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BUSINESS THEORIES (AQA A-LEVEL) EXAM 2024/2025 | ACCURATE AND VERIFIED EXAM QUESTIONS AND ANSWERS FOR GUARANTEED PASS | LATEST UPDATE$17.99
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Herzberg's Hygiene and Motivating Factors - ✔✔ANSW✔✔..Hygiene factors: company
policy, supervision, working conditions, pay, relations with other employees
Gearing (Def. and Formula) - ✔✔ANSW✔✔..Shows what % of finance comes from
long-term liabilities
NCL / Total Equity + NCL (x 100)
Recievables Days - ✔✔ANSW✔✔..Recievables / SR (x 365)
Payables Days - ✔✔ANSW✔✔..Payables / Cost of Sales (x 365)
ROCE (Def. and formula) - ✔✔ANSW✔✔..- Shows how much money is made by a
business compared to how much is put in
- The higher the ROCE, the better
Operating Profit / Total Equity + NCL (x 100)
Inventory Turnover (def. and formula) - ✔✔ANSW✔✔..Compares the cost of all sales to
the cost of the average stock held. Tells you how many times during the year a
business sells all its stock.
Cost of Sales / Cost of Average Stock Held
Retained Profit - ✔✔ANSW✔✔..Profit after dividends
Profit after tax - dividends
Break-Even Output - ✔✔ANSW✔✔..Fixed Costs / Contribution per Unit
Contribution per Unit - ✔✔ANSW✔✔..Selling price per unit - variable cost per unit
, Total Contribution - ✔✔ANSW✔✔..Total revenue - total variable costs OR Contribution
per unit x number of units sold
Barriers to entry (Porter's Five Forces) - ✔✔ANSW✔✔..How easy it is to enter the
market
-Patents and trademarks
- Control of distribution (forward vertical integration)
- Price war
Buyer Power (Porter's Five Forces) - ✔✔ANSW✔✔..When there are many sellers and
few buyers.
- Buy supplier out (backward vertical integration)
- Form a buying group with other businesses
Supplier Power (Porter's Five Forces) - ✔✔ANSW✔✔..When there are few suppliers
and many buyers.
- Tie buyers into long-term contracts
- Forward vertical integration
- Develop new products and protect them with patents
Threat of substitutes (Porter's Five Forces) - ✔✔ANSW✔✔..How likely consumers are
to buy an alternative
- Make it expensive or difficult to switch
- Differentiate to create brand loyalty
- target market whose needs aren't being met
Rivalry (Porter's Five Forces) - ✔✔ANSW✔✔..High competition
- Make it easy to switch
- Bigger promotional budget
Motivating factors: Personal achievement, recognition, interesting work, personal
development
Hackham and Oldham - ✔✔ANSW✔✔..Believed that jobs needed to be designed to
focus around people to make them motivated.
Taylor's Scientific Management - ✔✔ANSW✔✔..Created in 20th century. Believed
workers were motivated by money.
Favoured division of labour and piece-rate pay (paid for level of productivity)
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