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AQA BUSS3/BUSS4 Revision Thread

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Guys I had had lots of requests for specific materials. Below is all my materials from my business course, mind maps, research and theory notes.

https://www.dropbox.com/sh/jas35pkvxpo2whd/AADXdx-FvFSvyWUtpkohDQ6na?dl=0

I wish you all the best for your exam.

what do all those different colours on your case study notes mean?

Reply 81

username1802765

Original post by Raihan.

what do all those different colours on your case study notes mean?

Hi, red typically means a numeric value like a certain amount of money or percentage. Orange is used for dates or years. Purple is used for objects or a specific topic to give the other two context.

Reply 82

Raihan.

Original post by Aidan.reed

Hi, red typically means a numeric value like a certain amount of money or percentage. Orange is used for dates or years. Purple is used for objects or a specific topic to give the other two context.

thanks!

Reply 83

imran_

Original post by Raihan.

thanks!

shutup

Reply 84

dougiepurple

Has anyone got an casestudies for the unit 4 section in the book 'making strategic decisions'? It's chapter 30 in the Helen Coupland-Smith, Diane Mansell and Peter Stimpson textbook. Because I am really struggling to fine any! Any help would be greatly appreciated!

(edited 7 years ago)

Reply 85

username1802765

Original post by dougiepurple

Look at my previous post with the dropbox stuff.

Reply 86

dougiepurple

Original post by Aidan.reed

Look at my previous post with the dropbox stuff.

Thankyou! I've had a look but I can't seem to find one on it about strategic decisions?

Reply 87

alishia72

Hi, just doing some BUS4 revision on ethics & CSR, would you say that these are quite similar so if a 40 mark essay on CSR came up I could use my ethics case study examples for it? :smile:

Reply 88

flamigos123

Does anyone have a general method or technique to use in BUSS3 questions?

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Reply 89

JoshFlySon

Original post by alishia72

Hi, just doing some BUS4 revision on ethics & CSR, would you say that these are quite similar so if a 40 mark essay on CSR came up I could use my ethics case study examples for it? :smile:

I suppose you could as they come under the same topic (social environment ) but would probably be best to use specific CSR examples like M&S and Unilever

Reply 90

hnaveeed846

Original post by Aidan.reed

Here you go!
As for BUSS1/2 I can't say it enough use the case studies at every opportunity it provides your answers with context. Also I would learn all the calculations you require as its valuable time you can save and spend writing your answer!

Are these researches for section a or b plese ?!?!?! Thank You !

Reply 91

imran_

Original post by hnaveeed846

Are these researches for section a or b plese ?!?!?! Thank You !

section B obviously?

Reply 92

JoshFlySon

anyone got any business examples of current UK economic environment?

Reply 93

imran_

Hi, can anyone comment on this BUSS4 paragraph please. I really need help for this module and any feedback will be appreciated :biggrin:

Question
In 2012, manycompanies such as Thorntons, the chocolate retailer, and Comet, the electronicsretailer, announced poor financial results as a result of difficult tradingconditions. Several commentators claimed that such businesses had beenunprepared for changes in their external environment. To whatextent do you think that it is possible for businesses to prepare effectivelyfor changes in their external environment? Justify your answer with referenceto Thorntons, Comet and/or any other organisations that you know.
ANSWER The external environmentrefers to the actions which happen outside an organisations control, such as a recessionor a change in demand. This may have positive or negative influences onbusinesses dependant on how they respond to these changes.
One method inwhich businesses will be able to prepare effectively for changes in theirexternal environment is by having greater flexibility in changing prices duringa recession. The recession in… had resulted in many businesses failing due tothe inability of setting low prices as their revenue were not exceeding theircosts and thus resulting on major loses financially which have resulted inbusinesses to shut down permanently. Consumers were not able to afford to payfor such prices and thus the luxury industry were not able to reduce theirprices lower enough due to this strategy demanding their brand image. Thereforebusinesses are able to prepare for changes in the external environment bysetting low prices by having an inelastic PED and thus are able to maintaintheir revenue and still remain profitable in their industry. Furthermore oncethe economy reaches the ‘Boom’ stage businesses with greater flexibility inprices will still be able to remain profitable, depending on the demand on theproduct. Consumers will be willing to spend greater amount of money onnecessity products such as food and water rather than on luxury products whichwill be seen as an opportunity cost to them. A good example of this is Dominos.During the recession consumers were prepared to pay for fast food rather thanspend large amounts of money on luxury restaurants. Due to this dominos hadchanged their marketing mix and spent more on promotional techniques to targeta wider geographical market and thus leading to profits rising to 25.2% in …..Overall, the ability to change prices during changes in the external environmentwill enable businesses to prepare for changes and thus remain financiallystable. However this is dependent on the industry and if the product/service isa necessity to the consumer.

Reply 94

Jamielin888

This thread is very helpful

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Reply 95

De Re Publica

Has anyone got any mock example questions for Retrenchment, legislation and the EU? Cheers

Reply 96

JoshFlySon

Original post by De Re Publica

Has anyone got any mock example questions for Retrenchment, legislation and the EU? Cheers

is the UK's possible withdrawal from membership of the EU the most significant threat currently facing businesses based in the UK?

Reply 97

De Re Publica

Original post by JoshFlySon

is the UK's possible withdrawal from membership of the EU the most significant threat currently facing businesses based in the UK?

Cheers - could you explain how you'd structure an answer to it?

Reply 98

jadder1224

Hi guys, the question:

To what extent does the use of advances in e-commerce make it easier for new entrants to challenge market leaders.

I have started it but not finished yet, but please could you guys give me an idea of what level this essay is, like good/reasonable/limited application and analysis. This is how I have set it out:

Introduction

There are many reasons why the use of advances in e-commerce will make it easier for new entrants to challenge leaders, this includes, the low cost of setting up an e-commerce business, therefore lowering the barriers to entry. However, it may not be so easy, as market leaders already have a loyal customer base, and also have a strong financial position.

Point 1

One reason why the use of advances in e-commerce does not make it easier for new entrants to challenge market leaders is because market leaders have a strong financial position. Having a strong financial position is important because it means that more money can be invested into the e-commerce strategy, this will result in the further development of the business' website or app, leading to a more user-friendly service, therefore, this will attract more customers, which will mean that the business benefits from higher sales, higher profits, and a stronger market position. One example is Dominoes, Dominoes said sales were driven by digital sales, with digital sales overtaking store sales, according to their CEO, their success in the UK was the result of the investment they made in market leading e-commerce initiatives. However, if the new entrant has a unique selling point, then there is a potential for the entrant to gain and attract enough customers in order to survive and gain brand awareness. So, as we can see here, market leaders are able to invest large amounts in their e-commerce strategy, therefore, enabling development, and increasing the potential for more customers.

Point 2

However, one reason why it is easier for new entrants to challenge market leaders is because the use of e-commerce has lowered the barriers to entry. E-commerce has lowered the barriers to entry, as shops and buildings are no longer required. This means that the set up costs for the business are reduced significantly, this will result in lower unit costs, and it can also lower the breakeven output, leading to a higher profit margin. This means that lower prices can be charged, which according to Porter, cost leadership will result in competitive advantage. This will attract more customers, which will result in high revenues, and therefore high profits. It also means that market share can be gained. One example, is Uber. Uber is a ride sharing business, it has disrupted the London taxi cab market, by releasing an app allowing consumers to book a ride on demand, and pay the fee online. The development of an app will be relatively cheaper than the start up costs of a traditional taxi business. However, responses from stronger competitors could cause you to lose your competitive advantage, this will result in less customers, and lower profits. So, as demonstrated by Uber, entering a market using e-commerce can be relatively cheaper than entering the market traditionally.

So guys, what would you you mark this, I always find it hard to mar my own work!
Thankyou :smile:

Reply 99

JoshFlySon

Reasonable to be honest, when you talk about lower barriers to entry why not mention Porter's five forces - with Uber mention how they have no substantial assets (own no cabs) given them a cost advantage - mention 'pure plays' as well and how it has made selling online much easier and at a lower cost compared to traditional brick and mortar models
I have done this question as well