HSC BUSINESS STUDIES SYLLABUS ACRONYMS

OPERATIONS
MARKETING
role of operations
role of operations
role of marketing
management
management
strategic role of marketing
strategic role of
goods and services
operations management
interdependence with
cost leadership,
other key business functions
good/service differentiation
production, selling,
goods and/or services in
marketing approaches
different industries
types of markets
interdependence with
resource, industrial,
other key business functions
intermediate, consumer,
mass, niche
influences
influences on marketing
globalisation, technology,
factors influencing
quality expectations, costcustomer choice
based competition,
psychological, sociocultural,
government policies, legal
economic, government
regulation, environmental
consumer laws
sustainability
deceptive and misleading
corporate social
advertising price
responsibility the
discrimination implied
difference between legal
conditions warranties
compliance and ethical
ethical truth, accuracy
responsibility
and good taste in
environmental sustainability
advertising, products that
and social responsibility
may damage health,
engaging in fair
competition, sugging

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F- PCEG
C-DWIP
E-PEST

operations processes
inputs transformed
resources (materials,
information, customers)
transforming resources
(human resources, facilities)
transformation processes
the influence of volume,
variety, variation in demand
and visibility (customer
contact) sequencing and
scheduling Gantt charts,
critical path analysis
technology, task design and
process layout monitoring,
control and improvement
outputs customer
service warranties

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marketing process
situational analysis
SWOT, product life cycle
market research
establishing market
objectives
identifying target markets
developing marketing
strategies
implementation,
monitoring and controlling
developing a financial
forecast; comparing actual
and planned results,
revising the marketing
strategy

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operations strategies
performance objectives
quality, speed,
dependability, flexibility,
customisation, cost
new product or service
design and development
supply chain
management logistics, ecommerce, global sourcing
outsourcing advantages
and disadvantages
technology leading edge,
established
inventory management
advantages and
disadvantages of holding
stock, LIFO (last-in-first-out),
FIFO (first-in-first-out), JIT
(just-in-time)
quality management
control assurance
improvement
overcoming resistance to
change financial costs,
purchasing new equipment,
redundancy payments,
retraining, reorganising
plant layout, inertia

marketing strategies
market segmentation,
product/service
differentiation and
positioning
products goods and/or
services branding
packaging
price including pricing
methods cost, market,
competition-based pricing
strategies skimming,
penetration, loss leaders,
price points price and
quality interaction
promotion elements of
the promotion mix
advertising, personal selling
and relationship marketing,
sales promotions, publicity
and public relations the
communication process
opinion leaders, word of
mouth
place/distribution
distribution channels
channel choice intensive,
selective, exclusive
physical distribution issues

7Ps + MEG

 global factors global

sourcing, economies of
scale, scanning and
learning, research and
development

transport, warehousing,
inventory
people, processes and
physical evidence
e-marketing
global marketing global
branding standardisation
customisation global
pricing competitive
positioning

FINANCE
role of financial management
strategic role of financial
management
objectives of financial
management profitability,
growth, efficiency, liquidity,
solvency short-term and
long-term
interdependence with other
key business functions
influences on financial
management
internal sources of finance
retained profits
external sources of finance
debt short-term borrowing
(overdraft, commercial bills,
factoring), long-term borrowing
(mortgage, debentures,

HUMAN RESOURCE MANAGEMENT

role of human resource
management
strategic role of human
resources
interdependence with other
key business functions
outsourcing human
resource functions using
contractors domestic, global
key influences
stakeholders employers,
employees, employer
associations, unions,
government organisations,
society
legal the current legal
framework the employment
contract common law (rights

unsecured notes, leasing)

equity ordinary shares (new
issues, rights issues,
placements, share purchase
plans), private equity
financial institutions banks,
investment banks, finance
companies, superannuation
funds, life insurance
companies, unit trusts and the
Australian Securities Exchange
influence of government
Australian Securities and
Investments Commission,
company taxation
global market influences
economic outlook, availability
of funds, interest rates

and obligations of employers

and employees), minimum
employment standards,
minimum wage rates, awards,
enterprise agreements, other
employment contracts
occupational health and safety
and workers compensation
antidiscrimination and equal
employment opportunity
economic
technological
social changing work
patterns, living standards
ethics and corporate social
responsibility

processes of financial
management
planning and implementing
financial needs, budgets,
record systems, financial risks,
financial controls debt and
equity financing advantages
and disadvantages of each
matching the terms and source
of finance to business purpose
monitoring and controlling
cash flow statement, income

processes of human resource

management
acquisition
development
maintenance
separation

statement, balance sheet

financial ratios liquidity
current ratio (current assets
current liabilities) gearing
debt to equity ratio (total
liabilities total equity)
profitability gross profit ratio
(gross profit sales); net profit
ratio (net profit sales); return
on equity ratio (net profit
total equity) efficiency
expense ratio (total expenses
sales), accounts receivable
turnover ratio (sales
accounts receivable)
comparative ratio analysis
over different time periods,
against standards, with similar
businesses
limitations of financial
reports normalised earnings,
capitalising expenses, valuing
assets, timing issues, debt
repayments, notes to the
financial statements
ethical issues related to
financial reports

financial management

strategies in human resource

strategies
cash flow management
cash flow statements
distribution of payments,
discounts for early payment,
factoring working capital
management control of
current assets cash,
receivables, inventories
control of current liabilities
payables, loans, overdrafts
strategies leasing, sale and
lease back
profitability management
cost controls fixed and
variable, cost centres, expense
minimisation revenue
controls marketing objectives
global financial management
exchange rates interest
rates methods of
international payment
payment in advance, letter of
credit, clean payment, bill of
exchange hedging
derivatives

management
leadership style
job design general or
specific tasks
recruitment internal or
external, general or specific
skills
training and development
current or future skills
performance management
developmental or
administrative
rewards monetary and
non-monetary, individual or
group, performance pay
global costs, skills, supply
workplace disputes
resolution negotiation,
mediation, grievance
procedures, involvement of
courts and tribunals

effectiveness of human
resource management
indicators corporate culture
benchmarking key variables
changes in staff turnover
absenteeism accidents

levels of disputation worker

satisfaction