Integrating BUSS3 and the BUSS4 research theme Integrating BUSS3 and the BUSS4 research theme • With no January BUSS3 sitting an opportunity exists to start early with the BUSS4 research theme in terms of both content as well as exam technique • Certain topics within the BUSS3 specification lend themselves nicely to ‘drip-feeding’ elements of the research theme along with introducing key elements of essay technique in particular paragraph development Key will be keeping China near the ‘front’ of students minds throughout BUSS3 without switching students off BUSS3 and BUSS4 integrated Using objectives and strategy Relationship between functional objectives, corporate objectives and strategy A key corporate objective might be to reduce dependency on one market in order to spread the risk therefore a strategy maybe to focus on moving into a growing emerging economy such as China Ikea to Accelerate China Store Openings to Shift Away From European Gloom BUSS3 and BUSS4 integrated Financial Strategies and Accounts Making investment Decisions Setting up a production facility or sales outlets in China is a significant investment decision and therefore investment appraisal could be used to find out the ‘least cost’ site US firms reshoring from China BUSS3 and BUSS4 integrated Financial Strategies and Accounts Raising Finance and Capital Expenditure Setting up a production facility or sales outlets in China is a major capital expenditure and would also need significant finance. How will the firm raise it? An evaluation of the best source of finance L’Oreal seeks more China glow with $840 million bid for China skincare firm BUSS3 and BUSS4 integrated Marketing Strategies Market Analysis A detailed analysis of the Chinese economy and demographic data can help identify potential opportunities and help gather evidence for a new strategy The rising middle class fuels hotel boom in China Fonterra pushes on with own brand China plan BUSS3 and BUSS4 integrated Marketing Strategies Selecting Marketing Strategies Using Ansoff's Matrix as a model for analysing and evaluating the potential risks and rewards of ‘moving’ into China Tesco in potential joint-venture with China Resources Enterprise Starbucks long-term investment in the Chinese Coffee Shop Market BUSS3 and BUSS4 integrated Marketing Strategies Low cost versus differentiation Using Porter as a model for analysing and evaluating the potential threat that China poses other businesses in being able to manufacture products at a much lower cost Chinese imports threaten Kenya’s textile industry BUSS3 and BUSS4 integrated Marketing Strategies Marketing Plans Using an example of a business considering expanding into China as a vehicle to teach the concept of marketing plans, in particular, the influences on the success of the marketing plan (brand perception may not be as strong in china than in the home market for example) Starbucks long-term investment in the Chinese Coffee Shop Market BUSS3 and BUSS4 integrated Operational Strategies Choosing the right scale of production: economies and diseconomies of scale China has the worlds largest population and a middle class population larger than the entire population of America giving the possibility of huge economies of scale YUM! China BUSS3 and BUSS4 integrated Operational Strategies Location Issues relating to international location BUSS3 specification makes specific reference to exploring the reasons for international location which include global markets, cost reduction and avoidance of trade barriers which links nicely to the 4th bullet Microsoft forms joint-venture with BesTV Why Apple has to manufacture in China How IKEA adapted its strategies to expand into China BUSS3 and BUSS4 integrated Human Resource Strategies Developing and implementing workforce plans Using a business expanding into China as a context for determining the future needs of the workforce and developing a workforce plan The war for talent in China Developing BUSS4 Exam Skills through BUSS3 (and BUSS1/ BUSS2) ‘It’s a marathon, not a sprint’ An essay is simply a collection of strong and well developed paragraphs BUSS3 Examiners Report – June 2013 ‘students who were able to make selective, well developed arguments which were consistently focused on the question scored high for analysis’ BUSS3 Examiners Report – June 2013 ‘In preparing for this unit, centres should stress the importance to their students of planning their answers, being selective in the number of arguments made and ensuring that each argument is well supported’ The Operations Director considers that it will take at least 15 weeks to design and test the new website. In the light of his concerns, assess the value of using critical path analysis for planning the car club proposal. Use numerical evidence to support your answer (18 marks) Definition of Path Analysis Critical One reasons why critical path analysis might be valuable in planning the car club proposal is However, a reason why critical path analysis may be of less value when planning the proposal is Overall , I feel that Connectives for BUSS3/ BUSS4 Involves giving students the beginning of a paragraph and then supplying the students with a range of suitable connectives and some relevant source material Students then produce a paragraph using the beginning as supplied by the teacher, the connectives and the source material Practising strong paragraphs allows students to develop the skill of making clear, well developed arguments, supported by relevant source material, with analysis drawn from it Example of a connectives activity in relation to the current research theme Analyse ONE reason why IKEA have decided to expand into China (13) Ikea Group, the world’s largest furniture retailer, will triple the pace of store openings in China to capture faster growth in the second-largest economy, Chief Executive Officer Mikael Ohlsson said. China has the worlds largest population The expansion in China will allow the company to reduce its reliance on Europe The European Economy is currently experiencing falling consumer confidence 80% of IKEA’s sales come from Europe The demand is there,” said the Swedish executive, sitting in a living-room display at the company’s Amsterdam store. Customers in the world’s most populous nation have “the dream, the wish, the need to furnish and the fit with Ikea is very good. One reason why IKEA has targeted China as a market to expand into is….. (connectives are like seasoning, they can be used more than once!) Worlds largest population European economy = falling confidence 80% IKEA sales come from Europe Ansoff Demand ‘Therefore’ ‘Because’ ‘This means that’ ‘Which in turn’ Assessing students paragraphs My Ten Year Old Brother My Ten Year Old Brother is a teaching and learning strategy from ‘Lessons are for learning’ by Mike Hughes It is a technique designed to develop analysis My Ten Year Old Brother 1 The teacher asks a student to explain a concept or argument to a fictitious 10 year old brother 2 Students in pairs taking turns to be the 10 year old whilst the teacher circles My Ten Year Old Brother The activity forces students to explain concepts in depth especially if the imaginary brother throws in the inevitable ‘how’, ‘why’, ‘what's that mean’ C O N N E C S N O I T Reset colours Set board Start Click to start A Grade Evaluation A Grade Evaluation GOOD Evaluation directly answers the question set AND provides a clear and overall response to the question as well as being built on prior analysis REASONABLE Evaluation often addresses some part of the question but often fails to fully address the question set DevelopingEvaluation Evaluation Skills Developing Skills Better questioning in lessons by asking students evaluative questions or probing further with words such as ‘how’ and ‘why’ Encouraging students to re-read the question BEFORE writing their evaluation Planning their arguments AND their evaluation before they start to write Group and collaborative learning activities that require students to work together and justify responses Developing Evaluation Skills (in lessons) Developing Evaluation Skills When using case studies or written material in lessons encourage students to spend 3 or 4 minutes (after they have read it) picking out: • The most significant issue • The most significant point • The biggest opportunity • The biggest risk Then ask students to explain WHY Four Corners Four Corners is a powerful activity that encourages higher order thinking and helps students ability to evaluate. It is also excellent for collaborative learning giving students an opportunity to review and reflect on other students thoughts, views and opinions • At the start of the lesson label the four corners of the room with: – Strongly Agree – Agree – Disagree – Strongly Disagree • Then read out a definitive statement that forces students to make a decision The slowdown of the Chinese economy is the biggest threat to businesses currently operating in China A joint venture is the best way of entering the Chinese market • After the statement has been read out then the students need to write down whether they strongly agree, agree, disagree, strongly disagree and a brief justification as to why they chose that option and why they rejected the others • Once that has taken place the students then need to move to their relevant corner Developing Evaluation Skills (in exams) Developing Evaluation Skills Trying to encourage students to find the MOST SIGNIFICANT POINT/ ARGUMENT and then using that as the basis for their final evaluation/ conclusion Teaching the Research Theme and Further Exam Skills Common Section A issues • Not focusing on and losing sight of the question • Lack of fully developed arguments • Students not discriminating in their choice of arguments (students MUST be selective) • Lack of planning • In general, poor essay writing skills (points 1 – 3 linked) Principal Examiners Advice Students should ask themselves: • WHAT is the precise question I am answering? • WHAT answer do I want to give? • HOW do I explain and support my arguments Students need to focus on the analytical arguments and THEN think of how they can provide evidence Students should spend time choosing the right question and plan how they want to answer it An opening paragraph with a clear focus on the question set, outlining the key arguments and the key issues can work wonders for setting the scene (Probably) the two most important words to help students achieve better marks WHY? HOW? The use of case studies in lessons should be used to build arguments (why) not to be repeated as stories The Jan 2010 Examiners Report Themes from the Examiners Report (Applied) Many students lacked the knowledge of how cultures might be different, that there may be political or legal issues when trading with (China) One might reasonably expect students to know whether or not the Chinese currency is weak or strong, what ACTUAL cultural barriers exist, what the state of the economy is and the key demographic issues It is NOT enough to say that there may be ‘cultural’ issues when dealing with China or that China is ‘big’ or has ‘low wage costs’ (However) a ‘general knowledge’ approach to researching China is likely to be very limited Themes from the Examiners Report (Applied) In better answers, it was pleasing to see the effective use of theories, models and concepts such as the Ansoff Matrix, the Boston Matrix, Porter’s cost leadership and differentiation strategies, porters five forces, opportunity cost, economies and diseconomies of scale and risk