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Running a business activity in a community context · Part 3 of 3
9 exam-style questions with model answers, plus 15 quick multi-choice questions — every question on this part of the standard, grouped by the 3 pages of notes they come from.
Write a full answer before you reveal the model one. That comparison is where the learning happens.
State FOUR things a group should record while carrying out cycle one, and explain why each is needed.
Explain why a group should keep a daily log during cycle one, and what happens if they do not.
Halfway through cycle one, a group realises its price is too high and sales are poor. Some members want to cut the price immediately; others say the plan must be followed.
Justify, with TWO reasons, what the group should do.
Explain what a review requires in this standard, and state TWO things a group would compare.
In cycle one a group sold 63 of the 80 units it produced. Six customers were turned away on Tuesday and stock ran out early on Thursday, while Wednesday sales were slow.
Explain what this evidence shows and give a reasoned refinement.
A group's review lists eleven changes for cycle two.
Discuss the problem this creates, and justify how the group should decide what to refine.
Explain what the in-depth review compares, and why this is different from the first review.
A group's refinement — taking pre-orders — reduced unsold stock but did not increase total sales.
Explain how the group should review this refinement.
After two cycles, a group's activity is running well.
Discuss what a refinement of the business plan for the future should contain, and why this step matters.