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Business Studies
A Level

In 2007, a business had sales of £10 million in a market with a size of £125 million. In 2017 the business's sales were £12.6 million and its market share was 6%. Calculate the percentage growth in the size of the market between 2007 and 2017. (4 marks)

market share 2007 = 10/125 x100 = 8%market size 2017 = 12.6/x x100 = 6% 12.6/x = 0.06 12.6 = 0.06 x (divide by 0.06) = 210 millionmarket size growth = new - old/old 210 (new) - 125 (old)/ 125 (old) x100 =...

Answered by Jasmine D. Business Studies tutor
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To what extent is appointing a new leader likely to be a good way to improve business performance? Justify with reference to leaders (20 marks)

Leadership is a relationship through which one person influences the behaviour or actions of other people. Leadership can be demonstrated as 'command' where leaders take direct control, 'vision' leaders s...

Answered by Jasmine D. Business Studies tutor
1857 Views

What is the difference between a strategy and a tactic?

Business strategies are often long-term; they define goals across many years and how to work towards achieving them; specifically, strategies are often developed to work towards the business's mission.Tac...

Answered by Liora W. Business Studies tutor
1408 Views

Explain the benefits of a firm benefitting from Economies Of Scale

If a firm can benefit from Economies of Scale this will mean as the firm grows their average costs reduce. Therefore, they are more efficient, as a result they are able to be more competitive in the marke...

Answered by Jay T. Business Studies tutor
1211 Views

What are the five levels in Maslow's Hierarchy of Needs?

at the base of the pyramid is Physiological needs, these are basic, human needs that need to be fulfilled for the worker to have the physical ability to perform (i.e. food and water). The next layer is He...

Answered by Lewis G. Business Studies tutor
1519 Views

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