2019HSCExtended response

Q25

20 marks

Question

A business, Roo’s Outback Eatery Pty Ltd, is opening an additional restaurant in NSW. They plan to position the restaurant as an exclusive restaurant specialising in modern Australian food with quality customer service. The owners require assistance with the following:
• the acquisition and development of suitable staff
• additional funds for the day-to-day running of the business
• the close monitoring of working capital.
You have been hired as a consultant to write a report for the owners. In your report:
• discuss methods this business could use in the acquisition and development of staff
• recommend TWO appropriate working capital management strategies for this business.

Try the question before revealing the answer.

Solution

Criteria	Marks
Provides detailed points for and/or against methods this business could use in the acquisition and development of staff<br>Provides detailed reasons in favour of TWO appropriate working capital management strategies<br>Makes effective use of the information provided, demonstrating extensive knowledge and understanding relevant to the question<br>Presents a sustained, logical and cohesive business report integrating relevant business terminology and concepts	17–20
Provides points for and/or against methods this business could use in the acquisition and development of staff<br>Provides reasons in favour of TWO appropriate working capital management strategies<br>Makes some use of the information provided, demonstrating some knowledge and understanding relevant to the question<br>Presents a logical and cohesive business report using relevant business terminology and concepts	13–16
Provides characteristics and features of the methods this business could use in acquisition and/or development of staff<br>Provides characteristics and features of working capital management OR reasons for ONE working capital management strategy<br>Includes features of a business report and uses some business terminology and concepts	9–12
Sketches in general terms Human Resource Management<br>Sketches in general terms a financial strategy/strategies<br>May include some features of a business report and uses basic business terminology	5–8
Provides some relevant information about Finance and/or Human Resources Management<br>Uses basic business terminology	1–4

Answers could include:

Acquisition
Development
Job design – general or specific tasks
Recruitment – internal or external, general or specific skills
Training and Development – current or future skills
Performance management – development or administration
Cash-flow statements
Distribution of payments, discounts for early payments, factoring
Working capital management
- Control of current assets – cash, receivables, inventories
- Control of current liabilities – payables, loans, overdrafts
- Strategies – leasing, sale and lease back.

Supplied marking guidance · human reviewed

Compare this with your working, not only your final sentence.

Syllabus alignment

FinanceHuman resources

Working capital managementExplain control of current assets and liabilities and strategies including leasing and sale and lease back.
Development, performance and rewardsExplain training and development, developmental and administrative performance management, and monetary, non-monetary, individual, group and performance rewards.
Leadership, job design and recruitmentExplain leadership styles, general and specific job design, and internal and external recruitment for general or specific skills.
Human resource processesAnalyse acquisition, development, maintenance and separation processes.

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