unit 3 building a business

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1. what are extension strategies?

  • strategies when selling
  • these are used to try prevent sales going to decline e.g) developing a wider product range
  • extensions to the building
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2. what is a buffer stock for?

  • a buffer stock is a way of guaranteeing their is always stock in place but not too much of it, new stock will be delivered just as the old stock runs out.
  • storage for the stock
  • hygiene of the store

3. whats a just in time method?

  • completing tasks just in time
  • it prevents stock being run out as stock is arrived just in time as it need it
  • turning up to work just in time

4. what is meant by branding

  • being popular with the customers
  • a product with a unique character that differentiates them for instance in design or image
  • having a big company

5. what is break even?

  • when your money is divided in the business
  • this is when the revenue is equal to the costs
  • the middle of your time owning a business




A handy resource to check progress and make a change during a period of revision. Some of the questions are quite tricky and it will highlight areas that still need to be revised.

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