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    (Original post by TopStudent258)
    Exam technique is essential for gaining top marks in this exam! Relevant application from the case study with analysis throughout. Also, evaluate at the end of each paragraph as well as the conclusion. I would save 45-50 minutes for Q4 as it's nearly half of the marks allocated in the paper overall! I would recommend the following structure:

    Q1 - Definition and the points asked for in the question (usually 2)
    Q2 & 3 - Definition with 2 points for and 2 points against as well as a conclusion
    Q4 - Definition with 3 points for and 3 points against and a chunky conclusion with recommendations to the proposed strategy

    Thank you very much! So if I don't really revise content and just use the data and a bit of common sense do you think I will be okay to get an A?
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    (Original post by maxbillson)
    Thank you very much! So if I don't really revise content and just use the data and a bit of common sense do you think I will be okay to get an A?
    I would never advise someone not to revise content. It's also good to have a broad understanding so you know what the case study is telling you.
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    In the evaluation of q2,3,4 is it ok to suggest another strategy (not mentioned), or make an amendment to the current/proposed strategy?
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    (Original post by TopStudent258)
    I would never advise someone not to revise content. It's also good to have a broad understanding so you know what the case study is telling you.

    Yeah but I haven't started yet and the exam is tomorrow so I just want to do the most important things!
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    Can someone explain the Asset turnover ratio please? Whats the connection with labour intensive/ capital intensive industries?
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    (Original post by rubix1)
    Can someone explain the Asset turnover ratio please? Whats the connection with labour intensive/ capital intensive industries?
    Asset turnover is the ability of the firm to use its assets to generate sales revenue.
    Forumla = Revenue / Net Assets.

    Labour intensive firm will have a higher turnover than one that's capital intensive. This is because the 'capital' in a firm is part of the 'Net Assets' (See the forumla above?). So, it reduces value considerably compared to a labour intensive firm with little capital.
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    (Original post by Indyy)
    Current:
    Ideal = 1.5:1 or 2:1
    However, too much assets means that a business may miss out opportunity to purchase non current assets such as machinery. On the contrary, too low of a value indicates a cash flow problem and therefore may need to delay creditors or raise capital

    Acid:
    Ideal = 0.75:1 or 1.1
    Doesn't consider stock as it's a liquid asset. However, depends upon the nature of the business.

    ROCE:
    Ideal = High as possible, 10-15% is good, higher than interest rates.

    Asset Turnover:
    Depends upon the business. Labour intensive = Higher turnover. Capital intensive = Lower turnover. - This is because the capital in a firm is part of its 'net assets'.

    Stock Turnover:
    Depends upon the business. EG: Selling newspaper needs high stock turnover. Whereas retailers may keep some stock to attract customers.

    Payables Days:
    Longer the better as it can help with cashflow. But, taking to long effects good will and relationship with suppliers. = Effect trade etc. -- Usually 28 days.

    Receivable Days:
    Shorter the better. Can be controlled by regularly reminding customers of repayments. However, conflicts between departments as Finance dept want the money back ASAP, whereas Marketing dept may offer credit terms to attract sales.

    Gearing:
    Low = <25%
    High = >50%
    But, high gearing attractive when interest rates are low, and whether a company is highly profitable. On the other hand, low gearing reduces the chances of cashflow problems.

    Dividend Per Share/Yield:
    Higher the better.

    Hi thanks for that REALLY helped. One more thing what does the acid and current and gearing show. Is it for efficiency or...
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    (Original post by maxbillson)
    Yeah but I haven't started yet and the exam is tomorrow so I just want to do the most important things!
    Okay well in that case go over grey areas and exam technique there's a great article on tutor2u:

    http://www.tutor2u.net/blog/index.ph...nique-in-buss3
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    (Original post by rubix1)
    Can someone explain the Asset turnover ratio please? Whats the connection with labour intensive/ capital intensive industries?
    the asset turnover ratio shows how much revenue a business is making from every pound worth of its assets, so if its like 1.5:1, it means that the assets are really good at making the business money simply.

    A capital intensive industry is bound to have more assets than a labour intensive firm, and therefore it would be expected that a capital intensive firm would have a lower asset turnover ratio than a labour intensive firm.
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    (Original post by Mitche)
    Hi thanks for that REALLY helped. One more thing what does the acid and current and gearing show. Is it for efficiency or...
    They are both liquidity ratios.

    Current ratio shows the ability of a firm to meet it's liabilities by making use of its assets.
    Acid test ratio is basically the current ratio but without inventories as they are considered liquid assets. I.E. assumed that they may not be sold.

    Edit- I missed out gearing.

    Gearing shows the capital structure of the firm. I.E what percentage of it is reliant on loans etc.
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    (Original post by sofiax0)
    the asset turnover ratio shows how much revenue a business is making from every pound worth of its assets, so if its like 1.5:1, it means that the assets are really good at making the business money simply.

    A capital intensive industry is bound to have more assets than a labour intensive firm, and therefore it would be expected that a capital intensive firm would have a lower asset turnover ratio than a labour intensive firm.
    In my notes it says that asset turnover is not expressed as a ratio/percentage, just a number lol. :confused:
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    Is it safe to use just the CGP book for revision??

    edit:

    the tutor2u 13 top tips for Buss3 posted today

    Spoiler:
    Show

    1. Exam timing: if you use a mark a minute this will leave you 45 for the final question and case study reading time

    2. Read the questions CAREFULLY and then re-read them... you must think about what you are being asked to do!

    3. Use as many calculations as you can - even when the question doesn't ask for them & use the data from appendices where possible, try to put some in each point.

    4. Keep a good structure and before you evaluate on questions 2, 3 and 4 re-read the question. It’s so easy to forget what the question was when you are writing for 18 minutes.

    5. Don't over run on the first questions, you need to leave time to think and plan for the 34/36 marker. Just make the points you can pick up from the case study and explain why they are important.

    6. Leave 45 mins for Q4 and plan it well taking into consideration answers to the previous questions if relevant. Try to incorporate Ansoff Matrix into analysis in Q4.

    7. Application can only be awarded if it supports an argument...simply copying out the case study isn’t application...its.copying!

    8. Build up your analysis step by step and use calculations where possible - they can help you get 'GAP' and also give you something to analyse.

    9. Read the question again before you evaluate, and then make sure you fully answer the question in your conclusion!

    10. Open each paragraph and your conclusion with words from the question as this will keep you on track.

    11. You MUST use the financial information in Q4. there will always be financial information in the data so use it!

    12. Be careful on using “it depends”. You need to explain WHY it depends on what you have said.

    13. 3 ways to get good evaluation (1) make a reasonable judgement (2) support it with reasons from your previous arguments (summarise) (3) make recommendations!



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    (Original post by Infamous12)
    My teacher said to get into the higher marks, you should make 3 points for the 18 markers ( 2 for 1 against, or visa versa).

    For the 34 marker, depending on my time im aiming for intro 2/3 for 2/3 against and a conclusion. Not sure if that is too many though.
    For the 34 marker that is a lot, especially considering it is all about quality not quantity. I have looked at past paper answers for the 34 marker it's structured like this:

    INTRO
    FOR:
    2 points in 2 different paragraphs
    AGAINST:
    2 points again
    CONCLUSION/RECOMMENDATION

    I looked at tutor2u's website and they said you should cut the 34 marker into 3 sections: for, against and recommendations
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    (Original post by laurenculver24)
    For the 34 marker that is a lot, especially considering it is all about quality not quantity. I have looked at past paper answers for the 34 marker it's structured like this:

    INTRO
    FOR:
    2 points in 2 different paragraphs
    AGAINST:
    2 points again
    CONCLUSION/RECOMMENDATION

    I looked at tutor2u's website and they said you should cut the 34 marker into 3 sections: for, against and recommendations
    Am i right in saying that none of the questions are 'essays'?

    So i can use subheadings to separate the For/Against and Recommendations?
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    (Original post by Indyy)
    Am i right in saying that none of the questions are 'essays'?

    So i can use subheadings to separate the For/Against and Recommendations?
    In the 34 marker answer the person actually wrote the headings, so yeah, I think it's a really good structure to follow
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    (Original post by Indyy)
    Am i right in saying that none of the questions are 'essays'?

    So i can use subheadings to separate the For/Against and Recommendations?
    Yes, they want you to use sub-headings for the last question especially, it says so on the examiners report.

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    (Original post by cera ess six)
    Is it safe to use just the CGP book for revision??

    edit:

    the tutor2u 13 top tips for Buss3 posted today

    Spoiler:
    Show

    1. Exam timing: if you use a mark a minute this will leave you 45 for the final question and case study reading time

    2. Read the questions CAREFULLY and then re-read them... you must think about what you are being asked to do!

    3. Use as many calculations as you can - even when the question doesn't ask for them & use the data from appendices where possible, try to put some in each point.

    4. Keep a good structure and before you evaluate on questions 2, 3 and 4 re-read the question. It’s so easy to forget what the question was when you are writing for 18 minutes.

    5. Don't over run on the first questions, you need to leave time to think and plan for the 34/36 marker. Just make the points you can pick up from the case study and explain why they are important.

    6. Leave 45 mins for Q4 and plan it well taking into consideration answers to the previous questions if relevant. Try to incorporate Ansoff Matrix into analysis in Q4.

    7. Application can only be awarded if it supports an argument...simply copying out the case study isn’t application...its.copying!

    8. Build up your analysis step by step and use calculations where possible - they can help you get 'GAP' and also give you something to analyse.

    9. Read the question again before you evaluate, and then make sure you fully answer the question in your conclusion!

    10. Open each paragraph and your conclusion with words from the question as this will keep you on track.

    11. You MUST use the financial information in Q4. there will always be financial information in the data so use it!

    12. Be careful on using “it depends”. You need to explain WHY it depends on what you have said.

    13. 3 ways to get good evaluation (1) make a reasonable judgement (2) support it with reasons from your previous arguments (summarise) (3) make recommendations!



    What's GAP? point number 8?
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    (Original post by Indyy)
    In my notes it says that asset turnover is not expressed as a ratio/percentage, just a number lol. :confused:
    in the cgp revision guide it expresses it as a ratio because its for every pound presumably, but then on an exam paper im currently looking at (Jan 2011 just for the record) in question 4 where its like students could use the asset turnover it doesn't express it as a ratio, so either way im sure both are fine , but if anything, as its on the mark scheme like this, i guess i wouldnt express it as a ratio? im not sure it really matters, but yeah
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    How do you calculate the months in payback?
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    lol I love business studies, we did the Out & About plc Jan 2010 past paper in class for a mock, the teacher wanted to put me in my place since my attendance to class has been about 40% this year. Out of laziness and lack of general content knowledge I decided only to answer questions 1 and 4. Funnily enough I ended up getting 40% overall mark haha, that's one mark off a D grade however in comparison to the others in the class who attend all year, answered both the 18 markers as well and actually bust a sweat scribbling down their stuff and only ended up with fewer marks than me; not bad! .

    Anyway moral of the story, this exam is all about how you can play with your words and dare I say it.. chat rubbish!

    Think of building up a chain in your opinion since majority of the marks come from a reasonable argument and analysis, which basically means taking a point and playing with it as much as is humanly possible.
    - E.g we have a case study of Company A, whose primary concern is to make profitability.
    - So we read further into the case study and find that Person X in the company wants to carry out Operation B.

    These little pieces of information you can glue together and make a whole argument out of it! How?
    Remind yourself of BUSS1 and BUSS2,

    Take your point (in our case Operation B) and compare it to the companies corporate objectives (in our case increasing profitability). If we see that it is something that isn't likely to increase it, (or possibly the other way round) take it, grab onto it and murder the essay with it!

    E.g within an e.g - "Operation B is may not be the best thing to go with as it may cause employees to feel such and such way about the company and their work, this could cause lack of motivation which could then lead to an increase in employees absenteeism, taking time off work. This would then cost the business as efficiency will be reduced as well as the fact that they pay the employees whilst they are off and no work is being gained from them. (If you are given information about 'person X' then you can bring that in too for mad marks and application!) Furthermore since Person X was recently not in any kind of business sector relating to Human Resource management s/he is most likely to not be well seasoned in terms of handling the affairs of employees with the correct interests in mind. All these costs are highly likely to slow down the company's corporate objectives of increasing profitability so perhaps it will need to be reconsidered. (If you have another suggestion you could add that in too)".

    So basically in a nutshell you can see that there really isn't that much knowledge required, it's more based upon how well you can build a chain in an argument and then ultimately LINK IT TO THE CORPORATE OBJECTIVES which is on fo the most important parts and this is what distinguishes BUSS3 from BUSS1 & 2, going that extra bit in your argument to wrap it up.

    Also bear in mind that you don't need to write in extremely sophisticated English either, there are marks available for quality of written communication but that can be achieved with even the simplest of words so don't kill yourself trying to sound nice for the examiner. I've just gone through reading some past papers all of which are A - A* grade work, the candidates can barely string together a sentence which makes sense however it's the correct use of the case study and a few key terms here and there which accompany the ability to build a chain of arugment that score the marks! Be straight to the point and avoid mentioning pointless things (save that for BUSS4) that don't relate to the case study.

    The reason the case study is so long and takes years to read is because all the answers are given to you in there!



    p.s even though there is a hugeeeeee amount of stress on using calculations, if they freak you out too much and cause you to lose time, avoid them. There is still plenty of other points in the case study you can use - even if they are numbers, just state the obvious rather than doing calculations with them. E.G 'As you can see the company has a high absenteeism rate in comparison to the others so clearly the staff are probably not as motivated due to.....' - and so on!
 
 
 
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