BTEC LEVEL 3 BUSINESS UPDATED EXAM SCRIPT
QUESTIONS AND SOLUTIONS RATED A+
✔✔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
✔✔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
- making sure fire hazards are kept to a minimum
✔✔Data protection 1998 - ✔✔This act requires that personal data is not shared without
the permission of the individual it relates to. Eight principles:
1. Fairly and lawfully used
2. Used for legitimate purposes
3. Adequate and up to date
4. Not kept for longer than necessary
5. Used in line with your rights
6. Secure
7. Not transferred to other countries without adequate permission
✔✔Employee rights act 1996 - ✔✔- Requirement to publish gender pay gaps
- National living wage
- Statutory paternal and sickness pay rates
- Protection for apprentices
- Illegal working
✔✔Consumer rights act 2015 - ✔✔Imposed set rules for:
- Refunds and timeframes
- Remediation options
- Replacements and repairs
- Additional items sold or provided with the item of interest
- Pre-contract info
✔✔Quality control (QC) - ✔✔- How the quality of products and services are controlled
through a series of consistent monitoring processes.
- In house set of procedures to check the quality is as they expect
QUESTIONS AND SOLUTIONS RATED A+
✔✔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
✔✔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
- making sure fire hazards are kept to a minimum
✔✔Data protection 1998 - ✔✔This act requires that personal data is not shared without
the permission of the individual it relates to. Eight principles:
1. Fairly and lawfully used
2. Used for legitimate purposes
3. Adequate and up to date
4. Not kept for longer than necessary
5. Used in line with your rights
6. Secure
7. Not transferred to other countries without adequate permission
✔✔Employee rights act 1996 - ✔✔- Requirement to publish gender pay gaps
- National living wage
- Statutory paternal and sickness pay rates
- Protection for apprentices
- Illegal working
✔✔Consumer rights act 2015 - ✔✔Imposed set rules for:
- Refunds and timeframes
- Remediation options
- Replacements and repairs
- Additional items sold or provided with the item of interest
- Pre-contract info
✔✔Quality control (QC) - ✔✔- How the quality of products and services are controlled
through a series of consistent monitoring processes.
- In house set of procedures to check the quality is as they expect
