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Business

GCSE · OCR

QuestionsFlashcards

1.1 Business Enterprise & Entrepreneurship
- The Purpose of Business Activity
  8
- The Nature of Enterprise
  11
1.2 Business Planning
- Why Write a Business Plan?
  4
- The Business Plan
  10
1.3 Business Ownership
1.4 Business Aims & Objectives
- Aims & Objectives
  8
- Changing & Differing Objectives
  6
1.5 Stakeholders in Business
- Stakeholders
  9
- Stakeholder Considerations
  12
1.6 Business Growth
- Organic Growth
  6
- External Growth
  12

3.1 The Role of Human Resources
3.2a Organisational Structures
- Different Organisational Structures
  10
- Organisation Charts
  8
3.2b Different Ways of Working
3.3 Communication in Business
3.4 Recruitment & Selection
3.5 Motivation & Retention
3.6 Training & Development
- Training & Development Methods
  15
- The Importance of Training & Development
  13
3.7 Employment Law

4.1 Production Processes
- Methods of Production
  15
- Technology in Production
  10
4.2 Quality of Goods & Services
- Quality
  9
- Methods of Ensuring Quality
  10
4.3 The Sales Process & Customer Service
- The Sales Process
  16
- Customer Service
  11
4.4 Consumer Law
4.5 Business Location
4.6 Working with Suppliers
- Procurement
  9
- Logistics & Supply Decisions
  9

5.1 The Role of Finance
5.2 Sources of Finance
- Financing Business Activity
  14
- Choosing Appropriate Sources of Finance
  24
5.3 Revenue, Costs, Profit & Loss
5.4 Break-Even
- The Importance of Break-Even
  7
- Using Break-Even
  2
5.5 Cash & Cash Flow
- The Importance of Cash
  10
- Cash Flow Forecasting
  15

6.1 Ethical & Environmental Considerations
- Ethical Considerations
  16
- Environmental Considerations
  15
6.2 The Economic Climate
6.3 Globalisation

Using Market Research Data Flashcards

All 6 cards in this deck

What is the difference between qualitative and quantitative data?: Qualitative data is non-numeric, based on opinions and views; quantitative data is numerical and can be measured and counted.
Give one disadvantage to a small business of using qualitative data.: Any one of: responses are opinions and vary a lot, making it hard to judge customer preferences; it is mostly non-numeric so it is difficult to analyse and make decisions from.
Why is it useful to combine quantitative and qualitative market research data?: The numbers show what is happening, for example a fall in sales, while the opinions explain why it is happening.
Why is the reliability of market research data important?: Unreliable data leads to poor business decisions — e.g. out-of-date websites give a false picture of the competition.
Give one cause of bias in market research data.: Any one of: leading questions that push people towards an answer; a sample that does not represent the target market; respondents saying what they think the business wants to hear.
Which primary research methods usually collect qualitative data?: Interviews and focus groups, because they ask people for their opinions and reasons.