Learning Aim A

Question 1

Private sector

Answer 1

making profit; break even; survival; growth; market leadership

Question 2

Public sector

Answer 2

cost control; value for money; service quality; meeting government standards

Question 3

Voluntary sector

Answer 3

supporting communities

Question 4

Private business

Answer 4

private limited companies (LTD); public limited company (PLC)

Question 5

Public business

Answer 5

Public corporation; Local Authority

Question 6

Local business

Answer 6

aimed in a specific town

Question 7

National business

Answer 7

operates throughout a particular country

Question 8

International business

Answer 8

trades across international borders

Question 9

Multi-national business

Answer 9

has assets or activities in another country

Question 10

Sole trader

Answer 10

the company is owned by an individual; unlimited liability

Question 11

Partnership

Answer 11

two or more people come together to form a business; profits are shared

Question 12

Micro business

Answer 12

Up to 9 people

Question 13

Small business

Answer 13

10 to 49 people

Question 14

Medium business

Answer 14

50 to 249 people

Question 15

Large business

Answer 15

250+ people

Question 16

Stakeholders

Answer 16

an interest in the business, impact business plans and objectives

Question 17

Customer Groups

Answer 17

age, gender, ethnicity, disability, socio economic

Question 18

Additional Facilities

Answer 18

Car parking, changing areas, refreshments, lockers, creche

Question 19

Sport Services

Answer 19

Instruction, therapeutic, customer service

Question 20

Programmes to promote participation

Answer 20

Health and fitness, school, swimming pool, gym, specific groups

Question 21

Multi-use facility

Answer 21

public sector funded, includes leisure centres, football pitches, sports halls

Question 22

Members only clubs

Answer 22

private companies, facilities only for members

Question 23

Shareholders

Answer 23

owns a percentage of the business, has some authority in company decisions

Question 24

SWOT Analysis

Answer 24

Strengths, weaknesses, opportunities, threats

Question 25

PESTLE Analysis

Answer 25

Political, economical, social, technological, legal, environmental

Question 26

Person Specifications

Answer 26

The essential and desirable requirements needed in order to be able to work in the job role

Question 27

Job Description

Answer 27

Gives a clear definition of roles and responsibilities of the job

Question 28

Human Resources

Answer 28

Managing people within a business, timetabling, salaries, conditions of employment

Question 29

Physical Resources

Answer 29

Suppliers and materials, contracting, changes in staffing needs, events and foreseen risks

Question 30

Resource Maintenance

Answer 30

Emergency cover, health and safety, assets, leasing options, maintenance and refurbishments, budgetary restraints.

Question 31

Interest rates

Answer 31

The amount of a loan that is charged to a borrower

Question 32

Foreign Exchange rates

Answer 32

The rate at which one currency is exchanged for another such as British Pound to US Dollars

Question 33

Inflation

Answer 33

The rate at which the cost of goods and services rises.

Question 34

Globalisation

Answer 34

When businesses and organisations develop international operations and influence

Question 35

Types of employment

Answer 35

Part time, full time, seasonal roles, consultant, volunteer, franchises

Question 36

Marketing

Answer 36

Marketing products to reach customer needs and expectations

Question 37

Marketing 7 P's

Answer 37

Product, Price, Promotion, Place, People, Process, Physical Environment

Question 38

Above the line marketing

Answer 38

Advertising to the general public e.g. radio adverts, magazine and newspaper adverts and TV adverts.

Question 39

Below the line marketing

Answer 39

Advertising to a niche audience, personalised adverts e.g. social media adverts, public posters, leaflets, in-store promotions.