Look inside the AQA A-Level Business guide (7132)

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AQA · A-Level · 7132
Business
Active Recall Guide
1,819 questions
BusinessContents
Contents
11 topics, 143 subtopics
  1. What Is Business?95
  2. Managers, Leadership and Decision Making104
  3. Marketing Management154
  4. Operational Management202
  5. Financial Management198
  6. Human Resource Management203
  7. Analysing the Strategic Position of a Business352
  8. Choosing Strategic Direction75
  9. Strategic Methods: How to Pursue Strategies169
  10. Managing Strategic Change144
  11. Problems with Strategy and Why Strategies Fail123
ii
Managers, Leadership and Decision MakingQuestions
Managers, Leadership and Decision Making
Management, leadership and the four leadership styles
  1. What does management focus on in terms of achieving objectives?
  2. What does leadership focus on in relation to people?
  3. In autocratic leadership, who makes the decisions?
  4. What role do employees play in decision-making under autocratic leadership?
  5. What type of communication characterises autocratic leadership?
  6. How would you describe the level of control in autocratic leadership?
  7. What is the primary concern of a paternalistic leader when making decisions?
  8. Does a paternalistic leader consult employees before making decisions?
  9. How does paternalistic leadership compare to autocratic leadership in approach?
12
Managers, Leadership and Decision MakingAnswers
Answers
Management, leadership and the four leadership styles
  1. Planning, organising, coordinating and controlling resources.
  2. Inspiring, motivating and influencing people towards a vision.
  3. The leader makes all decisions without consulting employees (centralised decision-making).
  4. No role — there is no employee consultation.
  5. One-way communication (from leader to employees).
  6. Strict control over employees and operations.
  7. Acting in the best interests of employees.
  8. Yes, consultation occurs, but the leader retains final authority and makes the decision.
  9. It is a softer approach than autocratic leadership.
13
Financial ManagementQuestions
Financial Management
Gross profit, operating profit and profit for the year
  1. What is gross profit?
  2. What does 'cost of sales' include?
  3. Calculate the gross profit when revenue = £260,000, cost of sales = £220,000.
  4. What is operating profit?
  5. What types of costs are included in operating expenses?
  6. State the formula for operating profit.
  7. Calculate the operating profit when gross profit = £110,000, operating expenses = £135,000.
  8. What is profit for the year?
  9. Why is interest deducted when calculating profit for the year?
34
Financial ManagementAnswers
Answers
Gross profit, operating profit and profit for the year
  1. Gross profit is calculated by subtracting the cost of sales from revenue, representing the profit before operating expenses are deducted.
  2. Cost of sales includes the direct costs of producing or purchasing the goods that were sold, such as raw materials and direct labour.
  3. Gross profit = 260000 − 220000 = £40,000.
  4. Operating profit is calculated by subtracting operating expenses from gross profit, representing profit from core trading activities before interest and tax.
  5. Operating expenses include costs such as rent, utilities, salaries, marketing, and administrative costs incurred in running the business.
  6. Operating Profit = Gross Profit − Operating Expenses
  7. Operating profit = 110000 − 135000 = −£25,000.
  8. Profit for the year is the final profit figure after all expenses including interest and taxation have been deducted, representing the amount available to shareholders.
  9. Interest is deducted because it represents the cost of financing the business through borrowing, which must be paid before profit is available to shareholders.
35
Strategic Methods: How to Pursue StrategiesQuestions
Strategic Methods: How to Pursue Strategies
Organic growth, external growth and retrenchment
  1. What is organic growth?
  2. What is external growth?
  3. How does the speed of organic growth compare to external growth?
  4. How does the risk level of organic growth compare to external growth?
  5. How is organic growth typically funded compared to external growth?
  6. What happens to organisational culture under organic versus external growth?
  7. How can growth help a business achieve economies of scale?
  8. Why might a business pursue growth to increase market share?
  9. How does growth contribute to increased profits?
56
Strategic Methods: How to Pursue StrategiesAnswers
Answers
Organic growth, external growth and retrenchment
  1. Internal expansion achieved through a business increasing its own output, sales, or capacity using its existing resources and capabilities.
  2. Expansion achieved by joining with or acquiring other businesses rather than expanding internally.
  3. Organic growth is slower, whereas external growth is faster.
  4. Organic growth is lower risk, whereas external growth is higher risk.
  5. Organic growth is funded internally, whereas external growth often requires external finance.
  6. Organic growth maintains existing culture, whereas external growth involves integrating different organisations with potentially different cultures.
  7. As output increases, average costs fall due to efficiencies in production, purchasing, and management, improving profitability.
  8. Greater market share strengthens competitive position, increases brand recognition, and can lead to greater pricing power.
  9. Growth can increase revenue through higher sales volumes and reduce average costs through economies of scale, both boosting profits.
57
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1,819 questions
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  1. Step 1 · Closed book

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  2. Step 2 · Open book

    Go back to the top. Read each printed answer and write it out in full, including the ones you had right.

  3. Step 3 · Closed book again

    Same questions, same order, from memory. The gap between pass one and pass three is the session result.

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