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Business Studies Unit 1 Jan 09 (Edexcel)
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sorry guys being unable to coop all these days was freakin maself preparin fo ma maths as i av both c1 nd c2 on 9th right after unit1..........
am preparin ma self 2nite fo many revision notes for unit 1 ........
gotta b awake all night nyways av prepared the related points for the
Q) how are the external variables affecting the companies being privatised ?
will post em soon
the question wiv being not good enough could also match wiv tha question above
as evident frm case that these companies failed to achieve the ultimate success
and a wicked thanx fo heybody to come up wiv a nice thought of question......
wat about the question how govt. will regulate these privatised companies. any one done wiv it.....
ok something i have gathered to start wiv ma revision
i request every1 from this thread to put as much effort u can cuz unit 1 is a great deal
so preparation ASAP will lead us a good turnover.....
its something from GCE EDEXCEL when they first started the business studies wiv the syllabus we r gonna sit for
The importance of the public and private sectors
of the economy. Nationalisation/ Privatisation.
(Should include not-for-profit sector).
Look at the role played by the entrepreneur, small, large,
local, regional, national and multinational
organisations.
What is an economy? Types of economy e.g.
market economies, planned economies and
mixed economies.
which economy does these privatised co. operate on. Evaluate thoroughly?
Look at Public sector organisations, services supplied by
the government, why are they important?
Explain the impact of privatisation and arguments for and
against. How are privatised firms regulated?
Look at organisations within the private sector, why are they
important?
What competition do businesses face and how
does this affect their activities and structure?
What are the various levels of competition?
Why are a companys objectives important in
drawing up strategies and measuring
performance?
Objectives might include:
• Profit maximisation
• Sales maximisation
• Customer satisfaction
• Quality management
• Rationalisation
Diversification
Talk about planning, short medium and long term tactical and
strategic.
if u can look at the past papers u will see a very common question about profit.
its importance.
What steps will the company go through to
achieve its objectives?
1. A mission statement.
2. Aims - long and short term aims.
3. Process - strategic objectives to achieve
aims. Alternative strategies, consequences.
How the choice is made. Responsibilities.
4. Control - Setting performance criteria, how
it is measured, who measures it, monitor.
am preparin ma self 2nite fo many revision notes for unit 1 ........
gotta b awake all night nyways av prepared the related points for the
Q) how are the external variables affecting the companies being privatised ?
will post em soon
the question wiv being not good enough could also match wiv tha question above
as evident frm case that these companies failed to achieve the ultimate success
and a wicked thanx fo heybody to come up wiv a nice thought of question......
wat about the question how govt. will regulate these privatised companies. any one done wiv it.....
ok something i have gathered to start wiv ma revision
i request every1 from this thread to put as much effort u can cuz unit 1 is a great deal
so preparation ASAP will lead us a good turnover.....
its something from GCE EDEXCEL when they first started the business studies wiv the syllabus we r gonna sit for
The importance of the public and private sectors
of the economy. Nationalisation/ Privatisation.
(Should include not-for-profit sector).
Look at the role played by the entrepreneur, small, large,
local, regional, national and multinational
organisations.
What is an economy? Types of economy e.g.
market economies, planned economies and
mixed economies.
which economy does these privatised co. operate on. Evaluate thoroughly?
Look at Public sector organisations, services supplied by
the government, why are they important?
Explain the impact of privatisation and arguments for and
against. How are privatised firms regulated?
Look at organisations within the private sector, why are they
important?
What competition do businesses face and how
does this affect their activities and structure?
What are the various levels of competition?
Why are a companys objectives important in
drawing up strategies and measuring
performance?
Objectives might include:
• Profit maximisation
• Sales maximisation
• Customer satisfaction
• Quality management
• Rationalisation
Diversification
Talk about planning, short medium and long term tactical and
strategic.
if u can look at the past papers u will see a very common question about profit.
its importance.
What steps will the company go through to
achieve its objectives?
1. A mission statement.
2. Aims - long and short term aims.
3. Process - strategic objectives to achieve
aims. Alternative strategies, consequences.
How the choice is made. Responsibilities.
4. Control - Setting performance criteria, how
it is measured, who measures it, monitor.
this is for the fabulous fahim
i need to know
are any questions that may explode from here........
1-
Legislation as both a
constraint and a
framework in which
business operates.
Sllabus says to look at---Look at EU legislation; include Social Chapter,
ERM, EMU Common Agricultural Policy, and
regional fund.
2-The state as a regulator,
as a provider of
assistance to business
and as a customer.
Impact of change in the
political environment.
Syllabus says to look at
Government policies affecting businesses,
include, monetary, fiscal, exchange rate policy,
regional and urban policy, industrial policy and
incomes policy.
How does a change of government affect policies
and therefore business?
All these for now..............
counting on ya....
i need to know
are any questions that may explode from here........
1-
Legislation as both a
constraint and a
framework in which
business operates.
Sllabus says to look at---Look at EU legislation; include Social Chapter,
ERM, EMU Common Agricultural Policy, and
regional fund.
2-The state as a regulator,
as a provider of
assistance to business
and as a customer.
Impact of change in the
political environment.
Syllabus says to look at
Government policies affecting businesses,
include, monetary, fiscal, exchange rate policy,
regional and urban policy, industrial policy and
incomes policy.
How does a change of government affect policies
and therefore business?
All these for now..............
counting on ya....
aryt, i think it was pretty good or crazy there to point out the whole syllabus...there are some stuffs that we may not see....and as for the regulation question..ive got an answer here, but its still in fahims mail box waiting for his approval...but since we are all running out of tym i will jus post it, later if fahim feels the need to correct it ..its all his..
Q-Assess why the government needs to regulate the newly privatized companies in the UK.(possible of 7 marks)
ANS-
Regulations are laws imposed by the government for the welfare of the people.
After the privatization, the EU government has increased the water supply, electricity, sewerage, rails and bus fairs.
In the UK the companies that have been privatized are mainly the utility companies like the railway coal mining, gas, electricity etc that can affect the welfare of the general public which is the main concern of the government. When privatized these companies may attempt to exploit their customers and charge more as a compensation for their lack of enough fund for operations which is probably the result of their inefficiency and their inability to earn enough profit leaving their companies uncompetitive. In cases as such the government has to intervene for the sake of the general public and regulate the newly privatized firms making sure that they are providing a fair deal to their customers in terms of quality and charges. Also, they have to make sure that these companies are meeting the standards provided by them while serving the general public. As for these firms, the government can help them out by supporting them with subsidies in order to keep them competitive and also, to prevent unemployment which could further effect the welfare of the public.. However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying these subsidies using the taxes paid by the general public, as they may not want to encourage this. Nevertheless, these newly privatized firms should understand that only the government subsidy won’t help them, they will have to act on improving their way of work in order to stand on their own.
When concluding, it can be said that, even though the government will be momentarily relieved of some burden to certain extent, they will not be able to continue supporting these companies with subsidies for long term, therefore the newly privatized companies will have to start handling the matters on their own, improve their management and work on changing their corporate culture from that of public welfare to profit motive.
Q-Assess why the government needs to regulate the newly privatized companies in the UK.(possible of 7 marks)
ANS-
Regulations are laws imposed by the government for the welfare of the people.
After the privatization, the EU government has increased the water supply, electricity, sewerage, rails and bus fairs.
In the UK the companies that have been privatized are mainly the utility companies like the railway coal mining, gas, electricity etc that can affect the welfare of the general public which is the main concern of the government. When privatized these companies may attempt to exploit their customers and charge more as a compensation for their lack of enough fund for operations which is probably the result of their inefficiency and their inability to earn enough profit leaving their companies uncompetitive. In cases as such the government has to intervene for the sake of the general public and regulate the newly privatized firms making sure that they are providing a fair deal to their customers in terms of quality and charges. Also, they have to make sure that these companies are meeting the standards provided by them while serving the general public. As for these firms, the government can help them out by supporting them with subsidies in order to keep them competitive and also, to prevent unemployment which could further effect the welfare of the public.. However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying these subsidies using the taxes paid by the general public, as they may not want to encourage this. Nevertheless, these newly privatized firms should understand that only the government subsidy won’t help them, they will have to act on improving their way of work in order to stand on their own.
When concluding, it can be said that, even though the government will be momentarily relieved of some burden to certain extent, they will not be able to continue supporting these companies with subsidies for long term, therefore the newly privatized companies will have to start handling the matters on their own, improve their management and work on changing their corporate culture from that of public welfare to profit motive.
at the moment um all hooked up developing the points that fahim gave into structured answers..as soon as um done it will be up here...anyone else with anyother questions pleeesse post it.... am stilll waiting for fahim's sample answer.. actually um wating for fahim to show up ON THIS ROOM OR IN MY MAIL BOXXXXXXXXXXXXXXXXXXXXXX>>>>>>>>>>>. fahimmmmmmmmmm....where art thou?
dhur! it seems um the only one whoz depending on this forum da most....anyways..another question for fahim...........
number one of the predicted quesiton where we are talking about the difference in the objectives that could have occured if the vin and spirit were a public and private sector firms.....we talk about profit maximization, we talk about social responsbility, but....the question..where does survival come from? isnt vin and spritin doing awesome already? and if it were to be sold off to bacardi, bacardi is also very well off isnt it? another thing, in the profit maximization point ...for analysis, we say that if that if in the private sector, vin and spirit's price would increase...as application,i put in that, wen it goes private the government expects job preservation and so their costs increase and in order to compensate thta they may attempt to raise theri price..is that rite? if i post the developed version of you points in this forum will you make sure its okay?
number one of the predicted quesiton where we are talking about the difference in the objectives that could have occured if the vin and spirit were a public and private sector firms.....we talk about profit maximization, we talk about social responsbility, but....the question..where does survival come from? isnt vin and spritin doing awesome already? and if it were to be sold off to bacardi, bacardi is also very well off isnt it? another thing, in the profit maximization point ...for analysis, we say that if that if in the private sector, vin and spirit's price would increase...as application,i put in that, wen it goes private the government expects job preservation and so their costs increase and in order to compensate thta they may attempt to raise theri price..is that rite? if i post the developed version of you points in this forum will you make sure its okay?
Nes
dhur! it seems um the only one whoz depending on this forum da most....anyways..another question for fahim...........
number one of the predicted quesiton where we are talking about the difference in the objectives that could have occured if the vin and spirit were a public and private sector firms.....we talk about profit maximization, we talk about social responsbility, but....the question..where does survival come from? isnt vin and spritin doing awesome already? and if it were to be sold off to bacardi, bacardi is also very well off isnt it? another thing, in the profit maximization point ...for analysis, we say that if that if in the private sector, vin and spirit's price would increase...as application,i put in that, wen it goes private the government expects job preservation and so their costs increase and in order to compensate thta they may attempt to raise theri price..is that rite? if i post the developed version of you points in this forum will you make sure its okay?
number one of the predicted quesiton where we are talking about the difference in the objectives that could have occured if the vin and spirit were a public and private sector firms.....we talk about profit maximization, we talk about social responsbility, but....the question..where does survival come from? isnt vin and spritin doing awesome already? and if it were to be sold off to bacardi, bacardi is also very well off isnt it? another thing, in the profit maximization point ...for analysis, we say that if that if in the private sector, vin and spirit's price would increase...as application,i put in that, wen it goes private the government expects job preservation and so their costs increase and in order to compensate thta they may attempt to raise theri price..is that rite? if i post the developed version of you points in this forum will you make sure its okay?
Nes its boxing day.. Its holiday in uk.. Everyone is having a break lol.. I thought I'd check on this..
Vin and Gin was government-owned. It had a monopoly in its market but lost its monopoly on the production, wholesale, export, and import of alcoholic beverages in Sweden in 1995. After the end of the liquor monopoly, which was taken down upon Sweden's entry into the European Union in 1995, V & S was forced to restructure its operations, cutting staff and streamlining its product positioning.
"France's Pernod Ricard" acquired the brand for $6.05 billion and he said that V&S was a truly iconic brand. The reason for him purchasing it was because the brand had global growth potential. V&S is already well known for Absolut Vodka worldwide.
Survival comes into play as it is in a market which is very competitive to trade in. They are the world's number six biggest-selling alcoholic beverage brand. To think they had a monopoly (everything a business would want) to dropping down to 6th shows that it is tough to survive in the private sector.
I don't think your point on prices increasing is right though.. Because if they raise their prices, consumers will turn to V&S's competitors. Not something V&S would want.
Contrast between private and public sector:
Private sector-
- survival (keep up to date with competitors)
- social issues
- profit
- image and reputation
- market power/ market share
- sales/ sales revenue
- efficiency
-quality
- innovation
- satisfy stakeholders
public sector-
-accessible to all (provide a service to the public)
- quality
- affordability
- equality
- operates in the interest of the customers
The contrast shows how much more responsibility comes in the private sector
Thank you Jitman for the informative post.
@Nes, you have to remember that while V&S was a national firm, it did not account for the public's interest. It had a profit motive unlike most national firms. Which government in this world will make alcohol accessible to all? It's a luxury good, therefore its only for people who can afford it. Price rises won't be substantial, and will be more or less the same as the competition's.
And, I believe this line is not appropriate for your answer :
"However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying "
They will hesitate, but surely not for the reason you stated.
Also, we are supposed to assume that these companies havent been privatised yet right? So that means we can actually use real benefits to these firms after privatisation as points for our answers.
@Nes, you have to remember that while V&S was a national firm, it did not account for the public's interest. It had a profit motive unlike most national firms. Which government in this world will make alcohol accessible to all? It's a luxury good, therefore its only for people who can afford it. Price rises won't be substantial, and will be more or less the same as the competition's.
And, I believe this line is not appropriate for your answer :
"However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying "
They will hesitate, but surely not for the reason you stated.
Also, we are supposed to assume that these companies havent been privatised yet right? So that means we can actually use real benefits to these firms after privatisation as points for our answers.
@Jitman, your question about the line 10 of the case, I think flotation refers to the initial public offering of the firms. You probably have the answer by now, but I thought I'd still post it.
aayman_farzand
Thank you Jitman for the informative post.
@Nes, you have to remember that while V&S was a national firm, it did not account for the public's interest. It had a profit motive unlike most national firms. Which government in this world will make alcohol accessible to all? It's a luxury good, therefore its only for people who can afford it. Price rises won't be substantial, and will be more or less the same as the competition's.
And, I believe this line is not appropriate for your answer :
"However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying "
They will hesitate, but surely not for the reason you stated.
Also, we are supposed to assume that these companies havent been privatised yet right? So that means we can actually use real benefits to these firms after privatisation as points for our answers.
@Nes, you have to remember that while V&S was a national firm, it did not account for the public's interest. It had a profit motive unlike most national firms. Which government in this world will make alcohol accessible to all? It's a luxury good, therefore its only for people who can afford it. Price rises won't be substantial, and will be more or less the same as the competition's.
And, I believe this line is not appropriate for your answer :
"However, their performance while they were nationalized and under government supervision was not good enough as those of existing privatized ones and so, their may be hesitancy when it comes to paying "
They will hesitate, but surely not for the reason you stated.
Also, we are supposed to assume that these companies havent been privatised yet right? So that means we can actually use real benefits to these firms after privatisation as points for our answers.
haeloe ayman.
.if you read the uk case at the beginin it wa s written tat they did privatise these utility companies to get fund for their reformations....and they also mentionef that wen these firms were national, they were of government's concern..and were run by government subsidy. if you read my answer, its for the UK. the general public, however, will not want to pay more tax this way or that, and when their taxes increase because government is providing subsidy to these newly privatised companies which by the way, werent even doing well before privatisation they will show certain amount of hesitancy. this was actually suggested by our teacher so i m quite sure about it, if you see the UK case only...i ges i forgot to mention in the question that its for UK but i did start off talking about UK...and the stuff u said about vin and spirit having profit motive even before their nationalization is not written in the case...., are we suppose to take into consideration facts out of the case?
the UK ones HAVE been privatised, the swedish ones HAVENT
Yes I have read the case, but the way you say it, it sounds like "Amra subsidy dibo na karon ora amader theke bhalo kaaj kortese" (sorry I had to bring bengali into this). You should say something like, the government won't provide any form of subsidy until there is probable cause that it will harm the public, and obviously the amount subsidised will be lower than when it was state-owned.
Also, the profit-motive for V&S isn't mentioned, but they aren't in the market for a social service either. There's nothing wrong with a government firm having a profit motive.
V&S is already in the US market, and its still state-owned (according to the case). They wouldn't have entered the US if it was like every other state-owned firm.
So even though its not mentioned, there are clear signs that V&S did operate as a private firm would've
Also, the profit-motive for V&S isn't mentioned, but they aren't in the market for a social service either. There's nothing wrong with a government firm having a profit motive.
V&S is already in the US market, and its still state-owned (according to the case). They wouldn't have entered the US if it was like every other state-owned firm.
So even though its not mentioned, there are clear signs that V&S did operate as a private firm would've
ryt guys....
lets gainsome knowledge out of the case nd see how we can help for our level 3 answers............
sorry its only for the UK part...... help me wiv some swedish part if ya all av any .... thanx
lets gainsome knowledge out of the case nd see how we can help for our level 3 answers............
sorry its only for the UK part...... help me wiv some swedish part if ya all av any .... thanx
crazymujib
ryt guys....
lets gainsome knowledge out of the case nd see how we can help for our level 3 answers............
sorry its only for the UK part...... help me wiv some swedish part if ya all av any .... thanx
lets gainsome knowledge out of the case nd see how we can help for our level 3 answers............
sorry its only for the UK part...... help me wiv some swedish part if ya all av any .... thanx
Its not that relevant. It drifts off the issue of privatisation in the uk.. I've read it before.. First few pages are ok.. Then its just boring
http://www.johnkay.com/political/249
Erm Nes I just read a lot of stuff. I've read stuff about V&S so even if the case study is of 2007, I know the future of the company. So I think reading outside the case study is not a bad idea. It can help in writing the answer to a question. Oh and it impresses examiners of your broader knowledge
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