A level Business

• What fundamental exam skill is being discussed in this tutorial?

  Analysis in business studies
• Why might a student with extensive knowledge still receive a low grade?

  They lack higher order skills
• What higher order skills are assessed in business studies exams?

  Application, analysis, and evaluation
• How can knowledge help in multiple choice sections of exams?

  It helps understand the questions asked
• What is the importance of analysis in business studies exams?

  • Shows understanding of consequences
  • Explains impacts and ramifications
  • Connects knowledge to real-world scenarios
• What does analyzing something involve?

  Considering consequences and impacts
• What example is used to illustrate analysis?

  A student punching the teacher
• What are the consequences of the student punching the teacher?

  Exclusion, hospital visit, increased crime rates
• What does the exam board want to see in analysis?

  Chains of analysis, not scattered points
• How can one consequence lead to another in analysis?

  By showing a ripple effect of impacts
• What is a chain of analysis?

  One idea leads to another consequence
• What happens if the teacher's lucky shirt gets ruined?

  It affects their job interview confidence
• What could happen if the teacher chokes at the job interview?

  They might not get their dream job
• What is the outcome of losing the dream job?

  Inability to pay the mortgage
• What are the impacts of Tesco closing down stores?

  • Reduces operational costs
  • Affects employee job security
  • Changes customer access to services
• What is the term for when a business reduces its operations?

  Retrenchment
• What does rationalization in a business context mean?

  Streamlining operations for efficiency
• How might closing stores impact a supermarket's costs?

  It reduces costs due to fewer workers
• What is the focus of the case study mentioned?

  The strategy of Tesco supermarket
• What period is Tesco going through according to the case study?

  Rationalization or retrenchment
• What is one action Tesco is taking during this period?

  Closing down stores
• What is one impact of Tesco closing down 80 stores?

  Reduces Tesco's costs due to fewer workers
• How might remaining employees feel after store closures?

  Fearful and insecure about their jobs
• What could happen if employees feel insecure at Tesco?

  Employee morale may drop
• What is a potential consequence of decreased employee morale?

  Productivity may drop
• What happens if productivity drops at Tesco?

  Costs per worker may increase
• How does increased labor costs affect Tesco's competitiveness?

  Tesco becomes less competitive compared to rivals
• What might happen if Tesco is less price competitive?

  They may lose customers to rivals
• Which rivals might benefit from Tesco's loss of customers?

  Aldi and Lidl
• What could be a consequence of Aldi and Lidl gaining market share?

  Their revenues and profits may rise
• What might happen if Tesco's market share declines?

  Shareholders may receive disappointing dividends
• What choice do shareholders face if dividends are disappointing?

  To sell their shares or hold them
• What is the importance of building chains of analysis in exam answers?

  • Shows depth of understanding
  • Connects points logically
  • Maximizes marks in examinations
  • Demonstrates thorough analysis
• What is a recommended length for chains of analysis in exams?

  • Aim for chains that are five ideas long
  • Exhaust each point logically
  • Show detailed connections between impacts
• What is a common challenge students face during exams?

  • Time management against the clock
  • Need to answer within limited time
  • Balancing depth and breadth of analysis
• What should students practice to improve their exam performance?

  • Counting levels of analysis
  • Building chains of impacts
  • Practicing thorough analytical responses
• What is market segmentation?

  Dividing potential customers into groups
• Why do businesses segment their market?

  To identify profitable customer groups
• How might a t-shirt business segment its market by gender?

  By offering different shapes and colors
• What is a potential strategy for a moisturizer business targeting different genders?

  Using different packaging colors for genders