How to Ace Your Business Studies Exam with an Example of a 9 Mark Answer
Business studies is a popular subject in high schools and colleges, and students often struggle with the vast amount of information they need to remember. However, with the right study techniques and exam strategy, acing your business studies exam is definitely achievable. In this article, we’ll provide you with valuable tips on how to study effectively for your exam and illustrate these tips with an example of a 9 mark answer.
Tip#1: Understanding the Exam Format
The first step to acing your business studies exam is understanding the exam format. This means knowing the number of questions, the weighting of the questions, and the time allocation. Once you understand the format, you can adequately prepare and allocate your time to each question.
For instance, if you have 3 essay questions, each carrying 20 marks and you have 2 hours to write, then each question should take you between 40 and 45 minutes to complete. Understanding the exam format guarantees you have enough time to answer all the questions thoroughly.
Tip#2: Create a Study Timetable
Creating a study timetable is crucial to your exam success. It helps you break down your study workload into smaller, manageable segments. This way, you can cover all the material in time for your exam.
Start by prioritizing your study based on exam weighting and your strengths and weaknesses. Allocate more time to the topics you find challenging and less time to the topics you understand better. Don’t forget to incorporate breaks, and stick to your study schedule.
Tip#3: Familiarize Yourself with the Rubric
The rubric is a guideline that outlines the exam expectations. It contains information on how to answer the questions, the style, format and content requirements. Familiarizing yourself with the rubric helps you to understand the examiners’ expectations.
For example, if the rubric instructs you to “provide evidence,” you should support your answer with a relevant example or case study. Failing to adhere to the rubric can cost you valuable marks, so ensure you read and follow it carefully.
Tip#4: Practice Writing Sample Answers
Practice writing sample answers is essential to exam success. It helps you to improve your writing skills, ensures you understand the content, and familiarizes yourself with the exam format.
When writing sample answers, ensure you follow the exam format, use relevant examples to support your answers, and adhere to the rubric guidelines.
An Example of a 9 Mark Answer
Question: Explain two strategies businesses could use to maximize their profits.
Answer: There are several strategies businesses can use to maximize their profits. Two of the most common strategies are:
1. Cost Leadership: Cost leadership strategy refers to the use of cost-effective methods to produce goods or services to achieve cost advantages. This strategy focuses on offering products or services at the lowest possible price to outcompete rival companies. Companies that adopt cost leadership achieve a competitive advantage and increase their profit margins.
2. Differentiation Strategy: This strategy involves offering unique products or services that distinguish a company from its competitors. Companies achieve differentiation by creating a good reputation for quality or providing exceptional customer service or by adding unique features to their products. In turn, companies charge premium prices, which leads to higher profit margins.
In conclusion, acing your business studies exam requires proper planning, understanding the exam format, and adhering to the examiners’ expectations. Creating a study timetable, practicing sample answers, and familiarizing yourself with the rubric guarantees exam success. Utilize the tips shared in this article, and you’ll be well on your way to acing your business studies exam.
