Clarification details
Updated December 2019. This document has been updated in its entirety to address new issues that have arisen from moderation.
Students are required to identify and analyse a specific business rather than examine a whole sector or industry. For example, information could be sourced from a case study, by visiting a local fertiliser company, or hearing an orchardist guest speaker.
A student should identify at least two actual or potential influences that affect viability, such as a biosecurity risk or changes required to meet new environmental regulations. A more positive influence on viability might be the business’ ability to exploit an opportunity by embarking on a three-year plan to gain certified organic status.
A student needs to explain how the business can respond to the influences, and what course of action is best to maintain continuity of business operations.
For each influence, a student should explain one or more future proofing strategies to mitigate or take advantage of the influence. Students also need to state how these strategies contribute to the long-term viability of the business.
Merit and Excellence
At Merit, future proofing strategies need to be thoroughly explained. The influences or drivers for change, such as stakeholder demands, government regulations, rising costs, technological advancement and innovation, need to be explained in detail. The explanations should be clearly linked to an appropriate strategy (or strategies) to maintain or enhance viability.
The most effective strategy could be a combination of actions that work together or complement each other.
Excellence requires students to evaluate and justify the recommended future proofing strategy by considering its advantages and disadvantages over other strategies or solutions. Students should discuss, in detail, the consequences of the strategy on the ability to maintain or enhance viability.