National 5 Business Management - Week today

How's everyone feeling about this exam next Monday?

I am feeling pretty confident however it's hard to revise as there's so much stuff to know and I don't know where to start haha.

Also how did everyone do in their prelims?

Good luck and feel free to ask questions.

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Reply 1

NL32

Original post by jonathansmithx

Quick question: What legislations do we need to know, we have been taught the Equality Act and the Health and Safety Act, but I have came across questions about the Data Protection Act and the Freedom of Information Act, could this be in the exam? Also, do we need to know about Trade Unions?

Is this regarding the hodder Gibson practise papers? I came across a question on trade unions and I had never learned about it but I will ask my teacher next week when I'm in. Another legislation you need to know is the national minimum wage act pretty straight forward just say it's the minimum amount a person can get per hour.

In our prelim we had a question "How would a business grow and expand?" How would you answer this?

Reply 2

NL32

Not sure on data protection and Freedom of protection though

Reply 3

NL32

Original post by jonathansmithx

Yeah, I saw it in one of the practice papers! I'd just describe how to increase your market share, employ more staff, and also explain some sources of finance that are suitable for expansion... That's how I would tackle it, but I may be wrong!

That's what I would say but we were being told to write about being multinational, horizontal/vertical integration which I have never heard about before? How are you feeling about the marketing topic? I have tried rewriting notes and stuff but there's so much to learn! :/ Do you know what we need to know about cash budgets and profit statements?

Reply 4

NL32

Original post by jonathansmithx

I have never heard about that!! Yeah I'm pretty confident with marketing, I've done the same - condensed all my notes, I'm on operations just now! Yeah I'm fine with the finance as I took Accounting so it's just the basics of that! Timing is my big issue, I only had 2 minutes or so left over in my prelim!

Yeah operations is pretty straight forward and what is Accounting like? I couldn't take it next year due to colums but I will hopefully go onto pass higher maths and higher business so would I be okay crashing higher of it in 6th year? Also just following from my last post what do i need to know about cash budgets and profit statements ? Were you told about the topics in the prelim? We are and I got 80% so I am not really depending on that since I knew what was it in basically
Cheers

(edited 8 years ago)

Reply 5

NL32

Original post by jonathansmithx

It's pretty straightforward and easy to grasp so I'd say crashing it would be fine! For cash budgets you need to know how to interpret them and give some examples of sources of finance to help - for example, if it shows a deficit (a negative closing balance) they might try purchasing Fixed Assets on hire purchase to spread the cost over a few month, or arrange a bank overdraft. For Profit and Loss Statements, all you need to know is that it goes 'Sales - Purchases' to give you the Gross Profit and 'Gross Profit + Incomes - Expenses' for the Net Profit. We were never told about the topics in the prelim, so it gave quite a realistic picture!

Ah that's good gives me a good idea about it now! Yeah I have all the time in the world to revise for this so I should be fine and its an afternoon exam as well. I had history last week and mucked it up as I paniced and forgot everything so hopefully that doesn't happen again. There's only 3 national 5 Canadiates in our school (many crash higher) Wbu? Also in class this year did you use the Natipnal 5 Business Course Notes leckie and leckie book?

Reply 6

NL32

Original post by jonathansmithx

That's not so good! We have 2 National 5 classes! We used that for some of the course but we had our own course notes aswell! Personally I liked the Leckie and Leckie course notes better - it went into much more detail!

Yeah I prefer the book too, the way it's laid out and everything is very helpful imo. You had any other exams yet?

Reply 7

NL32

Original post by jonathansmithx

Nope, music on Friday though so it's all good!

Just saw a question in past papers, compare 2 types of payment systems used by organisations. My first thoughts were like comparing a salary and piece rate but at the back it only tells you about piece rate and time rate. Are both correct ?

Reply 8

NL32

Just to tell yous I found an app which might be very useful for revising. Basically, you put in a term and a definition and it makes up little quizzes, match ups and flash cards. It also reads the definitions out as well

im finding it useful just for putting in terms we need to know. The app is called Quizlet

Reply 9

CairneyM

Does anyone find that when they do business past papers there answers are relevant and correct but are not in the marketing schem, the marking schem is very specific?

Reply 10

NL32

Original post by CairneyM

Does anyone find that when they do business past papers there answers are relevant and correct but are not in the marketing schem, the marking schem is very specific?

Yeah I agree, I get annoyed because I feel my answers right but it doesn't say it there when it actually is. I think they are just trying to save time when writing the book they don't go into much detail

Reply 11

CairneyM

Yea I just completed model paper 4 and didn't have a lot of what was in the marking scheme and it's really annoying because I got my answers from the lecki lecki business course note book so when I mark it I don't know whether to give myself marks or not

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Reply 12

NL32

Original post by CairneyM

Yeah I use that as well but to be fair that's all we have used all year haha! I know what you mean though, I try to be as tough as possible when marking just to try get to see what I actually get.
Anything of the course uour not sure on? I always struggle with the modern technology in marketing, fianance and on operations quesrions and I still have cash budgets to look over. In the practise papers it mentions trade unions, have you learnt about this?

Reply 13

CairneyM

All we have used all year is the lecki and lecki books to, and I have never came across trade unions although it did come up in the past papers.
Are you unsure of how a business used technology in the different departments?

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Reply 14

NL32

Original post by CairneyM

Yeah it's rarely mentioned in book and always get confused :/ doesn't help either how my teacher has just told us she is going into labour tomorrow so can't ask her anuthing before exam 😂

Reply 15

CairneyM

It's barely in the book but some example I got from a document my teacher made

Finance department:

Use spreadsheet to keep track of expenses and cash flow

Marketing:

Mobile phone to send SMS to customers about new products or publisher to creat a catalogue on their products

Human resources:

Databases to record employee personal info

Operations:

EPOS to manage stock levels and spreadsheets to manage stock levels using formulae

I'm not sure if this would be correct on the sqa marking scheme

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Reply 16

CairneyM

Do we need to know about horizontal and vertical integration? I don't know what It means but it came up in the marking scheme for one of the questions

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