BTEC Level 3 Business -Unit 7 | Exam QUESTIONS
with Verified 100% Correct Answers| Latest
2024/2025 update
Shows a hierarchy of responsibilities and authority showing who is responsible for what
and who has authority to make decisions regarding business operations -
✔✔Hierarchical Structure
- Previous market research
- Trade journals
- Websites
- Books and newspapers
- Census data and public records - ✔✔Secondary research sources
Info should be kept secure in accordance with the nature and sensitivity of that
information. There is a legal requirement to store info securely and there are rules
dictating how info is stored and for what period of time - ✔✔Security of information
It is vital businesses are up to date with the legal requirements around data storage.
Data protection act 1998 is the main legislation they must follow - ✔✔Legislative
Regulatory and ethical issues - ✔✔Businesses will need to ensure they are frequently
monitoring impending changes to any legislation or regulation
Porters 5 forces - ✔✔1. Existing competitive rivalry between suppliers
2. Threat of new entrants
3. Bargaining power of buyers
, 4. Power of suppliers
5. Threat of substitute products
5C'S - ✔✔1. Customer
2. Company
3. Climate
4. Collaborators
5. Competitors
Ansoff matrix - ✔✔This model is used to enable a business to make decisions about
the opportunity for growth in the market place
Boston matrix - ✔✔This model is used to aid the decisions making process by helping
predict where a business should invest in the future.
The matrix helps with analysis concerned with market trends and considering the
opportunities for increasing market share.
Boston matrix - cash cow - ✔✔A product that has high market share but in a low
growth market. They are successful, established products that won't require much
investment
Boston matrix - stars - ✔✔HIGH market share
HIGH market growth
needs investment to be profitable
Boston matrix - question marks - ✔✔low market share, high market growth, little to
no profit but could become a star or cash cows as they are in a growth market
with Verified 100% Correct Answers| Latest
2024/2025 update
Shows a hierarchy of responsibilities and authority showing who is responsible for what
and who has authority to make decisions regarding business operations -
✔✔Hierarchical Structure
- Previous market research
- Trade journals
- Websites
- Books and newspapers
- Census data and public records - ✔✔Secondary research sources
Info should be kept secure in accordance with the nature and sensitivity of that
information. There is a legal requirement to store info securely and there are rules
dictating how info is stored and for what period of time - ✔✔Security of information
It is vital businesses are up to date with the legal requirements around data storage.
Data protection act 1998 is the main legislation they must follow - ✔✔Legislative
Regulatory and ethical issues - ✔✔Businesses will need to ensure they are frequently
monitoring impending changes to any legislation or regulation
Porters 5 forces - ✔✔1. Existing competitive rivalry between suppliers
2. Threat of new entrants
3. Bargaining power of buyers
, 4. Power of suppliers
5. Threat of substitute products
5C'S - ✔✔1. Customer
2. Company
3. Climate
4. Collaborators
5. Competitors
Ansoff matrix - ✔✔This model is used to enable a business to make decisions about
the opportunity for growth in the market place
Boston matrix - ✔✔This model is used to aid the decisions making process by helping
predict where a business should invest in the future.
The matrix helps with analysis concerned with market trends and considering the
opportunities for increasing market share.
Boston matrix - cash cow - ✔✔A product that has high market share but in a low
growth market. They are successful, established products that won't require much
investment
Boston matrix - stars - ✔✔HIGH market share
HIGH market growth
needs investment to be profitable
Boston matrix - question marks - ✔✔low market share, high market growth, little to
no profit but could become a star or cash cows as they are in a growth market
