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Corporate Objective. Market research is the objective collection, compilation and analysis of information about a market. 7%. Objective. Temperature and noise levels. Using the data, calculate, to 2 decimal places, the market share of Starbucks Coffee in the coffee shop/café market. Revision notes, past papers and practice questions for Cambridge (CIE) O Level Business Studies, written by our expert team of teachers and examiners. (a) Using the information in the table, calculate the level of output required to break even in May. There is a growing trend in setting up lifestyle businesses as people demand flexibility and a better work-life balance. Tools to help you ace your exams, including: past papers, revision notes, and exam-style questions (organised by topic) Increased income tax will reduce the disposable income of customers and demand for products may fall. 2. Anticipate future needs and wants of consumers. Liquidity is the ability of a business to meet its short term commitments (e. 7 Crisis Management & Contingency Planning. The provision of safety equipment. These four components work together to satisfy the needs and want of a target market while achieving the company's objectives. 4. 4. The main differences between outsourcing and subcontracting are. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously Intrapreneurship refers to the practice of promoting entrepreneurial thinking and behaviour within an existing business. It is used to identify an appropriate corporate strategy and identify the level of risk associated with the chosen strategy. It includes questions, answers and mark schemes for Section A and Section B. Sales forecasts are an important tool to support planning and can improve the validity of cash flow forecasts. Step 2 - Divide the total profit by the number of years of the investment project to find the average annual profit. Franchising. Health and safety legislation requires businesses to operate in a way that protects the physical and mental wellbeing of its employees and contractors as well as its customers. 4 Global Industries & Multinational Corporations. As a business grows, it can increase its scale of output generating efficiencies that lower its average costs (cost per unit) of production. 5 Business Choices for the Edexcel A Level Business syllabus, written by the She has over 10 years experience which includes working as an Academic Mentor and Head of Economics & Financial Education. 07 of current assets to cover each £1 of short-term debt. Unit costs are likely to be low if a business takes a preventative approach through the use of quality assurance or TQM. 2 Operations Methods. Selling price - variable cost per unit. Sales of Starbucks Coffee were £328m in 2022. Operating costs will rise as a result of increased taxes such as VAT and National Insurance contributions. 95. Give them a try and see how you do! Topic Questions. O Level Business. In 2022 the UK coffee shop/cafe market was worth £4. Browse our range of WJEC Eduqas GCSE Business Past Papers and Mark Schemes below. For example, tennis rackets imported into the UK from China have a tariff of 4. Global competitiveness is the ability of a business to perform better than its rivals across markets in different countries. Effective market research will help the business. The business focus shifts to managing the product's decline and reducing costs. You are advised to show your workings (3 marks) Step 1 - Calculate the variable costs per burger. A common objective in the early stages of trading. This will project how much income the business plans to make through sales. Revision notes for the SL IB Business Management syllabus, written by the Business Management experts at Save My Exams. Paper 2 (Business 2) Mark Scheme. The Importance of Quality Management. (2 marks) Step 3 - Round to the nearest unit. Growth. 18. The formula to calculate the cost-plus price is. 0. With Save My Exams, your revision resources are created by experienced educators and examiners who actually mark IGCSE exams, so you’ll know exactly what to revise and how to answer questions for maximum marks. £48,000 ÷ 6 year = £8,000 (1 mark) Step 3 - Divide the average annual profit by the initial outlay. = 723. 2 Environmental & Ethical Issues. Paper 3 (Investigating business in a competitive environment) Mark Scheme. Progress tracking across 20+ topics & 300+ questions, sorted by difficulty. The product - existing and new products. g. Critical path analysis is a project management tool that uses network analysis to plan complex and time-sensitive projects. Global Business. Starts when sales begin to decline as the product becomes obsolete or is replaced by newer products. Sources of external finance include family and friends, banks, peer-to-peer funding, business angels, crowdfunding, and other businesses. Method. The quality of a businesses products can provide a competitive advantage. With Save My Exams, your revision resources are created by experienced educators and examiners who actually mark GCSE exams, so you’ll know exactly what to revise and how to answer questions for maximum marks. This section will discuss who the business is aimed at e. Forecast revenue. CIE IGCSE Business. His students regularly achieve 90-100% in their final exams. 4 Statement of Financial Position. This can help plan for break even levels of output. Testing yourself with GCSE Business past papers is a great way to identify which topics need more revision, so you can ensure that you are revising as effectively as possible to help you get ready for your GCSE Business exam. 6bn. June 2016. Paper 2R (Investigating Large Businesses) Mark Scheme. The Business Management Toolkit. 84% of Head to Toe Wellbeing’s revenue was converted into operating profit. Critical Path Analysis involves the construction of a visual model of the project that includes key elements. Revision notes on 1. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously 4. Save My Exams is an online platform dedicated to helping GCSE, IB and A-level students achieve better grades. 1 Globalisation. The reorder level is clearly identified on the diagram - in this case it shows that the reorder level is 500 units (1 mark) Step 3 - Identify the reorder quantity. Testing yourself with past papers is a great way to identify which topics need more revision, so you can ensure that you are revising effectively as possible to help you get ready for your Edexcel exams. Economies of scale help large firms to lower their costs of production beyond what small firms can achieve. Paper 13 Short Answer/Data Response. An exchange rate is the price of one currency in terms of another, e. Cash Flow. AQA GCSE Business. 2. Revision notes, past papers and practice questions for Cambridge (CIE) O Level Business, written by our expert team of teachers and examiners. Sales $ = 0 units. 8,800. Our resources are used by millions of students, tutors and teachers all over the We're on a mission to take the guesswork out of Business Management revision. Unit 5 (Introduction to Economic Understanding) Mark Scheme. Past Papers. In order to construct a break-even chart the business needs to know the estimated fixed costs, variable costs and sales revenue. A business can also generate additional finance internally by managing its working capital more effectively. 6. An amazing selection of past exam papers and concise solutions and explanations. grades 2x. In some cases increasing demand and thus output is the most suitable way to increase capacity utilisation. Insert. Our extensive collection of resources is the perfect tool for students aiming to ace their exams and for teachers seeking reliable resources to support their students' learning journey. Pricing Strategy. Tools to help you ace your exams, including: past papers, revision notes, and exam-style questions (organised by topic) 5. payments to creditors) with its available assets; A business that cannot pay its bills will usually fail very quickly, even if they are profitable; Managing liquidity is a key way to manage risk in a business - and helps a business to prepare for the unexpected June 2017. The higher the position in the hierarchy, the more authority and power it holds. Revision notes, past papers and practice questions for OCR A Level Business, written by our expert team of teachers and examiners. The Elements of the Marketing Mix. 1000 units The main internal reasons for business failure. The evidence-based approach to business decision making. a lack cash flow or working capital) can cause swift business failure as it becomes difficult to operate The 4Ps represent the key elements of a marketing strategy: product, price, place, and promotion. Leverage the knowledge and expertise of40+ examiners and educators. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously External finance is sourced from outside of the business. Leaders may lack the experience or skills to run a business effectively, especially during periods of crisis. A business has several options available to improve its capacity utilisation. As the price increases, the quantity demanded decreases. The reorder quantity is the difference between the maximum stock level (shown by the topmost dotted line) and the minimum stock level. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously organized The examiner-written revision resources that improve your. £15,545 ÷ £5,060 = 3. Calculate Packer Sports Ltd’s current ratio. An external tariff wall is a tax applied to imported goods by a group of countries that have formed a trade agreement. Mark schemes. 100,000 students, teachers, tutors and parents trust Save My Exams because it delivers real results. Analysing Published Accounts. By understanding and manipulating the marketing mix, businesses can differentiate themselves from competitors. Forgot email or trouble signing in? Click “Continue” to agree to Save My Exams’ and acknowledge that Save My Exams’ applies to you. As the price decreases, the quantity supplied decreases. The business encourages them to take risks, innovate, and develop new ideas and projects that may benefit the business. Exam paper questions organised by topic and difficulty. Check Correct Answers. Revision notes, past papers and practice questions for Edexcel International AS Business, written by our expert team of teachers and examiners. Analysing the Financial Performance of a Business. Revision notes, past papers and practice questions for AQA AS Business, written by our expert team of teachers and examiners. The market - existing and new markets. 2 Business Management Toolkit Case Studies. 2 Global Markets & Business Expansion. 60% of UK start-ups fail within their first three years. . There are a number of approaches to managing quality in the production process. Hierarchy. The size of the market. Sales Revenue = Price x Quantity Sold. This pricing strategy is simple and is commonly used by manufacturers Outsourcing and Subcontracting. Corporate objectives may focus on achieving specified levels of market share , profit, sales growth or new product/market development. Exchange Rates Defined. 1 Economic Issues. Outsourcing tends to be permanent. Family and friends. Not a member? Sign up. Browse our range of AQA A Level Business Past Papers and Mark Schemes below. Subcontracting tends to last the duration of a project or activity. Some ethical businesses adopt an ethical code of practice which informs decision-making and may set out how a they. A business plan is a document produced by the owner at start-up, which provides forecasts of items such as: The business idea ( sub-topic 1. There is a direct relationship between supply and price. The Benefits & Drawbacks of Using Internal Finance. Access to more markets. Revision notes for the CIE A Level Business syllabus, written by the Business experts at Save My Exams. (2) Step 1: Substitute the values into the formula. 5. The markup covers the cost of production plus the business's desired profit margin. Past paper and exam-style questions, organised by topic. Financial Terms & Calculations. That's why we've curated a collection of GCSE Edexcel past papers to support your revision journey. 1. External Influences on Business Activity. Financial factors (e. Finance. With Save My Exams, your revision resources are created by experienced educators and examiners who actually mark O Level exams, so you’ll know exactly what to revise and how to answer questions for maximum marks. Sales $ = 500 units. Sales as a result of promotional activity. Businesses outsource or subcontract by hiring other organisations or resources to perform certain tasks, functions or projects on its behalf. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously organized Business Studies. The benefits for businesses of belonging to a trading bloc. £1 = €1. 1 The Business Management Toolkit. Steve has taught A Level, GCSE, IGCSE Business and Economics - as well as IBDP Economics and Business Management. Low costs may allow a business to reduce its selling price to better compete with or undercut its rivals. a) (Revenue ÷ Total costs) x 100. Mark Scheme. To understand consumer behaviour. c) (Revenue ÷ Gross profit) x 100. Increasing the level of capacity utilisation results in lower unit costs. Revision notes for the AQA GCSE Business syllabus, written by the Business experts at Save My Exams. A tariff is a tax placed on imported goods from other countries. age, gender, income and will form part of the firms marketing strategy. Steve has been the Assistant Head of Sixth Form for a school in Devon, and Head of Economics at the world's largest International school in Singapore. Paper 1 (Business 1) Mark Scheme. IGCSE Economics. Paper 1R (Investigating Small Businesses) Mark Scheme. India, China and Brazil are considered to be emerging economies. He enjoys creating learning resources for students and has co-authored several teaching guides. Increased VAT will make products more expensive and customers may switch to alternative products. Exchange Rate Fluctuations. A list of all activities required to complete the project. Ineffective management is a key cause of business failure. Get started. £8,000 ÷ £40,000 = 0. Survival. Sales $ = 3000 units. Understanding Business Ethics. The provision of adequate breaks and rest periods. machinery, land, buildings) generates a source of finance; A sale and leaseback arrangement may be made if a business wants to continue to use an asset but needs cash The business sells an asset (most likely a building) for which it receives cash Steve has been the Assistant Head of Sixth Form for a school in Devon, and Head of Economics at the world's largest International school in Singapore. Firstly a business identifies the measurable objective it wants to achieve and determine the criteria against which success will be measured. 2 Recruitment, Selection & Training for the Edexcel A Level Business syllabus, written by the Business experts at Save My Exams. Demand refers to the number of goods/services customers are willing to buy at a given price. 3 Income Statements. Past papers. Paper 2 (Business activities, decisions and strategy) Mark Scheme. There is an inverse relationship between the quantity demanded by customers and the price. Other Forms of Business. 3. June 2019 UNIT 2: Managing business activities (MS) January 2019 UNIT 1: Marketing and people (QP) January 2019 UNIT 1: Marketing and people (MS) Visit all of our Edexcel International A Level Past Papers here. UK growth tends to be lower than emerging economies. Get started by selecting your qualification level, and dive into GCSE Business. Sales forecasts commonly focus on what will happen in the future to: The volume and value of sales. Give them a try and see how you do! A Level Business. 723. He is an IBDP Examiner and IGCSE textbook author. = £76 (1 mark) Step 3 - Apply the formula to calculate the break even point. 2) The cash-flow forecast ( sub-topic 1. The business decides where they want to position the product in the market with regard to price, quality, branding, and customer perception. An exchange rate is the value of one currency in terms of another currency. 2 Niche Markets for the Edexcel A Level Business syllabus, written by the Business experts at Save My Exams. (1 mark) Step 2: Multiply the outcome by 100 to find the percentage. 3 Business & Globalisation. Small business owners approach close acquaintances to invest in or Unit 3 (Building a Business) Mark Scheme. Our worksheets cover all topics from GCSE, IGCSE and A Level courses. Several other forms of business have also gained prominence in recent years, including franchising, social enterprises, lifestyle and online businesses. Legislation covers areas including. Make your way through our clear revision notes, Business Management past papers, typical exam questions, fully-explained model answers and more, tailored to your Business Management specification. The growth rate of a country is measured by the annual change in its gross domestic product (GDP) Emerging economies are economies that have increasing growth rates but relatively low income per head (per capita) E. “ A brilliant platform! A brilliant platform for detailed and clear explanations for IB concepts in Maths, Physics and Chemistry. 3 Location. 07 (1 mark) Step 2: Express the outcome as a ratio. Revision notes on 2. A tariff increases the price of imported goods which helps to shift demand for that product/service A hierarchy refers to the levels of authority within an organization. Common reasons for failure include poor cashflow, low sales and unexpected costs. Advantages. Businesses are able to sell to more customers due to free movement of goods. 2 (1 mark) Step 4 - Multiply the outcome by 100 to find the percentage. = £95 - £19. At Save My Exams, we understand that the key to success in your GCSE exams is thorough preparation. Student friendly model answers written by experienced teachers & examiners. Currency appreciation and depreciation Calculate Head to Toe Wellbeing Ltd’s Operating Profit Margin in 2022. Here, you'll find an array of revision notes, topic questions, fully explained model answers, past exam papers and more, meticulously organized Selling business assets which are no longer required (e. Ansoff’s Strategic Matrix. Sources of Finance. The model considers four elements, which are broken down into two categories. The specific performance goals set by senior management for the business to achieve over time. He loves to create resources which speed up student learning and are easily accessible by all. 4 Break-even Analysis. Businesses need to maintain a level of quality that continues to attract and retain customers. Welcome back to Save My Exams. Paper 2 (Investigating Large Businesses) Mark Scheme. Ways of improving capacity utilisation. Cost plus. It includes questions, answers and marks for Paper 1: Investigating Small Business. Paper 1 (Marketing and People) Mark Scheme. 20,000 + revision notes • Past papers and mark schemes • 100,000 + practice questions and model answers • And lots more. The external sources of finance available to a business. Examples of Common Business Objectives. = 3. 9 Management Information Systems. Derived from the firm’s overall aim and mission statement. Financial Statements. 3 Global Marketing. Jennifer has also co-written an Economics workbook and is an examiner for UK exam boards. Revision notes on 4. (2) Step 1: Substitute the values into the equation. 5. The marketing strategy aims to maintain market share and increase profitability by cutting costs and finding new markets. 5 Analysing the Accounts. Fixed Costs. Progress tracking across 10+ topics & 305+ questions, sorted by difficulty. Paper 12 Short Answer/Data Response. d) (Gross profit x Revenue) x 100. 8 Research & Development (R&D) 5. To reduce risk when launching new products or entering new markets. b) (Gross profit ÷ Revenue) x 100. Revision notes for the CIE IGCSE Business syllabus, written by the Business experts at Save My Exams. Meet all our experts. Effective demand occurs when customers are willing and able (they have the money) to buy at a given price. Jan 1, 2023 · This is a past paper for the GCSE Business exam, covering topics such as sources of finance, market research, break even analysis and technology. Step 2 - Calculate the contribution. 68. Supply is the number of goods/services businesses are willing to sell at a given price in a specific time period. The past twenty years has been characterised by rapid globalisation and growing international business expansion. 68 (1 mark) Step 4 - Always round UP to the nearest whole number because only whole products can be sold. It describes the ranking of positions from top to bottom. Ethics relates to the rights or wrongs of making a strategic decision that are beyond legal requirements and in accordance with a businesses corporate responsibility principles. Evidence-based decision-making involves taking a systematic and facts-based approach when determining objectives, strategy and tactics. Browse our range of Edexcel Past Papers below. 1) The target market ( sub-topic 1. They can negotiate extended payment terms with suppliers. Whether you're a student striving for top grades or a teacher seeking valuable resources for your students, we've gathered past papers for a wide Globalisation is the business and economic integration of different countries through increasing freedoms in the cross-border movement of people, goods, services, technology and finance. Save My Exams is the stress-free path to helping students study effectively and get higher grades than they ever thought possible. Testing yourself with A Level Business past papers is a great way to identify which topics need more revision, so you can ensure that you are revising as effectively as possible to help you get ready for your A Level Business exam. As the price increases, the quantity supplied increases. The hierarchy usually includes top-level management, middle-level management, and lower-level employees. 5) Get started. 4 Distribution for the Edexcel A Level Business syllabus, written by the The Nature & Purpose of Critical Path Analysis. The business calculates the cost of production and then adds a markup to determine the final price. Market mapping is a tool for identifying the position of a product within a market. 6 Production Planning. Explanation. Unit 6 (Introduction to small Business) Mark Scheme. Explaining Economies of Scale. 1. Businesses that trade internationally import Mark has taught Business and Economics for over 25 years in the UK, Sri Lanka and Thailand. 1 Introduction to Operations Management. Paper 2 (Managing Business Activities) Mark Scheme. Quality considers the characteristics and features of a product that satisfy the needs of customers. You are advised to show your workings. Paper 23 Case Study. Give them a try and see Past Papers. A hierarchy refers to the levels of authority within an organization. Protectionism is when a government seeks to protect domestic industries from foreign competition. Methods of Quality Control. Finance & Accounting. Oxford AQA IGCSE Business. 84% (1 mark) In 2022 52. 2 Entrepreneurial Motives & Characteristics for the Edexcel A Level Business syllabus, written by the Business experts at Save My Exams. Sales as a result of cyclical factors. Revision notes for the HL IB Business Management syllabus, written by the Business The Purpose & Methods of Market Research. It identifies the number of units a business must sell in order to break-even. Break-even Table of Costs and Revenue for Tee-Crazy Ltd. Competitive Advantage from Quality Management. (1 mark) Step 2 - Substitute the values into the breakeven formula. An Introduction to Supply. He has an MA from UCL and was a research assistant at the Institute of Education. These efficiencies are called economies of scale. Explanation for Question 14 goes here. Paper 1 (Marketing, people and global businesses) Mark Scheme. June 2018. IB Business Management. Higher Business. 07: 1 (1 mark) In this example, Packer Sports Ltd has £3. External tariff walls. 1) The business aims and objectives ( sub-topic 1. 2) The forecast revenues, costs and profits ( sub-topic 1. Mind UK. Tools to help you ace your exams, including: past papers, revision notes, and exam-style questions (organised by topic) Step 2 - Identify the reorder level. Costs. Fluctuations in exchange rates can influence the competitiveness of business. Market positioning refers to the process a business goes through when launching a new product or service. Give them a try and see how you do! Feb 1, 2022 · This is a past paper for the GCSE Business exam in the UK, covering topics such as market research, costs, revenue, profit and business types. Paper 22 Case Study. 5284 x 100. (4) Step 1: Identify annual sales of Starbucks Coffee. It involves empowering employees to think and act like entrepreneurs. Course-specific and 100% exam-aligned. = 52. 5 Income Elasticity of Demand (YED) for the Edexcel A Level Business syllabus, written by the Business experts at Save My Exams. They can incentivise customers to pay more promptly for credit purchases. 1 Production, Productivity & Efficiency for the Edexcel A Level Business syllabus, written by the Business experts at Save My Exams. Decline. International currencies are essentially products that can be bought and sold on the foreign exchange market (forex) The Central Bank of a country controls the exchange rate system that is used in determining the value of a nation's Revision notes on 1. gi wi cu gl do gc pq gx hx hl