Practice Exam 8
VCE Business Management |
✎ Complete ALL questions on paper before opening the Model Answers lesson. No notes. Aim for 1 minute per mark.
SHORT ANSWER
Question 1 (4 marks)
Explain Lewin’s Three-Step Change Model (Unfreeze – Change – Refreeze). How does it differ in approach from other change management models?
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Question 2 (4 marks)
Explain the difference between internal and external drivers of change in a business, giving an example of each.
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Question 3 (4 marks)
Explain the difference between incremental change and transformational (radical) change, giving a business example of each.
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Question 4 (4 marks)
Explain the key characteristics typically associated with successful entrepreneurs. How do these differ from the skills needed to manage an already-established business?
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Question 5 (4 marks)
Explain the difference between disruptive innovation and sustaining innovation, giving an example of each.
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Question 6 (4 marks)
Explain the concept of “first mover advantage.” What are the risks of being a first mover in a market?
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Question 7 (4 marks)
Explain how automation and artificial intelligence are changing the nature of work in Australian businesses.
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Question 8 (4 marks)
Explain the role of employee participation and involvement in successfully implementing organisational change.
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EXTENDED RESPONSE
Extended Response 1: Managing Change
Question 9 (6 marks)
Extended Response 1: Managing Change (a)
A traditional bricks-and-mortar retailer is planning to transition to a digital-first business model in response to changing consumer behaviour. Using Lewin’s Three-Step Model, explain how the business should plan and implement this change.
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Extended Response 1: Managing Change
Question 10 (2 marks)
Extended Response 1: Managing Change (b)
Explain two specific reasons employees might resist this digital transformation that relate to fear of skills becoming obsolete and job security, rather than general resistance to change.
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Extended Response 2: Innovation & Entrepreneurship
Question 11 (5 marks)
Extended Response 2: Innovation & Entrepreneurship (a)
Evaluate the extent to which innovation is essential for the long-term survival of small businesses in Australia, using examples of businesses that succeeded or failed based on their approach to innovation.
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Extended Response 2: Innovation & Entrepreneurship
Question 12 (3 marks)
Extended Response 2: Innovation & Entrepreneurship (b)
Explain what is meant by a “minimum viable product” (MVP) and why entrepreneurs use this approach when launching a new business idea.
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✓ Finished? Open the next lesson – Model Answers – to mark your work.
