Homework flashcards - year 12
benefit of using focus groups
benefit of primary research - increased sales volume
creating and setting up a business is the most important role of an entrepreneur
expanding a business is the most important role of an entrepreneur
creativity is the most important characteristic
income statement
benefit of primary research - increased customer loyalty
drawback of primary research
benefit of secondary research
drawback of secondary research
benefit of quantitative data
drawback of quantitative data
benefit of qualitative data
drawback of collecting qualitative data
market segmentation benefit
market segmentation drawback - multiple products
market segmentation drawback - not spread risk
benefit of effective r&d
product orientation benefit
product orientation drawback
market orientation benefit
market orientation drawback
benefit of prioritising aesthetics/function on the design mix
drawback of prioritising function on the design mix - investment in marketing
drawback of prioritising function on the design mix - more expensive raw materials
benefit of prioritising economic manufacturing
drawback of prioritising economic manufacturing
benefit of adapting the design mix to reflect social trends
problem with adapting the design mix to reflect social trends
business plan to obtain finance
problem with a business plan
Sales forecasting – benefit
Sales forecasting – Drawback
Cash flow Benefit
Cash flow Drawback
Break-even useful…
Break-even not useful…
Sole Trader Benefit
Sole trader Drawback
Partnership Benefit
Partnership Drawback
Private Limited company Benefit
Private limited company Drawback
Public limited company Benefit
Public Limited company Drawback
Franchisor - benefit
Franchisor - drawback
Franchisee - benefit
Franchisee - drawback
Retained profit - benefit
Retained profit - drawback
owners capital - drawback
owners capital - benefit
sale of asset - benefit
Financial Economies of Scale - Benefit
Income Elasticity - Spread Risk - Benefit
Income Elasticity - Spread Risk - Drawback
Inferior Goods
Luxury Goods
Marketing Economies of Scale - Benefit
Normal Goods
Price Elastic
Purchasing Economies of Scale - Benefit
R&D Price Inelastic
Technical Economies of Scale - Benefit
Benefit of using Intermediaries
Drawback of using Intermediaries
Benefit - Direct Distribution
Drawback - Direct Distribution
Benefit - Specialisation
Drawback - Specialisation
Benefit - Porter Differentiation
Benefit - Porter Cost [small scale]
Benefit - Porter Cost [large scale]
Benefit of a Grant
Benefit of Crowdfunding
Benefit of Leasing
Benefit of a Loan
Benefit of an Overdraft
Benefit of Share Capital
Benefit of Trade Credit
Benefit of Venture Capital
Drawback of Crowdfunding
Drawback of a Grant
Drawback of Leasing
Drawback of a Loan
Drawback of an Overdraft
Drawback of Share Capital
Drawback of Trade Credit
Drawback of Venture Capital
Drawback of Friends and Family
Benefit of Friends and Family
Peer to Peer Benefit
Peer to Peer Drawback
Sale of Asset Drawback
Benefit of high productivity
Problem with trying to increase productivity
benefit of high capacity utilisation for a manufacturer
benefit of high capacity utilisation for a service
drawback of high capacity utilisation in a manufacturer
drawback of high capacity utilisation in a service
benefit of low capacity utilisation - manufacturing
benefit of low capacity utilisation - service
drawback of low capacity utilisation - manufacturing
drawback of low capacity utilisation - service
motivation - Taylor’s theory
motivation - Mayo’s theory
motivation - Maslow’s theory
motivation - Herzberg’s theory
Role culture
