Session 5 Tackling the questions

Slides:

Advertisements

Similar presentations

AKUNTANSI MANAJEMEN. O The cost-volume-profit study is the manner of how to evolve the total revenues, the total costs and operating profit, as changes.

Advertisements

Read to Learn The four main ways to become a business owner and the advantages and disadvantages of each The different forms of legal business ownership.

MANAGEMENT OF MARKETING PRICING STRATEGIES. LEARNING INTENTIONS/SUCCESS CRITERIA LEARNING INTENTIONS: I understand the role of PRICING as part of the.

T OPIC B.1 U NDERSTAND THE PLANNING TOOLS BUSINESSES USE TO PREDICT WHEN THEY WILL START TO MAKE A PROFIT Ani spends £1000 on hiring a hall and disco.

ENTREPRENEURS IN A MARKET ECONOMY

Unit Causes of business failure. Objectives  To know what is meant by business failure  To know a range of different reasons why business fail.

Being a Business Owner Section 4.2.

Lesson 1: Pricing. Objectives You will:  Calculate price based on unit cost and desired profit  Compute margin based on price and unit cost  Maximize.

Cashflow recap What are the main inflows for a business? What are the main outflows? What term describes inflow – outflow? Sales revenue (number of sales.

1.1 Nature of Business Activity. Functions of Business Marketing Finance Human Resource Management Operations Management Relationships between them.

Business Studies Find your chair: Look at the picture what does this mean to you? Be prepared to answer if called upon: This does not require any verbal.

Business Development Services 1 What’s your pricing strategy? Session 6.

3.5.1 Ethics in business Is it ethical to sell fake goods?

 understand that administration involves the storing, processing, retrieving and disseminating of information to support the business functions (i.e.

Additional sample material. 1b) outline one benefit to a business of rewarding workers using a piece rate method of payment. 3 Paying piece rate will.

General exam advice Do not write too much on ‘give’, ‘outline’, ‘identify’ or ‘state’ questions as you WILL run out of time. E.g. a three mark question.

 Franchise - Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name.  Franchisee.

Supply. Price As price increases… Supply Quantity supplied increases Price As price falls… Supply Quantity supplied falls According to the law of supply,

Lesson 8.3B: Markup and Discount Change each percent into a decimal  5.5%  10.24%  29% .1%  1%  50%  5%    0.29   0.01.

E-COMMERCE Unit 2 Business Development GCSE Business Studies.

1 SG BUSINESS MANAGEMENT UNIT Unit 2-4 Contents F G Competition Recession Financial problems Not moving with the times C  Business cycle  Response.

3.3.2 H OW TO IMPROVE PROFIT I bought a car for £200 and sold it for £300. A month later I bought the same car for £500 and sold it for £600. Overall,

Idil Yaveroglu Lecture Notes

Entrepreneurship.

APPLIED GCSE BUSINESS STUDIES

Exam technique Knowledge Application Analysis Evaluation.

Small Business Test.

Idil Yaveroglu Lecture Notes

Changing the competitive environment

Exam Technique What were you taught last year about exam technique?

How are prices influenced?

Manage Your Cash Flow Effectively….

Executive Summaries Brief business description

Aggregate Planning Chapter 13.

Unit 3 General exam advice

Financial forecasting

Profit 3 lessons covering profit. We will look at: Calculation of:

AS Business Studies: Finance

AQA GCSE BUSINESS STUDIES

Production methods In this topic you will learn about Job Production

Remember to try and vary your answers – not all answers can end in “that will increase sales revenue and improve profits” FIRST YOU MUST check exactly.

3.2 Productivity Understand what is meant by productivity.

Part 1 Marketing Basics Chapter 4 Market Forces Ch4.

Profit and Loss Accounts

Revision list for Year 11 Mock Exam Revision section Tick

Re-order level formula:

Break-even BTEC L2.

The Business Plan.

Session 3 Fab Finance.

Marketing Mania.

Session 2 OMG! Operations.

Competition in a market economy

Unit 6 Finance Knowledge Organiser 6 The Role of the Finance Function

Unit 5: Marketing Knowledge Organiser 5 The Role of Marketing

The Marketing Mix: Price

The Measurement and Importance of Profit

Chapter 6: Estimating demand and revenue relationships

Estimating Revenues, Costs & Profits

The Question … Ahmed owns a stationary manufacturing business. He has changed the prices of some of his products. Ahmed has also changed his paper supplier.

Entrepreneurship Objective Part 2

Business revenue, costs and profit

Task 1 : Identify 5 PLC businesses that operate in the Evesham Area.

Revision Cards.

Sources of small business finance

How to study for Technology

Business plans.

Select A Type of Ownership

Why We Invest in Companies

Lovely Linked Strands Outline, explain, discuss, analyse, justify and evaluate questions all need linked strands.

Presentation transcript:

Session 5 Tackling the questions

Most common mistakes … Not answering the question Ignoring the instructions Answering it from the wrong point of view Not recognising the type of question Not giving enough detail Tip: Underline/highlight the key parts of a question

Not answering the question Always right something down Come back to it if necessary Can lead to some interesting answers…

Ignoring the instructions Read carefully How many answers are required? - three Exactly what is required? – identify and explain

The wrong point of view Two benefits to Kinetics plc Not benefits to the customers

The type of question Look at the ‘command word’ used Look at the number of marks Look at the number of lines available There are likely to be 1 or 2 level response questions

Command words Indicate the type of answer required Should make clear exactly what the examiner wants you to do More difficult ones are usually worth more marks

Developing answers Explain how the owner of a baked potato shop could increase profit levels?

Developing answers Explain how the owner of a baked potato shop could increase profit levels? The owner can charge higher prices. The owner can charge lower prices. The owner could increase advertising. The owner could buy cheaper raw materials. The owner could get rid of a member of staff.

Developing answers The owner can charge higher prices. The owner can increase sales revenue by charging higher prices as long as there is no competition.

Developing answers The owner can charge lower prices. The owner can lower the prices to increase the number of sales, but the increase in sales must make up for lost sales revenue and cover production costs.

Developing answers The owner could increase advertising. The owner could increase advertising as long as the cost of the increased advertising expenditure is covered by an increase in sales.

Developing answers The owner could buy cheaper raw materials. The owner could find a new supplier with lower prices, but this must not affect the quality or sales will fall.

Developing answers The owner could get rid of a member of staff. If the owner can manage with fewer members of staff they could make someone redundant, as long as this does not affect production levels.

Developing answers Give a ‘poor’ answer and a ‘good answer’ for each of the following: Why is a cash flow forecast important to a manufacturer of garden furniture? What is a pressure group? Explain one possible disadvantage of using postal questionnaires for market research. Why is quality control important in the manufacture of training shoes?