Exam (elaborations)
AQA A LEVEL BUSINESS MODELS AND FORMULAS JUNE 2023 PAPER FINAL MARKING SCHEME
- Module
- Biology aqa a level
- Institution
- Biology Aqa A Level
AQA A LEVEL BUSINESS MODELS AND FORMULAS JUNE 2023 PAPER FINAL MARKING SCHEME
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AQA A LEVEL BUSINESS MODELS ANDFORMULAS JUNE 2023 PAPER FINAL
MARKING SCHEME
Tannenbaum and Schmidt Continuum of Leadership - ✔✔ANSWER✔✔Illustrates a range of potential
leadership and management styles, including tell and sell for autocratic leadership styles, and join for
democratic leadership styles
Experience Curve - ✔✔ANSWER✔✔The drop in the average per-unit production cost that comes
with accumulated production experience
Cost of Goods Sold Formula - ✔✔ANSWER✔✔starting inventory + purchases − ending inventory
Average Rate of Return (ARR) - ✔✔ANSWER✔✔the average annual return (profit) of an investment
Average Rate of Return Formula - ✔✔ANSWER✔✔average annual profit / cost of investment x 100
Payback Period - ✔✔ANSWER✔✔the amount of time required for an investment to generate cash
flows sufficient to recover its initial cost
Ansoff's Matrix - ✔✔ANSWER✔✔A strategic model for helping a business analyse the relationship
between general strategic direction and suitable marketing strategies
Ansoff's Matrix : Market Penetration - ✔✔ANSWER✔✔Existing products, existing markets : strategy
focused on increasing existing market share
, Ansoff's Matrix : Market Development - ✔✔ANSWER✔✔Existing products, new markets : allows
firms to enter new geographical markets
Ansoff's Matrix : Product Development - ✔✔ANSWER✔✔New products, existing markets : diversifies
product portfolio
Ansoff's Matrix : Diversification - ✔✔ANSWER✔✔New product, new market : highest risk but can be
highly rewarding
Kaplan and Norton's Balanced Scorecard - ✔✔ANSWER✔✔A model which measures business
performance using both financial and non-financial data
Kaplan and Norton's Balanced Scorecard : Financial Perspective - ✔✔ANSWER✔✔Measures how the
business is performing financially, measured by ROI and operating profit margins
Kaplan and Norton's Balanced Scorecard : Customer Perspective - ✔✔ANSWER✔✔Measures
customer satisfaction levels, measured by level of returns and service rating
Kaplan and Norton's Balanced Scorecard : Internal Process Perspective - ✔✔ANSWER✔✔Measures
the efficiency of production, measured by unit cost
Kaplan and Norton's Balanced Scorecard : Organisational Capacity Perspective -
✔✔ANSWER✔✔Measures the firm knowledge and innovation, measured by employee retention and
the flow of new product ideas
Bartlett and Ghosal's International Business Strategies - ✔✔ANSWER✔✔Indicates the strategic
options for firms wanting to manage their international operations based on two pressures : local
responsiveness (adapt to local tastes) and global integration (lower costs)
Bartlett and Ghosal's International Business Strategies : International Strategy - ✔✔ANSWER✔✔Low
global integration and low local responsiveness : business operating abroad but run very much from
the home country
Bartlett and Ghosal's International Business Strategies : Global Strategy - ✔✔ANSWER✔✔High global
integration but low local responsiveness : standardised products which are sold worldwide
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