Understanding Business

Homework 1

1. Identify 4 characteristics of becoming an entrepreneur

(4)

2. Describe the role of an entrepreneur

(1)

3. Describe the features of a partnership in terms of finance, control and ownership.

(3)

4. Describe 2 advantages and 2 disadvantages of being a sole trader

(4)

5. Describe and justify 2 sources of finance

(4)

6. Identify 2 aims of a public sector business

(2)

 

Marketing

Homework 1 
 
1 Describe 2 advantages and 2 disadvantages of using Desk Research. (4)
 
2 Identify 3 ways of segmenting a market.  (3)
 

Homework 2 
 
1 Identify 2 stages a company will go through when developing a product. (2)
 
2 Describe 4 stages of the product life cycle. (4)
 
3 Explain why an organisation would want to brand their product. (2)
 

Homework 3 
 
1 Identify and describe 2 pricing strategies a company entering a competitive market could use.(4)
 

Homework 4 
 
1 Identify 2 types of promotion available to an organisation.
Justify why each one would be used (a different justification must be given for each).(4)
 

Homework 5 
 
1 Describe 2 advantages of using a retailer as part of your chain of distribution.(2)
 
2 Identify and describe 2 location factors that you would need to consider when setting up a business.(4)

 

Operations

Homework 1 
 
1 The Operations process is:

• I
• P
• O

Complete the blanks and outline each stage of the process. (6)
 
2 Describe 2 roles of the Operations Department. (2)
 

Homework 2 
 
1 Explain 3 factors an organisation must consider when choosing a supplier. (3)
 
2 Identify 3 types of stock. (3)
 
3 Describe 2 problems of having too little stock and 2 problems of having too much stock. (4)
 

Homework 3 
 
1 Describe 3 factors a business must consider when deciding on a Method of Production. (3)
 
2 Identify the 3 Methods of Production. (3)
 
3 Give one advantage and one disadvantage of using Batch Production. (2)

Homework 4 
 
1 Identify and describe 2 methods of ensuring a high quality product.  (4)
 
2 Describe 2 ways businesses can be socially responsible. (2)

 

 

People and Finance

Question 1

Describe the stages in the recruitment and selection process
(4 marks)

Question 2

Explain why a company may choose to use external advertising as opposed to internal
(2 marks)

Question 3

Identify a type of training for each of the following people:
(3 marks)

a)      Millie needs a qualification to progress in her accounting career

b)      John has just begun a new job and is unsure of how everything works in the organisation

c)       Rebecca is a cashier and needs updated on the new system that is being used in the branch

Question 4

Describe the costs and benefits to an organisation of carrying out staff training
(4 marks)

Question 5

Identify and describe two forms of non-financial motivation
(4 marks)

Question 6

Identify and describe to forms of flexible working practice
(4 marks)

Question 7

Describe the following terms:
(3 marks)

• Trade Unions
• ACAS
• Collective Bargaining

Question 8

Identify and describe two forms of industrial action
(4 marks)

Question 9

Describe 4 principles of the Data Protection Act 
(4 marks)