g n o r t s m r y A e sl y- r r o r H Te Mike asha dle ulas per NaItan Biodbert aM m Hanrderson R h A B a Gr nja o S U S I N E S C S S H F O C U S Sydney, Melbourne, Brisbane, Perth, Adelaide and associated companies around the world Pearson Australia (a division of Pearson Australia Group Pty Ltd) 20 Thackray Road, Port Melbourne, Victoria 3207 PO Box 460, Port Melbourne, Victoria 3207 www.pearson.com.au Sydney, Melbourne, Brisbane, Perth, Adelaide and associated companies around the world Copyright © Pearson Australia 2011 (a division of Pearson Australia Group Pty Ltd) First published 2011 by Pearson Australia 2014 2013 2012 2011 10 9 8 7 6 5 4 3 2 1 Reproduction and communication for educational purposes The Australian Copyright Act 1968 (the Act) allows a maximum of one chapter or 10% of the pages of this work, whichever is the greater, to be reproduced and/or communicated by any educational institution for its educational purposes provided that that educational institution (or the body that administers it) has given a remuneration notice to Copyright Agency Limited (CAL) under the Act. For details of the CAL licence for educational institutions contact Copyright Agency Limited (www.copyright.com.au). Reproduction and communication for other purposes Except as permitted under the Act (for example any fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All enquiries should be made to the publisher at the address above. This book is not to be treated as a blackline master; that is, any photocopying beyond fair dealing requires prior written permission. Publisher: Rachel Ford Editor: Marcia Bascombe Designer: Nikola Kyle Copyright & Pictures Editor: Suzy Freeman Project Editor: Lauren Smith Cover art: Corbis / Kristopher Grunert Printed in China National Library of Australia Cataloguing-in-Publication entry Title: Business Focus HSC / Mike Horsley ... [et al.] ISBN: 9781442529069 (pbk.) Notes: Includes index. Target Audience: For secondary school age. Subjects: Business education--New South Wales--Textbooks. Business--New South Wales--Textbooks. Other Authors/Contributors: Horsley, Mike. Dewey Number: 650 Pearson Australia Group Pty Ltd ABN 40 004 245 943 Disclaimer The selection of internet addresses (URLs) provided for this book was valid at the time of publication and was chosen as being appropriate for use as a secondary education research tool. However, due to the dynamic nature of the internet, some addresses may have changed, may have ceased to exist since publication, or may inadvertently link to sites with content that could be considered offensive or inappropriate. While the authors and publisher regret any inconvenience this may cause readers, no responsibility for any such changes or unforeseeable errors can be accepted by either the authors or the publisher. Some of the images used in Business Focus HSC might have associations with deceased Indigenous Australians. Please be aware that these images might cause sadness or distress in Aboriginal or Torres Strait Islander communities. The publisher would like to thank Carmen Beaton, Nathan Beaton, Debra Black, Saroja Dass, Kathy Krajac, Kate Kempthorn, Graham Petit and Bassam Saddik for their input and contribution to this series. Acknowledgements The publisher’s and authors would like to thank the following for their contribution to Heinemann Business Studies Preliminary: Earle Barker, Brad Greene, Andrew Watson and Graham Harper. We would also like to thank the following for permission to reproduce copyright material. The following abbreviations are used in this list: t = top, b = bottom, l = left, r = right, c = centre. AAP, Australian Associated Press: ‘Pac Brands sees earnings growth in FY11, 10th factory to close’ by Alison Bell, 24 February 2010, pp. 64–5; AAP, Australian Associated Press: ‘Gale, Hawkins in swimwear battle’ by Catherine Caines, 29 June 2010, pp. 141–142; AAP, Australian Associated Press: ‘Oprah effect continues in NSW’ by Danielle McGrane, 24 January 2011, p. 136; AAP, Australian Associated Press: ‘Intrepid turns 21, plans share fl oat’ by Xavier La Canna, 7 September 2010, p. 181; AAP, Australian Associated Press: ‘Former execs plead not guilty to alleged $30 million scam’ by Danny Rose, 14 September 2007, p. 233; AAP Image: Paul Miller, p. 65; Tracey Nearmy, pp. 135, 136; Torsten Blackwood, pp. 141, 170; William West, p. 173; ABC, Australian Broadcasting Corporation: ‘Fact Buster: Does organic food contain more nutrients than non-organic food?’, Rosemary Stanton interviewed by Sue Jackson, fi rst published by ABC Health & Wellbeing ABC Online, 7 July 2010, is reproduced by permission of the Australian Broadcasting Corporation and ABC Online, pp. 54–55; ABC, Australian Broadcasting Corporation: ‘Bankrolling Oprah: the new tourist strategy’ by Chris Berg, fi rst published by Unleashed, 21 September 2010, reproduced by permission of the Australian Broadcasting Corporation and ABC Online, p. 135; ABC, Australian Broadcasting Corporation: ‘Retaining staff “not rocket science”’, fi rst published by ABC Online, 6 August 2008, is reproduced by permission of the Australian Broadcasting Corporation and ABC Online, pp. 294–295; ABS, Australian Bureau of Statistics: © Commonwealth of Australia, ABS Labour Force, Australia, Detailed, Quarterly (6291.0.55.003), p. 268; ABS, Australian Bureau of Statistics: © Commonwealth of Australia, Regional Population Growth, Australia (3218.0), p. 270; ABS, Australian Bureau of Statistics: © Commonwealth of Australia, Labour Force Survey, Australian Social Trends, 1997 (4102.0), p. 271; ABFC, Australian Business Funding Centre: ‘Sydney Swimwear manufacturer uses $2m savings in import duties to lower overall costs’, p.143; ACCC, Australian Competition and Consumer Commission: © Commonwealth of Australia, p. 89; AFP, Agence France Presse: ‘Vodka tasters take job seriously’, 26 July 2010, p.56–57; Alamy Ltd: pp. 269, 272, 307, 314, 316; Michael Peuckert, p. 51; RIA Novosti, p. 56; Fredrik Renander, p. 60; Hugh Threlfall, p. 108; Martin Lee, p. 117; Amcor Limited: pp. 18–19, 22–24, 161–162, 165–166, 168, 190, 196, 202–203; ASIC, Australian Securities and Investment Commission: pp. 174–175, 203–205; Austrade, Australian Trade Commission: p. 139; ‘Whether its Bikinis or Budgie- Smugglers - Australian beachwear exports are going swimmingly’ by Tim Harcourt, 23 March 2009, p. 140; The Australian Financial Review: ‘Back-pay awarded to shop worker’ by Mark Skulley, 8 September 2010, pp. 258–259; The Australian Financial Review: Long, S., 24–25 October 1999, p. 288; BFA, Biological Farmers of Australia, Australian Certifi ed Organic: p. 54t; Brand Australia: p. 113; Business Spectator, www.businessspectator.com.au: ‘Burying bogan Australia’ by Melinda Varley, 20 May 2010, p. 113; Cadbury Australia & New Zealand: p. 119; CartoonStock Ltd: p. 310; CEO Forum Group: ‘Passion and performance’, Brett Godfrey interviewed by Mike Riddiford, p. 307; Coca-Cola Amatil - CCA: p. 79; Corbis Australia Pty Ltd: Rune Hellestad, p. 84; Dreamstime: pp. 1, 15, 38, 48, 53, 132, 222, 309, 312; Dulux: p. 44; Dynamic Business: ‘Virgin Blue abandons New Zealand’ by David Olsen, 16 August 2010, pp. 16–17; Dynamic Business: ‘Gloria Jeans engages Gen Y workers’ by Jessica Stanic, 15 July 2009, pp. 269–270; Energy Australia: p. 274; ‘EnergyAustralia Tops Corporate Responsibility Index’, pp. 273–274; Entrepeneur, www.entrepeneur.com: ‘Failed businesses in Japan: a study of how different companies have failed, and tips on how to succeed, in the Japanese market’ by Greg Lane, Sept–Oct 2007, p. 132; Fairfax Media: MyCareer, p. 289r; Fairfax Photo Sales: Eddie Jim, p. 116; Ben Rushton, p. 298; Fair Work Australia: pp. 253, 301; Getty Images: 13, 52, 206, 285b; Mark Ralston, p. 6; Chip Somodevilla, p. 285tr; Torsten Blackwood, p. 285tl; Brendan Hoffman, p. 318; AFP, p. 322; GM Holden Ltd: p. 95; Google, www.google.com/intl/gn/jobs/ lifeatgoogle/index.html: pp. 322-324; Great Place to Work Institute Australia: p. 294; Harvard Business Review: ‘The new market segments’ by Sean Silverthorne, 27 March 2009, p. 98; Lane, Greg: ‘Failed businesses in Japan: a study of how different companies have failed, and tips on how to succeed, in the Japanese market’, Sept–Oct 2007, p. 132; LexisNexis, HR Leader: ‘Fighting Fit at Rio Tinto’ by Sarah O’Carroll, 16 July 2010, p.260–262; LexisNexis, HR Leader: ‘Magic in the workplace - how Pixar and Disney unleash the creative talent of their workforce’ by Sarah O’Carroll, 18 March 2010, pp. 312–315; LexisNexis, HR Leader: ‘Growing the Google talent machine’ by Dr. John Sullivan, 14 September 2010, pp.319–321; MLA, Meat and Livestock Australia: p. 77; NASAA, National Association for Sustainable Agriculture, Australia: p. 54b; News Limited: ‘Anger brews on Collinsville mine picket line’ by John Anderson, Townsville Bulletin, 29 July 2010, pp.302–303; News Limited: ‘Daniel Wilkie acquitted in second FAI fraud case’ by Andrew Main, The Australian, 14 October 2008, p. 233–234; News Limited: ‘Unravelling the truth of ABC’s collapse’ by Liam Walsh, 12 April 2010, p. 207; News Limited Images (Newspix): Dean Marzolla, p. 124; Bob Finlayson, p. 143; Jeff Camden, p. 207; Jon Hargest, p. 253; Sarah Marshall, pp. 302, 303; Niche Media, MarketingMag.com.au: ‘Viral online sporting brand campaigns: real or fake?’ by Matty Soccio, pp. 120–121; Niche Media, MarketingMag.com.au: ‘Go in-store for greater shopping impact’ by The Newshound, p.123; Nike Inc: p. 14; Pearson Australia: Alice McBroom, pp. 78, 99, 157, 262, 269l, 273t, 273b; Peregrine Adventures: p. 106; Photolibrary Pty Ltd: Peter Menzel, p. 48; Reuters: ‘Kate Moss lashed for false ads’, 3 October 2007, p. 84; Rio Tinto Limited: Logo supplied with courtesy of Rio Tinto, p. 260; RTA, Roads and Traffi c Authority (NSW): Matt Hoyle, p. 119; Reproduced with permission. Selador Wines: ‘The impact of the Global Financial Crisis on the Australian wine industry’ by Sarah Andrew, 3 April 2009, p. 118; Shutterstock: pp. 3, 4, 7, 15, 16, 26t, 31, 33, 41, 50, 59, 65l, 71, 73, 74, 94, 97,101, 125l, 125c, 125r, 128, 139, 151, 155,176, 188, 214, 216, 227, 241, 243, 252, 256, 260, 277, 282, 286, 289l, 296, 300; SmartCompany, www.smart company.com.au: ‘Bad idea or publicity stunt?’ by Michel Hogan, 1 October 2009, p. 124; Sue Rice Swimwear: p. 144; The Sydney Morning Herald: ‘Pregnant women will claim their rights’by Paul Bibby, 8 July 2010, pp. 264–265; The Sydney Morning Herald: ‘PacBrands back in the black’ by Ben Butler, 26 August 2010, p. 65; The Sydney Morning Herald: ‘Outsourcing on steroids’ by Alexandra Cain, 12 November 2009, pp. 244–247; The Sydney Morning Herald: ‘Working from home increases productivity’ by Alexandra Cain, 15 June 2010, pp. 275–277; The Sydney Morning Herald: ‘Island caretaker job offer: get paid $150,000 to swim, snorkel’ by Mex Cooper, 12 January 2009, pp. 129–130; The Sydney Morning Herald: ‘Westfi eld eyes asset sales to raise development cash’ by Carolyn Cummins, 8 September 2010, pp.183–184; The Sydney Morning Herald: ‘Do companies care about former staff?’ by Tony Featherstone, 6 September 2010, pp. 283–284; The Sydney Morning Herald: ‘Ryanair plan for standing room “vertical seats”’ by Robyn Grace, 2 July 2010, pp. 6–7; The Sydney Morning Herald: ‘Hard to place a dollar value on fame’ by Nina Hendy, 27 August 2010, pp.121–122; The Sydney Morning Herald: ‘She don’t like cocaine, but marketers get go-ahead to unleash scandalous brands’ by Julian Lee, 5 September 2009, pp. 86–87; The Sydney Morning Herald: ‘HIH liquidator poised to pay out’ by Elisabeth Sexton,25 March 2010, pp. 231–232; The Sydney Morning Herald: ‘HIH misled me, says investor who lost $7m’ by Elisabeth Sexton, 23 February 2010, pp. 232–233; The Sydney Morning Herald: ‘Strewth, it’s getting harder to fi nd a dinky di product’ by Melissa Singer, 28 August 2010, pp. 114–115; The Sydney Morning Herald: ‘Profi ts under siege at the millionaires factory’ by Stuart Washington, 6 September 2010, pp. 171–172; The Department of the Prime Minister and Cabinet: The Commonwealth Coat of Arms reproduced with permission, p. 257; Thinkstock: pp. 10, 26b, 58, 82, 225, 250, 263, 264, 266, 275, 281, 290, 297, 311, 331; Tourism Queensland: pp.109, 129-30; Tribune Media Services (TMS): MIT Sloan Management Review / Massachusetts Institute of Technology, 2009, p. 45; United Nations Population Division (UNDP): p. 272; The West Australian: ‘Naked Olympian in sugar ad storm’ by Cathy O’Leary, 1 September 2010, p.85; Wiley UK (John Wiley & Sons Ltd): D Hanson and B Tranter, ‘Who are the shareholders in Australia and what are their ethical opinions? An empirical analysis’, Corporate Governanace, vol. 14, no. 1, January 2006, p. 21; William McAllen Photography: p. 46; Work Cover NSW: p. 263. Every effort has been made to trace and acknowledge copyright. However, should any infringement have occurred, the publishers tender their apologies and invite copyright owners to contact them. CCoonntteennttss Series features vi How to use this book viii Outcomes x CHAPTER 1 OPERATIONS 1 1.1 The role of operations management 2 1.2 Infl uences on operations management 3 1.3 Operations 13 1.4 Operations strategies 26 Major Business Focus: Pacifi c Brands 64 Chapter 1 review 67 CHAPTER 2 MARKETING 71 2.1 The role of marketing 73 2.2 Key infl uences 81 2.3 Process of marketing 91 2.4 Developing marketing strategies 106 Major Business Focus: Marketing 139 Aussie swimwear Chapter 2 review 146 CHAPTER 3 FINANCE 151 3.1 The role of fi nancial management 153 3.2 Infl uences on fi nancial management 160 3.3 Processes of fi nancial management 180 3.4 Financial management strategies 214 Major Business Focus: The collapse of HIH 230 Insurance—ethical issues related to reporting Chapter 3 review 235 CHAPTER 4 HUMAN RESOURCES 241 4.1 The role of human resource management 243 4.2 Key infl uences 250 4.3 Processes of human resource management 281 4.4 Strategies in human resource management 285 4.5 Effectiveness of human resource 306 management Major Business Focus: Google—employer 318 of choice Chapter 4 review 326 APPENDICES 330 Appendix A: Assessment requirements 331 in the HSC course Appendix B: Preparing for and being assessed 336 Appendix C: The standards you must achieve 342 Appendix D: Sample HSC Business 344 Report question Appendix E: Sample Extended Response 349 Appendix F: Assessment terms used 354 in Business Studies Appendix G: Glossary of terms 356 Index 366 SSeerriieess ffeeaattuurreess Business Focus HSC Student books Business Focus Higher School Certificate student books incorporate the best practices in teaching and learning in a new series that reflects the revised Business Studies syllabus (2010). The Business Focus author team has a wealth of experience in teaching, curriculum and research, all of which have combined to create a text that reflects the best practice in teaching business studies to NSW students and is closely aligned to the syllabus. This full-colour series has been structured to follow the progression of teaching and learning, introducing students to the knowledge and skills that they need to succeed in the Business Studies course and providing opportunities to gain knowledge and skills for working in the business world. Up-to-date statistical data as well as relevant and meaningful case studies support students to develop a deep knowledge of Business Studies. Exam Café CDs Ready-for-it checklist Your study program Check that you have: (cid:115)(cid:0)(cid:82)(cid:69)(cid:86)(cid:73)(cid:83)(cid:69)(cid:68)(cid:0)(cid:65)(cid:76)(cid:76)(cid:0)(cid:67)(cid:79)(cid:85)(cid:82)(cid:83)(cid:69)(cid:0)(cid:67)(cid:79)(cid:78)(cid:84)(cid:69)(cid:78)(cid:84) (cid:115)(cid:0)(cid:65)(cid:68)(cid:68)(cid:82)(cid:69)(cid:83)(cid:83)(cid:69)(cid:68)(cid:0)(cid:65)(cid:82)(cid:69)(cid:65)(cid:83)(cid:0)(cid:89)(cid:79)(cid:85)(cid:0)(cid:65)(cid:82)(cid:69)(cid:0)(cid:85)(cid:78)(cid:70)(cid:65)(cid:77)(cid:73)(cid:76)(cid:73)(cid:65)(cid:82)(cid:0)(cid:87)(cid:73)(cid:84)(cid:72) (cid:115)(cid:0)(cid:82)(cid:69)(cid:65)(cid:68)(cid:0)(cid:79)(cid:86)(cid:69)(cid:82)(cid:0)(cid:89)(cid:79)(cid:85)(cid:82)(cid:0)(cid:82)(cid:69)(cid:86)(cid:73)(cid:83)(cid:73)(cid:79)(cid:78)(cid:0)(cid:78)(cid:79)(cid:84)(cid:69)(cid:83) (cid:115)(cid:0)(cid:72)(cid:73)(cid:71)(cid:72)(cid:76)(cid:73)(cid:71)(cid:72)(cid:84)(cid:69)(cid:68)(cid:0)(cid:73)(cid:77)(cid:80)(cid:79)(cid:82)(cid:84)(cid:65)(cid:78)(cid:84)(cid:0)(cid:80)(cid:79)(cid:73)(cid:78)(cid:84)(cid:83) (cid:115)(cid:0)(cid:83)(cid:85)(cid:77)(cid:77)(cid:65)(cid:82)(cid:73)(cid:83)(cid:69)(cid:68)(cid:0)(cid:69)(cid:65)(cid:67)(cid:72)(cid:0)(cid:84)(cid:79)(cid:80)(cid:73)(cid:67) BusinHesSsC Focus (cid:115)(cid:115)(cid:115)(cid:0)(cid:0)(cid:0)(cid:82)(cid:82)(cid:65)(cid:69)(cid:69)(cid:84)(cid:84)(cid:65)(cid:65)(cid:69)(cid:68)(cid:68)(cid:77)(cid:0)(cid:0)(cid:65)(cid:69)(cid:80)(cid:88)(cid:83)(cid:84)(cid:65)(cid:0)(cid:69)(cid:77)(cid:77)(cid:68)(cid:85)(cid:0)(cid:73)(cid:80)(cid:78)(cid:67)(cid:82)(cid:69)(cid:72)(cid:65)(cid:82)(cid:0)(cid:67)(cid:79)(cid:83)(cid:84)(cid:7)(cid:84)(cid:73)(cid:0)(cid:72)(cid:67)(cid:82)(cid:69)(cid:69)(cid:69)(cid:80)(cid:0)(cid:82)(cid:69)(cid:0)(cid:79)(cid:82)(cid:88)(cid:69)(cid:82)(cid:65)(cid:84)(cid:76)(cid:83)(cid:69)(cid:77)(cid:0)(cid:86)(cid:79)(cid:0)(cid:65)(cid:81)(cid:78)(cid:78)(cid:85)(cid:0)(cid:84)(cid:80)(cid:69)(cid:0)(cid:77)(cid:65)(cid:83)(cid:83)(cid:84)(cid:65)(cid:73)(cid:84)(cid:79)(cid:0)(cid:84)(cid:69)(cid:69)(cid:78)(cid:88)(cid:82)(cid:83)(cid:73)(cid:65)(cid:65)(cid:0)(cid:73)(cid:77)(cid:78)(cid:76)(cid:0)(cid:65)(cid:0)(cid:0)(cid:84)(cid:80)(cid:83)(cid:72)(cid:65)(cid:0)(cid:69)(cid:84)(cid:80)(cid:73)(cid:0)(cid:77)(cid:65)(cid:69)(cid:80)(cid:69)(cid:82)(cid:83)(cid:80)(cid:0)(cid:80)(cid:82)(cid:79)(cid:69)(cid:80)(cid:82)(cid:77)(cid:82)(cid:73)(cid:65)(cid:73)(cid:84)(cid:84)(cid:83)(cid:69)(cid:0)(cid:84)(cid:73)(cid:77)(cid:69)(cid:0)(cid:76)(cid:73)(cid:77)(cid:73)(cid:84) The exam Check that you have: (cid:115)(cid:0)(cid:0)(cid:0)(cid:67)(cid:72)(cid:69)(cid:67)(cid:75)(cid:69)(cid:68)(cid:0)(cid:84)(cid:72)(cid:69)(cid:0)(cid:69)(cid:88)(cid:65)(cid:67)(cid:84)(cid:0)(cid:69)(cid:88)(cid:65)(cid:77)(cid:0)(cid:82)(cid:69)(cid:81)(cid:85)(cid:73)(cid:82)(cid:69)(cid:77)(cid:69)(cid:78)(cid:84)(cid:83) Mac/Windows® (cid:115)(cid:115)(cid:0)(cid:0)(cid:79)(cid:80)(cid:66)(cid:76)(cid:65)(cid:84)(cid:78)(cid:65)(cid:78)(cid:73)(cid:78)(cid:69)(cid:69)(cid:68)(cid:68)(cid:0)(cid:0)(cid:72)(cid:65)(cid:79)(cid:78)(cid:87)(cid:68)(cid:0)(cid:0)(cid:84)(cid:82)(cid:79)(cid:69)(cid:0)(cid:65)(cid:66)(cid:68)(cid:69)(cid:0)(cid:83)(cid:67)(cid:84)(cid:65)(cid:0)(cid:85)(cid:82)(cid:69)(cid:83)(cid:69)(cid:70)(cid:85)(cid:0)(cid:89)(cid:76)(cid:76)(cid:89)(cid:79)(cid:0)(cid:85)(cid:84)(cid:72)(cid:82)(cid:0)(cid:69)(cid:82)(cid:69)(cid:0)(cid:73)(cid:65)(cid:78)(cid:68)(cid:83)(cid:84)(cid:73)(cid:78)(cid:82)(cid:85)(cid:71)(cid:67)(cid:0)(cid:84)(cid:84)(cid:73)(cid:73)(cid:77)(cid:79)(cid:78)(cid:69)(cid:0)(cid:79)(cid:78)(cid:0)(cid:84)(cid:72)(cid:69)(cid:0)(cid:83)(cid:65)(cid:77)(cid:80)(cid:76)(cid:69)(cid:0)(cid:69)(cid:88)(cid:65)(cid:77) igrhytp o©C Pearson Australia 2009 (a diCrHPdaCaviesnuolDroioaqidtnm vwc otuo eeofd pm i.Pt r oetooefIaahfiurn n stMueiobeitdnc s linC deaceAttDlr-uohlscosy eet lir,sonia s cloflf otikin afolto etoGho ®k yt‘rin lsoo Ooal uauiuCnftpufr.nD i tPncCc htecyhDeh .’L td). © Coffee Consultants Pty Ltd, Robert Anastasio,IFcCs mJclouoihcrphsk ontoC ootrHomhtlsnoae@wedn arLpirtt ideCci,o eaIarnrnresesncoa eo1Jna 8fsb. k0cLuu0oliact mi6teno 5tn.han6eciu r. e6o8,wn5 contributions. ISBN 978 1 494 6205 92 C(cid:115)(cid:115)(cid:115)(cid:115)(cid:115)(cid:0)(cid:0)(cid:0)(cid:0)(cid:0)h(cid:69)(cid:68)(cid:65)(cid:80)(cid:82)(cid:65)e(cid:69)(cid:88)(cid:79)(cid:82)(cid:76)(cid:83)c(cid:65)(cid:82)(cid:77)(cid:65)(cid:83)(cid:85)k(cid:65)(cid:78)(cid:69)(cid:77)(cid:66) (cid:69)(cid:78)(cid:78)t(cid:77)(cid:76)h(cid:77)(cid:71)(cid:83)(cid:69)(cid:69)a(cid:69)(cid:0)(cid:66)(cid:13)(cid:68)(cid:66)(cid:65)(cid:67)t(cid:68)(cid:76)(cid:0) (cid:69)(cid:69)(cid:83)(cid:72)(cid:65)y(cid:0)(cid:82)(cid:0)(cid:68)(cid:84)(cid:69)(cid:80)o(cid:84)(cid:82)(cid:69)(cid:72)(cid:0)(cid:65)(cid:67)(cid:80)u(cid:80)(cid:68)(cid:69)(cid:75)(cid:78)(cid:82) (cid:69)(cid:0)h(cid:79)(cid:69)(cid:89)(cid:89)(cid:83)(cid:78)a(cid:80)(cid:0)(cid:79)(cid:68)(cid:80)(cid:77)(cid:83)v(cid:82)(cid:85)(cid:0)(cid:79)(cid:12)(cid:68)(cid:73)e(cid:65)(cid:65)(cid:0)(cid:82)(cid:82)(cid:72)(cid:65)(cid:0):(cid:84)(cid:75)(cid:84)(cid:83)(cid:12)(cid:69)(cid:73)(cid:84)(cid:0)(cid:69)(cid:71)(cid:84)(cid:69)(cid:65)(cid:0)(cid:85)(cid:0)(cid:72)(cid:77)(cid:83)(cid:76)(cid:89)(cid:68)(cid:76)(cid:76)(cid:0)(cid:79)(cid:79)(cid:73)(cid:65)(cid:69)(cid:69)(cid:71)(cid:87)(cid:85)(cid:78)(cid:65)(cid:78)(cid:72)(cid:0)(cid:73)(cid:68)(cid:76)(cid:84)(cid:83)(cid:84)(cid:78)(cid:83)(cid:0)(cid:69)(cid:0)(cid:78)(cid:76)(cid:71)(cid:0)(cid:84)(cid:69)(cid:82)(cid:65)(cid:73)(cid:85)(cid:0)(cid:83)(cid:77)(cid:69)(cid:65)(cid:78)(cid:77)(cid:12)(cid:80)(cid:0)(cid:77)(cid:68)(cid:69)(cid:65)(cid:89)(cid:66)(cid:0)(cid:83)(cid:0)(cid:80)(cid:68)(cid:9)(cid:69)(cid:82)(cid:0)(cid:70)(cid:76)(cid:82)(cid:85)(cid:82)(cid:69)(cid:79)(cid:73)(cid:76)(cid:78)(cid:0)(cid:69)(cid:82)(cid:84)(cid:0)(cid:75)(cid:73)(cid:82)(cid:69)(cid:77)(cid:83)(cid:0)(cid:65)(cid:65)(cid:0)(cid:69)(cid:65)P(cid:78)(cid:67)(cid:0)(cid:83)(cid:72)(cid:68)r(cid:84)(cid:0)(cid:79)a(cid:0)(cid:0)(cid:69)(cid:69)(cid:65)(cid:0)c(cid:88)(cid:65)(cid:88)(cid:78)(cid:65)t(cid:86)(cid:65)(cid:89)i(cid:77)(cid:79)(cid:77)c(cid:0)(cid:79)(cid:73)a(cid:68)(cid:0)(cid:84)(cid:84)(cid:72)l(cid:0)(cid:73)(cid:77)(cid:82) (cid:69)s(cid:85)(cid:82)(cid:69)(cid:83)t(cid:0)e(cid:83)(cid:77)(cid:72)(cid:0)p(cid:73)(cid:86)(cid:78)(cid:65)s(cid:65)(cid:71)(cid:84)(cid:69)(cid:82)(cid:0)(cid:89)(cid:65)(cid:82)(cid:73)(cid:0)(cid:78)(cid:65)(cid:8)(cid:65)(cid:68)(cid:76)(cid:83)(cid:86)(cid:0)(cid:0)(cid:65)(cid:79)(cid:82)(cid:69)(cid:76)(cid:73)(cid:76)(cid:68)(cid:79)(cid:81)(cid:0)(cid:87)(cid:85)(cid:72)(cid:73)(cid:73)(cid:69)(cid:82)(cid:78)(cid:69)(cid:65)(cid:71)(cid:68)(cid:86)(cid:0)(cid:70)(cid:0)(cid:89)(cid:79)(cid:65)(cid:0)(cid:82)(cid:77)(cid:78)(cid:0)(cid:68)(cid:68)(cid:69)(cid:0)(cid:69)(cid:65)(cid:65)(cid:76)(cid:65)(cid:76)(cid:76)(cid:83)(cid:76)(cid:79)(cid:89)(cid:0)(cid:66)(cid:87)(cid:83)(cid:69)(cid:69)(cid:70)(cid:68)(cid:79)(cid:82)(cid:69)(cid:0) C The Exam Café CD contains the student book, in PDF form, which allows students S H to engage with the content outside of the classroom when preparing for assessments us of the HSC. Available on the exam Café CD are: c (cid:129) Glossary terms o F (cid:129) Preparing for Exams s s e (cid:129) Handling Exam Questions n i (cid:129) Daily Study Planner s u B (cid:129) Ready-for-it Checklist (cid:129) Revision Planner vi Pearson Places www.pearsonplaces.com.au Pearson Places is the online destination that is constantly evolving to give you the most up-to-date educational content on the Web. Visit Pearson Places to access educational content, download lesson material, use rich media and connect with students, educators and professionals around Australia. For teachers: (cid:129) Teacher lounge: One location for teacher support material-state curriculum grids, teaching program and more! For students: (cid:129) Student lounge: One location for student support material including web links and assessment guidance. (cid:129) Exam Café: The perfect place for senior students to practise, revise and study for exams. Available online are: – Glossary terms – Preparing for exams – Handling exam questions – Daily study planner – Course content checklist – Ready-for-it checklist – Revision planner – Web destinations – Practice exams – Quizzes Access these resources through the Exam Café CD or Exam Café Online at www.pearsonplaces.com.au. For more information on the Business Focus series, visit the Bookstore at www.pearsonplaces.com.au. B u s i n e s s F o c u s H S C vii HHooww ttoo uussee tthhiiss bbooookk Business Focus HSC incorporates the best practices in teaching and learning in a new series that reflects the revised Business Studies syllabus (2010). Chapters The chapter opens with the New South Wales Board of Studies Stage Six Business Studies syllabus ‘Learn to’ and ‘Learn about’ statements. These statements provide an easy reference to the content requirements of the HSC. Units Each chapter is divided into units. Units contain the most up-to-date information, statistics and examples taken from a range of businesses on a regional, national and global level. Unit reviews The unit reviews help students to revise, consolidate and explore the material in the unit. Key terms and concepts are provided to help students revise and engage in literacy activities. Business thinking skills help students engage with the content and concepts in the unit. Business creativity and extension help to extend students knowledge and understanding. Business ICT helps students to engage in meaningful ICT tasks to extend knowledge or develop business skills. C S H s u c o F s s e n i s u B viii Business Focus ‘Business Focus’ are case studies that provide students with real-life examples of the content they are studying. Business Focus activities encourage students to make links between the case study information and the skills and knowledge they have learnt in the unit. Major Business Focus The ‘Major Business Focus’ is a large case studies that contextualises an entire chapter. Students can use these to prepare for assessment, prepare for exams and make deep links between the content in the student book and the business world. Chapter review A concept map helps students to visually connect the concepts they have learnt in the chapter. An HSC-style preparing for assessment section provides students with ongoing B u opportunities to practice for the HSC written exam, while consolidating and applying s i the knowledge and skills learnt within the chapter. n e s s Pearson Places F o c u For a full list of relevant websites, navigate to the web destinations s for Business Focus Higher School Certificate via the Student Lounge H S at www.pearsonplaces.com.au Web Destination C ix OOuuttccoommeess The student Chapter Objectives Outcomes 1 2 3 4 The nature, role and H1 critically analyses the role ■ ■ structure of business of business in Australia and globally Internal and external H2 evaluates management ■ ■ ■ ■ infl uences on strategies in response to business changes in internal and external infl uences H3 discusses the social and ■ ■ ■ ■ ethical responsibilities of management The functions and H4 analyses business functions ■ ■ ■ ■ processes of business and processes in large and activity global businesses Management H5 explains the management ■ ■ ■ ■ strategies and their strategies and their impact on effectiveness businesses H6 evaluates the effectiveness ■ ■ ■ ■ of management in the performance of businesses Investigate, H7 plans and conducts ■ ■ ■ ■ synthesise investigations into and evaluate contemporary business issues contemporary H8 organises and evaluates ■ ■ ■ ■ business issues and information for actual hypothetical and hypothetical business actual business situations situations Communicate H9 communicates business ■ ■ ■ ■ business information information, issues and and issues using concepts in appropriate C appropriate formats formats S H s Acopnpcley pmtsa tahpepmroaptirciaalt e Hco1n0c aeppptsli easp pmraotphreiamtealtyic ianl ■ ■ u c to business situations business situations o F s s e n i s u B x