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WalesBusiness

Business Functions (AS Unit 2)

5 dot points across 5 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

How does a business plan and control its finances, and how is profit measured and analysed?

Finance and financial planning: cash-flow forecasting, budgeting and variance, the income statement, and profitability ratios (gross profit margin and net profit margin).
A focused answer to the WJEC A-Level Business Unit 2 finance content, covering cash-flow forecasting, budgeting and variances, the structure of the income statement, and profitability ratios such as gross and net profit margins, with worked calculations and business contexts.
13 min answer →

How does a business recruit, train, motivate and lead its people, and manage relations with them?

Human resources: workforce planning, recruitment and selection, training, theories of motivation, leadership styles, and employer-employee relations.
A focused answer to the WJEC A-Level Business Unit 2 human resources content, covering workforce planning, recruitment and selection, training, motivation theories (Taylor, Maslow, Herzberg), leadership styles and employer-employee relations, with business examples.
13 min answer →

How does a business market its products, and how do the elements of the marketing mix work together?

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.
A focused answer to the WJEC A-Level Business Unit 2 marketing content, covering the 4Ps marketing mix, digital marketing, pricing strategies, the product life cycle and extension strategies, and the Boston Matrix, with worked examples and Welsh and UK contexts.
13 min answer →

How does a business produce its goods and services efficiently while maintaining quality?

Operations management: methods of production, productivity, capacity utilisation, lean production, stock control, and quality assurance and control.
A focused answer to the WJEC A-Level Business Unit 2 operations content, covering methods of production, productivity, capacity utilisation, lean production and just-in-time, stock control, and quality assurance and control, with worked calculations and business examples.
13 min answer →

Why do businesses invest in research and innovation, and how does growing larger affect their costs?

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.
A focused answer to the WJEC A-Level Business Unit 2 content on research and development, innovation, and economies of scale, covering the role and benefits of R&D, internal and external economies of scale and diseconomies of scale, with worked examples.
12 min answer →