Biz Studies by

1e) Joval

lim_jia_yan_joval — 2022-01-04 03:00:38 UTC

1a) Role 1: To arrange training programmes for employees
Role 2: To decide on the wages of employees

1e) If external manager was recruited, there will be new ideas (A) ICC might become more efficient in a production of ice cream (Ae) However, it might take time for the person to understand ICC culture (D) there might be conflicts with the junior managers (De) In conclusion, I think that ICC should not recruit external manager because the junior manager might feel discourage if ICC recruited external manager and they might quit.

2d) Amalia & Joval

lim_jia_yan_joval — 2022-01-14 03:43:37 UTC

If ICC should train using on-the-job because it cost lesser than off-the-job training.

however, if they use off-job training a board range of skills can be taught using these techniques. This helps ICC with their work better customer services and quality of the ice cream

2d) Jude, Ray & Aryisha

2022-01-14 03:43:52 UTC

if the newly recuited employees are trained using on-the-job training, it might be cheaper than off-the-job training as it does not require additional transport or equipment. however, if they are trained using off-the-job training, they would be trained by trainers who are very knowledgeable in business practices, thus increasing the new employees' quality of customer service. i think that new employees should be trained with on-the-job training, as new employees can ensure some production is done during training, especially as several of ICC's
employees have already been sent to off-the-job training.

E.g. 1 &2: Aryisha Joval & Amalia

lim_jia_yan_joval — 2022-01-14 14:11:39 UTC

Example 1
- Visual communication 🧡
- Poster 🧡
- Posters can show a picture of a cigarette with a dash across it therefore the people can understand immediately 🧡 that they're not supposed to smoke in the staff canteen.

Example 2
Face-to-face 💜
meeting 💜
Since the management is introducing a new computer system which none of the employees know about, meetings can help employees how to understand the new computer system as the management can demonstrate 💜💜💜 and answer questions from the employees to clear any confusion. 💜

e.g. 2&3, jude, ray

2022-01-16 15:41:02 UTC

3. method: visual 💚
examples: posters 💚
explanation: they can put up posters that contain an endorsement by a celebrity 💚, as well as list down the quality ingredients 💚 of the perfume.

4. method: verbal 😬
example: meetings
explanation: the supervisor can use a meeting to express his feelings in a stronger way toward the worker

1b) Ray 1b) Jude 1e) Joval and Amalia 2b) Aryisha 2c) Jude 2d) Ray and Aryisha 2d) Joval and Amalia

msleesuetchow — 2022-01-17 02:48:08 UTC

1b] not Ray

2022-01-17 02:52:06 UTC

Disadvantage 1: The noticeboard might be hard for some workers to interpret 💔 <- not the fault of the noticeboard 🤕

Disadvantage 2: No feedback would be made between the employee and workers which might lead to the employee needing to use other form of communication to check if their workers understand the message on the noticeboard. <- Confusing answer

2b) Aryisha

2022-01-17 02:53:28 UTC

Informal communication is when message is sent using every day language. It is less professional and more casual.

1b) Jude

2022-01-17 02:57:41 UTC

Disadvantage 1: direct feedback is not possible 👍

Disadvantage 2: the language being used can be difficult to understand 💔 <-- could be difficult even if it's through email or letter right?

2d) Ray and Aryisha

2022-01-17 03:06:09 UTC

if ICC uses the same method of communication in all situations, their workers can easily find where to get information from 👍, this could lead to lesser confusion between workers (okay but apply to business in case study). However, by using the same method of communication, workers might feel harder to be notified on if the information is updated or not <- rephrase this point; confusing to read, this might lead to slower decisions in the workplace of the cafe and factory. <-👍 BUT the 'D' must be awarded a mark for you to get the De mark I think ICC should not use the same method of communication in all situations as the other methods have good advantages yES You did not justify your answer at all.

1e) Amalia & Joval

lim_jia_yan_joval — 2022-01-17 03:09:48 UTC

If ICC only communicate with employees using electronic methods, it is a quick way to reach a large of number employees. 👍 This would not waste time leading to groups of workers talking together in the corridor about the message and customer service might be more efficient. 👍 However, employees might not check their emails. 👍This might lead to no communication and slower sales are made. 👍

And then??? Where is your conclusion??? I said 'Don't spend too much time on conclusion.. not don't spend any time at all!'

2c) Jude

msleesuetchow — 2022-01-18 00:12:57 UTC

Advantage 1: There is evidence <- any better word? of a message
Explanation: Senior managers of ICC can refer to the message in the future, in case they forget how much ice cream they would have to produce 👍

Advantage 2: Quick and easy What?
Explanation: As an email is sent through the internet, the factory and the senior managers can access the message immediately 👍 and efficiently.

2d)

msleesuetchow — 2022-01-18 02:44:41 UTC

Jude: a) To increase competition among businesses.

msleesuetchow — 2022-01-18 03:01:12 UTC

Joval: b) Cash flow / Location

msleesuetchow — 2022-01-18 03:06:57 UTC

Jude: d) Promote brand name / image + To attract customers +Show information about ingredients in the sweets + To protect the sweets from damage

msleesuetchow — 2022-01-18 03:08:50 UTC

Joval: d) [k] + [ap] apply to sweets + [an] outcome

msleesuetchow — 2022-01-18 03:13:07 UTC

2d)

msleesuetchow — 2022-01-21 03:32:30 UTC

In conclusion, I think that new employees should be trained using on-the-job training. This ensures that there are enough workers to serve customers in the cafe. It can continue to operate efficiently and not keep customers waiting.

1e)

msleesuetchow — 2022-01-21 03:38:15 UTC

In conclusion, a business should not only use electronic methods. Some messages require other communication methods, for example, face-to-face meetings should be used to teach a new skill or discuss a decision so that immediate feedback can be given and received.

aryisha

2022-01-24 02:42:21 UTC

factor: Always Fitness should consider whether or not the prices of their services is similar to other competitor’s prices.👍
exp: If both the companies are providing the same services 👍 Always Fitness might lose customers 👍 if they increase their prices for their services.

Factor: The impact of the brand image customers might feel that the customer service is better than other competitors because of the quality of the equipment, this might attract customers to sign up for AF membership. - Joval :(

2022-01-24 02:43:03 UTC

jude

2022-01-24 02:43:33 UTC

factor: other competitors' prices 👍
explanation: other gyms might charge less than what AF charges 👍, which might encourage potential customers of AF to move to sign up with other gyms 👍

ray

2022-01-24 02:45:29 UTC

Factor: level of competition 👍
Explanation: they should check if the competitors sell similar membership prices 👍 so that AF would not lose customers to other competitors 👍

rAY

2022-01-24 02:51:04 UTC

If AF expand the biz by selling franchises, AF would be paid with a licence fee [adv👍] and gain more profits 👍 where AF would be able to afford for more better/good quality equipments or hire/train more workers?

jude

2022-01-24 02:52:48 UTC

if AF expands by selling franchises, they would have to pay for the training and advertising for the franchisee [disadv👍], which might ~~take away~~ incur business costs 👍 that could have gone toward higher quality equipment.

Joval

2022-01-24 02:54:15 UTC

However, if AF expanding the business by selling franchises they might not have a good image if one of the franchises affect the business by not providing good services. [disadv👍] This ~~allows~~ will lead to AF to have a bad reputation 👍 ~~towards other franchises~~ and customers might not want to sign up to AF and choose other competitors.

aryisha

2022-01-24 02:55:15 UTC

If Always Fitness expands their business by selling franchises, the expansion of Always Fitness might be much faster. [adv👍] This can increase customer awareness 👍 and also might lead to an increase of sales.

JOball (Job production)

2022-01-27 01:40:08 UTC

Adv: Offers varied challenging jobs
Disadv: Time-consuming
E.g. : Customised birthday cake

ray

2022-01-27 01:40:46 UTC

method of production : batch production
adv: production can be changed from one product to another
disav: more warehouse space is needed
e.g serveral houses are made using the same design and structure YeS

jude

2022-01-27 01:40:46 UTC

method of production: batch production
adv: workers can be efficient in batch production as there is no specific order/method of production
disadv: more storage space needed for raw materials and finished goods
e.g: clothing

aryisha

2022-01-27 01:41:24 UTC

method of production: flow production
adv: Improves morale of the employees.
disadv: Might be time consuming.
e.g. A car manufacturing company. One station works on the tyres of a car while the other works on the painting of the car.

amalia

2022-01-27 01:41:39 UTC

method of production: job production
adv: It increases employees motivation and morale
disadv: It can be time consuming and expensive as it is labour intensive.
example: A customer can order for a particular flavoured birthday cake or made to measure suits.

2022-01-27 01:41:51 UTC

1a) Amalia 1b) Joval 1c) Ray 1c) Aryisha 2a) Jude 2b) Amalia

msleesuetchow — 2022-02-07 05:53:51 UTC

rAy

2022-02-07 14:30:18 UTC

1c] Way: Productivity of BCC is greater as new, Explanation: more efficient methods are used, reducing average costs. BCC would be able to produce many clothes and would be able to reply to high demands from customers, gaining a better reputation from customers/buyers.

2022-02-08 09:41:57 UTC

jude (2a)

2022-02-08 14:02:27 UTC

1. introduce more machines to produce clothing
2. improve the layout of the machines

Joval 1b)

2022-02-08 15:13:03 UTC

Batch production is where similar products are made in blocks or batches

amalia

2022-02-10 00:54:42 UTC

1a) Reason 1: To meet unexpected increase in customer demands
Reason 2: To prevent delays in deliveries of supplies

jude and amalia

2022-02-10 01:10:24 UTC

(1c)
reason 2: there is a wide variety of designs for all the market segments that BCC targets.
explanation: BCC can manufacture clothing in children and adult sizes

aryisha and ray

2022-02-10 01:11:06 UTC

1(c) reason 1: A small quantity for each type of clothing is produced
exp: BCC would be able to manufacture clothes for men, women and children.

ray

2022-02-10 01:19:47 UTC

1d) Explanation: BCC would be able to gain a good reputation [1] from customers and therefore attract more customers to buy their clothes [1]

amalia

2022-02-10 01:20:41 UTC

1(d) way 2: better quality of clothes is produced.
explanation: BCC would be able to attract more customers…

aryisha

2022-02-10 01:22:32 UTC

(1d)
way2 : better quality of clothes.
exp: ~~Without~~ By using technology, there’s a less risk of human error [1] (fewer defects). This way, BCC can attract more customers [1] with their improved quality of clothes.

jude

2022-02-10 01:22:59 UTC

(1d)
way 2: better quality of clothes are produced
exp: machines might cause less production problems (fewer defects) [1], and might ~~help~~ maintain/build BCC's brand reputation [1] as high-quality

jude and aryisha

2022-02-10 01:34:46 UTC

(1e)
if BCC invests in new machinery for manufacturing clothing, it can make workers' jobs more easier 🐸 as it is less labour intensive. [< production methods become less complex] however, some workers at BCC may lose their jobs 🐸, as they are going to be replaced my machinery, that can do work more efficiently. 🐸 in conclusion, BCC should invest in new machinery, as it increases the output 🐸 of clothing, earning BCC higher sales and can guarantee?? bonuses 🐸 for workers

ray and amalia

2022-02-10 01:40:11 UTC

If BCC invest in new machines, worker's job would be easier🐵 and this could increase the efficiency of manufacturing more clothes. < not a benefit to workers? However, unemployment of workers might occur 🐵 and morale of workers might be low. 🐵 I think that BCC should invest in new machines as there would be higher output 🐵 and so BCC would earn higher sales. < benefit to workers?

-morale - mood and motivation

1(a)(i) and (ii) Jude

2022-03-02 05:34:13 UTC

1a)(i) $3000
1a)(ii) $3

1(a)(ii) Joval and Ray

2022-03-02 05:36:57 UTC

a)(ii) $3

1b) Amalia n Aryisha

2022-03-02 05:39:25 UTC

total costs = 4000(1)+$4000= $ 8000
avg costs = $8000/4000= $2

1d) Amalia n Aryisha

2022-03-02 05:41:05 UTC

E.O.S. 1: Purchasing economies of scale 🦄
Explanation: BCC can benefit from purchasing economies of scale as they can get discounts buying fabrics for their clothes in bulk. 🦄 This can attract many customers as they are able to lower the selling price 🦄.

1c) Joval and Ray

2022-03-02 05:42:15 UTC

Diseconomies of scale 1: Lack of commitment from employee
Explanation: Workers might feel unmotivated as they are unable to meet their manager due to the long chain of command 😘

1c) Jude

2022-03-02 05:43:00 UTC

1c) Disadv: weak co-ordination from workers
Exp: Workers might not receive the correct instructions, and might manufacture clothing at the wrong size 😍😍

1d) Jude

2022-03-02 05:48:32 UTC

1d) E.O.S. 2: Financial economies of scale🦓
Explanation: BCC could benefit from financial economies of scale, as BCC can raise capital more cheaply, and banks can thus charge BCC a lower rate of interest. 🦓 This could save BCC on business costs 🦓 that they could use to invest in more machinery.

1) Ray and Jobal

2022-03-02 05:49:04 UTC

Economies of scale : Managerial economies of scale 🐲
Explanation: BCC can hire specialist managers as they have professional skills 🐲 ~~then~~ than other small business, this benefits BCC to increase their efficiency ~~in BCC clothing~~
in producing clothes.

msleesuetchow — 2022-03-03 01:10:07 UTC

Low quality products will cause businesses to:

msleesuetchow — 2022-03-07 00:50:45 UTC

1a) Define 'quality product'. [1M]

msleesuetchow — 2022-03-07 01:12:47 UTC

1b) Identify two reasons why maintaining quality products is important to BCC. [2M]

msleesuetchow — 2022-03-07 01:13:11 UTC

1c) Outline two drawbacks of using quality control for BCC. [4M]

msleesuetchow — 2022-03-07 01:13:39 UTC

1d) Explain two effects for BCC of sending out faulty items of clothing. [6M]

msleesuetchow — 2022-03-07 01:14:07 UTC

1e) Do you think the directors of BCC should change to quality assurance? Justify your answer. [6M]

msleesuetchow — 2022-03-07 01:14:32 UTC

kweell

2022-03-07 03:02:01 UTC

msleesuetchow — 2022-03-09 03:32:10 UTC

msleesuetchow — 2022-03-09 03:33:10 UTC

msleesuetchow — 2022-03-09 03:34:41 UTC

What are the factors that affect the location of a retail business?

msleesuetchow — 2022-03-10 01:11:26 UTC

1(e) Which site do you think BCC should buy? Justify your answer.

msleesuetchow — 2022-03-28 02:20:54 UTC

Internal source of finance:

msleesuetchow — 2022-03-30 03:55:25 UTC

External source of finance:

msleesuetchow — 2022-03-30 03:55:35 UTC

msleesuetchow — 2022-03-30 04:00:39 UTC

Take note:

msleesuetchow — 2022-03-30 04:56:01 UTC

1. Use the details in the case study. E.g. '$100 000' / '$500 000' / '5 km from existing factory' ...

2. Don't jump to conclusions: E.g. 'workers live near factory' / 'new site is nearer to the port' so BCC will be more efficient. <- No.

1(c) adv: Joval; 1(d) disadv: Ray;1(e) Aryisha and Jude (pairwork)

msleesuetchow — 2022-03-30 05:35:58 UTC

d)

2022-03-30 05:39:04 UTC

Disadv: If the total amount required is not raised for TT, the finance that has been promised will have to be repaid
Exp: time is wasted and Ted would take longer ti start his biz

1c) Adv: Joval

2022-03-30 05:41:36 UTC

Adv; It is fast way to raise ~~subtantial~~ large sums
Exp; Ted will be able to buy more taxi cabs

1e)

2022-03-30 05:41:50 UTC

if ted sets up an overdraft, ted will be able to use the finance to pay his taxi drivers quickly. thus, ted would now owe ant of his workers wages. However, it might be very risky for Ted as the interest rates are variable and it might be very expensive to pay for the interest.

2022-03-30 13:43:13 UTC

Short term finance

msleesuetchow — 2022-03-31 01:05:39 UTC

Long term finance

msleesuetchow — 2022-03-31 01:05:50 UTC

2(d) Do you think Ted should take out a loan or sell more shares in the private limited company when expanding the business? Justify your answer. [6M]

msleesuetchow — 2022-03-31 01:20:01 UTC

jude

2022-03-31 01:24:23 UTC

2d) if ted takes out a loan, banks might offer TT a low interest rate if they borrow a large sum of money. [1] this saves TT on business costs, [1] ~~resulting in an increase in profit.~~ however, if ted sells shares as a private limited company, ted would not have to pay back [1] any of the shareholders' investments. this provides TT with a permanent source of capital they could use to further expand his business. X in conclusion, i think ted should take out a loan as it is often quicker to arrange [1] than selling shares and could become less time-consuming X

Q2d)Joval

2022-03-31 01:25:18 UTC

If ted take out a loan ~~in the private limited company~~, ted business might be offered low rates of interest by banks if they borrow large sums. [A1] However if ted sell more shares, a permanent source of capital [A2] which would not have to be repaid to shareholders. [Ae] Allowing ted to feel less risky, towards his business. In conclusion, i think that ted should sell debenture ❌instead because it can be used to raise very long-term finance.

d) rray

2022-03-31 01:25:20 UTC

If Ted decides to take out a loan to expand his business, Ted would be offered with low rates of interest by banks if he borrows large sums [1] where Ted would be able to expand his business more quickly. [1] However, if Ted decides to sell more shares in the private limited company when expanding the business, he would be able to save more on his business cost as shareholders invests in his business. (b) I think that Ted should sell more shares to expand his biz as he would not need to pay for any interest <-- (a)

aryisha

2022-03-31 01:25:23 UTC

If ted takes out a loan, it is less time consuming [1] for him to increase the capital for his business and this might allow ted to expand his business faster. [1] However, selling more shares can… ??? In conclusion, I think that Ted should take out a loan as since his business is successful, banks might offer him a low interest rate ✔ as they might trust him to pay them back . If Ted sells more sell more shares, he might have to pay them dividends and he might have less control of his business. ✔

2022-03-31 01:35:10 UTC

msleesuetchow — 2022-04-05 02:01:04 UTC

1a) Calculate the figures for A, B, C, D and E from Table 24.1.

msleesuetchow — 2022-04-05 02:03:35 UTC

1b) Define 'income statement'.

msleesuetchow — 2022-04-05 02:06:41 UTC

1c) Explain two reasons why making a profit is important to TL. [6M]

msleesuetchow — 2022-04-05 02:07:06 UTC

1d) Do you think a business should focus on increasing profit (Ray) or increasing revenue (Amalia)? Justify your answer. [6M]

msleesuetchow — 2022-04-05 02:08:30 UTC

2b) Identify two examples of expenses for TTL. [2M] - Joval

msleesuetchow — 2022-04-06 04:47:24 UTC

2c) Outline two reasons why retained profit might have increased over the two years shown in TTL's income statements.

msleesuetchow — 2022-04-06 04:47:55 UTC

2e) Do you think Ted should reduce dividends (Jude) or increase prices (Aryisha) if he wants to increase TTL's retained profit? Justify your answer. [6M]

msleesuetchow — 2022-04-06 04:49:16 UTC

2022-04-10 10:04:18 UTC