Unit 7 BTEC level 3 Business Questions with
Complete Solutions
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
,Boston matrix - dogs LOW market share
LOW market growth
little or no profit
frequency distribution The number of times a set of values occur and the spread of
occurrences over a range of situations
Measures of dispersion This is the term given to the spread of the dataset and there are
statistical methods for finding this out
standard deviation Means the amount that the values vary beyond the norm.
Quartiles Put the data in order of size, then divide the values into four equal parts
Percentiles Percentile scores range from the 1st through 99th percentile, indicating the
percentage of scores in the comparison group which are lower than the test taker's score
, Correlation coefficient a statistical index of the relationship between two things (from -1
to +1)
Economic trends Electronic data on economic trends are available from numerous sites
such as the office for national statistics
Market trends Identify the movement of the investment market over time. These trends
use financial data to forecast the direction for future investment by basing their predictions on
past performance and where to place investments.
Social trends The data collected is analysed by the ONS which provides info about the
demographic of the UK population which is them compared with that of European countries
and globally
7P'S Product, price, promotion, place, people, process and physical environment
Health and safety 1974 - Safely dispose of chemicals
- Using ear defenders around loud noise
Complete Solutions
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
,Boston matrix - dogs LOW market share
LOW market growth
little or no profit
frequency distribution The number of times a set of values occur and the spread of
occurrences over a range of situations
Measures of dispersion This is the term given to the spread of the dataset and there are
statistical methods for finding this out
standard deviation Means the amount that the values vary beyond the norm.
Quartiles Put the data in order of size, then divide the values into four equal parts
Percentiles Percentile scores range from the 1st through 99th percentile, indicating the
percentage of scores in the comparison group which are lower than the test taker's score
, Correlation coefficient a statistical index of the relationship between two things (from -1
to +1)
Economic trends Electronic data on economic trends are available from numerous sites
such as the office for national statistics
Market trends Identify the movement of the investment market over time. These trends
use financial data to forecast the direction for future investment by basing their predictions on
past performance and where to place investments.
Social trends The data collected is analysed by the ONS which provides info about the
demographic of the UK population which is them compared with that of European countries
and globally
7P'S Product, price, promotion, place, people, process and physical environment
Health and safety 1974 - Safely dispose of chemicals
- Using ear defenders around loud noise
