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Watch this videos: Then answer the question below

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Watch this videos: Then answer the question below

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3.3 Marketing Mix IGCSE Business Studies

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Fixed cost-  is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold.
Variable cost- is a corporate expense that changes in proportion to how much a company produces or sells
Total cost-TOTAL FIXED COSTS + TOTAL VARIABLE COSTS
TOTAL COST =   AVERAGE COST * OUTPUT
Total Revenue-  Total revenue is the full amount of total sales of goods and services.
Economies of scales- when mass producing good results in lower average cost.
Break-even point-The break-even point is reached when the total revenue exactly matches the total costs and the business is not making a profit or a loss
3 facts I lerent is how to calculate , answer question and learn new things.
Questation 1 and also the graph question will come out.
breakeven point

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Define or show formulas:
1. Fixed cost
2. Variable cost
3. Total cost
4. Total Revenue
5. Economies of scales
6. Break-even point

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Rent, materials, wages of staff

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Cost of labour, rent and cost of raw materials

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Starter: Business Studies Yr11( 4th Oct 2021)

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Starter: Business Studies Yr11( 4th Oct 2021)

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Think about cost production of shoe shop.

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Process: The Adidas Ultra Boost AKA "The World's Best Running Shoe"

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Job production is where a single product is made at a time.
Batch production where a quantity of one product is made,then a quantity of another item will be produced.
Flow production is where large quantities of a product are produced in a continuous process.It is sometimes referred to as mass production

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1)Job production, where a single product is made at a time. eg ships

Batch production, where a quantities of a product are produced in a continuous process. eg. furniture

Flow production, where large quantities of a product are produced in a continuous process(mass production) eg.cars

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1) Using examples, describe three methods of production goods and services
Production is about creating goods and services. Managers have to decide on the most efficient way of organising production for their particular product like for example clothing or online shopping .

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1) Using examples, describe three methods of production goods and services

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3 Method of production

Job production, batch production and flow production.

Job production is where a product is made individually from start and finish like a bridge.

Batch production is where a group of item are made together.

flow production is a product is passed along a production line raw materials are ready to sell.

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Job priduction produces goods or services for individual orders from customer

Batch production produces similar goods in large number in groups

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Job production provide good or service to an individual customer example wedding dress
Batch production provide huge amount for a variety product example T shirt
Flow production producing large number of something continually example soft drink Coca Cola

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Span of control is the number of subordinates work under a manager and chain of command is the structure in an organisation which allows instructions to be send form upper management to lower management
2.Advantage -communication is quicker and more accurate manager also is responsible for more subordinates
advantage- It gives sense of belonging employees could also know who they take ordersfrom

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Span of control refers to the subordiantes controlled directly by a leader. However, chain of command refers to the organisational structure of a business.

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i)Span of control is the number of subordinates working directly under a manager
ii)Chain of command is structure of an organisation that allows instructions to be passed on from senior managers to lower levels of management.
iii)Advantages
span of control-faster decision making with fewer employees within the organisation decisions can be made more quickly.
chain of command- simple structure helps organise a large number of employees quickly.

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1)Span of control refers to the number of subordinates controlled directly by a manager.
2)Chain of command is an official hierarchy of management that dictates who is in charge of whom and of whom permission must be asked to do something

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1）span of control- the area of activity and number of functions, people, or things for which an individual or organization is responsible
chain of command-a system in a military or civil organization by which instructions are passed from one person to another.
2）advantage of chain of command is it allows higher management to keep control over a large company and advantages of span of control is faster decision making

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1)Span of control is the number of subordinates working directly under a manager. Chain of command is the structure which allows instructions to be passed down from senior management to lower levels of management

2) Advantage of span of control, more delegation can be performed as more subordinates
Advantage of chain of command, By having a short chain of command information can be passed down quick as it has to go through lesser subordinates.

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1) What is span of control and what is chain of command
2) Explain advantage of each term.

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1.can have more customers
2.might not focus on the previous market
3.

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1）to have wider range of customer and increase sales
2）Different language and High trasport cost
3）Joint venture
-reduce risk and cost

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1) To emphasize competition and benchmarking activities.
2) They might not fully understand.
3)

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1) Why the firm enter new market?
Low trade barriers – low trade barrier allows businesses to easily and profitably trade between countries. Home markets are saturated – demand for the product are no longer growing the country
2) What are problem entering foreign market?
Difference in language and culture,Lack of market knowledge,Economic differences,

High transport costs

Social differences

and Difference in legal controls to protect consumers:

3) How to overcome the problems entering new market abroad?

Joint venture: an agreement between two or more businesses to work together on a project. The foreign business will work with a domestic business in the same industry. Eg:  Japan’s Suzuki Motor Corporation created a joint venture with India’s Maruti Udyog Limited to form Maruti Suzuki, a highly successful car manufacturing project in India.

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1)To have wider range of customers
2)culture differences
3)joint venture

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1)In order to increase market share and to grow their business.
2)They may have a lack of knowledge of the local culture and habits. They may also face issues with exchange rate as if the exchange rate is not stable the products may become to expensive to sell.
3)They could have a joint venture with a local business which can help them gain valuable local knowledge to be more familiar. They can also use licensing by giving licenses to other local businesses which can help save transport costs and get round trade restrictions.

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1) Why the firm enter new market?
2) What are problem entering foreign market?
3) How to overcome the problems entering new market abroad?

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1) DIstribution channel refer to a product is passsed from the place of production to the customer.
2) Direct customer and using an additional intermediary sudah as an agent.

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It is means by which a product is passed from the place of production to the customer.
1 direct to customer
2use a retailer as the only intermediary

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1) What is distribution channel means?
refers to a network of intermediaries who enable distribution of a product from the manufacturer to the ultimate consumer.
2)  List 2 methods of distribution channel.
wholesalers and retailers

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1.Distribution channel means a product is passed from the place of production to the customer
2.direct to customer,using a retailer as the only intermediary

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distrubtion channel is product is passed from the place of production to the customer or retailer

wholesaler and retailer

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1)distribution channel means that a product is passed from the place of production to the customer.
2)Direct to the customer and using an additional intermediary such s an agent.

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1)A distribution channel is the means by which a product is passed from the place of production to the customer.

2)Direct to consumers, using retailer as the only intermediary.

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Starter. E1 Business studies 21 June 2021

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Starter. E1 Business studies 21 June 2021

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1) What is distribution channel means?
2) List 2 methods of distribution channel.

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1)mean by product is passed from the place of production to the customer
2)direct sales,mail order

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1)distribution channel is the means by which a product is passed from the place of production to the customer.
2) Direct to customers

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1) distribution channel is the means by which a product is passed from the place of production to the customer.

2)  Direct to customers

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1.A distribution channel means by which a product is passed from the place of production to the customers.
2.Mail order and department store

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distribution channel is the means by which a product is passed from the place of production to the customers
through direct to customers

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1)distribution channel is the means by which a product is passed from the place of production to the customer.
2)direct to consumers and  using a retailer as the only intermediary

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1)distribution channels means is a product is passed by from the place of introduction to the customer
2)

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extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline.
change the packaging of the products

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The company can promote more about the product

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They can introduce new variations of the original product .
Sell into a new market .

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Extension strategy is a way of keeping a product at the maturity stage of the life cycle and extending the cycle
2)
a)Use a new advertising campaign
b)Introduce new variations of their original product

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extension is a way of keeping a product at the maturity stage of the life cycle and extending the cycle
make small changes to the products design
use a new advertising campaign

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Extension is a way of keeping a product at the maturity stage of the life cycle and extending the cycle.

Introduce new variations
Sell into new markets

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1. Extension strategies is ways of keeping a product at the maturity stage of the life cycle and extending the cycle.
2. The company can make small changes to the products design such as the colour or packaging. besides, the company can also sell their products in new market for example exporting their products to a new country.

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Extension strategy is a way of keeping a product  at the maturity stage of the life cycle and extending the cycle .

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What is extension strategies?
Two ways business may extend the life cycle of their product

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1. Cash is important to businesses as it is needed for the spending on goods and services.
2. Cash inflows are the sums of money received by a business during a period of time. An example of this would be the sales of products for cash.
3. Cash Outflows, on the contrary, are the sums of money paid out by a business during a period of time. An example of this would be paying wages, salaries, or other expenses/costs.

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Please write your name:
1. Write 1 reason why cash is important to business
2. What is meant by cash inflows and give one example.
3. What is meant by cash outflows and give one example.

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1. Cash is important because business needs to generate enough cash from its activities such as to start up their business.

2. Cash outflows are then sums of money paid out by a business during a period of time. For example, purchasing goods or materials for cash.

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1)cash flow is important to business to purchasing good or material for cash and  paying wages, salaries and other expenses in cash.

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1) for the payments to make the business run.
2) cash inflows is sums of money receive by a business during a period of time. examples, payments made by debtors.
3) cash outflows is sums of money paid out by a business during a period of time. examples, paying wages, salaries and other expenses in cash.

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1.) Purchasing materials for the business to use to better the quality of products and services that the business provides
2.) Funds received by a company due to sales, financing, or investments. An example could be income via advertisements
3.) Cash outflow

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1) Cash flow is important to keep production of goods and services going
2) Cash

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1) Cash is important to business because it will allow the business  to then pay workers, suppliers, landlord and government
2) Cash inflows are the sums of money received by a business during a period of time. An example is the sale of products for cash
3) Cash outflows are the sums of money paid out by a business during a period of time. An example is by purchasing goods or materials for cash

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1. it can enable the business to pay workers, suppliers, landlord, government.
2. Cash inflows: the sums of money received by a business during a period of time
Example: the sale of products for cash
3. Cash outflows: the sums of money paid out by a business during a period of time
Example: purchasing goods or materials for cash

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1.While a company can fudge its earnings, its cash flow provides an idea about its real health.
2.cash paid by customers for services or goods provided by the entity.
3. cash paid by customers for services or goods provided by the entity.

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1) Cash is important to business because business used cash for payment of things to operate such as raw materials, machinery and so on.
2)Cash inflows is any money received by a company due to sales of assets, investment and sales of products and inventory.
2) Cash outflows is money paid out by and organisation in invetment activities, financing activities and operating activities.

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1)its the lifeblood of a business and a business needs to generate enough cash from its activities so that it can meet its expenses and have enough left over to repay investors and grow the business.

2)Cash inflow is the money going into a business,Customer payments or bank interest

3)Cash outflow is any money leaving a business.

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1) Quality control is the checking for quality at the end of
the production process.
Quality assurance is the checking for quality standard throughout the production process

2)Quality control
Advantage - more effectively
Disadvantage- high cost if products have to be scrapped

Quality assurance
Advantage- tried to eliminate faults
Disadvantage- train employees to check the quality of    their own work at each stage of production

3)Total quality management is continuous improvement of products and focusing on quality at each and every stage of production

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1) Differentiate between quality control and quality assurance.
2) One advantage and disadvantage of quality control and quality assurance.
3) Explain what you understand by Total Quality Management

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1) Quality control is the checking of a product by an experienced inspector when it is completed, while quality assurance is the checking of a product by the employees within the business itself.
2) Quality Control:
Advantage: Less training required for workers as inspectors are hired to check the quality of the products
Disadvantage: Expensive. Inspectors need to be paid money to check the quality of the products
Quality Assurance:
Advantage: Reduced costs if products are not scrapped or reworked or service repeated.
Disadvantage: Relies on employees being committed to maintaining the standards set.
3) Total Quality Management ( TQM ) is the continuous improvement of products and processes by focusing on quality at each and every stage of production. In Total Quality Management, all workers are involved and responsible for the quality of the good or service being delivered. Closely linked on methods of lean production such as Kaizen, Total Quality Management seeks to remove any form of waste, with the best quality provided.

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1)Quality control can be defined as part of quality management focused on fulfilling quality requirements.
2)Advantage:price will reduce because there is less wastage and re-working of faulty products as the products is checked at every stage.
disadvantage:Time-consuming because it require lots of time to train the staff and high initial costs.
3)Total Quality Management describes a management approach to long-term success through customer satisfaction.

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1. quality control is checking the quality at the end of production process and quality assurance is checking quality standard at the production.
2. quality control:
advantages: less training
disadvantages: high cost if need to reworked.
quality assurance:
advantages: not many complaints from customer.
disadvantages: expensive to train the workers.
3. the business is involved in the continuous improvement of products and processes by focusing on quality at each stage production.

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1) Quality control is when you check for the quality at the end of the production process and quality assurance is to check for the quality throughout the production process

2) One advantage of quality control is that it tries to eliminate any faults or errors before the customer receives the product. One advantage for quality assurance is there are fewer complaints from customers. One disadvantage of quality control is that it is expensive since inspectors are employed to check the quality of the product. One disadvantage of quality assurance is it relies on employees to be committed to maintaining the standards

3) Total Quality Management is when everyone in the business is involved in the continuous improvement of products and processes by focusing on quality at each stage of production

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1) Quality control is checking the quality at the end of the production process.
Quality assurance is checking the quality standards throughout the production process.

2) Quality control-ad: less training is required for workers since they are employed to check quality.
dis: expensive as inspectors need to be paid to check the product or service.
Quality assurance- ad: fewer customers complaints.
dis: expensive to train employees to check the quality of their work at each stage of production.

3)Total quality management is continuous improvement of products and process by focusing on quality at each stage of production.

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Enson
Question 2
Advantage and disadvantages of quality control
Less training is require for the workers as inspectors are employed to check quality

Disadvantages
Expensive to check and pains product or services

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1)Quality control is the checking for quality at the end of the production process whether it is the production of a product or service
2)Advantages less training required for the workers Disadvantage expensive as employees need to be paid to check the product or service.
3)

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1) Quality control is checking the product at the end of the production process and quality assurance is checking the product after each stage of production.
2) (+) Quality control - Any defected products will not reach the customer. (-) Quality control - The company is unable to identify the exact area of production that is causing the problem.
(+) Quality assurance - The company can know which area of production is the problem in the production process. (-) Quality assurance - The employees need extra training at each area of production and be committed to checking the product's standard.
3) Total quality management is continuously improving and checking the product at each stage of the production process.

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1)quality control is checking for the product or services at the end of of the production process by an inspector, Quality assurance is checking for products at each stage by employees.
2)Advantage of quality control- ensured no defects and faulty products reach customers. Less training to workers.
Advantage of quality assurance- eliminate faults at each stage of production process. Less customers complaints.
3)TQM is continuous improvement of quality of products at each stage of production.

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1) Quality control is the checking of quality at the end of the production whether it is a service by using an inspector while Quality assurance is the checking for quality standards throughout the production process by employees.
2) Advantage (QC): tries to eliminate faults or errors before the customer receives the product
Disadvantage (QC): Expensive to hire an inspector
Advantage (QA): Tries to eliminate faults or errors at all stages of production before passing on to the next stage
Disadvantage (QA): expensive to train employees to check the quality of their own work at each stage of production
3) the continuous improvement of products and processes by focusing on quality at each and every stage of production.

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1)  Quality Control is when you check the quality of goods and services at the end of the production and Quality Assurance is when the goods and services are checked at each stage of production

2) Advantages:
- For Quality Control, the faulty products won't make their way to customers
- For Quality Assurance, there will be no faulty products since it is checked at each stage

Disadvantages
- For Quality Control, it is expensive to hire an inspector but also the product will have to be thrown away, making unuseable and just adding more to the total cost
- For Quality Assurance, it is again, expensive to hire an inspector but this time there has to be more than one or one group of inspectors since they need them at each stage of production

3)

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Student Click (+) to write their answer.

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Student Click (+) to write their answer.

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Question1 a) Identify and explain two ways in which hotel will benefit from well motivated employees (8 marks)

Remarks: Don't forget to write your name :)

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There are some reasons for hotel can benefit from well motivated employees. Good motivated employees can make sure the they have clear target and ways to improve the sales and the profit for the hotel. And that also can be a good way to keep the enthusiasm of the staff

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Well motivated employees can give benefits to the hotel. High productivity(high output per worker)-if employees are motivated, they will work effectively like good customer service and it could bring higher profits and help to keep costs low for the hotel. Low labour turnover(a loyal workforce)-if the hotel motivates its employees, the employees will be more loyal and it will also reduce the cost of recruiting employees who leave

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Motivated hotel employee can provide customer with good services as they are more friendly and  helpful towards the hotel's guest, thus the hotel will have a great business satisfaction and new customers will be introduced into that business for its great reputation.
Well motivated hotel employees will work more efficiently toward the business like time efficient and cost efficient. The hotel will also enjoy overall cost savings especially in term of salary because the job done per employee is more. ( It wouldn't let me continue :(

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KarHui
Well motivated employees will bring many benefits to the hotel. Firstly motivation can come from the enjoyment of the work itself or from the desire to achieve certain goals example get a bonus, increase the wages. It can also come from the sense of satisfaction gained from completing something, or achieving a successful outcome after a difficult project or problem solved. So the employees will lower the level of absenteeism as the employees are content with their working life and they will work harder to get a bonus. Other than that, contented workers give the firm a good reputation as an employer so making it easier to recruit the best workers.

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There are several reasons why employee motivation is vital. Mainly because it allows management to satisfy the company’s goals. Without a motivated workplace, companies can be placed in an exceedingly very risky position.
Motivated employees can result in increased productivity and permit an organisation to attain higher levels of output. Imagine having an employee who isn't motivated at work. they'll probably use the time at their desk surfing the web for private pleasure or perhaps trying to find another job. this can be a waste of it slow and resources.
When employees are motivated to figure, they'll generally put their best effort within the tasks that are assigned to them.An employee’s efficiency level isn't only supported their abilities or qualifications. For the corporate to urge the best results, an employee has to have an honest balance between the flexibility to perform the task given and willingness to require to perform the task. This balance can result in a rise of productivity and an improvement in efficiency.

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4.4 Location Decisions IGCSE Business Studies

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4.3 Achieving Quality Production IGCSE Business Studies

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Unit 4.2 Costs, Scale of production and Breakeven Analysis

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Unit 4.2 Costs, Scale of production and Breakeven Analysis

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4.2 Costs, scale of production and break even analysis

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Unit 4.1 Production of Goods and Services

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Unit 4.1 Production of Goods and Services

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4.1 Production of goods and services IGCSE Business Part 1

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Well motivated employees can benefit the hotel by improving the reputation of the hotel. This is because the employees are motivated to do their job well and therefore staff, such as receptionists, will offer a better service to customers. This will not only make the hotel more reputable, it will also increase customer loyalty and revenue. Well motivated employees can also be beneficial towards the hotel as the hotel is more able to work towards the set business objectives. Since employees are more committed to the business, employees would put more effort into assigned tasks like housekeeping and customer service and are more keen to work together and achieve the business objectives, such as growth of the business. This means that the business have higher chance of being successful in terms of survival and expansion.

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Marketing strategy: Customer Protection Law

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Marketing strategy: Customer Protection Law

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Well motivated employees will bring many benefits to the hotel.Firstly,this will help to increase  the number of customer.The workers will try their best to keep the cost ,such as shampoos,toilet papers,beds,chair or some grocery.They will also try their best to attract customer to pay for live in the hotels,like introduces what public utilities the hotel has,or how much for live in the hotel for one night.When the number of customers increase,the hotel will getting famous and this will bring huge profit.Furthermore,well motivated will reduce the rates of absenteeism.The employees will feel they are important for the hotel,so they will feel happy when they go to work.if they feel happy to work,they will give customers good service.This will help to build good image for the hotel.Also,when there are enough employees,the hotel will not be busy and every customer willl be take care well.The income of the hotel will increase.

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Motivated employees will bring lots of benefits to the hotel.Firstly,a motivated employee will work more efficient so the hotel can reduce the expenses on employing more workers and have lower rate of employee turnover.They will serve the customer in a better and faster way.When customers arrived at the hotel, they will help them check-in as quick as possible in a good manners and this will made the customers feel that they are being respected.This will improve the hotel’s brand image.With a good brand image, there will be more customers going to the hotel so the hotel’s sales and profit will increase.Every hotel’s employees should be motivated.

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A well well motivated employees could benefit hotel in many ways. with high motivated employees, i believed that they will be better in productivity. Not only that, the entire workplace could be a very positive and happy environment to the hotel. Customers can be well take cared by the employees. This could lead to increase sales because of good image. Since employees are more committed to the business, employees would put more effort into assigned tasks to keep them motivated. The employer could award them to be more motivated by giving them raise, bonus, annual gathering or even trip. Lastly, since employees will be more even keen to work harder

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Yew Quan
Well motivated employees could benefit the hotel in different ways. There are only more and more benefits for the hotel as the employees are well motivated. As they are well motivated, so they work in very efficient way and try to do their best in order to improve the hotel’s profit and sales too. Furthermore, the better the efficiency of the employees, the better the hotel will gonna be. Recognise their achievements by provide them services like free accommodation, reward or bonus, business trip, salaries increase and so on. The more of these services provided to the employees, the harder the employees will help the hotel to increase the sales. As they have their aim when they’re working, or a better idea is to give some days for the employees to experience of staying in the hotel or company’s other services and this could really motivate them to work so to get all those services from the company. Last but not least, motivation is to encourage them to work more, work hard and work smart too as the business’ main aim is to earn money.

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Identify and explain two ways in which hotel will benefit from well motivated employees (8 marks)

Hotel will benefit well motivated employees with many ways. First is recognize their achievements because if some of your employees have been performing well, recognize them at the employee of the month or staff meeting and take a minute to explain what they did and how it can benefited the hotel team. In addition, this can this will let your higher management know that you appreciate them. Moreover, give them rewards because praise and identification are good rewards in the short term, but when someone has worked at your company for a year or more and done a great job, you should reward them with something more substantial.