Legal Regulations & Societal Attitudes
Identify one legal or government regulation affecting businesses in the planning stage.
Marking Guide: 1 mark: Correctly identifying one legal or government regulation (minimum wage laws, workplace safety laws, consumer laws)
Identify one economic condition
Marking Guide: 1 mark: Correctly identifying interest rates, consumer confidence, employment levels, tax rate
Identify one example of a global consideration affecting businesses.
Marking Guide:
1 mark: Correctly identifying one global consideration (exchange rates, overseas competitors, online sales)
Identify one operating factor related to customers.
Marking Guide: 1 mark: Correctly identifying customer needs and expectations
Identify one role of suppliers in business operations.
Marking Guide: 1 mark: Correctly identifying a supplier role (providing materials, stock or resources)
State one example of a societal attitude or trend that may affect businesses.
Marking Guide: 1 mark: Correctly stating one societal attitude or trend (environmental sustainability, online shopping, healthy lifestyles)
State one example of technological developments businesses may adopt.
Marking Guide:
1 mark: Correctly stating one technological development (AI, robotics, online ordering systems, apps)
Define what offshoring of labour means.
Marking Guide:
1 mark: Correctly stating that jobs or production are moved overseas to reduce costs
Define competitors are.
Marking Guide: 1 mark: Correctly stating that competitors are businesses selling similar products or services
State one example of a special interest group.
Marking Guide: 1 mark: Correctly stating one special interest group (environmental lobby groups, unions, business associations)
Explain how changes in societal attitudes may influence business planning.
Marking Guide:
1 mark: Identifying one societal attitude or trend (customers preferring environmentally friendly products)
1 mark: Explaining how this influences business planning (businesses may redesign products or packaging to attract customers)
Explain how low consumer confidence may affect businesses.
Marking Guide:
1 mark: Identifying low consumer confidence (customers worried about the economy)
1 mark: Explaining how this affects businesses (customers spend less money, reducing sales and profits)
Explain how environmentally sustainable practices may improve a business’s reputation.
Marking Guide:
1 mark: Identifying an environmentally sustainable practice (using recyclable packaging)
1 mark: Explaining how this improves reputation (customers may support businesses seen as environmentally responsible)
Explain how competitors’ behaviour may influence business planning.
Marking Guide:
1 mark: Identifying competitors’ behaviour (lowering prices or introducing new products)
1 mark: Explaining how this affects planning (businesses may change pricing, marketing or products to remain competitive)
Explain why supply chains are important to businesses.
Marking Guide:
1 mark: Identifying the role of supply chains (moving resources from suppliers to businesses)
1 mark: Explaining why this is important (efficient supply chains help businesses produce and deliver products on time)
Discuss one advantage and one disadvantage of government regulations for businesses.
Marking Guide:
1 mark: Explaining one advantage of government regulations (complying with food safety regulations)
1 mark: Explaining why this is an advantage (improves reputation and customer trust)
1 mark: Explaining one disadvantage of government regulations (additional compliance and training costs)
1 mark: Explaining why this is a disadvantage (higher costs may reduce profits)
Compare interest rates and employment levels as economic conditions affecting businesses.
Marking Guide:
1 mark: Explaining interest rates (higher interest rates increase borrowing costs)
1 mark: Explaining employment levels (higher employment increases consumer spending)
1 mark: Identifying a difference (interest rates affect borrowing whereas employment affects income levels)
1 mark: Explaining the significance of the difference (both conditions influence customer demand and business decisions differently)
Discuss one advantage and one disadvantage of overseas manufacture.
Marking Guide:
1 mark: Explaining one advantage of overseas manufacture (lower labour costs)
1 mark: Explaining why this is an advantage (reduced production costs may increase profits)
1 mark: Explaining one disadvantage of overseas manufacture (quality control may be harder to manage)
1 mark: Explaining why this is a disadvantage (poor quality products may reduce customer satisfaction)
Compare customer needs and competitors’ behaviour as operating factors.
Marking Guide:
1 mark: Explaining customer needs (customers expect quality products and good service)
1 mark: Explaining competitors’ behaviour (competitors may change prices or promotions)
1 mark: Identifying a difference (customers influence what businesses provide whereas competitors influence competitive strategies)
1 mark: Explaining the significance of the difference (businesses must satisfy customers while remaining competitive)
Discuss one advantage and one disadvantage of sourcing resources globally.
Marking Guide:
1 mark: Explaining one advantage of global sourcing (lower material costs overseas)
1 mark: Explaining why this is an advantage (reduced costs may increase profits)
1 mark: Explaining one disadvantage of global sourcing (shipping delays or disruptions)
1 mark: Explaining why this is a disadvantage (delays may interrupt production and reduce customer satisfaction)
Analyse how both legal regulations and societal attitudes can influence business success.
Marking Guide:
1 mark: Identifying one legal regulation (consumer protection laws)
1 mark: Explaining how this affects business success (following laws avoids fines and improves trust)
1 mark: Identifying one societal attitude (customers valuing sustainability)
1 mark: Explaining how this affects business success (sustainable products may increase sales) 1 mark: Analysing the combined impact on business performance (businesses that comply with laws and adapt to trends are more likely to maintain reputation and customer support)
Evaluate whether investing in new technology is always beneficial for businesses.
Marking Guide:
1 mark: Explaining one advantage of investing in technology (automation improves efficiency)
1 mark: Explaining why this is an advantage (faster production may reduce costs and increase output)
1 mark: Explaining one disadvantage of investing in technology (technology can be expensive to purchase and maintain)
1 mark: Explaining why this is a disadvantage (high costs may reduce short-term profits)
1 mark: Providing a supported judgement (technology is often beneficial if the long-term improvements outweigh the costs)
Analyse how global considerations and CSR may influence business planning decisions.
Marking Guide:
1 mark: Identifying one global consideration (online sales to overseas markets)
1 mark: Explaining how this affects planning (businesses may expand distribution and marketing internationally)
1 mark: Identifying one CSR consideration (reducing environmental waste)
1 mark: Explaining how this affects planning (businesses may redesign packaging or processes)
1 mark: Analysing the relationship between these factors and planning (businesses must balance global growth opportunities with ethical and sustainable practices)
Evaluate the importance of understanding customer needs when planning a business.
Marking Guide:
1 mark: Explaining one advantage of understanding customer needs (products better match customer preferences)
1 mark: Explaining why this is beneficial (higher customer satisfaction may increase sales)
1 mark: Explaining one limitation of focusing on customer needs (customer preferences may change quickly)
1 mark: Explaining why this is a limitation (businesses may spend money changing products too often)
1 mark: Providing a supported judgement (understanding customer needs is important because it helps businesses remain competitive and relevant)
Analyse how suppliers and special interest groups may affect business planning.
Marking Guide:
1 mark: Identifying how suppliers affect businesses (suppliers influence resource availability and quality)
1 mark: Explaining how this affects planning (businesses may choose reliable suppliers to reduce delays)
1 mark: Identifying how special interest groups affect businesses (environmental groups may pressure businesses to reduce waste)
1 mark: Explaining how this affects planning (businesses may change policies or production methods)
1 mark: Analysing the combined impact on planning (businesses must balance efficient supply decisions with social expectations and reputation)