Exam Practice - Model Answer P.12

Name: Julian Walter
Exam Practice: Doing your business in public
Date: 09/03/07

1. Q.Explain what is meant by privatisation. (2)
A. Privatisation is the sale of public sector organizations to the private sector. An example of this would be the sale the National electricity company Electro Peru to Chilean private investors.
(ALWAYS GIVE EXAMPLES)

2.Q. In what sector of industry would you put railtrack?(2)

A. Railtrack belongs to the private sector, as in the text it says 'some experts arguing it should have remained under state control, which in other words means it used to belong to the public sector and was run by the government. (JUSTIFY YOUR ANSWERS, BACK UP WHAT YOU SAY, SHOW THE EXAMINER WHAT YOU UNDERSTAND)

3.Q. What are Public-Private Partnerships?

A. PPP's are partnerships between the government and one or more companies from the the private sector. They are set up inorder to add funding to expensive, generally national, projects. An example of this would be the construction of the Trans-American Interoceanica from Brazil to Peru, which is being built by the Peruvian government and Brazilian private roadbuilders. (ALWAYS GO THE EXTRA MILE IN ANSWERING YOUR QUESTIONS)

4.Q. Explain how a rail operator might attempt to add value to its products.
A. A rail operator might add value by looking to provide a more comfortable service, with better seats. They could offer free drinks or magazines for the customers to read. They might also want to provide high class food in the buffet car. It is important that the customer perceives that they are receiving value for money and that the people working within the company are providing value added services.

5.Q. What might the advantages and potential drawbacks of selling Royal Mail to the private sector?
A. If the Royal Mail is privatised then there will obviously be both advantages and disadvantages. I will begin the potential advantages first. Firstly there will be an incentive to make the company more efficient as the company will then be profit orientated. Investors will have to make it more efficient, so hopefully customers will receive their post more quickly. From a customers point of view, with the arrival of competition, prices should hopefully be brought down in price.
Drawbacks could include the removal of essential yet loss making services that were previoulsy arranged by the Rail Mail. As has happened in privatisation, the price of the service may actually increase. Shareholders interests will now become more important than before because they, the private investors, will be looking to get a return on their investment.
In conclusion there are many advantages and disadvantages but in my opinion if the Royal Mail is to progress with the current trend in global business then it would probably be a good idea to privatise as they will become more compeitive and might be in danger of being overtaken by more efficient companies such as DHL.

TRY AND GIVE A BALANCED ANSWER, ALWAYS COUNT THE NUMBER OF POINTS IN THE QUESTION.
A GOOD RULE OF THUMB IS THAT YOU SHOULD MENTION AT LEAST ONE PIECE OF INFORMATION PER TWO POINTS.
THIS SHOULD HELP YOU IN THE FUTURE

Glossary of Command Words Part One

Students. in Business as in any subject you are learning you need to understand what certain academic words mean. If you can understand them then this will allow you to answer the question more completely or on the other hand not answer the question in such detail as you may have thought.
Here are a list of the words that you will see timea nd time again in your exams and preparation for the IB. Really Really understand these words and you will find that the academic universe will not seem so big. I broke it down into two parts so as not to bore the socks off you or me.


Analyse: Break down in order to bring out the essential elements, structure, any underlying assumptions and any interrelationships involved.
Example: Analyse the impact of external opportunities and threats on the business strategy of company A.

Compare: Describe two (or more) situations and present the similarities between them.
Example: Compare the benefits of adopting LIFO with those of FIFO.

Contrast: Describe two (or more) situations and present the differences between them.
Example: With reference to the impact on profit, contrast the FIFO method of stock valuation with the LIFO method of stock valuation.

Define: Give a clear and precise meaning of a given word, term or concept.
Example: Define the term “stakeholder”.

Describe: Present the characteristics of a particular topic.
Example: Describe company X’s corporate culture.

Discuss: Offer a considered and balanced review of a particular topic. Opinions or conclusions should be presented clearly and supported by empirical evidence and sound argument.
Example: Discuss how the introduction of an employee share-ownership scheme could affect motivation for employees of company X.

Distinguish: Make clear the differences between two or more concepts/terms.
Example: Distinguish between variable costs and fixed costs.

Evaluate: Make an appraisal by weighing up the strengths and limitations of different evidence and arguments.
Example: Evaluate the option of accelerating company X’s overseas development through the use of franchising or joint ventures.

Examine: Consider an argument or concept in a way that uncovers the assumptions and interrelationships of the issue.
Example: Examine company X’s present marketing approach in the light of changes in the external environment.

Explain: Describe, giving reasons.
Example: Explain why company X has changed its pricing strategy.

Identify: Recognize and state briefly a distinguishing fact or feature.
Example: Identify two reasons why the owner has chosen a particular method of investment appraisal.
Justify: Provide evidence to support or defend a choice, decision, strategy or course of action.
Example: Justify your reasons for introducing an extension strategy for product X.

To what extent: Evaluate the success or otherwise of an argument or concept. Opinions and conclusions should be presented clearly and supported with empirical evidence and sound argument.
Example: To what extent was the marketing strategy of company X successful?

INTERNAL ASSESSMENT CHECK LIST

Your assignment should check with the following information:
You have each of these marked off perfectly your teacher should give you 20 out of 20.
If you follow everything to the letter, the teacher has no option but to give you the marks
It's all about rubrix, our lives are all about rubrix. Can you fit in this box????

RESEARCH

1. TOPIC RELEVANT TO PRESCRIBED LIST
2. IS THERE A RELEVANT RESEARCH QUESTION?
3. IS IT CLEAR AND FOCUSED?
4. IS THE WRITTEN ASSIGNMENT SET IN THE CONTEXT OF A REAL ISSUE OR PROBLEM?
5. HAVE ISSUES OF CONFIDENTIALITY AND ETHICS BEEN DISCUSSED?
6. IS THE RESEARCH RELEVANT TO THE RESEARCH QUESTION?
7. IS THERE SUFFICIENT BACK GROUND DATA?

B: CHOICE AND APPLICATION OF BUSINESS THEORY TOOLS AND TECHNIQUES, IS THERE EVIDENCE OF:

1. A GOOD CHOICE OF EXAMPLES
2. EFFECTIVE APPLICATION FOR THE ANALYSIS


C: ANALYSIS & EVALUATION

1. IS THERE EVIDENCE OF PROBING ANALYSIS AND EVALUATION
2. IS THE INTEGRATION OF IDEAS AND ISSUES: A)LOGICAL; B)COHERENT;
C)ORGANIZED
3. IS THERE EVIDENCE OF CRITICAL AND REFLECTIVE THINKING?


D: CONCLUSIONS AND RECOMMENDATIONS

1. ARETHECONCLUSIONS AND RECOMMENDATIONS CLEAR
A) CLEAR?
B) CONSISTENT WITH THE EVIDENCE PRESENTED?
C) DIRECTLY RELEVANT TO THE RESEARCH QUESTION?
2. ARE ANY UNANSWERED QUESTIONS FULLY ACKNOWLEDGED WITH PROPOSALS FOR FUTURE ACTION?

E: OVERALL IMPRESSION
1. IS THE ASSIGNMENT IN THE REQUIRED FORMAT (INCLUDING WORD LIMIT 1000 -1500)
2. ARE THERE APPENDICES?
3. IS THE INFO USED IN THE APPENDICES APPROPRIATE TO THE WRITTEN ASSIGNMENTS
4. IS REFERENCING ACCURATE CONSISTENTLY USED AND IN A RECOGNIZED FORMAT?
5. IS THE WRITTEN ASSIGNMENT PRESENTED TO A HIGH STANDARD?
6. IS THERE EVIDENCE OF:
COMMITMENT AND ENGAGEMENT
DEPTH OF UNDERSTANDING AND FLAIR
and finally
HAS THE RESEARCH QUESTION BEEN ANSWERED?

Welcome Back IB1 & IB2 Business

Good day to you reading this blog for the first time and welcome back those who have before
I will quickly go over what the aim is here.
I would like you to consider this as another tool in which Mr W may aid you in achieving the maximum grade in the subject, most poular in the school.
I will be going over the syllabus as we go through the course.

IB1

In IB1 we are discussing an introduction to Business, and what is added value?
Why do you pay more for a pair of Levis jeans than a pair from topytop.
Remember, what I told you about in class, this year we will not only be learning Business, but also English as well as how to Learn how to Learn. BUSINESS ENGLISH LEARNING is how I want you to think of the course. If your English improves then your understanding of the course improves and the ability to think more clearly also. Also, if you understand why you are learning then you can understand the actual value of the lesson your teacher is hopefully giving you.

Please feel free to send me comments and suggestions on ways in how we can improve the course itself, I am always open to suggestions as its your time as well as mine in the classroom so don't forge that.

I gave you the outline of the course this term, start thinking about a product you want to set up and sell at the Kermesse which is the same time as last year. End of June, Fathers day time.
I want to do better than last year, and there is no reason that we can't.

IB2

Hi chaps and chappesses

Good to have you back from your long holiday. This is your big year to show what geniuses you are to the whole world. You have the opportunity to do this so don't waste it.
This is the way the first 4 weeks of the term are going to work. Half the week (on Mondays)we will be doing the internal, each week you will receive a commitment grade, indicating the level of work you have done for the assignment. The first week you have an excuse after that there is none. If you bring nothing new to your assignment, your grade will be a 5...... The more you contribute the higher your grade will be.
Internal Assessment Requirments
here will direct you to what you should be looking at.
Failure to finish the final draft by the end of March ensures you will not be taking the IB exam.
Make Mr W a happy man and complete your work, the earlier the better I can correct it and give it back to you for corrections.
Remember to organize yourself well this year, and learn to get loads of sleep, as you will need it in the runup to the exams in November.
Suerte!
Mr W