F291 business studies 3.0 / 5 based on 1 rating ? Business StudiesASOCR Created by: MollyCreated on: 06-05-13 16:37 Why would someone choose to become a franchise instead of opening their own business? less risk, provided with support, established reputation/customers, national advertising, given uniforms and equipment etc 1 of 12 Name an unfair reasons for dismissal any discrimination, minor discretion with no previous warnings 2 of 12 Give three factors which could influence the future success of a business ethical issues, organisational structure, sources of finance, market research, legal identity, political issues, social change, economy, stakeholders, competition, cash flow, objectives 3 of 12 What does SWOT analysis stand for S- strengths W-weaknesses O-opportunities T-threats 4 of 12 Name three internal sources of finance retained profit, sale of stock, owners investment, debt collection, sale of fixed assets 5 of 12 Name three external sources of finance bank loan, overdraft, partnership, shares, leasing, hire purchase, mortgage, trade credit, grant 6 of 12 Name four economies of scale financial, managerial, purchasing, internal, external, technological, marketing, concentration, information, risk bearing 7 of 12 Give three reasons why diseconomies of scale can occur communication problems, problems with managing the production process, reduction in morale 8 of 12 What are three ways of measuring the size of a business capital, turnover, employees, market share 9 of 12 Three examples of stakeholders competition, employees, shareholders, suppliers, pressure groups, banks, local community, government, customers 10 of 12 Give three benefits of trading ethically good brand image, higher profits, more of a competition, increase market share, trustworthy, increase sales 11 of 12 Give three drawbacks of trading ethically increase costs, may have to increase prices, competition may follow, opportunity cost 12 of 12
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