PAPER 1
SECTION A
(a) 2 marks Paper 1
(a) Define the term ‘opportunity cost’. [2]
(a) Define the term ‘leadership’. [2]
(a) Define the term ‘motivation’. [2]
(a) Define the term ‘workforce planning’. [2]
(a) Define the term ‘contract of employment’. [2]
(a) Define the term ‘redundancy’. [2]
(a) Define the term ‘training’. [2]
(a) Define the term ‘customer (market) orientation’. [2]
(a) Define the term ‘market segmentation’. [2]
(a) Define the term ‘random sampling’. [2]
(a) Define the term ‘price discrimination’. [2]
(a) Define the term ‘price elasticity of demand’. [2]
(a) Define the term ‘intellectual capital’. [2]
(a) Define the term ‘productivity’. [2]
(a) Define the term ‘job production’. [2]
(a) Define the term ‘venture capital’. [2]
(b) 3 marks Paper 1
(b) Explain two reasons why many new businesses fail in their first year of operation. [3]
(b) Explain two qualities of a good leader. [3]
(b) Explain two benefits to a business of having motivated employees. [3]
(b) Briefly explain two benefits to a business of workforce planning. [3]
(b) Explain two advantages to an employer of using a person specification. [3]
(b) Briefly explain two advantages to employees of having a contract of employment. [3]
(b) Briefly explain two benefits to a business of training employees. [3]
(b) Explain two limitations of niche marketing. [3]
(b) Briefly explain two reasons why a business might segment its market [3]
(b) Explain two advantages to a business of using primary (field) market research data. [3]
(b) Explain two disadvantages to a business of using price discrimination. [3]
(b) Explain two functions of an operations management department. [3]
(b) Explain why a business might choose flow production as a method of operation. [3]
(b) Explain two reasons why a business may use equity finance. [3]
(b) Explain two ways that venture capitalists might help a business. [3]
5 marks Paper 1
Explain why the objectives of a business may change over time. [5]
Explain how the interests of two stakeholder groups could affect the decisions of a business. [5]
SECTION B
(a) Analysis 8 marks Paper 1
(a) Analyse the impact of social enterprises on the development of a country. [8]
(a) Analyse the difference between autocratic and laissez-faire leadership. [8]
(a) Analyse the benefits of a labour-intensive production process for a business. [8]
(a) Analyse the benefits to a business of introducing computer-aided design (CAD). [8]
(b) Discuss 12 marks Paper 1
Discuss 20 marks Paper 1
PAPER 2
(a)(i) 2marks Paper 2
Define the term ‘break even’. [2]
Define the term ‘cash flow’.[2]
(a)(ii) 3 marks Paper 2
Explain the term ‘industrial markets’ . [3]
Explain the term ‘brand’ . [3]
(b)(i) 2 marks Paper 2
b (i) Refer to Table 1.1. Calculate the rate of labour turnover for department A in 2020. [3]
(b) (i) Refer to Table 1. Calculate BIG’s working capital. [3]
b (i) Refer to Table 1.1. Calculate the value of X. [3]
(b)(ii) 3 marks Paper 2
b (ii) Explain one suitable way, other than market share, to measure the size of F5G. [3]
b (ii) Explain one disadvantage for RHZ of having high labour turnover. [3]
(b) (ii) Explain one factor influencing the supply of the retro cycle.[3]
(b)(ii)Explain one benefit of Nativity Trees marketing its products to industrial markets [3]
b (ii) Explain one way in which EMB can use the Internet to increase sales. [3]
b (ii) Explain one benefit of NT holding inventory. [3]
(b) (ii) Explain one reason why AA needs accurate cost data. [3]
b (ii) Explain one reason why EMB’s liquidity is forecast to change. [3]
(c) Analysis 8 marks Paper 2
(c) Analyse two qualities that Gordon will need to be a successful entrepreneur. [8]
(c) Analyse two ways in which emotional intelligence may help Isabel be an effective leader. [8]
(c) Analyse two methods HC could use to extend the product life cycle of the Retro Cycle. [8]
(c) Analyse two ways in which AA adds value to its products. [8]
(c) Analyse two factors that may have affected the location of NT. [8]
(d) Evaluation Paper 2
(d) Evaluate the likely impact on the stakeholders of AA of the planned expansion. [11]
d) Recommend changes EMB could make to its marketing mix to achieve its growth objective [11]
PAPER 3
10 marks (q1)
1. Analyse the likely impact on E Ventures’ profit of intervention by governments in the car market [10]
1. Analyse the benefits to FS of continuing with a centralised structure as the business develops. [10]
12 Marks (q2/4)
4. Assess the effectiveness of E Venture’s approach to human resource management (HRM). [12]
16 Marks (q3/5)
3. Evaluate the benefits to FS of using budgets. [16]
20 Marks (q6/7)
7. Evaluate the importance of business planning to E-Ventures’ future profitability. [20]
7. Evaluate the importance of business planning to E-Ventures’ future profitability. [20]