Other

Question 1

Primary methods of market research (5)

Answer 1

1)questionnaires
2)surveys
3)focus groups
4)Interviews
5)Consumer panels

Question 2

Secondary methods of market research (5)

Answer 2

1)Internet
2)Local newspapers
3)Official publications
4)Industry magazines
5)Government websites

Question 3

Reasons why consumers sometimes need protecting from exploitation (7)

Answer 3

1)Product may not be fit for purpose
2)Products may not meet their description
3)When buying goods online
4)Misleading prices
5)Weights and measured to make sure they aren’t being over charged
6)Some consumers are particularly vulnerable e.g. pensioners
7)Oligopolies and monopolies have market power over consumers and need to be regulated

Question 4

What is the difference between a manager and a leader?

Answer 4

Managers: Control and direct the workforce to follow the principles
or values that have been established by the leaders.

Leaders: May perform similar functions to managers, but in addition they also inspire and motivate the workforce. They consider long-term strategy, the challenges facing the business and how to overcome them.

Question 5

Define autocratic leadership

Answer 5

An autocratic leadership style is one where the manager sets objectives, allocates tasks and insists on obedience.

Question 6

Define bureaucratic leadership

Answer 6

Controls w, tight limits on decision-making and has many guidelines and restrictions. Used when leadership skills cannot be developed in subordinates, subordinates need to be closely controlled, a high labour turnover is not too much of a disadvantage and when it is important to back up every decision with relevant paperwork. Employee participation is not actively encouraged.

Question 7

Define Laissez-faire leadership

Answer 7

A laissez-faire type of leadership occurs when the leader has minimal input, leaving much of the running of the business to the staff, allowing them to carry out activities freely within broad limits.

Question 8

Define democratic leadership and give 5 features/characteristics of this leadership style

Answer 8

Democratic leadership styles encourage participation by employees in the decision making process:
* A democratic leader delegates a great deal, discusses issues, acts upon advice and explains the reasons for decisions.
* Democratic leadership means running a business or a department on the basis of decisions agreed among the majority.
* Can be persuasive - leader makes a decision and then persuades others in the organisation that it is a good idea.
* Can be consultative - leader consults others prior to making a decision and takes account of their views.
* Good communication skills are required to lead democratically

Question 9

Define paternalistic leadership

Answer 9

These leaders are similar to autocratic leaders in that they make all
the decisions and do not involve employees in the process. However, paternalistic leaders may attempt to persuade the employees that the decisions made are in the best interests of all concerned. Paternalistic leaders will consider the views and welfare of the employees.

Question 10

Define external economies of scale

Answer 10

The advantages of scale that benefit a whole industry and not just an
individual business,