advantages and disadvantages Flashcards
advantages to advertising on a website
- new products and discounts can be communicated easily to customers
- online chat to support customers
- feedback
-quick and easy updates
Disadvantages of advertising on a website
- costs involved in maintaining websites
- have to be updated regularly
-team has to be paid to reply. yo customers making contact - customers may leave negative product reviews
competitor prices advantages?
- encourage customers buy products which helps the businesses to maintain/ market share
disadvantage of a wide span f control
- less time wit each subordinate
- manager may lose control
- strained friendships
disadvantages of a narrow span of control
subordinates may feel too lonely monitored and may find that the lack of freedom to make their own decisions is demotivating
advantages of email & texts
-instant, quick
-do it from anywhere
- cheaper
disadvantages of emails & texts
- can be overwhelming
-can be disruptive - other person may not read
advantages of a wide span of control
manager has more subordinates to delegate work to, this reduces workload of manager and subordinates may enjoy how it makes the job more varied
advantages of a narrow span of control
manager has less subordinates to line manager, so will have more time to spend giving clear instructions and supporting subordinates
advantages of using letters to advertise
formal and efficient
disadvantages of using letters to advertise
time consuming and costly
advantages of 0 hour contracts for employees
- flexible
- appealing to those who may need to turn down work e.g students
advantages of 0 hour contracts for employees
employees will not have job security or a regular level of income which can cause stress
advantages of 0 hour contracts for a business
give flexibility to meet increases in demand without having to pay employees when they aren’t needed
disadvantages of 0 hour contracts for a business
employee can turn down shifts which can lead to business not having enough staff to meet customer demand
advantages of working home
- work longer because no travelling
- workers more productive because of freedom
- workers may work better with less distraction
disadvantages of working home
- workers not able too exchange ideas with other workers
- workers produce less due to not being directed
- costly because of technology
risks of an entrepreneur
health
financial
relationships/friendships
rewards of an entrepreneur
financial
self - satisfaction
independence
problems with a business plan
- may not go according to plan
- constant changing
- time and efforts
- not be accurate - poor quality
advantages to a business plan
- review ideas
- review progress
- reduce risks
- help secure finance
- reduces risk of failure
disadvantages of growth
- slower decision making
- communication more difficult
- employees may become demotivated
- increased capital costs
advantages of external growth
- cost savings
- gain new customers/ sales
- eliminate competition
- more ideas through combining teams
- spread the risk/ reduce reliance on existing business/ market
- quicker than organic growth
advantages of being a sole trader
- you are your own boss
- profit all yours
- open whenever
- info doesn’t meed to be documented online so competitors can’t compete
advantages of working as a partnership
- easy to set up = only needs a deed of partnership ( a written agreement between partner)
- variety of skills
-usually make decisions between themselves
-no info bout profits will be published - workload shared
disadvantages off working as a partnership
- disagreements which lead to issues in decision making
- profits will be shared
- cannot sell shares to raise finance
- unlimited liability
-greater workload for each with fewer partners
advantages to a private limited company [ltd]?
- shares holders can restrict who can guys shares
- continuity = business continues even if shareholder sell their shares or die
- new shareholders can invest and banks are willing to lend money and in larger amounts compared to sole traders and partnership
- limited liability
disadvantages for private limited company?
- shareholders have to agree about how dividend are distributed
- public can see info about the business
advantages to having a public limited company (plc)
- business continues even if shareholders sell their shares or die
-limited liability
-can raise large amounts via stock exchange
-borrowing money banks will be easier as they are more willing to lend and get more compared to sole traders and partnerships
disadvantages of a public limited company
(plc)?
- risk of being take-over higher
- public can see info
greater costs to set up and operate than a ltd as a plc must have 50,000 of shares as a minimum
advantages of primary research?
- new data/info
- its exactly what the business wants
advantages of secondary research?
-quicker and cheaper
- wide range of data is already available
disadvantages of primary research?
- could be expensive to complete
- difficult to get customers to provide answers
disadvantages of secondary research?
- a risk that it could be out of date data
-may not be exactly what the business wants
promotional pricing advantages?
- attracts customers into stores
- break loyalties with other brands
- encourage customers to buy more
promotional pricing disadvantages?
- customers may get used to promotions and to buy at full price anymore
- can lead to stock not being available for customers who usually pay full price
price skimming advantages?
- help build a reputation for high quality products
-potential for high sales revenue
price skimming disadvantages?
may lead to low sales volume
penetration pricing advantages?
- can be a professional tool when a business/ product first launches
- can help to break customers loyalties with other brands
penetration pricing disadvantages?
- likely to result in retaliation from established companies
-creates expectation from customers
advantages of competition prices?
encourge customers to buy products which helps the businesses to maintain/market share
disadvantages of competitor prices?
may negate other factors such as services and quality as thy cut costs in order to be able to sell products t a price similar to competitors
Full time advantages & disadvantage business
- The worker is permanently available
Disadvantage
- may have to oay when no work is needed
Part time working advantages and disadvantages business
Worker can be asked to work specific times needed by business
Business may have to train many more workers than if employees full time
Flexible working advantages and disadvantages business
May benefit from motivated workers who like flexibility of when they work
Worker may not be available to work when needed by business
Temporary working adv and disad business
Only needs to employ workers for the length of time they need them for example at harvesting time
The business may find it difficult to recruit enough workers at times when they are needed
Working while mobile adv and Disadv business
The business benefits from increased productivity
The business may not be able to monitor that the worker is working as much as they should
Full times adv and disadvantages worker
Worker paid for full week
Tied to working full week through out year except holidays
Part time adv and disad worker
Work when suits them
Only get paid hours they work which means less money that they need or want so they might need to take a second job
Felx working adv and disad works
Work all times that suit them
May not be offered as much as they want
Temp adv and dis worker
Can work and earn and for a period and then have time to do other things they wish
May find times in year where there is no work for them
Work mobile adv and disad workers
Workers make full use of time even when travelling
Worker may feel under pressure to work a lot even while on holiday
Phone communication in a business context, advantages and disadvantages
Good for discussion of ideas or problem and making agreements
it is immediate providing the communication is available to speak 
Disadvantaged
No record of the discussion unless it’s recorded
can be difficult with long waiting times to get through a call centre 
 Meetings in a business context, advantages and disadvantages 
Advantages
it is a good way to exchange ideas and to check understanding
minutes ( a written summary ) provide a record of the meeting 
Disadvantages
can be expensive to get people together.
It is a formal meeting. It can take time to arrange. 
Presentations in a business contact advantages and disadvantages 
The speaker has time to prepare in advance what they wish to say and then to explain clearly
it is often possible to ask questions to help understanding 
Disad
There may be a lot of listeners and it may be difficult to check they will understand
presentations can take time to arrange and can be expensive 
Letters in a business context, advantages and disadvantages 
Provide a record of the communication
the sender can take time to make sure the ideas are clearly expressed while the reader can read the message more than once
Dis
It takes time for the letters to send in the post to be delivered
if the meaning of the messages unclear is difficult to the receiver to check 
Email in a business context, advantages and disadvantages
 a very fast way of communicating
good for short messages although attachments are way of adding more information
D
A person may not check their emails regularly.
Bulk emails are often ignored and deleted or lost in spam.
Text in business contacts, advantages and disadvantages 
A very fast method of communicating that include a lot of people
the receiver can save the text to remember details in the message 
D
Often limited information can be given
not good for discussing ideas 
Social media in a business context, advantages and disadvantage
 The message can be sent to selected groups or inbox to large number cheaply
Sometimes pictures can be added to the message
D
 somebody in the business needs to manage the communications.
It is not always easy to judge how successful the message has been 
Website for business context, advantages and disadvantages 
It saves money because the information does not need to be printed and posted
customers can order online so the business may not need to have a shop or office accessible customers
D
Customers cannot ask for information easily
customers cannot be the goods 
Advantages of internal recruitment
It is cheaper to advise internally
often quicker than external recruitment.
The worker will already be known to the managers so they’ll be confident about where they work. The worker knows the business so there is no problem settling in
it can motivate workers if they see collies being promoted. 
Advantages of external recruitment
It can fill a skills that whether there is no one already employed who can do the job
people from outside can bring new ideas
avoid workers becoming unhappy if they’re not selected with a colleagues
it is necessary when the business is growing and additional workers unneeded
it saves having to recruit someone to place a worker promoted internally 
Advantages and disadvantages of praising for motivation 
It does not cost the business anything and it helps to create a positive climate
sometimes if there’s no financial award for good work over a long period workers may feel that they are not truly valued 
Advantages this is advantages to using an awards game to motivate workers 
Cost of these reward varies but not all are expensive to give
there is some cost of them they need to be given fairly or workers do not receive an award and may be demoralised 
Advantages and disadvantages using working environment as a method of motivation
If work is your values, they will respect the business and their colleagues creating a positive workspace 
There is a cost to some of this 
Why is employee motivation important? 
High work productivity
reduce levels of work as supervision
lower work absenteeism
Improved quality
Why is employee retention important? 
Hi employee retention is it worth the day with the business for a long period of time? Whereas a low employee retention rate means that the workers do not stay long and there is a high labour turnover
The business will need to recruit workers less often saving time and costs training
cost will be lower when the firm does not want to recruit new workers.
It will be easier for them to do so because it will have a good reputation for retreating its work as well, 
Advantages of off the job training
Enjoy the change in environment
opportunity to learn from expert
you feel valued when the business pays for them to be trained
improve motivation 
Disadvantages to off the job training 
Expensive and it’s additional costs
work time lost meaning the employee not proceeding goods or services
employee now have new skills/qualifications and may leave for a better job 
Advantages too on the job training
Trainee is given individual training which improves performance
is cheaper than off the job training
trained how the job wants it done 
Disadvantages two on the job training 
Trainer may not complete own work
not suitable for groups of trainees more effective one-to-one
quality of work may not be good
Trainer may teach badly or teach bad habits 
Disadvantage to being a sole trader
Unlimited liability
shortage of capital
shortage of skills
may work long hours
illness
continuity if owner dies business could cease to exist and if wanted to see
There isn’t a guaranteed buyer
Advantages of cost plus pricing 
Easy to calculate
ensures profit 
Disadvantages of cost plus pricing 
Doesn’t take into account other factors,
not encourage lower prices 
Characteristics of an entrepreneur
Showing initiative undertake new adventures risk taking 
Factors affecting choice of training 
Type of job
firms budget
time available
business resources to deliver in house 
Benefits to training 
High-quality work
increase motivation
better levels of customer service
increase productivity
less supervision required easier to recruit retain employees staff retention
better able to adapt to changes in technology 
Financial methods of motivation 
Profit sharing
bonus
fringe benefits 
Wage
Benefits to a recruitment agency 
Says business time
agents are specialised so would have qualified candidates being employed
Order of recruitment and selection 
Identify vacancy
Write job description
Write person specification
advertise job
send applicant forms
receive applicants
shortlist candidates
interview
select best candidate 
Recruitment section of the recruitment and selection journey 
Identify vacancy
Write job description
Write person specification
Advertise job
Selection part of recruitment and selection journey 
Send application forms
Receive applications
Shortlist candidates
Interview
Select best candidate
What is a person specification?
A document that list of qualification skills and experience that a worker needs to be able to carry out the particular job for example having good communication skills and an English language GCSE 
