A business case contains the following in its management summary:
'The recommended option meets the new regulatory requirements. It will ensure our products remain in the marketplace and be the first to receive compliance certification, which will enhance our reputation as the market leader
New business policies and processes will be introduced, which may temporarily reduce productivity. The action plan will be communicated to all staff at the next monthly meeting?
Which TWO categories of costs and benefits are described in this extract?
A cost is an expenditure or sacrifice incurred or expected to be incurred as a result of a business change. A benefit is an advantage or improvement that is gained or expected to be gained as a result of a business change. Costs and benefits can be classified as tangible or intangible, depending on whether they can be measured in monetary terms or not. Therefore, options B and D are correct answers, as they describe intangible costs and benefits that are not easily quantified or valued. Intangible costs include the temporary reduction in productivity due to the introduction of new business policies and processes. Intangible benefits include the enhancement of the company's reputation as the market leader due to being the first to receive compliance certification. Option A is not a correct answer, as tangible costs are not described in the extract. Tangible costs are those that can be measured in monetary terms, such as the cost of purchasing new equipment or hiring new staff. Option C is not a correct answer, as tangible benefits are not described in the extract. Tangible benefits are those that can be measured in monetary terms, such as the increase in revenue or decrease in expenses.
EcoBags is a company that designs and makes eco-friendly shopping bags foe various clients An Internal analysis of the business has revealed the following information about the company.
a) Recent investment in new machinery will enable the company to continue its innovation programme
b) Feedback from customers and an Increase in sales suggests that Leo Bugs is recognised as a quality brand
c) The number of staff currently employed in the company is sufficient to meet expected future growth
d) The ability of EcoBags to respond quickly to new market demands has earned it an innovation award.
e) The company has significant retained profits, which will help fund the innovation programme.
Which of these would be considered as 'tangible' resources in a resource audit?
A resource audit is a technique for identifying and evaluating the resources that an organisation has or needs to achieve its objectives. It helps to assess the availability and quality of an organisation's resources, such as human, physical, financial and intangible resources. Therefore, option C is the correct answer, as it identifies which of these would be considered as 'tangible' resources in a resource audit. Tangible resources are resources that have physical existence and can be seen or touched by human senses. Examples of tangible resources are machinery, equipment, buildings, materials, money etc. Option A identifies 'a' (recent investment in new machinery), 'c' (the number of staff currently employed in the company) and 'e' (the company has significant retained profits) as tangible resources in a resource audit. These are correct examples of tangible resources in a resource audit, as they have physical existence and can be seen or touched by human senses. Option B identifies 'b' (feedback from customers and an increase in sales), 'c' (the number of staff currently employed in the company) and 'e' (the company has significant retained profits) as tangible resources in a resource audit. These are incorrect examples of tangible resources in a resource audit, as 'b' (feedback from customers and an increase in sales) is an intangible resource, not a tangible resource. Intangible resources are resources that have no physical existence and cannot be seen or touched by human senses. Examples of intangible resources are reputation, brand, knowledge, skills etc. Option D identifies 'c' (the number of staff currently employed in the company), 'd' (the ability of EcoBags to respond quickly to new market demands) and 'e' (the company has significant retained profits) as tangible resources in a resource audit. These are incorrect examples of tangible resources in a resource audit, as 'd' (the ability of EcoBags to respond quickly to new market demands) is an intangible resource, not a tangible resource.
Imani has been asked to prepare a SWOT analysis for her company, which sells van insurance Her investigation has revealed that
The company is a UK-based company which sells insurance in the UK and Ireland. The recent increase in home shopping has led to a corresponding increase in delivery drivers and vehicles across both markets However, the call centre, which serves both markets, has not been able to deal with the large influx of calls this has resulted in It is unclear whether in the longer term the call centre capacity needs to be expanded due to customers moving to digital channels and new regulatory hurdles, following Brexit. to trading in Ireland.
Which THREE of the following SHOULD be included in the SWOT analysis?
A SWOT analysis is a technique for identifying and evaluating the strengths, weaknesses, opportunities and threats that affect an organisation or project. It helps to assess the internal and external factors that influence the performance and potential of the organisation or project. Therefore, options A, B and C are correct answers, as they should be included in the SWOT analysis for the company that sells van insurance. They describe different types of factors that affect the company's situation and prospects. Option A describes an opportunity, which is a favourable or advantageous circumstance or situation that arises from the external environment and that can be exploited to achieve the objectives of the organisation or project. An example of an opportunity is the increase in home shopping, which has led to an increase in delivery drivers and vehicles across both markets. This creates a potential demand for van insurance that the company can cater to. Option B describes a weakness, which is a negative or unfavourable characteristic or situation that arises from the internal environment and that can hinder or prevent the achievement of the objectives of the organisation or project. An example of a weakness is the inability of the call centre to deal with the large influx of calls, which may result in poor customer service, dissatisfaction and loss of business. Option C describes a threat, which is a harmful or adverse circumstance or situation that arises from the external environment and that can endanger or damage the achievement of the objectives of the organisation or project. An example of a threat is the new regulatory hurdles following Brexit, which may affect the company's ability to trade in Ireland and reduce its market share and revenue. Option D is not a correct answer, as strength is not a factor that has been discovered in the investigation for the SWOT analysis. A strength is a positive or favourable characteristic or situation that arises from the internal environment and that can facilitate or enhance the achievement of the objectives of the organisation or project. Option E is not a correct answer, as technology is not a type of factor that can be included in a SWOT analysis. Technology is an aspect of the external environment that can affect an organisation or project positively or negatively, depending on how it is used or adapted to.
Halliday Holdings is embarking on a programme to improve its customer experience On joining the programme. Natasha wants to gain an understanding of how its current brand is perceived
Which would be the BEST source of information for Natasha?
A brand is a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. A brand perception is how customers and potential customers view a brand based on their experiences, associations and impressions. Therefore, option A is the best choice, as independent industry websites are likely to provide unbiased and reliable information on how customers perceive different brands in the market. They may also include customer reviews, ratings and feedback that can help measure customer satisfaction and loyalty. Option B is not a good choice, as the company website is likely to provide biased and selective information on its own brand that may not reflect how customers actually perceive it. It may also omit negative aspects or criticisms that could affect its image or reputation. Option C is not a good choice, as the company's organisational structure is not relevant to its brand perception. It may show how the company is organised internally, but it does not indicate how customers view its products or services externally. Option D is not a good choice, as the company's complaints procedures are not sufficient to measure its brand perception. They may show how the company handles customer issues or problems, but they do not capture how customers feel about its overall quality or value.
A PESTLE analysis is being conducted for a small manufacturing company The following has been discovered.
The company's electricity provider is planning changes to the way in which electricity usage is calculated, it is likely that this will lead to increased electricity costs.
An amendment to the Data Protection Act has recently been introduced It states that information held about employees' payroll can now be held for more than six years, as long as the individual remains an employee
How will this information be categorised in the PESTLE analysis? Select the TWO that apply
A PESTLE analysis is a technique for identifying and evaluating the political, economic, social, technological, legal and environmental factors that affect an organisation or project. It helps to assess the opportunities and threats that arise from the external environment. Therefore, options A and B are correct answers, as they are categories of factors that can be included in a PESTLE analysis for a small manufacturing company. They describe different aspects of the external environment that influence the company's situation and prospects. Option A describes a legal factor, which is a factor related to laws, regulations, standards or policies that govern an organisation or project. An example of a legal factor is an amendment to the Data Protection Act, which affects how information about employees' payroll can be held by an organisation. Option B describes an economic factor, which is a factor related to money, markets, trade or resources that affect an organisation or project. An example of an economic factor is a change in electricity usage calculation by an electricity provider, which affects how much electricity costs for an organisation. Option C is not a correct answer, as political is not a factor that has been discovered in the investigation for the PESTLE analysis. A political factor is a factor related to government, politics, power or conflict that affect an organisation or project. Option D is not a correct answer, as technological is not a factor that has been discovered in the investigation for the PESTLE analysis. A technological factor is a factor related to science, innovation, invention or discovery that affect an organisation or project. Option E is not a correct answer, as environmental is not a factor that has been discovered in the investigation for the PESTLE analysis. An environmental factor is a factor related to nature, ecology, climate or geography that affect an organisation or project.