a centralised system as Fair Work Australia takes on the central overseeing role.
  • Work contracts set out the working conditions of employment like rates of pay, hours of work, leave entitlements and grievance procedures. These are the various kinds of work contracts that Australia has had over time. In the 1980’s Industry wide Awards protected young and inexperienced workers by ensuring everyone working in the same industry got paid the same, however, LSO’s could not vary conditions according to their own needs or base pay on productivity. In the 1990’s enterprise bargaining focused on negotiating collectively in groups, through unions or individually and catering contracts to individual work sites. Then the very specific and union free Australia Workplace Agreements were encouraged, but not widely accepted as they required individual negotiation with employers. Now we have a modernised system of awards and, as always, workers are free to make common law contracts themselves with their employer – although this option is generally only used by senior and highly paid executives.
  • You need to be able to define the various kinds of industrial action and suggest how managers might avoid these types of action as all disrupt productivity. Know the terms ‘Union’ – a group representing workers and ‘Shop Steward’ – the union representative at the workplace. In October 2011, Qantas at pains to say it was not a lockout when their Melbourne Airport ground staff workers turned up to find contingency staff already doing their jobs for them so they could go on strike and operations could continue.
  • Brain Break The exam is two hours long – you will need to be able to concentrate for that period of time – but this is NOT an exam so we can be a bit more relaxed. Your study sessions should be less than an hour without rest or your brain will switch off – let’s take a brain break. Have you seen this…?
  • Yay! We’ve reached the last area of study: The Management of ChangeChange theories - ways of doing it wellLeading change and inspiring othersInternal impacts of change on staff (insecurity about job, stress, excitement)Issues in change management (globalisation/following the law/environmental responsibilities)
  • You may have done other theories – such as Egan – but Kotter is the one you must know well. These theories are frameworks to guide managers through a change with the aim of making change effectively and smoothly.
  • This diagram was designed by Lewin. Driving forces encourage change and restraining forces hinder or prevent change. More of one than the other will impact on an organisation’s ability to make a smooth change transition.You have to be able to distinguish between driving and restraining forces for change and give examples of each.
  • Websites on general business management like this one have lots of graphic organisers to help you set up your information on posters.
  • The 8 step change process outlined by Kotter acts as a framework for managers to follow when implementing change. It ensures they don't miss a key step that assists workers through the change process.Different texts will use different wording for these steps – just have a good idea of what activity happens next. If you want to know exactly what this is all about – go check out the guy himself at kotterinternational.com – it’s all explained there. You need to be able to link these steps to a change – have your own example ready. Use actual names of people or position titles: “the BOD of Telstra would have alerted staff to the upcoming plan to float Telstra shares for private purchase – they might have done this at an executive staff meeting.” etc. DO NOT JUST LIST THE STEPS! Most importantly – again – make sure you answer the actual question asked.
  • Lewin came up with the forcefield diagram and this freezing metaphor for change.
  • Participative style is not always possible due to time constraints, but it is the style that most involves and informs workers and therefore most encourages worker ‘buy in’. Staff feel like they are a part of the change, valued at the organisation and so are more committed to achieving the change. Management skills are also relevant here – communication of course and negotiation, delegation, time management to meet deadlines, stress management as workers go through a change to their routine and expectations, and finally team building can all be related.
  •  Although these topics very much cross over and it won’t matter too much if you use either word – if pushed - can you distinguish between these two terms? We know that they are about legal compliance, going over and above legal obligations, caring for internal customers (staff) and external customers, community and the planet – but they key way to differentiate is that ethics generally refers to internal issues and decision making such as whether to use fair trade suppliers or whether to recycle paper. CSR often refers principally to external considerations to the business such as allowing workers days off to volunteer in the community, sponsoring local events and school and planting trees to return habitat to pre-business activity state. Depending on the question in the exam – you must be able to relate ESM issues to their affect on various parties – why is it good for an LSO to do this stuff? What does it cost them? Why do these issues affect workers, suppliers, competitors, third world countries, customers?  And of course you will need a detailed case study example if you are to choose this topic for your 10 mark Change response. You can prepare all things to do with this now – BUT you MUST make sure you answer the actual question asked on the day.
  • So here’s your choices of appropriate significant change issues to have a detailed prepared example for – this will definitely be the 10 mark question on the exam. We can’t go through all these in detail now but you will need to be able to at least define each one of these and have detail on I’d say two just in case – my students do three because we cover at least three of these during the year in class – you probably have too if you look back through your notes – there should be a need for much research really to prepare your response.For each topic you will need as per the ESM list before:DefinitionAdvantages and disadvantages for various stakeholdersImpacts on business competiveness and productivityA recent (within last 5 years) Australian corporate example.Practice 10 mark questions are a little hard to find but they are all formulated fairly similarly and that should cover all eventualities.You can use the same companies you’ve been looking at all year:* Technology – Ford, Woolworths. Aust Post* Globalisation – any multi-national, Qantas Malaysian mechanics, Pacific Brands Asian Textiles factories* Ethics and CSR – Vissy and Amcor – on both good and bad aspects of the topic, Cadbury fairtrade chocolate* Sustainability – Local food production and supply to supermarkets* Privatisation, mergers and acquisitions – Telstra, Kraft buying Cadbury, CitylinkLegislation – OHS, EO, IR laws – carbon taxOR you can use any other significant issue – which basically means anything from the macro-environment could be appropriate.
  • Hydrate – even a mouthful can help your brainYour exam kit should include three pens, highlighters, watch, peppermints, jumper – no liquid paper – one line through mistakesGet a junky watch as you can’t use a phoneReading time – look for questions that use the case study, need examples, look for things you know – answer those first. Any stimulus material is likely to be short – but use it for everything you can, look for answers within the examMarks – tell you how many points you have to make – don’t waste time doing extra – they won’t be markedDevote less than 2 minutes to each mark – don’t check too much but spend a reasonable time on each and quickly scribble terminology down to finish and move on – 2 points unanswered may not be worth missing out on 5 further on if you run out of time.READ QUESTIONS CAREFULLY! This is a major area for mistakes. Don’t just write everything you now about a topic – answer the actual question and particular task word.Break questions up – have a system – highlighting everything in orange won’t work. Use colours or circles, underlines, slash at any further part of question etc. Ensure you have task word, topic, any numbers, any question parts, any terms to define and whether you need to refer to case study or give an example
  • Leave the left column to plan, under the question, and write all the way across the page – don’t use stars, over the page, smiley faces etc – you need to make it easy for the assessor to followAlso make it easy to read – you cannot be awarded marks for answers that cannot be read. Don’t worry about hiding your poor spelling – make it easy. Make it obvious where you have used terminology, answer the question in the order it was asked, be methodical.Bullet point lists will get you ONE MARK! Just one – DO NOT LIST – no stars, numbers, dashes, smiley faces – NOTHINGYou will probably be writing solidly for the whole exam time – but try to leave 5 minutes at the end to check over your work. You’ve been told to do this for years – really do it! Read your answers in your head – do they make sense? Look for repetition – you will NOT be asked the same question twice – that will be an error! Even when you may be able to repeat a response you should attempt to use a different one to show how much you know – you should create the impression that you have way to much business knowledge to put down on this little paper. And definitely look for word switches – where you swap things around like centralised and decentralised or official and unofficial corporate culture – there is nothing sadder than a perfect distinguish between response but with the words swapped around – look for this mistake as it is very common
  • Past exams and examiners advice can be found on the VCAA website – it’s a good idea to check this out to see what the expectations are and the actual average marks for questions – you may be surprised. Of course you can buy practice exam, but your teacher will most likely provide you with a few – study these carefully – questions are often very similar.There’s lots of stuff online about revision – youtube is pretty helpful when you are on a study break – instead of the ‘lol cats‘ or the ‘slow mo guys’ – check out the revision and study tips from students around the world – they are probably s’posed to be studying too but have decided instead to make a video in their bedroom – some are quite amusing.
  • You will all have different textbooks and all of those books are your first stop. Under each topic – or area of study if you prefer, summarisethe key points, key terms and applicable examples (see revision workbook format hand out)Summarise your workbook notes down to study flash cards – can get commercial ones (Jacaranda) – great for making use of travel time on bus or train, great for getting others to test you when they know nothing about the subject. Best to make your own so you learn as you make them.Glossary – personal dictionary of common terms. Top 100 Terms including definition, advantages and disadvantages, example, (see revision glossary format hand out)You already know these techniques – or you have at least heard of them ! Use what works for you.
  • Graphic Organisers can be found easily on the web – use them to make posters – this one if for Year 11 but you get the point. This website also allows you to make quiz video games where you blow up if you get the answer wrong – don’t waste time here though!
  • This is a super helpful website you should all look at – it has the only online Australian dictionary for this subject I can find – there are lost of British and American ones but some of their terminology is different.
  • And this is my Ning – just request to join if you want to access student resources.
  • You can also chat and help each other to learn collaboratively – access my students online and, honestly, this chat function will most likely circumvent your school’s net nanny – so why wouldn’t you join?..mind you if you chat or post inappropriately I’ll just block your butt.
  • Brain research suggests sleep is vital – get into a good pattern:don’t sleep with your phone screen time off an hour before sleep have a routine before bed to get your body readyrevise just before sleep with written notes only or audio podcasts. Diet is crucial to get the best performance you can out of your body. Now is NOT the time to start a new diet regime – especially not a low fat one and if you have been restricting yourself over the year pick up your fat intake for this period – you will have loads of time to deal with your weight later – this is about brain function. Brain foods are what you need. High vitamin and high protein foods like blueberries – or any highly coloured berries, lean meat, broccoli, fish, tomatoes, beans, bananas, yoghurt, olive oil, wholemeal bread, WATER. Early exams mean a good breakfast (BM is in the afternoon) no Maccas for lunch, no Christmas dinner style overeating and no high fat or sugar rushes – because you will be sleepy or experience a low after the initial sugar high. Watch out for caffeine and energy/guarana drinks. A small amount of caffeine DOES focus your brain and give you stamina – but how much? If you overdo it you will dive in a crash – can you judge the right amount? If so good but if not don’t go near it. Have low GI foods instead so they release energy slowly over a sustained period. BUT IF you are addicted to coke, coffee, energy drinks or chocolate – now is not the time to go cold turkey – just have it as normal – you know yourself – do what you have to do. Also if you really have been up all night or your pet dies or some other traumatic experience then YES an energy drink is a great idea. 
  • Continue on with any regular exercise, use a walk as a break from revision and a reward for effort – don’t use chocolate! Every time you are tempted to go for the fridge, head outside instead, play the WII for 10 minutes or do a chore you know you have to get done. Just move around and get some oxygen. DO NOT watch TV or get sucked into the Facebook vortex – passive screen time will change your brain waves – TV Tiredness/apathy/lethargy will result. Save that for when a full study day is finished - or for the day after your exam – some of my students get their parents to change their Facebook password for the study period. Remove distractions – you cannot really expect your brain to deal with more than two things at once – and you should only focus on ONE thing if you are learning information for the first time. If revision and reformatting information such as from text to a diagram – you can probably get away with music on. If you normally study with music really ask yourself – is that system working the best it can? Are your results the best they can be? If ‘Yes’ then fine – stick with it. If ‘No’ then perhaps it’s time to admit that multi-tasking is fine for repetitive tasks like washing the car – but getting information into your brain honestly is another matter. Trust what teachers have been telling you – maybe slow beat music at best but give yourself the best chance of success and detach from the Ipod. Switch phones off! What is gong to happen? Will the stockmarket crash and your broker won’t be able to get hold of you? Will some friendship crisis occur where you’re the only one with the skills to calm some kind of emergency? If you answered yes to that you really do need to switch off your phone because this is not the time to be drawn into the dramas of other people – you have to focus on yourself. Don’t get into a texting tennis match – ”what are you doing? WB Studying! :( Me too!;) That sux!xxx I know lol” This is obvious stuff that you don’t need to waste your time or energy on. Be especially careful of text starting with OMG!... Or Did you know?...Often this will be rumour or gossip and completing irrelevant to you and possibly will turn out later to be totally untrue. Disrupting your train of thought does damage your ability to recall the information later. Check your phone in study breaks – then turn it off – not ‘mosquito tone’ that can still interrupt you – OFF! Leave it charging in another room if you have to – break free from your phone! Set yourself up in a light, comfortable, right height, tidy and clean study area. NOT YOUR BED OR BEDROOM FLOOR. Not the kitchen table as it’s an area of high traffic. Find a corner and ask your family and any cleaners not to touch whatever you leave on the desk – you should be able to return and pick up where you left off without wasting time finding things. Do not eat food at this desk – take a break for that. Just study. Put up an exam day countdown, tick off the days you study. Put up any revision diagrams or glossary terms you need to learn and your study planner.
  • A study planner is just a timetable of when you will devote to what subjects – you need to plan this now – especially if you have exams close together. You have to devote sufficient time to each of your subjects – and focus more time on those that you find difficult. You may well not stick to this plan, but at least you’ll know clearly what you have missed and have to catch up on later. Factor in regular commitments like work or sport – although for this short period in your life you really should be focusing on your main work – that of doing well in your exams to complete your education. This is the end of 13 years at school for you – finish as best you can. You can pick up work shifts after the exams in the busy Christmas period, you can celebrate with friends who finish their exams before you do AFTER you’ve finished. Cut back on parties and for goodness sake if you have a needy friend or partner – someone who you love dearly but they are high maintenance – cut back on them too. If they care for you they will understand and you can arrange something special after your exams. – promise them a present – anything just don’t let them demand your time or distract you from your goal. Have your goal in writing above your desk so you, and others, can see it everyday – Put up the score you want to achieve – the person you are doing all this work for - or if you just want to survive the whole experience write that up. Have a message in front of you and in the front of your mind – ‘this is why I am studying this boring stuff’ – ‘this is why I am missing the beach party’ – it will keep you motivated. Enlist support from your family. Some of your parents have worked hard to send you to an expensive school, some haven’t but it still cost them a lot of money they could have spent on themselves, some of you will have huge pressure to perform from your families and some of you will have families who don’t know anything about what your doing. They want to help you - even if they don’t you’ll have more chance of them understanding what you need if you communicate with them. Put up a copy of your study planner on the fridge – go through it with everyone at dinner. Ask not to be disturbed at certain times – that includes not being called for phone calls that come in. Let them see you following your study planner. If you show you are committed you will get support. Maybe you’ll even be let off chores around the house? Tell them how they can help you – they want to know. If you don’t tell them then don’t expect them to magically know what you need – you will be on your own and have to make your own hot chocolate!
  • You are an expert student – you will never have more knowledge about being a student than you do right now – use that knowledge – you know what you have to do to prepare – just do it. For a lot of you, this is the part that counts the most – your final score. Even if you have mucked up during the year you can still pick up your mark with this heavily weighted exam. Whether you like it or not you will carry around this score with you and you need it for tertiary entrance and to give yourself as many opportunities and choices as you can for the future. You want to be spoiled for choice when the offer rounds begin. Not everyone here is going to excel in the business exam, some of you will be here looking for anything you don’t already know, and others are here to be told all the answers because you lost the texbook in March and have wagged most Business classes in sick bay. Only a few of you will get 50 – but all of you should come out of the exam confident that you really have done your best and that means thorough preparation now. Take this opportunity, give yourself the best chance of success, finish with a bang and JUST DO IT! 
  • You are welcome to join my Ning network to download free resources and connect with other students and teachers.
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