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    Hey guys, I couldn't find a thread for this exam done at 1:30 and was wondering what answers other people got?
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    (Original post by Manc123)
    Hey guys, I couldn't find a thread for this exam done at 1:30 and was wondering what answers other people got?
    Market size £1,075,000
    quantity 75 items
    £535 for the other part!
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    i got market size something around 350,000 ish cant quite remember then 75 and 535 and 16£
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    I was doing a resit from last year, so I sat the paper on the old specification, so I don't know how different the new specification or paper is, but i was allowed 1h15 in total and I had no extra time.

    1c) £1,075,000
    1d) £525
    1ei) 75 Units
    1eii) £16

    Q)1 advantage of temporary staff 1 disadvantage
    A) I talked about the seasonal demand as shown in figure 3, ability to fire and hire staff as and when needed to cut costs in low demand periods. then for my disadvantage I talked about how temporary staff don't feel as connected to the business so won't care about its success as much so motivation and productivity might be lower for temporary staff, and how when a business like Liza's employ's so few employees, each employee needs to be working their hardest for the business to succeed.

    Q) why might the income budget be unreliable
    A) I talked about how she has no past experience with running a business plus no figures from previous years to base these numbers off of. Also people can lie in questionnaires, the seasonal variations that she copied from her coffee shop friend might be different cause they operate in different markets and sell different products.

    Q) Location A or B?
    A) Location B has less competitors near it. B is close to a car park for accessibility. right between car park and beach so people will walk past the shop on their way to the beach, this means more passers by. B is right next to the beach with in figure 1 shows it gets 80% of the tourist visits. location A, is with other shops, so more passers by, but only 40% of the visit in figure 1. location B is by the zoo as well which gets 15% oh the visits. A has more competition. overall she was right to choose location B

    Q) Franchise or go it alone?
    A) The franchise is well known for quality and therefore has a positive brand image that Liza can use, which will reduce the start up risk of her business as there is already an existing customer base. Ottermouth attracts young families to go and visit it, and the franchises products are vey popular with younger people, so the two together are a perfect match, and show equal higher sales. figure 3 shows that with the franchise she will make £10,000 more in profit over the four quarters than she would on her own. with the franchise she can hire more staff, and take more time off so she can see her kids more, which is what she wants and suits her lifestyle. Going it alone she gets to be her own boss, which is good as she has complete control. That was the last question, what points did you guys get? similar? or have completely messed this up
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    it was dreadful
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    Anyonr know the breakdown of marks for each question?
 
 
 
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