Wales · WJECQ&A
BusinessQ&A by dot point
A short Q&A bank for every Wales Business syllabus dot point. Each question and answer is drawn directly from our worked dot-point page, so you can scan key concepts before opening the long-form answer.
Business Analysis and Strategy (A2 Unit 3)
- Business objectives and strategy: corporate aims and objectives, SWOT analysis, the Ansoff Matrix, and Porter's Five Forces, and how these inform strategic decisions.4Q&A pairs
- Data and market analysis: interpreting business and market data, and price elasticity of demand and income elasticity of demand, including their calculation and use in decision making.3Q&A pairs
- Decision-making models: decision trees and expected values, critical path analysis (CPA), and cost-benefit analysis, including their construction, use and limitations.4Q&A pairs
- Financial analysis: budgets and variance analysis, the balance sheet and income statement, and ratio analysis of profitability, liquidity and efficiency.3Q&A pairs
- Growth and methods of expansion: organic and external growth (mergers and takeovers), franchising, outsourcing, and rationalisation, with their benefits and drawbacks.5Q&A pairs
- Investment appraisal: the payback period, the average rate of return (ARR), and net present value (NPV) using discounted cash flow, with their calculation, use and limitations.4Q&A pairs
- Sales forecasting and time-series analysis: moving averages, identifying the trend, seasonal and cyclical variation, and the uses and limitations of extrapolation.3Q&A pairs
- Special order decisions: using contribution per unit to decide whether to accept a special order, including the relevant costs and the qualitative factors involved.3Q&A pairs
Business Functions (AS Unit 2)
- Finance and financial planning: cash-flow forecasting, budgeting and variance, the income statement, and profitability ratios (gross profit margin and net profit margin).4Q&A pairs
- Human resources: workforce planning, recruitment and selection, training, theories of motivation, leadership styles, and employer-employee relations.5Q&A pairs
- Marketing and the marketing mix: the 4Ps (product, price, place, promotion), digital marketing, the product life cycle and extension strategies, and the Boston Matrix for managing a product portfolio.4Q&A pairs
- Operations management: methods of production, productivity, capacity utilisation, lean production, stock control, and quality assurance and control.5Q&A pairs
- Research and development, innovation, and economies of scale: the role and benefits of R&D and innovation, and internal and external economies and diseconomies of scale.3Q&A pairs
Business in a Changing World (A2 Unit 4)
- Causes, effects and management of change: internal and external causes of change, the effects on a business, managing change, and overcoming resistance to change.5Q&A pairs
- International trade, globalisation and multinationals: the reasons for and effects of international trade and globalisation, the role and impact of multinational corporations, and trade barriers and exchange rates.3Q&A pairs
- Legal, ethical and environmental factors: the main areas of business law, business ethics and corporate social responsibility, and environmental responsibility and sustainability.2Q&A pairs
- PEST analysis: the political, economic, social and technological factors of the external environment, their effects on business, and the use of PEST to analyse opportunities and threats.6Q&A pairs
- Risk management and contingency planning: identifying and assessing risks, the purpose and contents of contingency plans, and the benefits and limitations of planning for the unexpected.3Q&A pairs
- The European Union and impacts on UK business: the single market and trading blocs, the effects of EU membership and of leaving on UK firms, and the implications of changing trade arrangements.4Q&A pairs
Business Opportunities (AS Unit 1)
- Business location and finance: the factors influencing location decisions, and the internal and external sources of finance available to a new business, including their costs and suitability.5Q&A pairs
- Business plans and sources of guidance: the purpose and contents of a business plan, its benefits and limitations, and the sources of advice and support available to a new business.3Q&A pairs
- Business structures: sole traders, partnerships, private and public limited companies, and not-for-profit organisations, including limited and unlimited liability and the implications for ownership, control and finance.6Q&A pairs
- Enterprise and entrepreneurs: the role and characteristics of entrepreneurs, the functions of enterprise, motives for starting a business, and the risks and rewards involved.3Q&A pairs
- Market research methods and sampling: primary and secondary research, quantitative and qualitative data, the main methods and their costs and reliability, and sampling methods including random, quota and stratified sampling.3Q&A pairs
- Revenue, costs, break-even and contribution: fixed and variable costs, total revenue and total cost, the calculation and interpretation of break-even output and the margin of safety, and contribution per unit.4Q&A pairs
- Types of markets and market segmentation: mass and niche markets, local to global markets, consumer and industrial markets, the bases of segmentation, and the concept of market size, growth and share.3Q&A pairs