Let them have the syllabus

My thesis statement: Higher School Certificate Business Studies students should be given the syllabus in all their exams.

Let me explain.

If you’ve taught or studied Business Studies for the HSC you know the importance of the syllabus. The syllabus is key. I don’t think I’ve experienced another subject where a useful activity (no cap: is 100% useful) is to have students fill in the blanks on syllabus with some sections missing.

Let me be clear: I’m not criticising the prominent role the syllabus plays in Business Studies. To succeed, students must know their syllabus back to front. This is because questions in Business Studies are prescriptive, in the sense that they require students to identify the specific part of the syllabus and then include the relevant content from that specific section.

At present, students do not receive the syllabus in the HSC exam. I think we should revisit this and consider supplying them with the syllabus. 

My reason is this. If we don’t supply the syllabus, the emphasis is on students spending their time memorising the syllabus and then applying the content. The primary focus is on memorising. Application sits second. 

But I would argue that memorising is a lower-order skill. Think back to Bloom’s Taxonomy. The skill of “remembering” is all the way at the bottom of the taxonomy. The ‘meat’ of exam questions — the analyse, explain, justify and so on — sit much higher up. 

Click through for more information. Source: Vanderbilt University Center for Teaching

Let’s imagine all students had the syllabus in the exam. They would go into the exam knowing the focus would be on applying syllabus knowledge, rather than remembering how the syllabus is structured. 

And consider things from a teacher’s perspective. We could dedicate more time to applying content, such as through practice examination questions and modelling great processes to answer such questions. This would replace the need to continually come back to the precise structure of the syllabus.

Maybe one criticism of my proposed approach would be that the examination would be much easier for students. I’m not sure about this. During the Delta outbreak in Sydney, we conducted the Trial HSC exams online and made them open book. The results were in line with class averages and students did not perform above their previous efforts.

Having the information is only part of the battle. The key to success is how you apply the content. 

If we extend this all to the workplace, memorisation is generally a less valued skill. We can Google the answer or chat to a trusted colleague. Obviously there are exceptions — I can think of medicine and law — but should we be instilling in students the greater value of application versus remembering?

Where does the money come from? (Sources of Finance, HSC Business Studies steeze)

In the HSC Business Studies course, an important element is how a business finds the finance for its plans. 

In terms of the syllabus, this relates to the Influences on financial management, and the internal and external sources of finance. 

Look, you need to have a really in-depth understanding of the sources of finance. This is because the HSC Business Studies exam often asks you to compare and contrast different sources of finance.

Let’s take a look at an example form the 2018 NSW Business Studies HSC exam. This is Q24, part c — a five mark question from the short response focusing on finance. You can see the question below.

This is tha question. Click through for the exam and marking guide.

Pay attention to the wording of the question

In HSC exam questions, every word is deliberate. For this question, it can be tempting to just compare leases and mortgages. 

To elevate your response:

• Bring your points back to the business expanding into a larger factory. Connect your response to the stimulus and the language of the question. For example, if you want to expand BUT then business conditions worsen, what then? Are you locked in to the new premises?

• Notice how it says to “discuss” leases and mortgages? The secret code to “discuss” is to include the pros and cons of each.  

Strategies to answer this question

I’d be looking to divide up the question into two: one part to discuss leasing and the other for mortgages. It’s tricky having five marks on offer. But I’d still follow this pattern.  

I’d then suggest providing one pro and one con for each, providing an example to support the discussion.

For leasing 

One pro is that the business has FLEXIBILITY. If trading conditions change, the business can end its lease and go back to a smaller premises. It is much easier and cheaper to break a lease rather than a mortgage. To break a mortgage, you’d likely have to sell the property.

Another pro of leasing is that the property owner is responsible for all maintenance, including organising and paying for repairs. 

A con of leasing? After all these lease payments, the business does not have an asset to show for it. They do not own the factory, or even a piece of it. 

For mortgages

One pro is that, at the end of the mortgage, the business owns the asset outright. This will show up on the balance sheet and could then be sold if needed. 

Lots of cons to mortgages. They’re expensive, as the business needs to find a deposit, repay principal and interest, and cover fees associated with taking out loans. There’s a lack of flexibility, as outlined as a pro for leasing. And, as a property owner, you are responsible for the costs of maintenance. 

You can see more of my process in the video below.

Multiple choice questions: tricky or path to easy marks?

When it comes to Business Studies, students have to navigate 20 ‘multis’ as part of the HSC Exam. I tell students to spend 20 minutes, maximum, on this section. Don’t go over. You’re sacrificing valuable time on the more valuable sections!

But multis are difficult. You don’t have the opportunity to explain your response. You might be second guessing yourself the whole way through. You might encounter a really complex question that threatens to steal your time. 

So, here are some strategies specifically for Business Studies multis.

Tip one: Make it a 50/50

In my experience, Business Studies multis have two similar answers and two answers that have no ‘business’ being there. For every question, start by eliminating the least likely responses. Reduce the chances for mistakes.

Tip two: Do the work before you see the answer categories

Spend some time with the question before you peep the answer categories. Put down some ideas on the key ideas and the likely answers. Annotate the question. This will prime your brain to zoom in on the most likely responses when you do look at the categories. 

Tip three: Know your enemy

The most time consuming multis are the Finance questions. These have formulas, calculations and the chance of numerical errors. Know these questions will come up. Try and speed up the earlier questions and save valuable time for the Finance ones. Also, practice as many Finance multis as you can.

I’ve done a few walkthroughs for the Business Studies HSC exam. Check out my videos below. You’ll see my process in action.