business studies page 21-30

• What is an outdated method of communication mentioned?

  Carrier pigeon service
• How has technology changed business operations?

  • Improved speed of processes
  • Enabled instant communication (e.g., emails)
  • Reduced man-hours for tasks
• What is a downside of long-term adaptation to technology?

  It can be more expensive than before
• What is e-commerce?

  Buying and selling online
• How do firms benefit from e-commerce?

  They can reach wider markets
• What adaptations have firms made for e-commerce?

  • Built websites
  • Employed IT specialists
  • Developed distribution systems
• What are some digital communication methods firms use with stakeholders?

  • Social media for advertising and feedback
  • Websites for global communication and service
  • Email for quick personal and mass communication
  • Blogs for shareholder updates
  • Instant messaging for information sharing
  • Live chat for customer service
  • Video calls for meetings
• Why do businesses need to adapt to new communication methods?

  Customers expect instant information access
• What are ethics in a business context?

  Moral principles of right and wrong
• What do many firms develop to ensure ethical behavior?

  Ethical policies and practices
• How do ethical treatment of employees differ in the UK compared to other countries?

  UK firms have different ethical standards
• What is an example of ethical treatment in business?

  Rewarding staff fairly
• What must firms follow when providing products?

  Strict codes of practice
• What are some ethical considerations for businesses?

  Safety, honesty, and privacy
• What are the potential costs of ethical policies for firms?

  Higher labor costs and material prices
• How can ethical policies affect a firm's profitability?

  They may reduce profit margins
• What might happen if a firm emphasizes its ethical policies?

  It could gain customers and increase profits
• What are the pros and cons of acting ethically in business?

  Pros:

  • Positive brand image
  • Increased customer loyalty
  • Potential for higher productivity

  
  

  Cons:

  • Higher operational costs
  • Potentially lower profit margins
  • Difficulty in sourcing ethical materials
• What does being a "green" business involve?

  Reducing environmental impact
• How can businesses reduce their environmental impact?

  • Reduce packaging
  • Recycle materials
  • Encourage car share and cycling
  • Dispose of hazardous waste properly
  • Use efficient machinery
  • Reduce noise pollution
• What does sustainability mean for businesses?

  Working without damaging the Earth
• What is resource depletion?

  Using resources faster than they can be replaced
• What is a consequence of global warming?

  Rising sea levels
• How are firms adapting to environmental concerns?

  Producing less carbon dioxide
• What is a potential drawback of being environmentally friendly?

  It can be expensive to implement
• How does unemployment affect businesses?

  It can reduce consumer spending
• What is unemployment?

  People able to work but can't find jobs
• What was the unemployment rate in the UK in 2010?

  About 2.5 million unemployed
• How can firms benefit from high unemployment?

  They can pay lower wages
• What can happen to sales in areas of high unemployment?

  Sales can fall due to low demand
• How does unemployment affect consumer spending?

  Less money to spend leads to lower demand
• What are the effects of unemployment on businesses?

  • Reduced consumer spending
  • Potential for lower wages
  • Difficulty in filling jobs
  • Decreased demand for products
• What is the formula for density?

  $\rho =$$\frac{m}{V}$
• What units are used for density?

  Kilograms per metre cubed (kg/m³)
• How does density relate to atomic spacing in matter?

  Density depends on the spacing of atoms
• How do the densities of solids and liquids compare?

  Liquids usually have lower density than solids
• What is the main exception to the density rule between solids and liquids?

  Ice has a lower density than water
• Why do gases have a lower density than solids and liquids?

  Gases have increased atomic spacing and energy
• What happens to mass during a change of state?

  Mass is conserved during a change of state
• If 20g of liquid evaporates, how much does the gas weigh?

  20g