Read the following extract before answering.
Outline one risk taken by the owners when starting Last Course Patisserie.
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Read the following extract before answering.
Outline one risk taken by the owners when starting Last Course Patisserie.
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Which one of the following is an example of a reward from business activity?
Select one answer.
Financial loss
Increased overheads
Independence
Lack of security
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Which two of the following are types of technology that could be used by a business?
Select two answers.
A. | Consumer law | |
B. | Crowd funding | |
C. | Digital communication | |
D. | Marketing mix | |
E. | Payment systems |
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State one role of an entrepreneur.
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Mel is a sole trader selling candles made from natural ingredients.
Which one of the following is an example of a risk for Mel's business?
Mel has forecast that demand will rise over the next year
Mel has calculated a negative cash flow for June
Mel is anticipating that the cost of wax will fall next year
Mel has estimated that she will need to work an extra 15 hours per week to meet demand for her products
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Outline one way a hairdressing business might add value to its service.
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Outline one reason why a product or service may become obsolete.
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State one way a fast food business can meet customer needs.
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Which one of the following is not a method of adding value?
Product branding
Reducing prices
Differentiating the product
Providing high quality customer service
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State one purpose of business activity.
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Outline one reason why a business may adapt an existing product.
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Which two of the following would be examples of adapting a product for a bakery?
Select two answers.
A. Advertising a product
B. Increasing portion sizes
C. Changing the price of its sandwich range
D. Training staff to serve customers more quickly
E. Changing the recipe of baked goods to cater for gluten-free diets
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Read the following extract before answering.
In order to increase the number of desserts that can be produced to meet the extra demand, Last Course Patisserie is considering two options:
Option 1: investing in new machinery
Option 2: employing more staff.
Justify which one of these two options Last Course Patisserie should choose.
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Read the following extract before answering.
In order to add value to its business activities Sports Tours Ltd is considering two options:
Option 1: using professional sports venues for tournaments
Option 2: providing teams with top class coaching when on tour.
Justify which one of these two options Sports Tours Ltd should choose.
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Read the following extract before answering.
Evaluate the importance of Justin Carr's entrepreneurial roles to the success of That Feeling. You should use the information provided as well as your knowledge of business.
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Explain one benefit to a small business of having a unique selling point.
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Explain one reason why new business ideas come about.
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Discuss the impact on a small business of failing to meet customers' needs.
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Explain one reward of starting up a business.
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Explain one reason why a business may decide to change a brand name.
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Explain one way a change of technology can create a business opportunity.
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Explain one role of an entrepreneur.
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Explain one reason why someone might want to set up their own business.
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Explain one reason why a market may be described as 'dynamic'.
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Discuss the impact of entrepreneurial roles on the success of a start-up business.
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Read the following extract before answering.
Analyse the impact on Sports Tours Ltd of operating in a dynamic market.
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Read the following extract before answering.
Analyse the impact on Last Course Patisserie of adding value to its products.
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