SAMPLE ASSESSMENT TASKS

BUSINESS MANAGEMENT AND ENTERPRISE GENERAL YEAR 11

Copyright

© School Curriculum and Standards Authority, 2014

This document – apart from any third party copyright material contained in it – may be freely copied, or communicated on an intranet, for non-commercial purposes in educational institutions, provided that the School Curriculum and Standards Authority is acknowledged as the copyright owner, and that the Authority’s moral rights are not infringed.

Copying or communication for any other purpose can be done only within the terms of the Copyright Act 1968 or with prior written permission of the School Curriculum and Standards Authority. Copying or communication of any third party copyright material can be done only within the terms of the Copyright Act 1968 or with permission of the copyright owners.

Any content in this document that has been derived from the Australian Curriculum may be used under the terms of the Creative Commons Attribution-NonCommercial 3.0 Australia licence

Disclaimer

Any resources such as texts, websites and so on that may be referred to in this document are provided as examples of resources that teachers can use to support their learning programs. Their inclusion does not imply that they are mandatory or that they are the only resources relevant to the course.

2014/30828v3

1

Sample assessment taskBusiness Management and Enterprise – General Year 11Task 3 – Unit 1

Assessment type: Business research

ConditionsPeriod allowed for completion of the task: 3 weeksSome class time will be used.

Task weighting10% of the school mark for this pair of units

__________________________________________________________________________________

1. Select a newspaper or other article that focuses on a successful entrepreneur and that addresses the questions below. Acknowledge the source of the article. (2 marks)

2. Read the article you have selected and answer the following questions which focus on entrepreneurship, innovation, business growth and success.

(a) Describe the business idea/opportunity on which the entrepreneur acted. (2 marks)

(b) List two (2) other ideas/opportunities considered by the entrepreneur. (2 marks)

(c) Explain two (2) reasons for establishing the business. (4 marks)

(d) Explain how the entrepreneur dealt with one (1) of the following issues affecting business success (or failure): cash flow market research business planning. (3 marks)

(e) List four (4) common sources of business finance. (4 marks)

(f) Describe the main source of finance used by the entrepreneur. (2 marks)

(g) Explain the meaning of innovation. (2 marks)

(h) Explain the relationship between business growth and innovation. (3 marks)

(i) State three (3) issues regarding ethical practice in the business macro (external) environment (3 marks)

(j) Explain how the entrepreneur dealt with one (1) issue regarding ethical practice.

(3 marks)

3. Compare your answers for your entrepreneur with those of another class member who has selected a different entrepreneur. Identify and explain two (2) findings which are similar. (6 marks)

Total = 36 marks

Sample assessment tasks | Business Management and Enterprise | General Year 11

2

Sample assessment tasks | Business Management and Enterprise | General Year 11

3

Marking key for sample assessment task 3 – Unit 11. Select a newspaper or other article that focuses on a successful entrepreneur and that

addresses the questions below. Acknowledge the source of the article.

Description MarksProvides a relevant article and acknowledges source 2Provides a relevant article 1

2. (a) Describe the business idea/opportunity on which the entrepreneur acted.

Description MarksClearly describes the idea/opportunity 2Names the idea/opportunity 1Answer will vary depending on the article selected but could include, and is not limited to:• identifies the potential for developing or providing a product or service or process that was not currently

available• focusses on a product or service or process that existed but which could be improved

(b) List two (2) other ideas/opportunities considered by the entrepreneur.

Description MarksLists idea/opportunity 1–2

(1 mark each)Answer could include, but is not limited to:Any other product or service or process considered by the entrepreneur

(c) Explain two (2) reasons for establishing the business.

Description MarksReason 1Clearly explains the reason for establishing the business 2States a reason for establishing the business 1

Subtotal 2Reason 2Clearly explains the reason for establishing the business 2States a reason for establishing the business 1

Subtotal 2Total 4

Answer will vary depending on the article selected but could include, and is not limited to:• using skills and knowledge for own advantage not another employer• making use of possible tax advantages depending on the type of business and structure• protecting the environment by engaging in ethical environmental business practices• engaging in a challenging and interesting type of employment• seeking recognition for creating a new business• job security• creating jobs for others

Sample assessment tasks | Business Management and Enterprise | General Year 11

4(d) Explain how the entrepreneur dealt with one (1) of the following issues affecting business

success (or failure): cash flow market research business planning.

Description MarksClearly explains how the business dealt with the issue 3States how the business dealt with the issue 2States the issue but doesn’t make the link to how the business dealt with it 1Answer will depend on the article selected• cash flow: for a business to function effectively and succeed it needs to ensure that there always is

sufficient cash flow to allow it to cover expenses and repayment and unexpected situations such as when creditors don’t pay on time and fluctuations in sales or revenue

• market research: before starting the business the owner needs to know if there is a market for what is going to be provided because if there isn’t it’s very unlikely the business will be successful

• business planning: planning is needed to ensure the business’s proposed activities can be carried out profitably and that there is sufficient capital to establish and maintain the business. Research indicates that the biggest factor contributing to business failure is poor planning

(e) List four (4) common sources of business finance.

Description MarksLists appropriate sources of finance 1–4

(1 mark each)Answer could include but is not limited to:• personal savings• finance from friends and relatives• credit cards• short-term loans, such as loans for 12 months or less, from banks or lending institutions• long-term loans, such as mortgages, from banks or lending institutions• bank overdrafts

(f) Describe the main source of finance used by the entrepreneur.

Description MarksClearly describes the main source of finance used by the entrepreneur 2Names the source of finance used by the entrepreneur 1Answer will depend on the article selectedForm of internal source or external source of finance

(g) Explain the meaning of innovation.

Description MarksClearly explains the meaning of innovation 2States the meaning of innovation 1Answer could include, but is not limited to:Innovation refers to the creation or formulation of an idea for something new, or something that can be improved, that can satisfy a need or a want and can be provided in a cost effective way. Generally, innovation is associated with being creative and using initiative in the provision of a product or service.

Sample assessment tasks | Business Management and Enterprise | General Year 11

5(h) Explain the relationship between business growth and innovation.

Description MarksClearly explains the relationship between business growth and innovation 3States the relationship between business growth and innovation 2States the terms but does not describe the relationship between business growth and innovation 1

Answer could include, but is not limited to:A business that promotes innovation i.e. recognises the potential of new ideas for products and services that can be provided in a cost effective way, is more likely to encourage its employees to be creative and engage in the business, thereby growing the business. The link between business growth and innovation is that the innovation leads to increased productivity and increase in the share of a particular market i.e. business growth.

(i) State three (3) issues regarding ethical practice in the business macro (external) environment.

Description MarksState issues regarding ethical practice in the business macro (external) environment. 1–3

(1 mark each)Answer could include, but is not limited to:• economic issues such as, consumer spending, interest rates, inflation• government regulations, laws and policies such as, trading hours, minimum wages, OSH• new and changing technologies such as, digital technologies• consumer trends such as, organic foodstuffs, local produce• natural environment such as resource (water and land) usage

(j) Explain how the entrepreneur dealt with one (1) issue regarding ethical practice.

Description MarksStates the issue and clearly explains how the entrepreneur dealt with it 3States the issue and gives a general description of how the entrepreneur dealt with it 2States the issue but doesn’t indicate how the entrepreneur dealt with it 1Answer will depend on the entrepreneur selected

Sample assessment tasks | Business Management and Enterprise | General Year 11

63. Compare your answers for your entrepreneur with those of another class member who has

selected a different entrepreneur. Identify and explain two (2) findings which are similar.

Description MarksCommon finding 1Identifies a common finding and provides a detailed explanation 3Identifies a common finding and describes it 2Identifies a finding and provides no explanation 1

Subtotal 3Common finding 2Identifies a common finding and provides a detailed explanation 3Identifies a common finding and describes it 2Identifies a finding and provides no explanation 1

Subtotal 3Total 6

Common findings may relate to: innovation for similar types of product or service types of finance used reasons for establishing the business ethical practice issues in the macro environment cash flow issues market research business planning

Sample assessment tasks | Business Management and Enterprise | General Year 11

7

Sample assessment taskBusiness Management and Enterprise – General Year 11Task 10 – Unit 2

Assessment type: Response

ConditionsTime for the task: 50 minutes In class, conducted under test conditions.

Task weighting10% of the school mark for this pair of units

__________________________________________________________________________________

1. Name two (2) examples of source documents and explain why businesses should use each source document. (4 marks)

Document 1: ________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Document 2: ________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

2. Explain how each of the following methods can be used to monitor business activities:

customer databases sales data debt cash. (8 marks)

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Sample assessment tasks | Business Management and Enterprise | General Year 11

8__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

3. List two (2) examples of simple cash records kept by a business and provide the purpose of each one. (4 marks)

Record 1: _________________________________________________

Purpose

:_________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________

Record 2: _______________________________________________

Purpose

:_________________________________________________________________________________

__________________________________________________________________________________

___________________________________________________________________________

Sample assessment tasks | Business Management and Enterprise | General Year 11

94. Explain four (4) main aspects of the role of a manager in operating a business. (8 marks)

Aspect 1:

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Aspect 2:

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Aspect 3:

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Aspect 4:

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

5. (a) Explain the concept of risk management in the context of the operation of a small to medium enterprise (SME). (2 marks)

__________________________________________________________________

__________________________________________________________________

__________________________________________________________________

__________________________________________________________________

Sample assessment tasks | Business Management and Enterprise | General Year 11

10(b) Select from the following list the two (2) most effective risk management strategies for a

SME business: (2 marks) recruiting predicting losses employee training calculating profits insurance forecasting.

(c) Justify your choice of strategies. (4 marks)

Strategy 1: _____________________________________

Justification: __________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Strategy 2: _____________________________________

Justification: __________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

6. (a) Calculate the profit for the period using the appropriate items in the financial extract below. Show all workings. (7 marks)

Income statement (extract) for the year ended 30 June 2016

$SalesAdvertising expenseInterest incomeWages paidBank charges paidFees revenueCash at bank

60,0004,0005,0001,000

5008,000

10,000Workings:

Profit for the year ended 30 June 2016 _________________________________________

Sample assessment tasks | Business Management and Enterprise | General Year 11

11(b) Did you include all items in the financial extract to calculate profit? Justify your answer.

(1 mark)

Yes, all items were included

No, all items were not included

Justification: ________________________________________________________________

____________________________________________________________________________

____________________________________________________________________________

___________________________________________________________________________

Total = 40 marks

Sample assessment tasks | Business Management and Enterprise | General Year 11

12

Marking key for sample assessment task 10 – Unit 21. Name two (2) examples of source documents and explain why businesses should use each

source document.

Description MarksProvides two relevant examples of source documents 2Provides one relevant example of a source document 1

Subtotal 2Explains why each source document should be used by a business 2States why each source document should be used by a business 1

Subtotal 2Total 4

Answer could include, but is not limited to:Source documents provide evidence that a transaction took place contain details of the transactions, for example, date, amount, the reason, from whom, to whom protect a business from paying twice for items because there is evidenceExamples of source documents order forms tax invoice

2. Explain how each of the following methods can be used to monitor business activities: customer databases sales data debt cash.

Description MarksCustomer databasesExplains how the item is used to help monitor business activities 2States how the item is used to help monitor business activities 1

Subtotal 2Sales dataExplains how the item is used to help monitor business activities 2States how the item is used to help monitor business activities 1

Subtotal 2DebtExplains how the item is used to help monitor business activities 2States how the item is used to help monitor business activities 1

Subtotal 2CashExplains how the item is used to help monitor business activities 2States how the item is used to help monitor business activities 1

Subtotal 2Total 8

Sample assessment tasks | Business Management and Enterprise | General Year 11

13Answer could include, but is not limited to:Customer databases are digital and contain records of customer details and characteristics such as demographics, geographic

locations help to determine spending patterns of customersSales data records what customers purchased and when – the information can be used to develop advertising and

marketing strategies to attract current and future customers sales data allows a business to target customers who may need additional products and services to

support their purchases, for example, customers who purchased clothing may be interested in accessories to match

Debt debt allows the business to acquire assets over time and can be advantageous to the business income

provided the debt level is controlled and monitored debt repayment should be manageable and pre-empted wherever possible to avoid increasing levels of

accumulated debtCash a healthy cash flow enables the business to meet debts when they fall due if creditors are slow in repaying their accounts, cash allows the business to cope with the shortfall in the

short term

3. List two (2) examples of simple cash records kept by a business and provide the purpose of each one.

Description MarksLists examples of simple cash records 1–2

(1 mark per example)Provides the correct purpose of the cash record listed 1–2

(1 mark per purpose)Total 4

Answer could include, but is not limited to:Examples of simple cash records and their purpose:• receipts – purpose is to have a record of all amounts received by a business• bank deposit slips – purpose is to have a record of all amounts deposited into the business bank account• simple business bank reconciliation – purpose is to check the bank records against the business records

and to correct any discrepancies

4. Explain four (4) main aspects of the role of a manger in operating a business.

Description MarksAspect 1: planningExplains the aspect 2States a fact about the aspect 1

Subtotal 2Aspect 2: organisingExplains the aspect 2States a fact about the aspect 1

Subtotal 2Aspect 3: leadingExplains the aspect 2States a fact about the aspect 1

Subtotal 2

Sample assessment tasks | Business Management and Enterprise | General Year 11

14Aspect 4: controllingExplains the aspect 2States a fact about the aspect 1

Subtotal 2Total 8

Answer could include, but is not limited to:Planning• planning the operation and/or function of the area over which the manager is responsible• setting goals and timelines so that business goals for which the manager is responsible are achievedOrganising• organising items such as the work, workforce, training, and resources necessary, so that the business

goals are metLeading leading people, being responsible for leadership and providing direction for a segment of work, or a

sub-section or a functional area of the business to achieve business goalsControlling controlling activities, setting standards, foreseeing possible hurdles, measuring the actual performance

and taking corrective action so that standards are maintained and business goals achieved

5. (a) Explain the concept of risk management in the context of the operation of a small to medium enterprise (SME).

Description MarksExplains the concept of risk management 2States a fact about risk management 1Answer could include, but is not limited to:Having a risk management strategy ensures that the business has strategies in place and is safeguarded against any actions or decisions or events caused by the business itself or others that could adversely affect the business.

(b) Select from the following list the two (2) most effective risk management strategies for a SME: recruiting predicting losses employee training calculating profits insurance forecasting.

Description MarksIdentifies the most effective risk management strategies 1–2

(1 mark for each strategy)Answeremployee traininginsurance

Sample assessment tasks | Business Management and Enterprise | General Year 11

15(c) Justify your choice for each selected strategy.

Description MarksStrategy 1Explains a reason for selection and links to risk management 2States a reason for selection but does not link to risk management 1

Subtotal 2Strategy 2Explains a reason for selection and links to risk management 2States a reason for selection but does not link to risk management 1

Subtotal 2Total 4

Answer could include, but is not limited to:Justification for employee training enables employees to work more efficiently and more productively, thereby contributing to business

productivity and reducing risk of loss of income for the business improves employee self-esteem and self-confidence to undertake their work so employees can more

confidently perform their tasks, which in turn contributes to business security and productivityJustification for insurance business is protected against any unforeseen event or circumstance that could negatively impact on the

business financially or otherwise, and could receive compensation if such events or circumstances occur

6. (a) Calculate the profit for the period using the appropriate items in the financial extract below. Show all workings.

Description MarksCalculates the profit amount (as shown in workings below) 1–7

(1 mark for each item shown in the workings)

Answer could include, but is not limited to:Sales $60,000 (1)Add Interest income 5,000 (1)Add Fees revenue 8,000 (1) $73,000LessAdvertising expense $4, 000 (1)Wages paid 1,000 (1)Bank changes 500 (1) 5,500PROFIT $67,500 (1)

(b) Did you include all items in the financial extract to calculate profit? Justify your answer.

Description MarksIdentifies that not all items were included and provides a justification 1Answer could include, but is not limited to:Cash at Bank was not included because profit is calculated by considering income and expenses. All relevant expenses (payments, charges) for the period are deducted from all forms of income (sales, fees, revenue) for the period, resulting in either a profit or a loss and excludes Cash at bank because it is neither an income nor an expense, it is classified as a current asset.

Sample assessment tasks | Business Management and Enterprise | General Year 11