Business objectives

Which one of the following is a financial aim for a new business?

Select one answer.

Figure 1 shows the number of units sold by a business each month from June to August. The break even level of output for each month was 5,000.

Using the information in Figure 1, calculate the margin of safety for August. You are advised to show your workings.

Explain one disadvantage to a small business from an increase in unemployment.

Explain one advantage to a small business from using e-commerce.

Discuss the way a small business could use branding to add value.

Which one of the following is an element of the design mix?

Select one answer.

Which one of the following is the best definition of a trade bloc?

Select one answer.

Explain one reason why a business may increase its product range.

Explain one advantage to a business of using just in time (JIT) stock control.

In the Source Booklet, look at Figure 2 and read Extract A, then answer Questions 4, 5 and 6.

Outline one way that financial information in a business plan could help Lili Heating Ltd.

Analyse the impact of non-financial aims on Amelia’s decision to start Lili Heating Ltd.

Which two of the following are documents produced by a business at the start of the recruitment process?

Select two answers.

Which two of the following are services?

Select two answers.

Table 1 contains financial information about a business.

Using the information in Table 1, calculate to 2 decimal places, the net profit margin.

Explain one disadvantage to a business of using loan capital as a source of finance.

Explain one reason why a business may decide to reduce the size of its workforce.

State one non-financial aim that Melanie may have had when starting Little Movers.

Outline one benefit to Little Movers of having an online booking system.

Little Movers is considering two options to carry out market research for possible new franchises in Poland:

Option 1: internet research to identify competitors in Poland

Option 2: conducting focus groups with parents living in Poland.

Justify which one of these two options Little Movers should choose.

State one example of a cash outflow for That Feeling.

Outline one benefit to employees at That Feeling from being mentored by Justin.

In order to improve its brand awareness, That Feeling is considering two options:

Option 1: increase its range of own brand clothing

Option 2: open a second shop.

Justify which one of these two options That Feeling should choose.

Evaluate the importance of achieving non-financial objectives for the success of That Feeling. You should use the information provided as well as your knowledge of business

Procurement involves a business having a strong relationship with which one of the following stakeholder groups?

Select one answer.

Figure 2 shows the market share of each business in a market.

Using the information in Figure 2, calculate the market share of Business E. You are advised to show your workings.

Explain one reason why having a post-sales service may be important to a business.

Explain one impact on a business from reducing the size of its workforce.

Discuss the disadvantage to a business of using a just in time (JIT) system of stock control.

Give one element of the marketing mix.

Figure 6 shows the ASOS share price over time.

January 2015 January 2016 January 2017 January 2018 January 2019

Time

Figure 6

(Source: adapted from https://www.asosplc.com/ investors/share-price/share-price-chart)

Using the information in Figure 6, identify the year when the ASOS share price was higher than £70.

Outline one advantage to ASOS of increasing the range of products offered for sale on its website.

In order to increase its profits, ASOS is considering two options:

Option 1: lower prices

Option 2: advertise on more social media channels.

Justify which one of these two options ASOS should choose.

Evaluate whether high quality logistics will give ASOS a competitive advantage. You should use the information provided as well as your knowledge of business.

Which one of the following is an example of a reward from business activity?

Select one answer.

Which one of the following is a definition of market share?

Select one answer.

Explain one benefit to a small business from having a unique selling point.

Explain one advantage to a small business of using trade credit as a source of finance.

Which two of the following are elements of the marketing mix?

Select two answers.

Which two of the following areas are covered by employment law?

Select two answers.

Table 1 contains information about a small business for one month. The business sold 340 units in this month.

Using the information in Table 1, calculate the total costs for one month. You are advised to show your workings.

Explain one possible non-financial aim an entrepreneur may have when starting a small business.

Explain one disadvantage to a small business of using qualitative data for market research.

Outline one method Mind Candy could use to extend the product life cycle of one of its games.

Analyse the impact on Mind Candy of reducing the size of its workforce.

Table 2 contains information about Mind Candy’ s performance in 2013.

(Source: adapted from https://beta.companieshouse.gov.uk/ company/05119483/filing-history)

Table 2

Using the information in Table 2, calculate Mind Candy ’s cost of sales. You are advised to show your workings.

Using the information in Table 2, calculate, to 2 decimal places, Mind Candy’s gross profit margin. You are advised to show your workings.

As a result of the problems it faced in 2013, Mind Candy changed its main business objective from growth to survival.

Analyse the impact on Mind Candy of changing its main business objective to survival.