Year 12s: what will be the first way you research your future options? >>

A level business

Please could someone give me a few pointers of what I could include it my answer to this question:

Maria Allen aims to reach sales of £500 000 by the end of the year. To achieve this she could focus on cost minimisation or ethical sourcing. Evaluate these 2 options and recommend which option could help her achieve her sales target?

Thanks, much appreciated.

Reply 1

niamhdoesmaths

Moved to Business study help :smile:

Reply 2

X_Hope_X

Original post by Protostar

Moved to Business study help :smile:

Thank you 😊

Reply 3

Juno

Original post by X_Hope_X

Define both of the terms.
Then think of the advantages of each of these. With cost minimisation, she's got lower costs and could therefore either reduce prices to sell more, or make more profit on each item she does sell. With ethical sourcing, she could market it as such and it might open up new sales for ethical consumers.
Then think of the disadvantages. With cost minimisation, there's the possibility that quality will be lower and so customers might not be as happy. With ethical sourcing, the products might take longer to be produced, or might not be available (can you get ethical custard powder? What about an ethical mobile phone?).
Then think of which one you think would be best.