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Business Studies - annotated exemplars level 2 AS90848
Carry out, review and refine a business activity within a community context with guidance (2.6)
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This annotated exemplar is intended for teacher use only. The student work shown does not always represent a complete sample of what is required. Selected extracts are used, focused on the grade boundaries, in order to assist assessors to make judgements at the national standard.
Low Excellence
| Commentary | ||
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For Excellence, the student needs to comprehensively carry out, review and refine a business activity. This typically involves:
The student has been part of a group that comprehensively planned and carried out a business activity. Business knowledge has been integrated throughout the plan. The group’s refined business plan, completed after cycle one, is at Low Excellence (1). The student has reflected on how well the second business activity was performed, compared to the business plan (2). Business knowledge is evident throughout. The student’s personal review of cycle two of the business activity was also at Low Excellence. To retain this grade it was necessary for the student to refine their cycle two business plan to incorporate reflections that would improve the activity, should it be repeated for a third cycle (3). For a more secure Excellence for their revised business plan, the group could produce high, medium and low sales forecasts, the first incorporating their break-even point. For a more secure Excellence for their review, the student could have indicated that changes to sales forecasts and operations would be necessary in response to the changed product range. |
High Merit
| Commentary | ||
|---|---|---|
For Merit, the student needs to carry out, review and refine a business activity in depth. This typically involves:
The student has been part of a group that planned and carried out a business activity to an in-depth level. Business knowledge has been included throughout the plan. The group’s refined business plan, completed after cycle one, is at High Merit (1). The student has completed a detailed review of how well the activity was performed by comparing outcomes of the second cycle to the revised business plan (2). Some business knowledge has been included in the review. The student’s personal review is at High Merit. To reach Excellence for their business plan, the group could ensure that all aspects were completed to a comprehensive level, by including more detail in their operations section to more clearly indicate how aspects of the business will be carried out. To reach Excellence for their review, the student could refine their cycle two business plan to incorporate reflections that would improve the activity, should it be repeated for a third cycle. |
Low Merit
| Commentary | ||
|---|---|---|
For Merit, the student needs to carry out, review and refine a business activity in depth. This typically involves:
The student has been part of a group that produced an in-depth plan then carried out a business activity. The plan contains relevant business language. Following cycle one, the group refined their plan before carrying out the activity again. The revised business plan is at Low Merit (1). The student has reviewed cycle two by explaining what went well and what did not (2). The changes made to the business plan have been referred to in the review. The student’s personal review of cycle two is at Low Merit. For a more secure Merit for their business plan, the group could include greater detail in the financial section of their business plan so that the reader has a clearer indication of what intended costs/sales will be. For a more secure Merit for their review, the student could state actual financial results and whether the third business aim was achieved, and integrate specific language of the business plan when comparing the outcome of the second cycle to the plan. |
High Achieved
| Commentary | ||
|---|---|---|
For Achieved, the student needs to carry out, review and refine a business activity. This typically involves:
The student’s group revised its business plan after cycle one then sold again, incorporating improvements arising from the review. The group’s grade from this process is Low Excellence. The student reviewed cycle two by stating how well the activity was performed in relation to the original planned activity (2). Some business knowledge has been stated. The grade for cycle two is the maximum the student can achieve. This student’s review is at High Achieved, so this is their final grade. For a more secure Excellence for their business plan, the group could include high, medium and low sales forecasts, with the first incorporating the break-even point. To reach Merit for their review, the student could state actual financial results and whether the all business aims were met, and clearly link the review to changes that were made to the revised business plan. |
Low Achieved
| Commentary | ||
|---|---|---|
For Achieved, the student needs to carry out, review and refine a business activity. This typically involves:
The student’s group revised its business plan after reviewing cycle one, then carried out the second selling cycle, incorporating improvements arising from the review. The revised business plan evidence is at Merit (1). The student has reviewed cycle two by stating how well the activity was performed and comparing the outcomes with the original planned activity (2). Some business knowledge has been stated. The grade for the cycle two business plan is the maximum the student can achieve. The student’s review is at Low Achieved, so this is their final grade. For a more secure Merit, for their business plan, the group could include greater detail in the financial section of their revised business plan to incorporate the price variation. For a more secure Achieved for their review, the student could ensure that their reflections are linked back to business aims and the revised business plan. |
High Not Achieved
| Commentary | ||
|---|---|---|
For Achieved, the student needs to carry out, review and refine a business activity. This typically involves:
The student was a member of a group that planned and carried out a business activity during cycle one. Relevant business knowledge was integrated through the business plan. To reach Achieved, the business activity would be carried out for a second cycle, following revision of the business plan. There needs to be a distinct point at which cycle one terminates and the review process commences. |