Mocks 3

Question 1

Marketing research

Answer 1

primary research, questionnaires, interviews, surveys and focus groups. where business gathers data tailored to them.
secondary research, financial accounts, government publications, company sales report, marketing agency reports. analysing data already available.
random sample
stratified sample, pop divided into groups then ppl randomly picked from group
quota sample, ppl picked who fit into category

Question 2

effective supply chain management

Answer 2

a supply chain is group of firms all involved in various processes required to make finished product or service available to customer. e.g raw material to finished product.
well managed supply chain means operational performance will improve so productivity will increase, which leads to costs fall and profits increase.

Question 3

gearing & current ratios

Answer 3

gearing shows what proportion of finance business has comes from long term borrowing (non current liabilities) rather than equity (share capital or retained profit).
gearing (%)= ncl / total equity + ncl x100, gearing above 50% shows it comes from long term debt, 25-50 standard. below 25 low geared.
rewards- extra funds for expansion by borrowing, attractive in growth phase, less risky when IR low.
risks- may not be able to afford repayments, loans are risky.

current ratio is liquidity ratio shows how solvent business is (how able it is to pay its debts)
current ratio = current assets / current liabilities, 1.5 or 2 is ideal, below 1.5 suggests liquidity problem might struggle to meet current liabilities.

Question 4

employee engagement

Question 5

Csr objectives

Answer 5

corporate social responsibility is idea that company should go above and beyond what is required by law to help society, it’s workforce and the environment.
advantages of csr
brand loyalty, ppl choose to work for brands with good csr reports, increase employee morale.
disadvantages of csr
costs shareholders may see as misuse thus withdraw investments, customers have to pay more for socially responsible products, puts certain small businesses at disadvantage.

carollls pyramid of csr
philanthropic responsibility- be good corporate citizen
ethical responsibility- do right thing avoid harm
legal responsibilities- obey laws and regulations
economic responsibility- be profitable so business survives, the foundation.

Question 6

external vs internal environment

Question 7

pestlem+C