Business Question Key Words

Question 1

3 things to analyse

Analysis

Answer 1

1. Effect - telling an effect of something on someone
2. Consequence - impacts of a particular action
3. Reaction - reaction of someone to the business activity

Example:
Explaining the concept of piece rate

WRONG - piece rate is when workers given payment based on the quantity they have produced and explaining it further and giving examples is NOT an analysis

CORRECT - Trying to link how pice rate is going have effect on motivation or impacts on cost of production or the possible reactions of workers

Steps to approach analysis:
1) Identify type of analysis (effect, consequence, or reaction)
2) Focus of analysis (does the question focus on workers, business, consumers, local communities)
3) Forming chain of analysis
Example: A business has introduced new training programm for its staff. Develop a chain of analysis of how this may affect the business(main focus of the question).

Stage 1: If training programs introduced >
Stage 2: Likely to help employees gain new skills and knowledge at work >
Stage 3: As a result, employees become more productive and effective >
Stage 4: Which leads to improved profits for the business.

Question 2

Evaluation