Assessment
Bespoke Kitchens
1 (a) Explain two advantages and two disadvantages of the company operating as a partnership. [8] Explain two advantages and two disadvantages of a business being a partnership. Award 1 mark for each...
Assessment
Case study (Bespoke Kitchens)
BK established itself in country A, 20 years ago and are well established there. They are a partnership and fairly large in size, compared to other similar businesses in the area. They design, manufacture...
Unit 6: External factors
Glossary of terms unit 6
Appreciation - When a currency rises in value, relative to other currencies as a result of changes in supply and demand. Balance of payments - The value of export revenues minus import revenues. Business...
Unit 5: Financial information
Glossary of terms unit 5
Acid test ratio - Sometimes referred to as the quick ratio, the acid test ratio measures (current assets - stock) / current liabilities and records whether a company has sufficient cash and accounts payable...
Unit 4: Operations
Glossary of terms unit 4
Average costs - Represents the unit cost of production and is calculated by dividing total costs by the number of units produced. Automation - The application of technology, programs, robotics or processes...
Unit 3: Marketing
Glossary of terms unit 3
Advertising - The practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers....
Unit 2: People
Glossary of terms unit 2
Abraham Maslow - An American psychologist, famous for his ‘Hierarchy of Needs' theory’ on motivation, which emphasizes the urge of managers to satisfy the needs of people working in the organisation....
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Unit 1: Business activity
Glossary of terms unit 1
Business activity: An event or events that a corporation might undertake in order to make a profit. Business plan - A written document detailing a company's goals and how they intend to achieve them....
Unit 2: People
Unit 2.1 Human resources activity sheet
You are in charge of recruitment for Oxlaid zoo in Chessington. You have been charged with recruiting a new zookeeper. The person you choose to recruit will be responsible for maintaining the animals...
Assessment
Paper one - guidance on the short answer paper
In paper one you will have a short piece of text which will form the basis for your responses. With a total of 20 marks for each question, the question begins with two short answer questions involving...