Applying Business Theory to Real and Hypothetical Businesses

The greatest gift (and the most exciting part) of the Business Studies course is learning about a huge variety of businesses - both the successes and the failures.

Business theory stays the same but how it applies to individual businesses can be VERY different, depending upon the nature and features of the business. To excel in the course (and in business once you graduate), you need to imagine details about how particular businesses operate and draw really detailed links between the content of the course to a huge range of businesses- both real and hypothetical. 

To do this requires practice and training.

You may have noticed that the Preliminary and HSC exams ALL refer to a range of hypothetical businesses. 

• Section I (Multiple choice) refers to hypothetical business scenarios for individual or multiple questions.

• Section II (Short response) questions have short business scenarios at the top you need to refer to. 

• Section III (Business report) has a detailed hypothetical business scenario that you need to address.

• Section IV (HSC Exam only - Case Study Question) requires you use real case studies in an extended response.

This means that MOST of the 100 marks of the exam require you to APPLY business theory. 

Remember - about a third of the course time should be spent learning and imagining how theory applies.

Here's two main ways to get good.