All Leaving Cert Business posts
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    Key Topics for 2016 Leaving Certificate Business Examination M Monahan

    Just a few key topics worth revising for the LC 2016 Exam:

    MAIN ELEMENTS TO REVISE FOR 2016:

     People in Business People in business and conflicting interests, stakeholders in Business.

     Industrial relations – Know Acts

     Enterprise skills in action, Entrepreneurial skills, benefit to the Irish Economy..

     Contract Law, elements of valid contract and remedies – VIP!

     Need to know Wages forms P60, P21 etc. & Calculation of Wages.

     Management skills and activities, always comes up LMC & POC – VIP!

     Financial management, Ratio Analysis – VIP!

     Human resource management, Role and Functions of the HRM – VIP!

     Strategies for Managing Change

     Business in Action Identifying and researching business opportunities

     Ratio Analysis, Breakeven - VIP!! Look at affect of changing variable costs on BE point.

    What are the limitations of the Break Even Chart??

     Analysing the Cash Flow of the Business, why do businesses need a positive Cash Flow?

     Corporate Social Responsibility – CSR, Ethical Business Practices.

     The Marketing mix, Marketing Concept, Global Marketing.

     Growing a business, Business Expansion, Types of Finance and reasons for choosing each type.

     Global marketing and transnational corporations.

     Business Plan – Need to know all 5 elements!!!!

     Benefits of Ireland being part of the EU, Opportunities and Challenges Q.3 VIP.

     International Business Environment International trade and Ireland

     EU institutions, Decision Making Process and various EU policies, CAP, CFP etc.

     VIP – BUSINESS PLAN AND BUSINESS DOCUMENTS STRUCTURE need to know them!

    GENERAL ADVICE FOR YOU!

    ■ A good strategy for Short Questions is to study and practice answering the previous Part 1 Questions from

    the past years, as they sometimes repeat.

    ■ The Short Questions may contain many questions that require you to do some calculations, such as Ratios

    or Insurance. So do not forget your calculator.

    ■ A good tactic is to try to complete at least 8 short questions, if you have time do the remaining at the end of

    the exam, as a contingency plan.

    ■ Use a highlighter, not blue as paper is pink, to highlight Key Words “use a yellow pen or highlighter”

    in the questions in all parts of the exam.

    EVALUATE–You must give your opinion, make a judgement.

    ILLUSTRATE – You must explain the point and draw a graph to back it up.

    DEFINE – Precise definition of the point and an example of the point.

    COMPARE – Show similarities between the two points.

    CONTRAST– Differences between the two points.

    OUTLINE – Explain the point but leave out the in – depth detail (give extra bullet points).

    ANALYSE – Give the advantages and disadvantages associated with the questions or the steps involved in the process being examined.

    NOTE: Look at my previous post https://www.studyclix.ie/Discuss/Leaving-Cert-Business/key-topics-for-2015-leaving-certificate-business-examination-all-areas-of-paper

    1. avatar image

      Bengee

      Thank you!

    2. avatar image

      hihihihi

      Wow this is amazing..are you an examiner? Are these definite?

      Would you mind if you help me with the Abu please? Email-- live.love.laugh_21@hotmail.com

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      christinabarron

      Are these all predictions?

    4. avatar image

      Ttomk1111

      When it says illustrate, it is just looking for an example to back up your answer.

    5. avatar image

      M Monahan

      The notes give about will assist you with structuring your revision for the examination, key areas to review.

      Case study notes to look at: https://businesseducation.ie/exam-q-and-a/applied-business-question-2016/ this should be a good sample to review as part of revision 2016.

      Illustrate could also take into account a picture/diagram, remember diagrams are good especially when you are running out of time and want to get the key areas across. Compare and contrast you could also use a T Account structure!

      VIP!! Remember watch your time and leave the ABQ till last.

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      Molly121

      What do you mean by conflicting interests

    7. avatar image

      M Monahan

      Relationships conflicting interests "stakeholders in Business" can be cooperative or competitive, employers, employee etc. be able to discuss.

      Short Questions, need to know Memorandum Layout, Average Clause and Debt/Equity Ratio calculation.

      Business Documents layout very important, Business Plan, Business Report and Letter writing layout.

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      Jennooos

      for the 3rd point is that benefit of enterprise for the irish economy?

    9. avatar image

      Jennooos

      also is there a reason why you recommed the abq last?

    10. avatar image

      M Monahan

      Applied Business Question is an unseen question and will take longer to answer correctly as the theory has to be linked to the case study. Every link should clearly quoted "". This question if done properly will take more time, compared with the other questions Ratios, BE, etc which can be completed quickly, once you know the formulas!

      Yes, look how Entrepreneurship and Enterprise how can it benefit the Irish Economy, more jobs, more revenue for the Government, more competition, example IKEA how did that benefit the local community?

      Case study notes to look at: https://businesseducation.ie/exam-q-and-a/applied-business-question-2016/ this should be a good sample to review as part of revision 2016.

    11. avatar image

      Gill_Looney

      thats all so helpful! thanks. What are limitations to BE chart though?

    12. avatar image

      M Monahan

      Strengths and Limitations: http://www.tutor2u.net/business/reference/breakeven-analysis-strengths-and-limitations

    13. avatar image

      Zlatan42

      if this was all done would I be covered for the exam?

    14. avatar image

      M Monahan

      You need to to keep practicing with examination papers, use Studyclix to group topics together for revision, excellent resource!!. Especially review the ratio analysis formulas, layouts of Business Plan, Business Document layout very important this year.

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      Grainne_9221

      what is LMC and POC?

    16. avatar image

      hihihihi

      Leading,motivating and communicating.

      Planning,organising and controlling.

      :)

    17. avatar image

      JamesF981

      .

    18. avatar image

      hbn98

      What is the layout of a business document and plan? Any notes on it?

    19. avatar image

      M Monahan

      Business Plan Layout Know the Headings 5 in Total:

      VIP Know the Business Plan – Layout (5 Headings) Look up LC Q.6 – 2006 full & Q.5 (C) 2005

      1, Description of Business – Name of Company etc.

      2. Organisation and Management – Management team, qualifications experience etc …..

      3. Marketing and Marketing Strategies – Target market, Market research, 4P’s…….

      4. Manufacturing Operations and Premises – Manufacturing process, premises, Q.C…..

      5. Financial Analysis and Investment proposal, Finance requirements, Finance available…..

      Signed:………… Owner of the Business

      Then apply headings to the theory!

    20. avatar image

      M Monahan

      ABQ Questions very good example for 2016 https://businesseducation.ie/exam-q-and-a/applied-business-question-2016/ this should assist with revision in this areas.

    21. avatar image

      hbn98

      Thank you so so much!!!

    22. avatar image

      M Monahan

      Product Development came up last year!! Marketing Mix, Marketing Concept, would be a better revision area.

    23. avatar image

      M Monahan

      Business Plans, Business Report, Business Letters, Agendas, Memos layout very important this year.

    24. avatar image

      M Monahan

      MAIN ELEMENTS TO REVISE FOR 2016 - look at the above list at top of page!

    25. avatar image

      Natasha_9668

      Is this ordinary or higher??

    26. avatar image

      Gavin1345

      I say higher level

    27. avatar image

      M Monahan

      LC Q.6 – 2006 sample answer, have a good generic answer done out for this and adapt according to question asked.

      attachment Q6 Part 2 Business in Action2006 HL Bus.doc

    28. avatar image

      M Monahan

      Good example of Letter writing & HRM 1999 Question

      attachment Q4 Part 2 Enterprise&Managing1999 HL HRM&LETTER.doc

    29. avatar image

      M Monahan

      Another important Question Q5, Managing a household/Business, Insurance and Cashflow

      attachment Q5 Part 2 Managing2002 HL Bus.doc

    30. avatar image

      M Monahan

      Q5 2006 - Good example of Question on Ratio and Insurance Principles, Note when calculating Ratios you must comment on findings write out the amounts/percentages you calculate then state why they are lower/higher then other years. Use common sense, if the profits are getting lower the costs much be increasing!!

      attachment Q5 Part 2 Managing2006 HL Bus.doc

    31. avatar image

      M Monahan

      Marketing areas and BE, good examples that should assist!

      Good Luck with your exams, remember to watch your time!!

      attachment Q7 Part 2 Business in Action2010 HL Bus.doc attachment Q7 Part 2 Business in Action2011 HL Bus.doc

    32. avatar image

      M Monahan

      Any questions, please leave a comment, good luck Business students, Studyclix is a great learning forum. Thank you Luke.

    33. avatar image

      marylangton1

      With my study I have been just concentrating on past qs from qs 1,5,6,7. Is this ok or is there more stuff that they can ask. I have gone back in each long qs as mentioned already to 2009

      Thanks for all your help

    34. avatar image

      Lc8/6/16

      Are you a business teacher or just a predictor?

    35. avatar image

      Molly121

      What do you think the abq will be on

    36. avatar image

      M Monahan

      ABQ Question should be like Mock DEB and look at: https://businesseducation.ie/exam-q-and-a/applied-business-question-2016/ this should be a good examples to review!

    37. avatar image

      M Monahan

      Organisational structures Matrix structure, draw and explain has not come up for a very long time! Perhaps a good idea to review!

    38. avatar image

      M Monahan

      Q7 2012 is a very good example for Marketing/Advertisement /Sales Promotion / Channel of Distribution, also notes on challenges facing business-startups very topical!!

    39. avatar image

      M Monahan

    40. avatar image

      M Monahan

      Q3 2008 Good example of EU Question, to assist with this area, note the (B) part could also come up in the short questions.

      attachment Q3 Part 1 People& Environ2008 HL Bus.doc

    41. avatar image

      christinabarron

      What are the challenges facing business start up? Besides like finance what else would there be?

    42. avatar image

      CianTwyford

      For the business startup, the challenges vary depending on the business structure (sole trader, partnership or private limited company)

      Sole Trader: Unlimited liability, difficult when run alone, hard to raise finance (like you said) and requires a lot of effort.

      Partnership: Unlimited liability, slower decision making(more partners), profits are split and possible conflict between partners.

      Private Limited Company: Complicated to set up(documents to receive Certificate of Incorporation), has to publish its financial accounts(anyone can view them) and a lot of legal requirements.

    43. avatar image

      christinabarron

      Thank you!!

    44. avatar image

      CianTwyford

      No probs :)

    45. avatar image

      mazzagirl24

      what is a good timing scheme for the paper? also what are the implications of expansion for a business?

    46. avatar image

      mazzagirl24

      what are the implications of business expansion?

    47. avatar image

      atraynorss

      What about for ordinary students? Would it be anything similar? thanks

    48. avatar image

      niamh123x

      can the LRC be asked tomorrow?

    49. avatar image

      Hello Kitty

      Has there ever been a question on consumer protection act 2007?

    50. avatar image

      shauna_carton

      What about TQM?

    51. avatar image

      ben10

      what are included in business documents? Letters , business plan , report??

    52. avatar image

      Laura88

      Advice for answering ABQ? ireally struggle with layout of answers

    53. avatar image

      Ruthh98

      What are the limitations of break even??

    54. avatar image

      LMLL

      Can the employment appeals tribunal or lrc be asked since the amalgamation?

    55. avatar image

      Fergal_5441

      Good luck

    56. avatar image

      M Monahan

      ABQ notes to look at: https://businesseducation.ie/exam-q-and-a/applied-business-question-2016/ this should give you good structure for ABQ 2016.

      Strengths and Limitations of Break Even: http://www.tutor2u.net/business/reference/breakeven-analysis-strengths-and-limitations

      GOOD LUCK ALL BUSINESS STUDENTS!!!!

      Please let me know how you get on, REMEMBER mind your timing, short questions first finished in 30 minutes, 3 minutes, then Long Questions do ALL 4 questions and leave the ABQ till last as it is the unseen part of the paper!!!

      Have given sample answers for Layouts of Business Plan, Letters etc on previous posts above.

    57. avatar image

      M Monahan

      Just a note on Ordinary Level:

      No ABQ for OL, 25% of the marks is for the Short Questions, 75% is for the Long Question.

      General Topics same as HL Paper Consumer Legislation People in Business, Small Claims Court comes up regularly,

      Forms of Business - Sole Trader, Partnership, PLC.

      Characteristics of Entrepreneurs: Control, Self-confident, Decisive, Creative/Innovated, Energetic.

      Enterprising skills – Planning/Goal setting, Assessing risk/decision making, Time management, HR,

      Innovation, Reality perception, Inner control.

      Leadership styles and Motivational theory Maslow, McGregors X&Y.

      Management Activities – POC (Planning, Organising & Controlling.

      Management Skills - LMC Leading, Motivating and Communications.

      Wages Calculation, know the P21, P45 & P60.

      Notice for Meeting and Agenda - Duties of Chairperson, Secretary.

      Good Communication, why is it important for a business.

      Marketing Product Life Cycle, Branding, Target Market.

      Sources of Finance - Short, Medium and Long Term.

      Organisational Structures, be able to draw out (Functional, Geographic, Product).

      Employment Equality Act, Discrimination, Industrial Relations.

      Cashflow foreast be able to analyse it, write about the Net Cash Figure, comment on findings.

      Contract Law, Offer, Acceptance, Consideration etc.

      Balance of trade (Visible/physical) goods and Balance of Payments (Visible and Invisible goods) be able to calculate.

      Insurance - Principles.

    58. avatar image

      Grainne_9221

      is there no long question based on unit 6??

    59. avatar image

      M Monahan

      CSR came up last year, Types of Business Organisations, Government and Business could be an option.

    60. avatar image

      M Monahan

      Q2 2009 - Franchising, Social Responsibilities & Irish Government and Business, I am attaching a sample answer.

      attachment Q2 Part 1 People& Environ2009 HL Bus.doc

    61. avatar image

      Dearbhail_6137

      What about WRC??

    62. avatar image

      Lc8/6/16

      Nice paper overall I thought....timing is so tight though

    63. avatar image

      jamier98

      I only just got my 4th long question started, timing was a killer

    64. avatar image

      Louiselisar

      I didn't do my break even chart on graph paper will I lose marks??

    65. avatar image

      Lc8/6/16

      the ABQ takes so long to do

    66. avatar image

      M Monahan

      No you won't loose marks if you did not use graph paper for the BE Chart. I knew timing would be a killer, it is the same in every examination. What key areas came up?

    67. avatar image

      Louiselisar

      Thank you!

    68. avatar image

      jamier98

      Management skills/ characteristics + TQM

    69. avatar image

      M Monahan

      Thank you for your feedback, I am delighted that I could assist you all, yes I knew the BE, Limitation, sources of finance and Matrix structure was due to come up. Well done Business Students, another examination done.

    70. avatar image

      Jennooos

      Thanks for all the tips and advice.

    71. avatar image

      Ttomk1111

      Thanks M Monahan, just looked at your tips this morning and they really helped me to focus. Hoping for an A1/2 in that, thanks. All exams done now!!!!!

    72. avatar image

      CosmoCronin

      Thanks so much for the tips :)

    73. avatar image

      christinabarron

      Timing was so bad. I thought it was a nice paper except for the abq

    74. avatar image

      Sarah654

      I made a mistake putting forecasted sale over the contribution instead of fixed costs I countiued on with the mistake and drew my graph buts its way wrong included fc vc and tr will I loose may marks !! It's all I did wrong and looking for a1 a2 I came out crying over it cause I've put so much time into business

    75. avatar image

      M Monahan

      Great to get feedback, timing is always an issue, examination is now done and dusted!! Well done Business Students,

      I am delighted that my key revision areas assisted you, Business is a great practical subject, I hope you will proceed onto a career in this area as we need good business entrepreneurs.

      If you have not made up your mind what course you would like to proceed onto yet, Post Leaving Certificate (PLC) is always an option, it will give a great taster of career areas, get you into the mindset of assignments and projects and in the process get you into college. have a look at http://www.carlowife.ie/course-listing.aspx which give great Level 5 options.

    76. avatar image

      M Monahan

      The examination paper has been released! https://www.examinations.ie/tmp/1466096138_4981550.pdf

      Good paper, Debt/Equity on short questions and ACROMs, Good spread of Business knowledge required to answer questions.

      Best of luck with your future studies.

    77. avatar image

      M Monahan

      Two interesting articles written about yesterdays Business Leaving Certificate Examination Paper, by the Irish Times and the Independent, have a look:

      http://www.irishtimes.com/news/education/leaving-cert-business-current-affairs-savvy-students-have-an-edge-1.2687507

      http://www.independent.ie/irish-news/education/exam-brief/examiners-demonstrate-the-art-of-keeping-students-happy-34809228.html

    78. avatar image

      M Monahan

      Two interesting articles written about yesterdays Business Leaving Certificate Examination Paper, by the Irish Times and the Independent, have a look:

      http://www.irishtimes.com/news/education/leaving-cert-business-current-affairs-savvy-students-have-an-edge-1.2687507

      http://www.independent.ie/irish-news/education/exam-brief/examiners-demonstrate-the-art-of-keeping-students-happy-34809228.html

    79. avatar image

      shauna_carton

      Does anybody remember what they got for the debt/equity ratio in short questions?

    80. avatar image

      EricM

      I got 0.5:1

    81. avatar image

      Lc8/6/16

      I got 2:1

    82. avatar image

      Patrick_4410

      2:1 highly geared

    83. avatar image

      Patrick_4410

      2:1 highly geared

    84. avatar image

      shauna_carton

      Yeah same

    85. avatar image

      Jennooos

      How many marks would you lose if you didn't show profit at forecasted output?

    86. avatar image

      Adam271

      business predictions were so helpful! thanks so much!

    87. avatar image

      M Monahan

      You are all more than welcome, delighted to assist and help with your revision topics. Remember the Leaving Certificate is only a stepping stone to getting you into a Further Education/College course, best of luck with your results.

      Remember there are lots of options open to your all, great Business Courses offered in Further Education areas have a look at http://www.carlowife.ie/course-listing.aspx which give great Level 5 options. This is a great way to prepare for college and give you points necessary to take the next step. Let me know how you get on in our LC Business. In the meantime enjoy your well deserved holidays!!!

    88. avatar image

      Sarah654

      Any key topics for economics

    89. avatar image

      M Monahan

      Denis O'Grady has a fantastic book on Economics for LC, well work getting as a revision book. Also Less Stress More Success is also a great revision text book. Look at web site: https://businesseducation.ie/exam-q-and-a/economics/ should assist with examination question area. Also https://businesseducation.ie/economic-indicators/ should benefit your revision at the point.

    90. avatar image

      Sarah654

      Thanks

    91. avatar image

      M Monahan

      Good Luck tomorrow with the Leaving Certificate Examination Results, please let me know how you got on in your Business subject.

    92. avatar image

      Lc8/6/16

      Thanks so much for all your support @MMonahan...I got my A1 in the higher level and I'm thrilled! Do you know when the marking scheme goes up on examinations.ie??

    93. avatar image

      michael.ryan.712714

      Thanks all. Started teaching myself business last autumn with the help of studyclix and got an a1 grade today. This was a very helpful thread!

    94. avatar image

      M Monahan

      Thank you for feedback, I am so delighted with your results, well done! Best of luck with your future careers, Marking scheme should be up shortly now results are in.

      Studyclix - Luke and his team have created a great learning forum for all students.

    95. avatar image

      Sarah2014

      well done on your results lads

    96. avatar image

      Sarah2014

      well done on your results

    97. avatar image

      M Monahan

      Options that may assist you:

      Just some information if your points don't go according to plan, please don't worry there are so many options for you, of course you could repeat your LC to gain the necessary points.

      Another option well worth considering is to do a PLC (Post Leaving Certificate Course) for the year, this could gain you 400 points if you achieve full marks on course. The PLC course prepare you for college, get you in the mindset of preparing assignments, projects and being independent learners which is a valuable trait to learn before you proceed to college.

      Most colleges have links set up to Post Leaving Certificate Further Education colleges.

      Carlow Institute of Further Education and Training are offering new exciting courses this year in the Post Leaving Certificate area, such as a new technology/business "Office Informatics" courses http://www.carlowife.ie/office-informatics.aspx.

      Carlow IFE also offer other courses in different areas, which give you the opportunity for one year to get a taster for the subject/career areas before making a 4 year commitment to a course you many not like.

      Courses listed see link: http://www.carlowife.ie/course-listing.aspx

      The benefit of taking this route, after successfully completing the year, you will have obtain a Level 5 course on the QQI qualification framework, which get you onto the educational ladder to proceed to college.

      If you really have not made up your mind what career area you would really like to proceed to, this is an excellent option for you and allows you breathing space before you commit, personally and financially to a 4 year degree .

      Carlow IFE also offer repeat Leaving Certificate in all subjects, just take a look at the PDF current brochure on-line for all FE courses on offer.

      Full Brochure: http://www.carlowife.ie/Uploads/Userfiles/Files/CIFE-Prospectus-2016.pdf

      To apply for courses please use web link: http://www.carlowife.ie/apply.aspx

      Hope this information is of assistance to you, please remember you have soooo many options to get on the educational ladder!

    98. avatar image

      M Monahan

      Information on options that may assist:

      If your points don't go according to plan, please don't worry there are so many options for you, of course you could repeat your LC to gain the necessary points.

      Another option well worth considering is to do a PLC (Post Leaving Certificate Course) for the year, this could gain you 400 points if you achieve full marks on course. The PLC course prepare you for college, get you in the mindset of preparing assignments, projects and being independent learners which is a valuable trait to learn before you proceed to college.

      Most colleges have links set up to Post Leaving Certificate Further Education colleges.

      Carlow Institute of Further Education and Training are offering new exciting courses this year in the Post Leaving Certificate area, such as a new technology/business "Office Informatics" courses http://www.carlowife.ie/office-informatics.aspx.

      Carlow IFE also offer other courses in different areas, which give you the opportunity for one year to get a taster for the subject/career areas before making a 4 year commitment to a course you many not like.

      Courses listed see link: http://www.carlowife.ie/course-listing.aspx

      The benefit of taking this route, after successfully completing the year, you will have obtain a Level 5 course on the QQI qualification framework, which get you onto the educational ladder to proceed to college.

      If you really have not made up your mind what career area you would really like to proceed to, this is an excellent option for you and allows you breathing space before you commit, personally and financially to a 4 year degree .

      Carlow IFE also offer repeat Leaving Certificate in all subjects, just take a look at the PDF current brochure on-line for all FE courses on offer.

      Full Brochure: http://www.carlowife.ie/Uploads/Userfiles/Files/CIFE-Prospectus-2016.pdf

      To apply for courses please use web link: http://www.carlowife.ie/apply.aspx

      Hope this information is of assistance to you, please remember you have soooo many options to get on the educational ladder!

    99. avatar image

      Me

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