BusM SL

• This comprehensive Case Study Pack (CSP) has been produced to help students in their preparations for the May 2024 Paper 1 examination (Before One PLC)
• Contents of the Case Study Pack

  • Glossary of key terms from the pre-release statement
  • Additional glossary of key terms relevant to the case study and the music festivals industry
  • Two different complete case studies (for reference and exam practice only)
  • Two separate Paper 1 mock exams, using the new assessment format
  • Full mark schemes for both mock exams
  • Comprehensive PowerPoint presentation that includes lesson activities, assessment advice, embedded videos, exam-practice questions, and accompanying teachers' notes
• Average cost


  Cost per unit of production, derived from dividing the total cost of output by the number of units produced. As a business grows, the average cost will tend to fall due to economies of scale.
• Challenge


  Any internal or external factor that hinders the operations and profitability of an organization
• Company


  A business owned by shareholders who have limited liability, legally separate from its owners
• Contracts


  Legally binding agreements between two parties, such as an employer and employee
• Cost


  Items of expenditure by a business when producing goods and/or services
• Directors


  Senior executives in an organization who hold autonomous decision-making responsibility and power
• Employees


  People who work for a business, both permanent and temporary
• Environmental sustainability


  The ability of a business to maintain the use of its renewable and non-renewable resources for future generations
• Expansion


  The growth of a business due to an increase in the size of the organization itself and/or growth in the market
• Fee


  Payments made to a professional body in exchange for advice or services
• Finance


  Money required for business activities, from internal or external sources
• Location


  The geographical position of a business, a crucial decision with profound implications
• Permanent employees


  Workers with an employment contract on a continual basis
• Private limited company


  An incorporated business owned by shareholders who have limited liability, with shares not traded publicly
• Public limited company


  An incorporated business owned by shareholders who have limited liability, with shares traded publicly on a stock exchange
• Temporary workers


  Employees hired for a limited period of time or until the completion of a project
• Bamboo plates and cutlery are eco-friendly dishware, tableware, and utensils that reduce the environmental impact of BON's music festivals compared to traditional materials
• The COVID-19 pandemic had devastating impacts on the whole music industry, including music concerts and musical festivals, due to lockdown and social distancing measures
• Credit card


  A card payment system that allows customers to borrow funds from a financial services provider and repay later, often with interest charges
• Freelancer


  A self-employed individual who provides services to clients, rather than working for an employer
• Greenwashing


  Misleading marketing tactics that falsely portray sustainable practices or describe products to be more environmentally friendly than they actually are
• Interest rate


  The cost of borrowing money or the return on savings, expressed as a percentage figure
• Landfill site


  A designated area for the disposal of waste materials, compacted and buried to minimize environmental impacts
• Line manager


  The person directly above an employee on the next hierarchical level in an organizational structure, who supervises and manages their subordinates
• Music concert


  A live music performance event where artists and bands perform for a live audience
• Music genre


  The distinctive category or style of music, defining its audience and appeal
• Music festivals


  Large-scale music events featuring multiple musical performances across various music genres, often spanning multiple days
• Music performer


  An individual musician or a band that performs music, in recorded form and/or live performances
• Reservoir


  A facility for storing large volumes of water, used for different reasons like drinking water, generating hydroelectric power, and irrigation
• Solar power


  Energy or power generated from sunlight, providing clean and renewable energy
• Above the line (ATL) promotion

  The use of mass media (such as television, magazines, national newspapers, and radio) for advertising
• Advertising


  The main form of promotion, used to shape and develop brand awareness and foster customer perceptions, knowledge, and attitudes
• Agents


  Independent persons or companies appointed and authorized to act on behalf of another person in business and legal dealings
• Bank loans


  A fixed amount of money borrowed from a bank with regular fixed repayments, including interest payments, over a defined period
• Below the line (BTL) promotion

  The use of non-mass media promotional activities, such as special discounts, social media marketing, and targeted search engine marketing
• Board of Directors (BOD)


  An elected group of senior executives that acts as the governing body overseeing the operations and strategic direction of the company
• Brand


  A distinguishing name, symbol, image, or trademark of a product or organization, differentiating it from competitors
• Brand awareness


  The extent to which a brand name is recognized or well-known to its potential market audience