Year 11 Business Studies

Business Management – HSC Hub Videos

Syllabus Outline:................................................................................................................2
Worksheet #1: Features and Skills of Effective Management..............................................4
Worksheet #2: Business Goals and Achieving a Mix of Goals..............................................6
Worksheet #3: Staff Involvement.......................................................................................8
Worksheet #4: Management Approaches..........................................................................9
Worksheet #5: Coordinating Business Functions and Ethical Business Behaviour..............12
Worksheet #6: Operations...............................................................................................13
Worksheet #7: Marketing (Part 1)....................................................................................15
Worksheet #8: Marketing (Part 2)....................................................................................16
Worksheet #9: Finance – Cash Flow Statement................................................................18
Worksheet #10: Finance – Income Statement...................................................................20
Worksheet #11: Finance – Balance Sheet (Part 1).............................................................22
Worksheet #12: Finance – Balance Sheet (Part 2).............................................................23
Worksheet #13: Finance – Human Resources....................................................................24
Worksheet #14: Management and Change......................................................................26

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Syllabus Outline:
Nature of Management:
 Features of effective management
 Skills of management:
– Interpersonal, communication, strategic thinking, vision, problem-solving,
decision-making, flexibility, adaptability to change, reconciling the conflicting
interests of stakeholders.
 Achieving business goals:
– Profits, market share, growth, share price, social, environmental
– Achieving a mix of the above goals
– Staff involvement – innovation, motivation, mentoring, training

Management Approaches:
 Classical approach:
– Management as planning, organising and controlling
– Hierarchical organisational structure
– Autocratic leadership style
 Behavioural approach:
– Management as leading, motivating, communicating
– Teams
– Participative/democratic leadership style
 Contingency approach:
– Adapting to changing circumstances

Management Process:
 Coordinating key business functions and resources
 Operations:
– Goods and/or services
– The production process
– Quality management
 Marketing:
– Identification of the target market
– Marketing mix
 Finance:
– Cash flow statement
– Income statement
– Balance sheet
 Human resources:
– Recruitment

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 Year 11 Business Studies
Business Management – HSC Hub Videos

– Training
– Employment contracts
– Separation – voluntary/involuntary
 Ethical business behaviour

Management and Change:

 Responding to internal and external influences
 Managing change effectively
– Identifying the need for change
o Business information systems
– Setting achievable goals
– Resistance to change
– Management consultants

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #1: Features and Skills of Effective Management

Syllabus Content:
Nature of Management:
 Features of effective management
 Skills of management:
– Interpersonal, communication, strategic thinking, vision, problem-solving,
decision-making, flexibility, adaptability to change, reconciling the conflicting
interests of stakeholders.
 Achieving business goals:
– Profits, market share, growth, share price, social, environmental
– Achieving a mix of the above goals
– Staff involvement – innovation, motivation, mentoring, training

1. Define manager.
__________________________________________________________________________________________

__________________________________________________________________________________________

2. List two ways that management can successfully achieve the business’ goals:

1. ______________________________________________________

2. ______________________________________________________

3. Explain why interpersonal and communication skills are important skills for managers
to have.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

4. Outline the relationship between strategic thinking and vision.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

5. Outline the process involved with problem solving and decision making.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

6. What type of approach is vital to have strong flexibility and adaptability to change
skills?
__________________________________________________________________________________________

7. List two conflicting stakeholders and provide a scenario of each:

1. ______________________________________________________

i. _________________________________________________________

_________________________________________________________

2. ______________________________________________________

i. _________________________________________________________

_________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #2: Business Goals and Achieving a Mix of Goals

Syllabus Content:
Nature of Management:
 Achieving business goals:
– Profits, market share, growth, share price, social, environmental
– Achieving a mix of the above goals

1. Define goals.
__________________________________________________________________________________________

__________________________________________________________________________________________

2. List the 5 characteristics of successful goal setting:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

5. ______________________________________________________

3. List the 4 main financial goals:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

4. Explain why managers want to increase market share.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

5. Explain the difference between internal and external growth.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

6. Why do businesses want to increase their share price?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

7. List the two social goals for a business:

1. ______________________________________________________

2. ______________________________________________________

8. Explain how McDonalds’ achieves a mix of business goals.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #3: Staff Involvement

Syllabus Content:
Nature of Management:
 Achieving business goals:
– Staff involvement – innovation, motivation, mentoring, training

1. List the four ways that managers can increase staff involvement:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

2. How can managers encourage innovation in the workplace?

__________________________________________________________________________________________

__________________________________________________________________________________________

3. What can managers do to increase motivation in the workplace?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

4. Why should managers routinely train their employees?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #4: Management Approaches

Syllabus Content:
Management Approaches:
 Classical approach:
– Management as planning, organising and controlling
– Hierarchical organisational structure
– Autocratic leadership style
 Behavioural approach:
– Management as leading, motivating, communicating
– Teams
– Participative/democratic leadership style
 Contingency approach:
– Adapting to changing circumstances
1. Fill in the blanks.

Management
Approach

2. List the three different types of management styles:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

3. Identify the other name for the classical management approach.

__________________________________________________________________________________________

4. Explain the three management functions related to the classical management

approach.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

5. Explain what is meant by a strict hierarchical structure.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

6. Complete the table for the classical management approach:

Organisation & Business Levels of Management

Allocation of Tasks Structure Management Style

7. List the three management functions of the behavioural approach:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

8. Complete the table for the behavioural management approach:

Organisation & Business Levels of Management

Allocation of Tasks Structure Management Style

9. Explain what is meant by the contingency management approach.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #5: Coordinating Business Functions and Ethical Business

Behaviour
Syllabus Content:
Management Process:
 Coordinating key business functions and resources
 Ethical business behaviour

1. List the four key business functions:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

2. Explain what is meant by the interdependence between the key business functions.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

3. Outline the knock-on effect of poor financial management on the other key business
functions.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

4. Why is the triple bottom line important to a business?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #6: Operations

Syllabus Content:
Management Process:
 Operations:
– Goods and/or services
– The production process
– Quality management

1. Identify the transforming resource reliance that each business has depending on the
type of product they are selling:

1. Goods - ________________________

2. Service – ________________________

2. Define production process:

__________________________________________________________________________________________

__________________________________________________________________________________________

3. List four main common inputs for a business:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

4. Explain what happens in the transformation process. Provide an example of a

business' transformation process.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

5. Outline the reasoning behind quality management.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

6. Outline the difference between quality control, quality assurance and quality
improvement.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #7: Marketing (Part 1)

Syllabus Content:
Management Process:
 Marketing:
– Identification of the target market

1. Explain why it is important for businesses to identify their target market.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

2. List two businesses that use the mass market approach to identify their target market.
1. ______________________________________________________
2. ______________________________________________________

3. Explain the difference between demographic segmentation and geographic

segmentation.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

4. Define Niche Market.

__________________________________________________________________________________________

__________________________________________________________________________________________
5. Outline the target market for Mercedes and explain why it differs from McDonald’s.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #8: Marketing (Part 2)

Syllabus Content:
Management Process:
 Marketing:
– Marketing mix
1. List the four characteristics of the marketing mix:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

2. Explain the interaction between price and quality and explain how this relationship
effects the positioning of products.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

3. Define Branding.
__________________________________________________________________________________________

4. List the three types of pricing options available to a business:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

5. State the formula for cost-plus margin pricing.

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

6. What is the difference between market pricing and competitive pricing?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

7. List the four parts of the promotion mix:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

8. What type of promotion would be taking place if there was a social media post from a

news corporation promoting the business’ latest product?

__________________________________________________________________________________________

9. What type of promotion would be taking place if there was a door-to-door salesmen

trying to sell the latest cleaning product?

__________________________________________________________________________________________

10. Harris Farm’s buying model for their fruit and vegetables is buying from Sydney

Markets. What type of distribution channel would they be using?

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #9: Finance – Cash Flow Statement

Syllabus Content:
Management Process:
 Finance:
– Cash flow statement
– Income statement
– Balance sheet

1. List the three main financial statements:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

2. Identify the difference in the utilisation of data for the three financial statements.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

3. What does the cash flow statement show?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

4. Does money awaiting to be paid in accounts payable get recorded on the cash flow
statement?
__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

5. List three examples of cash receipts:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

6. State the relationship between a month ending closing balance and the next month’s
opening balance.
__________________________________________________________________________________________

7. State the formula to determine the closing balance at the end of an accounting period.
__________________________________________________________________________________________

8. Why are cash flow statements important to the business?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #10: Finance – Income Statement

Syllabus Content:
Management Process:
 Finance:
– Income statement

1. State the other names of an income statement.

__________________________________________________________________________________________

2. Define Cost of Goods Sold.

__________________________________________________________________________________________

__________________________________________________________________________________________

3. State the formula to calculate the cost of goods sold.

__________________________________________________________________________________________

4. When calculating the COGS, do you use the cost of purchasing the product or the
selling price of the product?
__________________________________________________________________________________________

5. State the formula to calculate gross profit.

__________________________________________________________________________________________

6. Define expenses.
__________________________________________________________________________________________

__________________________________________________________________________________________

7. State the formula to calculate net profit.

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

8. Explain why a business would be worried if they have a positive gross profit but a
negative net profit.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #11: Finance – Balance Sheet (Part 1)

Syllabus Content:
Management Process:
 Finance:
– Balance sheet

1. State what the balance sheet compares.

__________________________________________________________________________________________

__________________________________________________________________________________________

2. Outline the difference between current assets and non-current assets.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #12: Finance – Balance Sheet (Part 2)

Syllabus Content:
Management Process:
 Finance:
– Balance sheet

1. State the accounting equation.

__________________________________________________________________________________________

__________________________________________________________________________________________

2. Through the example of purchasing a car, explain why the equation will remain
balanced regardless of whether the business decides to use a loan, the owner’s money
or cash to pay for the car.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

3. Why is the balance sheet important to the business?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #13: Finance – Human Resources

Syllabus Content:
Management Process:
 Human resources:
– Recruitment
– Training
– Employment contracts
– Separation – voluntary/involuntary

1. Define Human Resources.

__________________________________________________________________________________________
2. List the four stages of the Human Resource Cycle:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

4. ______________________________________________________

3. Define Recruitment.
__________________________________________________________________________________________

__________________________________________________________________________________________

4. State the two types of recruitment options available to a business.

__________________________________________________________________________________________

5. List the three types of employment contracts:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

6. Complete the table:

Modern Award Enterprise Common Law

Agreement Contract

Who’s Involved?

Advantage

Disadvantage

7. Explain why the legal process involved with common law contracts are different to
that of a modern award or enterprise agreement.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

8. List three ways that an employer can train its employees:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

9. Explain the difference between voluntary and involuntary separation.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

25
 Year 11 Business Studies
Business Management – HSC Hub Videos

Worksheet #14: Management and Change

Syllabus Content:
Management and Change:
 Responding to internal and external influences
 Managing change effectively
– Identifying the need for change
o Business information systems
– Setting achievable goals
– Resistance to change
– Management consultants

1. Explain the difference between a proactive approach to change and a reactive

approach to change.
__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

2. Explain the effect of a global pandemic on the business environment.

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

3. How can managers use business information systems to be proactive?

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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 Year 11 Business Studies
Business Management – HSC Hub Videos

4. List four possible reasons as to why employees are resistant to change:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

5. List three possible strategies to help overcome the resistance to change:

1. ______________________________________________________

2. ______________________________________________________

3. ______________________________________________________

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