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Edexcel AS Business Studies: Unit 1: Tussaud's Group Case Study Thread!

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Reply 80

westlife2005

First set of notes for ye all:

Monopoly.doc24.6KB

Reply 81

westlife2005

business_as_usual

westlife do u go the same college as me :P my teacher told me the same topics to revise and the 4 things to focus on exactly as you said above and that the exam wont really go into A04.

Anyway guys I wont be posting on this anymore so i'll wish you all the best of luck and thank westlife for this thread which has helpedme immensely, thanks :smile:

Lol, what college do ye go to?

And yeah, best of luck to ye aswell!

Next part:

21. What would influence the design of a management information system in the Tussauds group?

A management information system, is usually now-a-days an electrical system to which data can be transfered from country to country, and is especially needed for the Tussauds Group considering it is a multi-national business. Modern systems include EDI - Electronical Data Interchange. With this system data about an employee, or any item within a business can be eletronical sent to anywhere in the world. A similar system used to store stock levels, and process swipe cards, epsecially now with the modern day chip and pin system is EPOS- electronic point of sale. It allows a computer to generate totals, and ammend stock levels, as well as credit/debit swipe cards. Other systems can reorder stock in conjuction direct with suppliers.

The difficulties, however are choosing the corect system for your business. There are several areas which must be considered before finalising a decision. Is the message important? Electrical interchange can be tempremental especially transmitting large amounts of data. Even in internet time, some data interchange can take longer than is wanted. Also, messages can become corrupt, and the message being sent, may be completely different to the orignial. Electonical data interchange is a very impersonal technology, and so you must consider if the message would be better off told face to face.

How many people need to receive the message? Electrical interchange is emmencely good at being able to send multiple versions of data to sereveral receipiant. In the modern world, we are unable to be in two places at once, but with other management systems and communications systems, such as video conferencing, it is easy to appear and to communicate multinationaly from one place.

Is feedback required? If so, does the person or business you are sending the data to have the capability to accept and feedback on the message sent. Some of the data interchange systems are not cheap, so for Tussauds, they needed to determine what information is needed to be sent, and which attractions are going to be equipped to send this information. As the business is already segmented geographically, it may be a good idea to have short spans of communication from attractions around an area, and then the biggest attraction in that area send it to head office, to make a less effecienct system, yet keeping the cost down.

Finnaly, Tussauds must consider whether a state of the art electronic system is necessary or whether there are other management information systems which are possible over a multinational business.

Considering the information given to us, about Tussauds being well established, and existing as a multinational business, it is more than likely the case that their system will have to be updated only, and not that a whole new one will be created. This will again be less financially demoralising, and will enable the business to maintain an established cash flow. My recommendation is that new technological advancements must be taken into consideration, and now being part of merlin is going to allow financial investment such as devloping information systems to take place. So really, Tussauds styill needs to consider the points listed, but to remain effecient against the competition, it must maintain a high standrd of communciation.

Reply 84

JamesssG

Hope this helped :smile:

Reply 85

JamesssG

Just spell checked it.. oops!

Reply 86

westlife2005

JamesssG

Hope this helped :smile:

James! That really helped alot mate! :smile:

Ye know the question about their organisation structure which is a few posts above, do ye know what else could be added to that? :s-smilie:

Also i think that for each of the topics which we've been told are most likely to come up, we should make a list of possible questions that we could be asked for each of them! Fill in any that ye can think of guys

Mission Statement
1. What is a mission statement (2 marks)

Investors in People
1. Explain what is meant by 'Investors in People' (2 marks)

2. The Tussauds Group has been IIP accredited. Discuss how this may be linked to Tussaud's 'corporate responsibility'

Monopoly
1. The Tussauds Group is dominant in the UK leisure market, explain how they could be seen to be a monopoly (7 marks)

Motivation
1. The Tussauds Group provides 'needs-based training' for employees to reach their 'full potential'. Explain how the motivation theories of Tussauds may be linked to Maslow's hierarchy of needs.

2. Assess the importance of employee involvement in ensuring that Tussauds employees are highly motivated and productive (11 marrks)

3. Analyse the financial incentives Tussauds could use to motivate their employees (12 marks)

4. Assess the benefits to Tussauds of offering their employees 'needs based training'

Stakeholders
1. Name at least two internal, and two external stakeholders to the Tussauds group.

Organisation structures

Reply 87

JamesssG

Motivation: The Tussauds Group provides 'needs-based training' for employyes to reach their 'full potential'. Explain how the motivation theories of Tussauds may be linked to Maslow's hiearchy of needs.

Reply 88

JamesssG

Stakeholders: Name at least two internal, and two external stakeholders to the Tussauds Group.

IIP: The Tussauds Group has been IIP accredited. Discuss how this may be linked to Tussaud's 'corporate responsiblilty'

Reply 89

westlife2005

JamesssG

Ta for that! Added it in to the previous post along with a few others :wink:

Reply 90

JamesssG

Motivation: Assess the benefits to Tussauds of offering their employees 'needs based training'

Reply 91

westlife2005

By the way James, your answer to that question about management information systems was fabulous - really good!

What approach do you use to answer the questions? I'm gonna try out a few on these questions we're coming up with :wink:

Reply 92

JamesssG

Motivation: Assess the benefits of Tussaud's managers using a 'consultative' managerial style.

Reply 93

JamesssG

Um.. intro where i define key terms which are in the question, then break it down into all points i can think of considering all points of view, then sum up by concluding what i think, what works best, and what works in practice :smile:

Reply 94

JamesssG

I'm predicted an A, so no pressure on me :s-smilie:

Reply 95

westlife2005

Ooooooh, an A grade student! :smile:

Well done mate!

What i have trouble with is knowing how much each question actually requires in the asnwer.

2 marks = For this i know that all ye need is a definition of the terms in the question.

What do ye need in ye answer for the following mark questions:

7 marks =

8 marks =

11 marks =

12 marks =

Then when it says Analyse such and such a thing, Assess such and such a thing and Evaluate such and such a thing - i haven't got a clue on how to approach the answers to them if ye could give me some help with that it'd be appreciated :wink:

Reply 96

JamesssG

the mark sheme by which edexcel works on is usualy not how many points are needed. But, if you do look at it as 2 marks per point, you have more chance of getting full marks. They work on a level system, by which you are catergorised into and it determines ur mark.
Level 1 = 1-3 Marks
Level 2 = 4-6 Marks
Level 3 = 7-8 Marks
Level 4 = 9-12 Marks

The more knowledge, understanding, good written strucutre, and a good conclusion are shown, the more chance you have of getting a good mark. (The above works for a 12 mark question, but can be applied also to the other marks)

In terms of the question. I always use the same layout, then in the conclusion, read the question again and answer it with the correct wording. Make sure you do answer the question though. Quotes should also be used, i sometimes even quote the question at the end.

Reply 97

westlife2005

Ahhhhhh, and if i remember:

Level 1 = Knowledge
Level 2 = Application
Level 3 = Analysis
Level 4 = Evaluation

Would this be a good layout then:

1-3 marks = Definition of terms in question

4-6 marks = Definition of terms in question
= Apply the terms in the question to the case study

7-8 marks = Definition of terms in question
= Apply the terms in the question to the case study
= Give advantages amd disadvantages

9-12 marks = Definition of terms in question
= Apply the terms in the question to the case study
= Give advantages and disadvantages
= Come to a conclusion; then evaluate by saying "however blah, blah, blah"

Yeh

Right, i've started this question, but i'm a tiny bit stuck, lol! Do ye have any ideas what else could be mentioned in the answer:

7. The Tussauds Group is dominant in the UK leisure market, explain how they could be seen to be a monopoly (7 marks)

A monopoly is where there is only one supplier of a good or service. A pure or perfect monopoly is when the business has 100% of the market, and in law, a business has "monopoly power" when they have over 25% of the market