Paper 1 Specimen 2023 Solutions

Table Of Contents

Section A ✍🏽1 (a) Define the term ‘secondary research’. [2](b) Explain one advantage to a business of data collected using primary research methods. [3]2 (a) Define the term ‘sustainability’. [2](b) Explain one reason why a manufacturing business might take measures to improve the sustainability of its operations. [3]3 (a) Define the term ‘zero budgeting’. [2](b) Explain one benefit to a business of using budgets. [3]4 Analyse one way in which ethics may influence the activities of a business. [5]Section B ✍🏽  5 (a) Analyse two reasons why it is important for a business to set SMART objectives. [8](b) Evaluate the view that a mission statement is only important to a bank if it significantly influences the strategy and tactics of that business. [12]6 (a) Analyse two possible disadvantages to a business of using performance-related pay to motivate its employees. [8](b) ‘The most important role of human resource ...

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