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UK GCSE 2007 : Higher Tier, Business Studies Paper 1

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Centre Number 71 Candidate Number General Certificate of Secondary Education 2007 Paper 1 Higher Tier G1203 Business Studies [G1203] FRIDAY 25 MAY, AFTERNOON TIME 1 hour 30 minutes. INSTRUCTIONS TO CANDIDATES Write your Centre Number and Candidate Number in the spaces provided at the top of this page. Write your answers in the spaces provided in this question paper. There should be enough space for your answers. If you do require more space, you may complete your answers on the extra lined pages at the back of this booklet. Answer all three questions. This paper is accompanied by a case study. You must not use your own annotated copy of this case study. INFORMATION FOR CANDIDATES The total mark for this paper is 79, including a maximum of 4 marks for quality of written communication. Figures in brackets printed down the right-hand side of pages indicate the marks awarded to each question or part question. For Examiner s use only Question Number 1 2 3 QWC Total Marks G121H7 2373 Marks 1 (a) Define the following terms which can be found in the Case Study. (i) Ltd _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (ii) induction training _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (iii) competitive advantage _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (iv) product range _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] G121H7 2373 2 Examiner Only Marks Remark (b) Explain two differences between the type of business ownership involved in Lazy Days Ltd and Henry Harold s Hardware Store. Examiner Only Marks Remark _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] (c) (i) Identify and explain two possible aims Lazy Days Ltd might have. _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [4] G121H7 2373 3 [Turn over (ii) Explain how aims might conflict in a business such as Lazy Days Ltd. _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [4] (d) (i) Identify the type of growth that has taken place in Lazy Days Ltd. __________________________________________________ [1] (ii) Analyse the impact this growth might have on the business. _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [4] G121H7 2373 Examiner Only Marks Remark 2 (a) Explain the difference between fixed and variable costs. Give one possible example of each for Lazy Days Ltd. Examiner Only Marks Remark _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] (b) Use the information in Fig. 3 of the Case Study to calculate the breakeven point for the tables for Lazy Days Ltd. Show your calculations in the space below. [3] G121H7 2373 5 [Turn over (c) (i) Currently Lazy Days Ltd produce 140 tables per month. Calculate the margin of safety in the space below. [2] (ii) What is the significance of the margin of safety to a business such as Lazy Days Ltd? _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] G121H7 2373 Examiner Only Marks Remark (d) Draw and label a breakeven graph for tables for Lazy Days Ltd. 44, 000 42, 000 40, 000 38, 000 36, 000 34, 000 32, 000 30, 000 28, 000 26, 000 24, 000 22, 000 20, 000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 100 200 300 400 500 Examiner Only Marks G121H7 2373 7 [6] Remark [Turn over (e) (i) What do you understand by the term quality assurance ? _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (ii) Evaluate the implications for Lazy Days Ltd of being awarded a quality standard. _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [6] G121H7 2373 Examiner Only Marks Remark 3 (a) Why might Ahead! prefer to use internal rather than external sources of finance? Examiner Only Marks Remark _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (b) Recommend one suitable external source of finance for Ahead! Justify your recommendation. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] (c) Identify and explain one suitable source of advice and assistance that might be available to Ahead! _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [3] G121H7 2373 [Turn over (d) Discuss factors that might affect Colleen and Patricia s job satisfaction. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] (e) The Case Study indicates that Henry Harold needs to recruit new staff. Outline factors that will influence his choice of recruitment method. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] G121H7 2373 10 Examiner Only Marks Remark (f) Henry Harold wants to create a website and take orders on-line. Evaluate the effect this might have on his business. Examiner Only Marks Remark _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [8] Quality of written communication G121H7 2373 11 [Turn over Extra page if required ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ G121H7 2373 12 Examiner Only Marks Remark Extra page if required ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ G121H7 2373 13 Examiner Only Marks Remark THIS IS THE END OF THE QUESTION PAPER G121H7 2373 1 SP (NF/CGW) T24140/3 General Certificate of Secondary Education 2007 Case Study for use with Paper 1 Foundation Tier and Higher Tier [G1201] G1201G1203 Business Studies [G1203] FRIDAY 25 MAY, AFTERNOON You must use this clean copy of the Case Study in the examination and not your own annotated copy. G121F7/G121H7 2373.01 HIGHTOWN Welcome to Hightown. This is a small town that is located 15 miles from a busy city. It is easily accessible with good road and rail networks and has a growing population of just over 12 000. It is a popular summer location with its street caf s and small port. Lazy Days Ltd Lazy Days Ltd is a furniture manufacturer which has been in business for the last ten years. It currently employs 64 people and specialises in producing wooden garden furniture. Below is an organisation chart for Lazy Days: ORGANISATION CHART FOR LAZY DAYS LTD Managing Director Sales and Marketing Director Personnel Director Production Director Finance Director Production Manager Chief Accountant Sales Manager Marketing Manager Personnel Manager Team Leader Marketing Assistants (4) Supervisor Production Supervisor 2 Office Head Administration Production assistants workers (3) (16) Sales Staff (5) Production Supervisor 1 Production workers (18) Clerical staff (3) Fig. 1 G121F7/G121H7 2373.01 2 The Managing Director realises the importance of his staff and there are clear lines of authority and responsibility in the business. Each employee has a job description and all receive contracts of employment. Staff benefit from on-going training on new procedures and all new staff receive induction training. Example of a job description: Job Description Title: Department: Responsible to: Responsible for: Production Manager Production Production Director Production Supervisors and Production Workers Job Purpose: To plan, monitor and control production to ensure goods are produced at the right quality, the right quantity and at the least cost. Main Duties: To decide the amount to be produced To organise and train all production staff To ensure high quality products are manufactured To order in the correct amount of raw materials To ensure maintenance of production machinery To control departmental budgets and costs To attend regular meetings with the Managing Director To produce monthly reports for the Managing Director To link with other departments on such issues as packaging, distribution and marketing Fig. 2 G121F7/G121H7 2373.01 3 [Turn over Lazy Days Ltd use batch production. This means the same labour and equipment can be used to produce batches of different garden furniture. The business has recently been awarded a contract to supply garden furniture and wooden planters to a restaurant franchise throughout Europe. This could open the door to further contracts which would lead to expansion of the business. The business realises the importance of quality assurance and is considering working towards achieving a quality standard. The Managing Director is keen to get started straight away as he feels it will place Lazy Days Ltd ahead of the competition and give them competitive advantage. He has called a meeting with the other directors to discuss the way forward. The Production Manager is keen to calculate breakeven figures for the garden furniture and planters. He uses the following information: Costs and prices Chairs Tables Planters Fixed costs 4000 4000 4000 Labour per unit 7.50 7.50 7.50 Materials per unit 17.50 22.50 7.50 Selling price 50 80 35 Fig. 3 Calculating breakeven can help him see how many goods need to be sold each month in order to make a profit. It can also help him see the effect price changes might have on the profits. G121F7/G121H7 2373.01 Henry Harold s Hardware Store This hardware store has been running for over twenty years. The owner Henry employs four fulltime staff and six part-time staff. He carries an extensive product range which includes painting equipment, nails of all sorts, fencing, garden accessories and other hardware products. The business has enjoyed mixed success but has recently noticed an increase in trade since it started to stock Jungle Gym equipment for children a range of climbing frames, forts, castles and swings. Henry buys the equipment flat packed from a supplier but has discovered a market for assembling it since many parents are working and do not have the time to do it themselves. He has also decided to stock gas barbecues and is offering his customers the option of having the barbecue delivered, fully assembled. This too is proving a popular service. Henry has designed a leaflet to inform customers of his service: Now supplying Prices from 190 We are offering the service of both our Jungle Gym equipment and barbecues being delivered and fully assembled at your home (see in store for details) Fig. G121F7/G121H7 2373.01 5 [Turn over Due to the demand for these services Henry is considering employing two extra staff one part-time and one full-time. He draws up a job advertisement and decides to advertise in the Belfast Telegraph. Below is the job advertisement. Requires full-time and part-time staff Joinery experience essential Ability to work as part of a team Good remuneration and holidays For more information telephone: 028 9012 3456 Fig. 5 G121F7/G121H7 2373.01 Ahead! This is a new trendy hair dressing salon that was set up three years ago by two hairdressers, Colleen and Patricia. They have a regular customer base and have built a good reputation for a friendly reliable service. All customers receive tea or coffee on arrival and are given a 10 minute head massage before their hair is styled. Prices are slightly higher than those of the salon s competitors but Colleen and Patricia feel this is justified by the added service. Prices for Ahead! Prices for Ahead Ahead! Prices from: Cut and Blow Dry 18.50 Tinting 25.00 Semi-permanent colouring 25.00 Permanent colouring 35.00 Highlighting 29.50 Lowlighting 25.00 Children s cut 10.00 Fig. Due to the success of the business they have extended their opening hours to include three late nights and now employ six other hairdressers to work with them. They are currently thinking of extending their services to include a beauty salon. Patricia thinks it would be a good idea to sell their current premises and move to bigger premises on the edge of town. Colleen is worried about losing customers and wants to extend the premises at the rear and has been told it will cost 25,000 to do so. She thinks it will take another 5000 to train staff and stock the salon. Currently the owners are deciding which is the best course of action and what is the best way to finance the expansion. G121F7/G121H7 2373.01 7 SP (NF/CGW) T24154/2

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