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36. Suppose a partnership need to raise finances for growth - what are their options for increasing their access to money?

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36. Suppose a partnership need to raise finances for growth - what are their options for increasing their access to money?

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35. Explain the term 'LIMITED LIABILITY".

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35. Explain the term 'LIMITED LIABILITY".

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If a company fails then the shareholders only need to pay all company's assets
Harry

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34. Explain ONE benefit of a business remaining SMALL.

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34. Explain ONE benefit of a business remaining SMALL.

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easier to control
company's new decision can get approved instantly and notify all employees
not very risk
if a company is at loss then for big companies they will lose a much more than a small company
Harry

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33. What are the benefits and negatives of operating a PARTNERSHIP?

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33. What are the benefits and negatives of operating a PARTNERSHIP?

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Benetfits
- more partners then more capital: more capital company can invest or develop their goods and services to expand.
- Better decision - making: because  there are less shareholders in the company so, when making decision there is less conflict.
Negatives
- The liability  of the partners for the debts of the business is unlimited. The partners will need to undertake very risky ventures and therefore their risk taking initiative is dampened.
- Lack of public confidence: business may suffer from lack of public confidence because  like that of a partnership firm and the disclosure of its affairs.
Fiona

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31. Give examples of how MARKET DEVELOPMENT could be implemented to increase market share.

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31. Give examples of how MARKET DEVELOPMENT could be implemented to increase market share.

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32. Why is innovation an important element of MARKET PENETRATION? Give an example.

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32. Why is innovation an important element of MARKET PENETRATION? Give an example.

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30. Which of Ansoff's Matrix strategies is said to be the highest risk? Explain why.

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30. Which of Ansoff's Matrix strategies is said to be the highest risk? Explain why.

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diversification, because company is accessing a completely new market and developing a completely new products where company completely have no idea about it.

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27. Explain ONE DISADVANTAGE of a business selling a FRANCHISE.

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27. Explain ONE DISADVANTAGE of a business selling a FRANCHISE.

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Company's reputation may be damaged if franchisees don't obey the rules
Harry

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26. List THREE BENEFITS of buying a FRANCHISE.

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26. List THREE BENEFITS of buying a FRANCHISE.

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1. More standardised quality of goods and services.
2. Financial assistance
3. Brans name appeal
Fiona

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28. Explain ONE ADVANTAGE of a business selling a FRANCHISE.

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28. Explain ONE ADVANTAGE of a business selling a FRANCHISE.

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Advantages
More access to capital. As the franchisor’s capital requirement s will be lower because  the franchises  provide the capital to open each franchised outlets.
Fiona

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importing a great amount of items will reduce costs of each item
Harry

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24. List the four elements of Ansoff's Matrix.

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24. List the four elements of Ansoff's Matrix.

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Market Penetration

Market Development
- "Developing new markets by selling existing products"

Product Development

Diversification

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Market share = [(Total sales of the company)/(Total sales in the market)] x 100

Fiona

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29. Explain, using examples, the effectiveness of Product Development for improving customer loyalty. 

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29. Explain, using examples, the effectiveness of Product Development for improving customer loyalty. 

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Product development is the process of improving a existing product or delivering a new product. An example would be Apple. As they would launch an improved and new version of an existing product (Iphone 11 to Iphone 12). By doing so, this would improve customer loyalty as existing customers would consider buying the new launched product due to their experience with products from the same company. At the same time it would also attract new potential customers which can develop brand loyalty.
- Christine

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Multinational Company has facilities and other assets in at least one country other than its home country. Also, is generally has offices or factories in different countries and a centralised  head office where they coordinate global management.
Fiona

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1. Explain ONE advantage and ONE disadvantage of Decision Trees

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1. Explain ONE advantage and ONE disadvantage of Decision Trees

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The Advantages of using decision trees does not require a large amount of data.

The Disadvantage  of itself is lack of detailed information. Decision trees can help manger decide options quickly with the most seemingly reliable information they have. But then, if there is one small misleading information, the whole plan might have to be changed.  - Kelvin

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3. Explain TWO reasons why a company may wish to remain small.

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3. Explain TWO reasons why a company may wish to remain small.

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1. easier to control staffs
There are a small number of staffs in a small company, so this means the company can notify every employees for any changes in the company
2. small costs
Small companies earn little but also cost little for the expenses, this means the risk is small for small companies

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sales, volumes
greater s
Harry
Market share represents the percentage of an industry, or a market's total sales, that is earned by a particular company over a specified time period.

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4. Give examples of the EXTERNAL ELEMENTS of a SWOT analysis that a market leader like Samsung might identify.

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4. Give examples of the EXTERNAL ELEMENTS of a SWOT analysis that a market leader like Samsung might identify.

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Opportunity:

Threats:
competition
government laws
Harry

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5. Give examples of the INTERNAL ELEMENTS of a SWOT analysis that a market leader like Starbucks might identify.

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5. Give examples of the INTERNAL ELEMENTS of a SWOT analysis that a market leader like Starbucks might identify.

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Strength:
big, many stores around the world
Weakness:
expensive
Harry

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7. Explain the key elements of a SWOT analysis.

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7. Explain the key elements of a SWOT analysis.

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The SWOT analysis process involves four areas: strengths, weaknesses, opportunities and threats. when conducting a SWOT analysis both internal and external factors need to be taken into it  in order to make sure the results are useful.  - Kelvin

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10. A "Partnership" is defined as having how many owners?

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10. A "Partnership" is defined as having how many owners?

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- A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities.
- Involves two or more individuals.

---- Fiona Wan

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6. Give an example of the the kind of objectives a Social Enterprise might have - and how these could increase their chance of receiving government support.

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6. Give an example of the the kind of objectives a Social Enterprise might have - and how these could increase their chance of receiving government support.

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Social enterprises are companies that provide a service to the public and earning profit is the not the main goal. This will have a high chance of support from the government as  government really likes companies that help the public which is why the chance of receiving government support is very high.
-Bryan Lam

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8. How might the aims and objectives of a Social Enterprise differ from those of a Public Limited Company?

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8. How might the aims and objectives of a Social Enterprise differ from those of a Public Limited Company?

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1. Social enterprises are non- profit organisations where they would invest a large amount of their profit to  help reach their social objectives. Examples of social objectives include:
- Social Benefits
- Steeple factors - trying to play a part in resolving issues from the STEEPLE factors
- Growth/ Expansion in terms of improving efficiency for stakeholders such as staff consumers and beneficiaries
2. Whereas, for a public limited company, its main objective is to maximise profit for shareholders to receive good return on their investment. Examples of objectives includes:
- Steeple factors in terms of the profitable operation
- Growth and expansion of the company and product to generate profit. Aiming to satisfy stakeholders such as staff, shareholders and consumers.
- Christine

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9. Explain the risk of operating a business with Unlimited Liability.

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9. Explain the risk of operating a business with Unlimited Liability.

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Operating a business with unlimited liability is extremely risky as if the business goes bankrupt, your liabilities such as your house, furniture, care and all assets will be at risk
-Bryan Lam

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16. How can "ORGANISATIONAL CULTURE" be defined?

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16. How can "ORGANISATIONAL CULTURE" be defined?

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Organisational culture is how a business operates and how the workers of the business behave within the workplace.
- Struan

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15. Explain the level of INFLUENCE different Stakeholder Groups can have on an organisation. Give examples.

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15. Explain the level of INFLUENCE different Stakeholder Groups can have on an organisation. Give examples.

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Different Stake holder groups have different influences. For example investors are the primary stakeholders as they invest in the company and provide the company with financial stability. Customers are also a stakeholder and will have a difference influence on the organisation

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12. Explain how BRANDING can help achieve Economies of Scale.

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12. Explain how BRANDING can help achieve Economies of Scale.

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Economies of scale is when prices of a single unit of product start to decrease as a result of buying in large sums. Branding is crucial to help achieve economies of scale as suppliers will be certain that there will be  large amount of sales which means suppliers will be certain that the business is a business they can rely on.
-Bryan Lam

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13. Define the term 'Multinational Company'

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13. Define the term 'Multinational Company'

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Business organisations that have their headquarters in one country, but with operating branches, factories, assembly plants in other countries.

- Struan

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11. Explain how Product Development can help ensure customer loyalty.

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11. Explain how Product Development can help ensure customer loyalty.

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Show the attitude and impression  to the customer that our company will improve our products and aim to provide better goods to customers

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19. Explain the level of IMPACT the Government, as an External Stakeholder may have on a business start up.

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19. Explain the level of IMPACT the Government, as an External Stakeholder may have on a business start up.

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The government creates extra work and fees for the business and the business will have to

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17. Explain how ROLE CULTURE may increase efficiency in an organisation.

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17. Explain how ROLE CULTURE may increase efficiency in an organisation.

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As everybody in the organisation will have a set role, everybody will be focused on finishing their job and everything is very clear to employees which will ultimately increase efficiency.
-Bryan Lam

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14. Explain how a Force Field Analysis calculates a decision.

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14. Explain how a Force Field Analysis calculates a decision.

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The force field analysis is when you describe the plan or proposal for change in a box in the middle, and beside the plan there will be factors for change and against the change. Each factor needs to be ranked from 1 to 5 and will be added up at the end to see if the plan should be carried on or not.
-Bryan Lam

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20. How do Product Positioning Maps help the business plan for the development of a product?

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20. How do Product Positioning Maps help the business plan for the development of a product?

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- To give and show the details on the position of the product to consumer and investors in the business plan. It can attract investor to invest to their business as they are reading through the business plan.
- To introduce their products successfully. This can help the business to penetrate the market more easily and showing it in the business plan can show the consumers and investors more directly and easily.

---- Fiona

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21. Define "MARKET SEGMENTS" and give an example.

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21. Define "MARKET SEGMENTS" and give an example.

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Sorting buyers into groups or segments with similar interests and needs.

Example: age, interest, gender, lifestyle

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18. Outline and explain the benefits and limitations of Charles Handy's Power Culture. 

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18. Outline and explain the benefits and limitations of Charles Handy's Power Culture. 

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Charles Handy's Power Culture
The Benefits of an organisation like this includes a workforce that knows how they should behave and operate within the workforce. Workers who agree with the system will enjoy working for the company and will therefore produce better work. The limitations of this include members of the workforce not agreeing to the culture and the work they produce will not be done to the full potential just because they do not like the environment they work in.
- Struan