A useful and simple presentation on critical path analysis.
Sunday 22 December 2013
Friday 11 October 2013
Foxconn at it again
Check out the article: Foxconn admits labour violation
This again begs the question: Are MNC's a force for good or evil in the world? You tell me...
Saturday 5 October 2013
Google Ethics Case Study
Hi Guys
Click Here to read the NY times article about Googles withdrawal from China in 2010. Then answer the following question in the comments below.
Examine the case for and against regarding Google’s withdrawal from
mainland China as an ethical decision
(10)
Sunday 22 September 2013
Tesco facing problems in China
Tesco is bringing its nine-year solo venture in China to an end at a cost of up to £1.5bn making it the grocer's latest aggressive international expansion to unravel.
The world's third largest supermarket is in negotiations with China's biggest retailer, state owned China Resources Enterprise, to create a joint venture where Tesco's 131 stores in the country would merge with CRE's 2,986 sites under the Vanguard brand.
Tesco is expected to pay millions in fees for the deal, which will leave it with a 20% stake, however, it means the Tesco name is likely to disappear from the country all together following integration.
Both sides are understood to have been in talks since before Tesco's full year results in April where chief executive Philip Clarke said the company would take a "more cautious" approach towards China.
Three years ago, in his previous role as head of international, Clarke had unveiled plans to open 80 vast shopping malls, all including a Tesco hypermarket, across China that would have made its retail portfolio bigger than the UK.However, following the disastrous withdrawal from its ill-fated US Fresh & Easy venture which cost £1.8bn, Clarke has refocused his attentions on the UK and reining back excessive spending on expansions.
It is not known how much Tesco has spent on its Chinese venture so far, however, former chief executive Sir Terry Leahy revealed in 2010 that the company planned to spend £2bn in the country by the end of 2015.
In its most recent quarterly trading update the company revealed that like for like sales in China had fallen 4.9% and that sales fell in every international location except Malaysia and Hungary.
The memorandum of understanding with CRE is unlikely to see any deal completed until next year, but if successful it would create a business with annual sales of £10bn.
Analysts generally welcomed the move, saying Tesco was unlikely to become a serious national contender without investing billions of pounds more into the country.
Mike Tattersall, retail analyst at UBS, said: "It's a pretty sensible transaction all round. Tesco has a sub-scale business in China. To achieve scale and profitability they would need to spend a lot of money, billions more.
"That does not fit with the current strategy of the group which is all about cash generation and fiscal responsibility."In the development of a market like China consolidation is a natural progression. It's not the embarrassing retreat that happened in the US. They got the business where they wanted it to be without spending lots of money."
The entrenchment is the latest by Tesco this year, after it pulled out of the US and Japan, although it has had some success in the far east, with South Korea and Thailand both performing well.
The plans for a US sale continues, but so far no buyer has emerged and there are now suggestions that the only viable option may be to shut down the operation.
According to Tesco's website, China still remains "strategically important". The grocer opened 12 new hypermarkets last year, and is due to launch an online groceries business in Shanghai later this year.However, Tesco has struggled to win over Chinese customers. Last year sales dropped 1%.
Other British retailers have also struggled in China in recent years. B&Q attempted a solo expansion into China in 1999 which was initially successful, but eventually led to the company cutting half its number of stores after years of losses.
Marks & Spencer, which has stores in Shanghai, had a disastrous initial launch after the company shunned local knowledge and hoped to copy the same model as its Hong Kong stores. The business is now improving.
Tattersall explained the difficulties with expanding into China: He said: "The problem with China is how attractive it is. It's so big and it's long term pot is so large that all the international retailers are looking at the same metrics. All the lights go green and they all pile in at the same time. Everyone is throwing capital at it so you have more and more competitors at the same time. Like-for-like growth is very difficult to come by and gross margins are tough.
"Inflation is high so from a food retailer's perspective, you have to pay a lot in wages, which is going up at double digit rates too."
The world's third largest supermarket is in negotiations with China's biggest retailer, state owned China Resources Enterprise, to create a joint venture where Tesco's 131 stores in the country would merge with CRE's 2,986 sites under the Vanguard brand.
Tesco is expected to pay millions in fees for the deal, which will leave it with a 20% stake, however, it means the Tesco name is likely to disappear from the country all together following integration.
Both sides are understood to have been in talks since before Tesco's full year results in April where chief executive Philip Clarke said the company would take a "more cautious" approach towards China.
Three years ago, in his previous role as head of international, Clarke had unveiled plans to open 80 vast shopping malls, all including a Tesco hypermarket, across China that would have made its retail portfolio bigger than the UK.However, following the disastrous withdrawal from its ill-fated US Fresh & Easy venture which cost £1.8bn, Clarke has refocused his attentions on the UK and reining back excessive spending on expansions.
It is not known how much Tesco has spent on its Chinese venture so far, however, former chief executive Sir Terry Leahy revealed in 2010 that the company planned to spend £2bn in the country by the end of 2015.
In its most recent quarterly trading update the company revealed that like for like sales in China had fallen 4.9% and that sales fell in every international location except Malaysia and Hungary.
The memorandum of understanding with CRE is unlikely to see any deal completed until next year, but if successful it would create a business with annual sales of £10bn.
Analysts generally welcomed the move, saying Tesco was unlikely to become a serious national contender without investing billions of pounds more into the country.
Mike Tattersall, retail analyst at UBS, said: "It's a pretty sensible transaction all round. Tesco has a sub-scale business in China. To achieve scale and profitability they would need to spend a lot of money, billions more.
"That does not fit with the current strategy of the group which is all about cash generation and fiscal responsibility."In the development of a market like China consolidation is a natural progression. It's not the embarrassing retreat that happened in the US. They got the business where they wanted it to be without spending lots of money."
The entrenchment is the latest by Tesco this year, after it pulled out of the US and Japan, although it has had some success in the far east, with South Korea and Thailand both performing well.
The plans for a US sale continues, but so far no buyer has emerged and there are now suggestions that the only viable option may be to shut down the operation.
According to Tesco's website, China still remains "strategically important". The grocer opened 12 new hypermarkets last year, and is due to launch an online groceries business in Shanghai later this year.However, Tesco has struggled to win over Chinese customers. Last year sales dropped 1%.
Other British retailers have also struggled in China in recent years. B&Q attempted a solo expansion into China in 1999 which was initially successful, but eventually led to the company cutting half its number of stores after years of losses.
Marks & Spencer, which has stores in Shanghai, had a disastrous initial launch after the company shunned local knowledge and hoped to copy the same model as its Hong Kong stores. The business is now improving.
Tattersall explained the difficulties with expanding into China: He said: "The problem with China is how attractive it is. It's so big and it's long term pot is so large that all the international retailers are looking at the same metrics. All the lights go green and they all pile in at the same time. Everyone is throwing capital at it so you have more and more competitors at the same time. Like-for-like growth is very difficult to come by and gross margins are tough.
"Inflation is high so from a food retailer's perspective, you have to pay a lot in wages, which is going up at double digit rates too."
Saturday 21 September 2013
‘Further expansion of the EU represents a great opportunity for large UK companies wishing to become global players’ discuss.
The European Union is a trading bloc in which attempts to foster economic unification between its members. The EU allows for any member countries and their citizens to move freely amongst the member states, work in any country within the EU and claim welfare from within these countries. Businesses have the benefit of being able to trade with countries within the EU that uses the same currency, therefore reducing the transaction fees of exchanging currencies. Although the UK uses the British Pound, exchanging the Pound to the Euro is still beneficial as all remaining countries in the EU are able to trade using the same currency. Also, there are no exchange rate fluctuations within the EU as the EU sets a standardised rate for all member countries. This means that UK businesses will not suffer from fluctuations in demands and problems accessing loans and credit due to an uncertainty of exchange rates. Free trade also allows for increased competition within the EU allowing businesses to make use of Brand Loyalty and repeat purchases from customers who value the businesses product. However, increased competition for example from Italian firms against UK firms, may cause a decrease in demand and sales as consumers now have more choice within the EU which may lead to price wars. Price wars will cause firms to compete for consumers by lowering their prices to beat other firms in the industry. UK businesses may then experience a decrease in revenue and therefore profit. If the EU expands, there will be more competition and a less concentrated market for industries which can be negative towards UK business sales. Also, as the EU has high regulations and powerful unions, employing staff for UK businesses may be difficult and could increase wage costs as UK businesses are forced to comply with EU enforced minimum wages and working condition standards. While the EU does have benefits for the UK businesses, the EU costs the UK more than what it gets in return and UK businesses may suffer with the dramatic increase of competition.
Thursday 19 September 2013
Saturday 14 September 2013
Emerging Markets Driving Demand for Luxury Goods
Awesome article on our current International trade and Emerging Markets topics.
The power shift in economic power can be linked to the fact that the demand for these goods is being taken up by consumers who are not from the U.S, Europe and Japan. The fact that these consumers are much younger than their "western" counterparts also sends a message for the future. These wealthy consumers have a lot of productivity left in their life spans. Can the old economic powerhouses keep up?
http://www.usnews.com/sponsored/features/the-changing-face-of-luxury
The power shift in economic power can be linked to the fact that the demand for these goods is being taken up by consumers who are not from the U.S, Europe and Japan. The fact that these consumers are much younger than their "western" counterparts also sends a message for the future. These wealthy consumers have a lot of productivity left in their life spans. Can the old economic powerhouses keep up?
http://www.usnews.com/sponsored/features/the-changing-face-of-luxury
Sunday 2 June 2013
Mr Oates Today
Hi Guys
Anyone looking for me come and find me in room 207 as I have been turfed out by exams.
Cheers
Anyone looking for me come and find me in room 207 as I have been turfed out by exams.
Cheers
Mr Oates Today
Hi Guys
Anyone looking for me come and find me in room 207 as I have been turfed out by exams.
Cheers
Anyone looking for me come and find me in room 207 as I have been turfed out by exams.
Cheers
Saturday 1 June 2013
Medis & Mariah Summit 1
Set of questions by the grusome twosome!
Price Taking (Stolen from tutor 2 u as I am lazy)
Competitor-based pricing
The main problem is that the business needs some other way to attract customers. It has to use non-price methods to compete – e.g. providing distinct customer service or better availability.
Above the line and below the line
Above the line promotion
Price Taking (Stolen from tutor 2 u as I am lazy)
Competitor-based pricing
If there is strong competition in a market, customers are faced with a wide choice of who to buy from. They may buy from the cheapest provider or perhaps from the one which offers the best customer service. But customers will certainly be mindful of what is a reasonable or normal price in the market.
Most firms in a competitive market do not have sufficient power to be able to set prices above their competitors. They tend to use “going-rate” pricing – i.e. setting a price that is in line with the prices charged by direct competitors. In effect such businesses are “price-takers” – they must accept the going market price as determined by the forces of demand and supply.
An advantage of using competitive pricing is that selling prices should be line with rivals, so price should not be a competitive disadvantage.
Above the line and below the line
Above the line promotion
This is paid for communication in the independent media e.g. advertising on TV or in the newspapers. Though it can be targeted, it can also be seen by anyone outside the target audience.
The main aims of above-the-line promotion are to inform customers, raise awareness and build brand positioning. Above-the-line tends to have a higher cost since the promotional methods used are less precise.
Below the line promotion
This concerns promotional activities where the business has direct control over the target or intended audience. There are many methods of below-the-line, including sales promotions, direct marketing, personal selling and sponsorship.
Sponsorship is controlled because you can decide who is being sponsored and what event.
Product Design Mix
The design mix is defined as: Where an organisation considers the three main aspects of a potential product weighing up the different features and how they will best fit the target market.
Working Capital and so forth
Hi Guys
Few questions coming my way on this.
Working Capital = Current Assets - Current liabilities
A current asset is something that can be sold or used up within one year. A current liability is something a business must pay back within one year.
Essentially working capital is looking at the liquidity of an organisation. The more liquid a business the easier it is for them to turn its assets into cash and pay off short term debts. Any business which cannot pay off short term debts is at risk of becoming Insolvent. It does not matter whether a business is due to make a million pounds of profit next month if they cannot pay off short term debts they will cease trading before they get that profit.
Businesses with liquidity issues need to consider financial contingency planning. In other words is customers don't pay debts or supplier miss delivery deadlines leading to losses of revenue what do we do? Negotiating overdraft facilities can be a good technique for some situations where the requirement is relatively small but consider the implications of a 50,000 pound tax bill when you have just lost a major bit of revenue for that month. You will now get that revenue in the following month but that is no help to you.
In this situation it can be prudent to organise a short term loan with a bank in order to cover the current liabilities. Banks will need to see your cash-flow and business plans etc. in order to grant this to you. Remember this is another argument for having a great relationship with your bank and businesses would need to be well established and have a great trading history and credit rating to be able to get this. A business without this may struggle and therefore fall into insolvency.
Cash flow planning and managing supplier and customer credit terms/payments is therefore very important. Can you put off a supplier payment for a month? Are they willing to extend your trade credit? Do this too often and the relationship sours.
Also consider stock control/management and having the required stock which is being turned into cash relatively quickly. If you don't turn stock into cash quickly you will be left with depreciating current assets and potential spoilage costs. All in all not a good situation to be in!
Few questions coming my way on this.
Working Capital = Current Assets - Current liabilities
A current asset is something that can be sold or used up within one year. A current liability is something a business must pay back within one year.
Essentially working capital is looking at the liquidity of an organisation. The more liquid a business the easier it is for them to turn its assets into cash and pay off short term debts. Any business which cannot pay off short term debts is at risk of becoming Insolvent. It does not matter whether a business is due to make a million pounds of profit next month if they cannot pay off short term debts they will cease trading before they get that profit.
Businesses with liquidity issues need to consider financial contingency planning. In other words is customers don't pay debts or supplier miss delivery deadlines leading to losses of revenue what do we do? Negotiating overdraft facilities can be a good technique for some situations where the requirement is relatively small but consider the implications of a 50,000 pound tax bill when you have just lost a major bit of revenue for that month. You will now get that revenue in the following month but that is no help to you.
In this situation it can be prudent to organise a short term loan with a bank in order to cover the current liabilities. Banks will need to see your cash-flow and business plans etc. in order to grant this to you. Remember this is another argument for having a great relationship with your bank and businesses would need to be well established and have a great trading history and credit rating to be able to get this. A business without this may struggle and therefore fall into insolvency.
Cash flow planning and managing supplier and customer credit terms/payments is therefore very important. Can you put off a supplier payment for a month? Are they willing to extend your trade credit? Do this too often and the relationship sours.
Also consider stock control/management and having the required stock which is being turned into cash relatively quickly. If you don't turn stock into cash quickly you will be left with depreciating current assets and potential spoilage costs. All in all not a good situation to be in!
Wednesday 22 May 2013
Y11 Examiners Reports
Hi All
https://www.dropbox.com/sh/5dzbcegkdxfaku3/mmtWLRbuOS
If you are wondering what revision to do tonight download these and read through the 2011/2012 one at minimum. It will help with technique.
Good luck to everyone tomorrow I am sure you will be Awesome!
I am in from 9am to 11am tomorrow before your exam in room E3 if you wanted to pop in and ask questions etc. Remember a calculator and black pens and a ruler to help you spot where graph lines meet if you are asked.
Mr Oates
https://www.dropbox.com/sh/5dzbcegkdxfaku3/mmtWLRbuOS
If you are wondering what revision to do tonight download these and read through the 2011/2012 one at minimum. It will help with technique.
Good luck to everyone tomorrow I am sure you will be Awesome!
I am in from 9am to 11am tomorrow before your exam in room E3 if you wanted to pop in and ask questions etc. Remember a calculator and black pens and a ruler to help you spot where graph lines meet if you are asked.
Mr Oates
Saturday 18 May 2013
Y12 Unit 1 Exam Feedback
Hi Guys
I have seen the paper and as usual some real zingers in the 4 mark section. Glad we talked about debentures in the run up revision session. Plus making clear what operating profit was! Never would have seen that as a first question.
The only confusion for us is question 8 where it asks to "show your working" but there is some debate as to whether you would show any.
Product trails came up for an 8 marker which is good given I have 4 of you ask me what they were and their advantages/disadvantages.
Section B had a good range: Supply side factors, differentiation, product trials, business ownership, unemployment and exchange rates.
My hope is that you recalled limited companies can obtain finance easier, have the unlimited liability and as such are seen as more reliable to use as a supplier.
Mr Oates
I have seen the paper and as usual some real zingers in the 4 mark section. Glad we talked about debentures in the run up revision session. Plus making clear what operating profit was! Never would have seen that as a first question.
The only confusion for us is question 8 where it asks to "show your working" but there is some debate as to whether you would show any.
Product trails came up for an 8 marker which is good given I have 4 of you ask me what they were and their advantages/disadvantages.
Section B had a good range: Supply side factors, differentiation, product trials, business ownership, unemployment and exchange rates.
My hope is that you recalled limited companies can obtain finance easier, have the unlimited liability and as such are seen as more reliable to use as a supplier.
Mr Oates
Wednesday 15 May 2013
Internet Browsers Market Share
Hi Guys
Great article HERE on the market share for internet browsers and how the market is being affected by new product launches from Microsoft as they use extension strategy's to keep their browsers popular.
Another article HERE for a live track which is a bit more up to date. You can also use to to see operating systems and so on are being used on different platforms. Very good data!
Great article HERE on the market share for internet browsers and how the market is being affected by new product launches from Microsoft as they use extension strategy's to keep their browsers popular.
Tuesday 14 May 2013
Y11/Y12 Business Ethics Resources
Hi Guys
https://www.dropbox.com/sh/iqejoiiqw29i4qi/CcjLfsWxcc
This link is for some resources on my dropbox which includes a PowerPoint and some useful articles.
https://www.dropbox.com/sh/iqejoiiqw29i4qi/CcjLfsWxcc
This link is for some resources on my dropbox which includes a PowerPoint and some useful articles.
Monday 13 May 2013
Y12 Exchange Rates & Interest Rates
Exchange Rates: "The value of one currency against another"
This video is awesome and explains exchange rates and goes into some added details about currency wars. Great Unit 1 revision!
http://www.bbc.co.uk/news/business-11722578
Also this video explains interest rates much better than I ever have in class. This is likely not saying much but there we go...
http://news.bbc.co.uk/2/hi/business/8444939.stm
Possible exam question: "The pound is said to be weak against the euro at present. Explain what this means to an importing UK based business."
P.S. Added value is NOT COST PLUS PRICING!!!!
This video is awesome and explains exchange rates and goes into some added details about currency wars. Great Unit 1 revision!
http://www.bbc.co.uk/news/business-11722578
Also this video explains interest rates much better than I ever have in class. This is likely not saying much but there we go...
http://news.bbc.co.uk/2/hi/business/8444939.stm
Possible exam question: "The pound is said to be weak against the euro at present. Explain what this means to an importing UK based business."
P.S. Added value is NOT COST PLUS PRICING!!!!
Sunday 12 May 2013
BEP Refresh
Break-even = Fixed Costs/Contribution per unit
Contribution per unit = Selling Price-Cost Price
e.g. FC=$9000 & VC per unit = $25 & Selling price = $35.
How many units need to be sold?
9000/CPU(SP35-VC25)
BE = 9000/10
BE = 900 Units
Margin of safety = The difference between predicted total revenue and the break even point. In other words the level of profit a business expects to make against the level at which it will cover its costs.
Larger MOS = Stronger chance of making a profit and less susceptible to changes in market conditions. Also can be used to help with securing finance etc.
MOS = Predicted Sales-BEP
E.G. Predicted units sold from example above is 1000 therefore MOS = 1000-900 = 100 Units. This is about 10% so you could argue that this is a small margin if the product was quite low value and it was a new business unsure of its actual sales and predicting BEP for the first time. Therefore they need to lower prices or increase advertising to ensure they sell more units.
Contribution per unit = Selling Price-Cost Price
e.g. FC=$9000 & VC per unit = $25 & Selling price = $35.
How many units need to be sold?
9000/CPU(SP35-VC25)
BE = 9000/10
BE = 900 Units
Margin of safety = The difference between predicted total revenue and the break even point. In other words the level of profit a business expects to make against the level at which it will cover its costs.
Larger MOS = Stronger chance of making a profit and less susceptible to changes in market conditions. Also can be used to help with securing finance etc.
MOS = Predicted Sales-BEP
E.G. Predicted units sold from example above is 1000 therefore MOS = 1000-900 = 100 Units. This is about 10% so you could argue that this is a small margin if the product was quite low value and it was a new business unsure of its actual sales and predicting BEP for the first time. Therefore they need to lower prices or increase advertising to ensure they sell more units.
Y11 New Exam Paper Practice
Hi Y11
I hope your revision is going well for your final Exam which as you know is worth 50% of your final grade.
Below are some link's to the exam paper and mark scheme we did in your mock and also two additional papers you can use to test your knowledge. Remember using past papers and a mark scheme works well for revision. To find the mark scheme for each paper just scroll down below the question paper.
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/GCSE%20SAMS%20Business%20Studies%20Booklet%202010.pdf
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/Edexcel%20GCSE%202009%20Business%20-%20SAM.pdf
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/GCSE-SAMS-Business-Studies-Booklet-2008.pdf
I would also advise going to the below site and searching for the examiner reports. Here you can see past answers and how the exam board marked them plus advice from the exam board. If you look at the final bullet points for each year you will find very useful tips on what students have done wrong each year in general so you can prepare more fully. Remember to look for Unit 3 for your exam paper.
https://www.dropbox.com/sh/5dzbcegkdxfaku3/mmtWLRbuOS
http://www.edexcel.com/quals/gcse/gcse09/Business/Business/Pages/default.aspx
If any of you want help or advice during study leave feel free to email me directly or arrange to come in. I am available after-school most days and will happily help you go through past papers and questions if you need to.
My main advice is to:
Remember Tutor2U, GCSE Bitesize and Business Studies Online are all great websites.
I hope your revision is going well for your final Exam which as you know is worth 50% of your final grade.
Below are some link's to the exam paper and mark scheme we did in your mock and also two additional papers you can use to test your knowledge. Remember using past papers and a mark scheme works well for revision. To find the mark scheme for each paper just scroll down below the question paper.
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/GCSE%20SAMS%20Business%20Studies%20Booklet%202010.pdf
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/Edexcel%20GCSE%202009%20Business%20-%20SAM.pdf
http://www.edexcel.com/migrationdocuments/GCSE%20New%20GCSE/GCSE-SAMS-Business-Studies-Booklet-2008.pdf
I would also advise going to the below site and searching for the examiner reports. Here you can see past answers and how the exam board marked them plus advice from the exam board. If you look at the final bullet points for each year you will find very useful tips on what students have done wrong each year in general so you can prepare more fully. Remember to look for Unit 3 for your exam paper.
https://www.dropbox.com/sh/5dzbcegkdxfaku3/mmtWLRbuOS
http://www.edexcel.com/quals/gcse/gcse09/Business/Business/Pages/default.aspx
My main advice is to:
- Ensure you read at least 2 examiner reports from the past two years.
- Focus on the theory you are least confident with first and attempt any questions you can find on these.
- Use question papers and mark schemes to plan out how you will answer questions in advance.
- Remember that questions come up again in different forms so all practice is good practice
- Make sure you go into the exam with lots of energy and confidence
Remember Tutor2U, GCSE Bitesize and Business Studies Online are all great websites.
Tuesday 30 April 2013
Tutor2U WOW Economics and Business resources
Hi Guys
Mrs Oates got a bit star struck and couldn't bring herself to get a photo with her business & economics hero's so please understand if she is a little light headed today... We will force her into it next year!
Got some really fantastic stuff today which I have shared with one group already for their economics revision. I will put this all onto the student share drive later as well.
I have been set a task by the Y12 group to blog on the following topics so I will do that tomorrow and give you some revision notes to look at over the weekend. Expect to be tested on them come Sunday and Medis is using the hang man resource we got from Tutor2U to flip the classroom and lead the starter!
Medis I am excited!
- Quality Management & TQM
- Marketing Objectives
- Stock Control
- Branding/Culture
- Taylor et al.,
- Org Structures (linked to leadership styles)
Mr Oates
Monday 29 April 2013
Mr Oates' Cover Lesson
Hi Guys
Apologies for the late notice the Tutor2U WOW Economics course switched days and I was supposed to be going Wednesday but I am going in today instead. I promise to share any Economics resources I steal from the training day.
Your task today is to really work together to answer the areas that you were all unsure on whilst going through the 3 mock papers. Consider Decentralisation, Marketing Objectives and so on.
Work as a team by splitting up the areas you are unsure on. Try to pick an area you are somewhat confident on so you can explain this to members of the group. Remember there is no point in keeping quiet about being unsure at this stage and we should be patient when trying to explain elements to people as teaching helps us embed knowledge much better.
When I come back I will quiz you on what you did and I want to see evidence. I also want to see the completed cash-flows and at least one of the 8 markers you have rewritten to get the full 8 marks. Dont pick the stupid one shown int he last paper before I speak to the exam board.
Use Tutor2U as your best source, oddly i am with them tomorrow so I will let you know how awesome it is to see lord sutch again...
Mr Oates
Apologies for the late notice the Tutor2U WOW Economics course switched days and I was supposed to be going Wednesday but I am going in today instead. I promise to share any Economics resources I steal from the training day.
Your task today is to really work together to answer the areas that you were all unsure on whilst going through the 3 mock papers. Consider Decentralisation, Marketing Objectives and so on.
Work as a team by splitting up the areas you are unsure on. Try to pick an area you are somewhat confident on so you can explain this to members of the group. Remember there is no point in keeping quiet about being unsure at this stage and we should be patient when trying to explain elements to people as teaching helps us embed knowledge much better.
When I come back I will quiz you on what you did and I want to see evidence. I also want to see the completed cash-flows and at least one of the 8 markers you have rewritten to get the full 8 marks. Dont pick the stupid one shown int he last paper before I speak to the exam board.
Use Tutor2U as your best source, oddly i am with them tomorrow so I will let you know how awesome it is to see lord sutch again...
Mr Oates
Friday 26 April 2013
Sunday 21 April 2013
Monday 25 March 2013
Year 11 Period 4
Complete ALL the tasks below:
1. Watch this link: http://www.youtube.com/watch?v=RWD1bjfPAYk
2. Read chapter 50 and summarise on to an A3 page in your book (pages 278-283)
3. Answer these exam style questions:
1. Watch this link: http://www.youtube.com/watch?v=RWD1bjfPAYk
2. Read chapter 50 and summarise on to an A3 page in your book (pages 278-283)
3. Answer these exam style questions:
- What is the difference between quality control and quality assurance (4 marks)
- Explain why good quality products are important to a company like Spinneys (3 marks)
- How can a reputation for poor quality service effect a company such as Toyota (6 marks)
- Explain why a highly motivated staff are more likely to deliver high quality service (3 marks)
- Which system of quality control would be better for Toyota or Mars (quality control or quality assurance?) (4 marks)
- Discuss how quality can cause stakeholder conflict in a company such as Toyota or Spinneys (8 marks)
Saturday 16 March 2013
ASOS and the Product Lifecycle
Y12 - a great casestudy on how we can relate the product lifecycle to markets as well as products!
Read through this casestudy on ASOS
http://businesscasestudies.co.uk/asos-com/the-product-life-cycle-and-online-fashion/the-product-life-cycle.html#axzz2Nm3WCUEe
Read through this casestudy on ASOS
http://businesscasestudies.co.uk/asos-com/the-product-life-cycle-and-online-fashion/the-product-life-cycle.html#axzz2Nm3WCUEe
Friday 15 March 2013
Google Reader a DOG product?
http://www.euronews.com/2013/03/14/web-google-puts-its-reader-to-sleep-outrage-ensues/
Google have decided to kill off one of their products in what they have termed "A second spring of cleaning..." Is this a valid example of a Dog product?
"While the product has a loyal following, over the years usage has declined. So, on July 1, 2013, we will retire Google Reader. Users and developers interested in RSS alternatives can export their data, including their subscriptions, with Google Takeout over the course of the next four months."
"While the product has a loyal following, over the years usage has declined. So, on July 1, 2013, we will retire Google Reader. Users and developers interested in RSS alternatives can export their data, including their subscriptions, with Google Takeout over the course of the next four months."
A declining user base along with a market that does not appear to be growing? Plus a strategy to move users to a new question mark product in Google Takeout.
Diversification: Samsung the dried fish selling company?!?!
http://www.businessinsider.com/how-samsung-came-from-nowhere-2013-3
Great article on how Samsung have made it big in 2012/13 & relates strongly to a question I recently asked in a test... 5 HP to the first student who points this out to me! But a strange fact I had no idea about was its starting point as selling dried fish?
Nokia also went from a tyre manufacturer or a similar such field back in the day but dried fish?
Heres another article looking as Samsungs rise from such humble beginnings.
Great article on how Samsung have made it big in 2012/13 & relates strongly to a question I recently asked in a test... 5 HP to the first student who points this out to me! But a strange fact I had no idea about was its starting point as selling dried fish?
Nokia also went from a tyre manufacturer or a similar such field back in the day but dried fish?
Heres another article looking as Samsungs rise from such humble beginnings.
More on Capacity Utilisation
#buss2 #buss4 Revenue per employee Yahoo!: $426,000. Microsoft: $775,900.Google: $931,600. Facebook: $1,102,000.Apple: $2,262,000.
— Thea Demitriou (@BusinessAlevel) March 14, 2013
Plus follow this guys on Twitter if you use it I don't so its useless for me. https://twitter.com/dizzleeducation
UMS Calculator
Mr Oates what do I need to get an A now with my current grade?
Well never fear you don't have to deal with my inability to remember such things just use THIS helpful link and enter in your current score!
Well never fear you don't have to deal with my inability to remember such things just use THIS helpful link and enter in your current score!
Excellent Article for budding female entrepreneurs
http://ideas.time.com/2013/03/07/why-i-want-women-to-lean-in/
Mrs Oates found this and it is a stunning read. Some of the stats and facts within are astounding and her views on women in the workplace are inspirational. The idea that you can't have a family and a career as a woman are totally thrown into perspective!
I have quite often told Mrs Oates I am happy to become a house husband, such is my passion for female equality but she doesn't like the idea for some reason?
Anyhows great bit of side information for psychology and sociology students with the Harvard Business School Experiment spoken about using a different names candidate who was a success and people viewing the female candidate in a negative light compared to the male one.
If you are wondering who Sheryl Sandberg is btw check out THIS brief profile.
Mrs Oates found this and it is a stunning read. Some of the stats and facts within are astounding and her views on women in the workplace are inspirational. The idea that you can't have a family and a career as a woman are totally thrown into perspective!
I have quite often told Mrs Oates I am happy to become a house husband, such is my passion for female equality but she doesn't like the idea for some reason?
Anyhows great bit of side information for psychology and sociology students with the Harvard Business School Experiment spoken about using a different names candidate who was a success and people viewing the female candidate in a negative light compared to the male one.
If you are wondering who Sheryl Sandberg is btw check out THIS brief profile.
Leadership Styles, Teleworking, Capacity Utilisation & Culture all rolled into one
http://www.economist.com/news/leaders/21572767-forcing-workers-come-office-symptom-yahoos-problems-not-solution
Get on with some Unit 1 & 2 revision by considering this article. Consider the pro's and con's of teleworking to an organisation and Evaluate whether the CEO is doing the right thing. Could this demotivate staff? Or increase productivity?
Look at the facts about how much each of Googles employees earns for the business compared to Yahoo!
Are Teleworkers less likely to gain promotion?
Loads of great stuff to think on!
Get on with some Unit 1 & 2 revision by considering this article. Consider the pro's and con's of teleworking to an organisation and Evaluate whether the CEO is doing the right thing. Could this demotivate staff? Or increase productivity?
Look at the facts about how much each of Googles employees earns for the business compared to Yahoo!
Are Teleworkers less likely to gain promotion?
Loads of great stuff to think on!
Business Culture: Facebook
http://www.tutor2u.net/blog/index.php/business-studies/comments/clue-about-facebooks-culture
Something a bit abstract the more mathematical students find annoying is about business culture. Have a look above to see some good examples from Facebook!
Below is a playlist of different clips of people talking about the culture at their organisation.
Something a bit abstract the more mathematical students find annoying is about business culture. Have a look above to see some good examples from Facebook!
Below is a playlist of different clips of people talking about the culture at their organisation.
Get Revising!
http://www.tutor2u.net/assets/specmaps/Edexcel-GCEBus2a.pdf
Some of you were dissapointed with your Unit 1 results whilst others were exceptionally pleased! This is normal for the first unit at AS as you adjust to the workload required for a full A-Level.
The trick is whatever your result to move on and progress. Those of us recieving A's should be trying to progress to A* next time around and those on C's to B's and so on.
There is nothing stopping you jumping 4 or so grade points. I myself went from a mid C in an english lit exam to 100% the next time around. A similar story with my Business & Economics A-Level with high C-B turned into A's by the time A2 came around.
Above is the Tutor2U resource PDF for all the information needed for the Edexcel unit 2 exam. As one of my favourite Boston Legal characters often said "Think on it, Sleep on it, Pray on it..."
The work starts now not in a months time and you need to be reading ahead on the topics not covered and going back over past information using the stuff we have put on fronter and online using appropriate websites.
Myself and Mrs Oates are here to answer any questions you may have but the only person who can make a real difference to your grades is you!
Some of you were dissapointed with your Unit 1 results whilst others were exceptionally pleased! This is normal for the first unit at AS as you adjust to the workload required for a full A-Level.
The trick is whatever your result to move on and progress. Those of us recieving A's should be trying to progress to A* next time around and those on C's to B's and so on.
There is nothing stopping you jumping 4 or so grade points. I myself went from a mid C in an english lit exam to 100% the next time around. A similar story with my Business & Economics A-Level with high C-B turned into A's by the time A2 came around.
Above is the Tutor2U resource PDF for all the information needed for the Edexcel unit 2 exam. As one of my favourite Boston Legal characters often said "Think on it, Sleep on it, Pray on it..."
The work starts now not in a months time and you need to be reading ahead on the topics not covered and going back over past information using the stuff we have put on fronter and online using appropriate websites.
Myself and Mrs Oates are here to answer any questions you may have but the only person who can make a real difference to your grades is you!
Sunday 3 March 2013
Tuesday 26 February 2013
Sunday 24 February 2013
Saturday 23 February 2013
The issue with financial methods of motivation
http://www.guardian.co.uk/business/2013/feb/22/lloyds-chief-executive-bonus
As we see above they can seem excessive to those looking in. Plus a bonus for losing a business money? Only in banking...
As we see above they can seem excessive to those looking in. Plus a bonus for losing a business money? Only in banking...
Tuesday 19 February 2013
Cover work Mrs Oates Wed P4
Can you please finish researching your news article on issues with product quality.
Can you please makes notes on the following: Quality Control/ Quality Assurance/Quality Circles/TQM
Please ensure you have definition/explanations/advantages and disadvantages
Tuesday 5 February 2013
Sunday 3 February 2013
Monday 28 January 2013
Sunday 27 January 2013
Tall Vs Flat Podcast
http://www.bbc.co.uk/radio/player/b016ljjd
Listen to this if you want some industry opinion on the pro's and cons between tall vs flat organisations.
Listen to this if you want some industry opinion on the pro's and cons between tall vs flat organisations.
Saturday 26 January 2013
Tuesday 15 January 2013
Product Lifecycle: Facebook
Has Facebook market become saturated?
Outstanding article from Miss Meejan! Give it a read in preperation for the work we will do on product life cycles.
Y12 Unit 2
Hi Y12
My group are producing an intro PowerPoint and set of key definitions for each topic for the Unit 2. I have uploaded the Unit 2 SOW into Fronter within Lesson resources - Unit 2.
We will get the resulting work into fronter next week!
Mr Oates
My group are producing an intro PowerPoint and set of key definitions for each topic for the Unit 2. I have uploaded the Unit 2 SOW into Fronter within Lesson resources - Unit 2.
We will get the resulting work into fronter next week!
Mr Oates
Wednesday 9 January 2013
Feedback from exam?!?!
Hi Guys
Comment and leave some feedback about the exam. Stuff that threw you, delightful questions etc.
Here are my thoughts!
Section A
Q1 Break Even Level of Output = FC/CPU: Given it was the main topic of discussion for the entire day I am happy it was the first question so you had it out of the way. Medis... Your arguments with me must have paid off here! I hope you saved your cost-plus knowledge for later... 250 was the right answer
Q2 Leadership Styles: What did I say I thought would come up for sure this year?!?! BOOM He says discuss and agree so he is not paternalistic as they listen but steer towards what they know is right. Democratic is the way forward.
Q3 Stakeholders: Opening hours would mean longer working hours for staff...
Q4 They were clearly wanting to put other objectives before profit for an alternative healthcare (hippy stuff) partnership. Non-for-profit or social enterprise.
Q5 Cost-Plus Pricing: Medis' question! I hope no-one described it as "just like adding value..."
Q6 Market Mapping: Toughie needs to be either C or D. Market niche same as spotting a gap in the market... D is interesting as can you really use a market map to add value and determine competitive advantage? Well you could say I could Add value or increase the price because customers see more quality in my product than I currently have it placed. Also does my company's products have a competitive advantage due to their price, quality, age of customer and so on?
Under exam pressure I would have gone for C and explained that it couldn't be the other two because an entrepreneur would have better methods of doing the other.
However, without the pressure I would say D. I would say that if you picked the wrong one here you shouldn't be too hard on yourself.
Q7 Sources of finance: The tricky, evil question of the year. Clearly could argue both trade credit and commercial bank loan and I hope the mark scheme reflects this. Debentures is long term and share capital is not suitable for a small business so those are easy detractors. Trade Credit you could arguie as its specifically talking about expanding stock levels so their suppliers giving them more credit would help. However, as a small business would they be able to leverage trade credit? Risk of damaging a long-term relationship? I would have gone for Trade Credit because it fits the scenario but I honestly am not sure what the exam board would be looking for.
You could argue a bank loan as it is more likely to be suitable for a small business with a proven "established" track record and Jim & Jean would not be risking a supplier relationship. Also increasing stock levels might require more storage space and expansion of the business which may mean using the loan to get a larger amount of money and expanding other parts of the business.
Q8: Niche Market Ethical business: Television advertising for a regional business? Get out of here! BOOM!
Tough call...
Section B
Q9: Typical pointless question which has no relevance on actual businesses. Characteristics & Motives: They type of person someone is vs what drives them to do what they do.
Case study: Characteristics.
Case Study: Motives
Q10: Opportunity Cost: Easy question! Could have talked about the chair he rented, decisions to raise own finance and all sorts of stuff to talk about!
Q11: Interest rates BOOM: I know you will have all absolutely destroyed that question! High price luxery good with well paid clients no doubt given he was located in Worcester and had clients from Stourbridge (Mariah, Brenden & Suleyman apologies as you might not have known these were high income areas). High end salon so limited effects to a certain degree because of his high earning clientele would have been the difference between 7 & 8 marks. And DEPENDS UPON THE RATE OF INFLATION ITSELF! I am note sure how many times I have said this recently.
Q12: Competitive advantage: Easy question for a GCSE paper never mind A-Level. Define Competitive advantage and then let rip with your business knowledge. Elle fashion magazine and training program would have features in my answer.
Q13: Best 12 Marker ever given it was not only split but covering two good topics.
Primary Market research. Focus groups, online questionnaires, Satisfaction of current hair salon staff (for recruitment) and customers (for sales). Higher level will have talked about new area to him so he would be advised to research it properly. However high costs given it may involve travel to London and take up time. Would he not be better off asking a market research company to do this for him instead? However, this might mean they say what he wants to hear so he might not get a true reflection. Does he have the skills to conduct market research himself? Well he "is familiar with factors which affect sales income" and has industry knowledge to support him. I would recommend he either goes on a course or sends a current employee on a course so he conducts the market research effectively or recruits a marketing manager to do this. Opportunity cost with higher outlay however offset by increased knowledge and experience to get the research they need to conduct effectively He could do it on a temporary contract to begin with so that he can not renew contract if decision is made not to expand or he could also consider the external market research company.
Business Plans: BOOM! No guarantee off success however if he is moving to London will need further capital and it will support his application for finance and help plan cash-flow, marketing etc! I know you will have destroyed this one also.
Comment and leave some feedback about the exam. Stuff that threw you, delightful questions etc.
Here are my thoughts!
Section A
Q1 Break Even Level of Output = FC/CPU: Given it was the main topic of discussion for the entire day I am happy it was the first question so you had it out of the way. Medis... Your arguments with me must have paid off here! I hope you saved your cost-plus knowledge for later... 250 was the right answer
Q2 Leadership Styles: What did I say I thought would come up for sure this year?!?! BOOM He says discuss and agree so he is not paternalistic as they listen but steer towards what they know is right. Democratic is the way forward.
Q3 Stakeholders: Opening hours would mean longer working hours for staff...
Q4 They were clearly wanting to put other objectives before profit for an alternative healthcare (hippy stuff) partnership. Non-for-profit or social enterprise.
Q5 Cost-Plus Pricing: Medis' question! I hope no-one described it as "just like adding value..."
Q6 Market Mapping: Toughie needs to be either C or D. Market niche same as spotting a gap in the market... D is interesting as can you really use a market map to add value and determine competitive advantage? Well you could say I could Add value or increase the price because customers see more quality in my product than I currently have it placed. Also does my company's products have a competitive advantage due to their price, quality, age of customer and so on?
Under exam pressure I would have gone for C and explained that it couldn't be the other two because an entrepreneur would have better methods of doing the other.
However, without the pressure I would say D. I would say that if you picked the wrong one here you shouldn't be too hard on yourself.
Q7 Sources of finance: The tricky, evil question of the year. Clearly could argue both trade credit and commercial bank loan and I hope the mark scheme reflects this. Debentures is long term and share capital is not suitable for a small business so those are easy detractors. Trade Credit you could arguie as its specifically talking about expanding stock levels so their suppliers giving them more credit would help. However, as a small business would they be able to leverage trade credit? Risk of damaging a long-term relationship? I would have gone for Trade Credit because it fits the scenario but I honestly am not sure what the exam board would be looking for.
You could argue a bank loan as it is more likely to be suitable for a small business with a proven "established" track record and Jim & Jean would not be risking a supplier relationship. Also increasing stock levels might require more storage space and expansion of the business which may mean using the loan to get a larger amount of money and expanding other parts of the business.
Q8: Niche Market Ethical business: Television advertising for a regional business? Get out of here! BOOM!
Tough call...
Section B
Q9: Typical pointless question which has no relevance on actual businesses. Characteristics & Motives: They type of person someone is vs what drives them to do what they do.
Case study: Characteristics.
- Confidence (Didnt prepare a business plan as was confident he had enough money) Could also argue a risk-taker with the same example.
- Passionate: (Job failed to match his passion for creativity)
- Hard-Working (Commitment to working long hours)
Case Study: Motives
- Be your own boss (19 years of self-employment)
- Desire to be the best & Personal development (Training, Prestigious Salon, Passion for his business)
- Loads of other stuff to talk about.
Q10: Opportunity Cost: Easy question! Could have talked about the chair he rented, decisions to raise own finance and all sorts of stuff to talk about!
Q11: Interest rates BOOM: I know you will have all absolutely destroyed that question! High price luxery good with well paid clients no doubt given he was located in Worcester and had clients from Stourbridge (Mariah, Brenden & Suleyman apologies as you might not have known these were high income areas). High end salon so limited effects to a certain degree because of his high earning clientele would have been the difference between 7 & 8 marks. And DEPENDS UPON THE RATE OF INFLATION ITSELF! I am note sure how many times I have said this recently.
Q12: Competitive advantage: Easy question for a GCSE paper never mind A-Level. Define Competitive advantage and then let rip with your business knowledge. Elle fashion magazine and training program would have features in my answer.
Q13: Best 12 Marker ever given it was not only split but covering two good topics.
Primary Market research. Focus groups, online questionnaires, Satisfaction of current hair salon staff (for recruitment) and customers (for sales). Higher level will have talked about new area to him so he would be advised to research it properly. However high costs given it may involve travel to London and take up time. Would he not be better off asking a market research company to do this for him instead? However, this might mean they say what he wants to hear so he might not get a true reflection. Does he have the skills to conduct market research himself? Well he "is familiar with factors which affect sales income" and has industry knowledge to support him. I would recommend he either goes on a course or sends a current employee on a course so he conducts the market research effectively or recruits a marketing manager to do this. Opportunity cost with higher outlay however offset by increased knowledge and experience to get the research they need to conduct effectively He could do it on a temporary contract to begin with so that he can not renew contract if decision is made not to expand or he could also consider the external market research company.
Business Plans: BOOM! No guarantee off success however if he is moving to London will need further capital and it will support his application for finance and help plan cash-flow, marketing etc! I know you will have destroyed this one also.
Monday 7 January 2013
GOOD LUCK YEAR 12
Remember to refer to the case study throughout your answers.
Define the key term in each question before answering.
Give two sides of the story for higher level questions with a final opinion. Your opinion DOES NOT need to be on one side or the other you CAN sit on the fence and say it depends on the factors in play or on the exact situation the business falls into. The business world is an every changing environment remember! Just justify your opinion.
When you open up section B spent 3 minutes or so highlighting the key info e.g. name of business, type of business, size of business, ownership, profits or key figures, information about target market, for profit or non-for-profit. Any questions or last minuite worrys find me or Mrs Oates for help regardless of whether we are teaching or not.
Define the key term in each question before answering.
Give two sides of the story for higher level questions with a final opinion. Your opinion DOES NOT need to be on one side or the other you CAN sit on the fence and say it depends on the factors in play or on the exact situation the business falls into. The business world is an every changing environment remember! Just justify your opinion.
When you open up section B spent 3 minutes or so highlighting the key info e.g. name of business, type of business, size of business, ownership, profits or key figures, information about target market, for profit or non-for-profit. Any questions or last minuite worrys find me or Mrs Oates for help regardless of whether we are teaching or not.
Saturday 5 January 2013
Y12
Happy New Year Y12.
Exam in 2 days!
Tasks for today: Revise pricing strategies incase there are any mentions - Penetration Pricing/Price Skimming/Cost Plus/Loss Leaders
Info can be found here: http://www.tutor2u.net/blog/index.php/business-studies/tagged/tag/revenue
Read through the examiners report from June 2012 (your mock) and look at and highlight examiner comments.
https://www.edexcel.com/migrationdocuments/secure_past_papers_gcse/GCE%20June%202012%20-%20ER/6BS01_01_pef_20120816.pdf
Happy 2013!
Exam in 2 days!
Tasks for today: Revise pricing strategies incase there are any mentions - Penetration Pricing/Price Skimming/Cost Plus/Loss Leaders
Info can be found here: http://www.tutor2u.net/blog/index.php/business-studies/tagged/tag/revenue
Read through the examiners report from June 2012 (your mock) and look at and highlight examiner comments.
https://www.edexcel.com/migrationdocuments/secure_past_papers_gcse/GCE%20June%202012%20-%20ER/6BS01_01_pef_20120816.pdf
Happy 2013!
Subscribe to:
Posts (Atom)