Controlled assessment
- 1. Controlled Assessment How will I get marks? 40 Marks Available
- 2. One chance only There is no opportunity to re-take controlled assessment – this is your only chance to get it right – make sure you do by using all research time and write-up time wisely. NO TIME TO WASTE – so all sessions will be run in silence!
- 3. You have to demonstrate certain skills The skills areas are: Research – 12 marks To gain the highest marks for research: your research will have to be detailed your research has to be relevant you must gather information from a wide range of sources (4 or 5) you have to organise the research you gather your research has to be focused on the question
- 4. Example My question title: What is the most important reason why Michael Strait set up a KFC franchise? List 5 sources and types of research evidence that could be used to answer this question – Primary research– interview with Michael Secondary – KFC Website – information on opening a franchise Textbook – notes for definitions Secondary – how to buy a KFC franchise Secondary – website showing success rate of franchises
- 5. Presentation of information/data – 8 marks List 5 types of information/data and the format that could be use: Survey – bar chart Exchange rate data – line graph Price comparison - table Location of business - photo Quality of service – screenshot from website
- 6. Analysis – 12 marks When analysing, it is important to identify some key: issues features reasons causes consequences factors
- 7. Given the time constraint you are working to, it is not expected that you could cover more than three or four main points in your write-up. For each point, however, you must make sure that you try to identify at least two key issues, features, reasons, etc.
- 8. For example, if you were looking at the closure of a local business, you might have identified three main causes: cash-flow problems, a fall in demand for the product and an inability to raise the finance to continue. For each cause, identify three bullet points to help you explain it in more detail. If you were looking at cash-flow problems, the three bullet points might be: increased interest rates on loan – how and why this affected cash flow debtors delaying payment – how and why this affected cash flow increase in stock levels – how this affected costs and thus cash flow
- 9. The important thing to remember is to make sure your research is used effectively to support the judgements you are going to make. Examples of Making Supported Judgements The results of a survey might enable you to make a judgement about the importance of price in the marketing mix. A quote from an interview might help you to show why a particular quality is important in being a successful entrepreneur. A diagram might help to support a series of causes and effects of a rise in interest rates on a business. A passage in your textbook might be used to support your view on the importance of repeat purchase for a small business. A pie chart might show the proportion of people who shop at three rival businesses.
- 10. Identify 3 main reasons why Michael Strait set up KFC Franchise? Advantages of a franchise Less risk – 2 reasons -tried and tested, advice about finance required (must be supported by research so you would have interviewed Michael and he will have said these are the reasons he felt it less risky). Location – 2 reasons – location given by KFC in a good place for success (supported by a photo or observation of number of customers – footfall). Location guaranteed to have no other KFC in local vicinity. (supported by KFC website Strong branding – 2 reasons – highly recognisable products and logo (supported by research – survey of 10 people in local area)
- 11. Evaluation – 8 marks Evaluation is: making judgements about the importance or significance of something making judgements about whether something is more valuable or important than something else making a decision about an action or recommendation that might improve things deciding why one factor might be more relevant or appropriate than another deciding why you might choose one option rather than another
- 12. Answer the question You are likely to have to include: Three or four main paragraphs that deal with the key points A final paragraph that draws together your analysis and allows you to arrive at a conclusion related to the question You will need to decide how many paragraphs you are going to have and what each might be about. An example plan is shown below.
- 13. Example Plan Question: What was the most important source of finance used to help Manton Antiques ltd start up? Introduction: Brief outline of Manton Antiques Paragraph 1: Share capital from owners The shareholders Who controlled what How much they controlled Paragraph 2: Bank Loan How much was borrowed What was it used for Costs and benefits of taking out a bank loan
- 14. Paragraph 3: Overdraft Why an overdraft was arranged Costs and benefits of overdraft How it was used Paragraph 4: Conclusion What was the most important source of finance Bank loan – why? Why more important than shares Why more important than overdraft
- 15. Visit the Business Blog http://beaumontbusiness.blogspot.com/ On the blog you will find: Detailed guide to controlled assessment which – print if needed Appendices with tables to help your planning – print if needed The questions to be chosen from this year
- 16. What do you do next? Over half-term choose a business that you are going to use to answer one of the questions set by the exam board. Choose the question that interests you most and is appropriate to your business. Begin to plan your research as your research class time begins on Monday 7 th June – first day back.
- 17. Research Planning and Log Use the tables in the CA appendices – appendix 2 to plan your initial research Use appendix 1 to log your research to keep a tally of the time spent – 6 hours max – use the time wisely
- 18. Example Controlled Assessment Have a look at a controlled assessment that got 75% when marked by the examiner. You can all produce work to this quality or above so make your CA fantastic!
- 19. Unit 1 - Exam Exam on Friday 28 th May – 45mins Arrive at the Hall at 1.30pm Bring a calculator and a black pen Remember take your time and make sure you have answered all the questions – 2 if it asks for 2 etc Good luck!