past paper 2s

Question 1

method to make more sustainable packaging

Answer 1

• more ethical/sustainable suppliers // reduing packaging/ more recyclable
• businesses paying mroe

Question 2

retained profit as a source of finance advantages

Answer 2

• no interest = low costs
• quick and conveninet as easy access to your own money -> easier for business to expand -> quciker expanison -> sooner profits

Question 3

retained profits as a source of finance disadvantages

Answer 3

• not available for any unforseen problems/other opportunities if spending all of it -> possible other sources like loan with interest / missed opportunities -> less profit + less growth

Question 4

logistics means

Answer 4

• organisation and management within a business of transport of raw materials and goods
• supply decisions impact: costs, business reputation, customer satisfaction

Question 5

procurement means

Answer 5

getting right supplies from right suppliers

Question 6

advantage of good logistics (and procurement)

Answer 6

• quicker production = lower costs
• good quality and timing of delivery = increases reputation because business is seen as more reliable -> loyal and returning customers -> more profit
• effective and quick delivery = customer staisfaction

Question 7

disdvantage of bad logistics (and procuement)

Answer 7

• delays can cost businesses lots of money (sales)
• bad timing and quality = decreases reputation
• slow delivery = decreases customer satisfaction

Question 8

multinational company

Answer 8

a bsuiness that operates in more than one country

Question 9

to what extent does a takeover increase profits

Answer 9

• reduces competition
• forced itno reducing its control over the market which undoes positives of takeover - basically pointless. can be difficult process off being investigated -> loss of focus, decrease in efficeincy. may not get your money back
• expensive