Ilford County High School Economics & Business Department

Year 10Introduction to small businesses

Homework BookUnit 1.4

Making the start up effective Name and class My benchmark My achievement

The following pack contains the homework questions which you will be expected to complete as part of this Topic within Unit 1.1. Each section will have a deadline date which you must meet. Your teacher will collect all booklets on this date, mark the work and give you with feedback on your progress and identify those areas which you need to improve in and strategies to help raise achievement.

Complete your homework on time. Do your best. If you have difficulties, come and get support at ‘Homework

Lunch Time Club’ If you score less than 50% or if your work is unsatisfactory, you

will be expected it to improve to acceptable level of standard.After completing your work BE PROUD OF YOURSELF

Homework due on: ________________ Marks: /23

Chapter 19 Customer Focus and Marketing mix

1. Three steps of customer focus: ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------

(3) 2. Four Ps of Marketing mix

---------------------------------------. --------------------------------------. -------------------------------------. -------------------------------------.

(4)

3. What is meant by the ‘marketing mix’?

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(2)

4. How has the internet helped the marketing of small businesses?

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(4)

Bobby Montez studied business at university and has been running a gym and fitness club for over 10 years. The number of members is ten times as high as when he started. He now

wants to set up on his own. He has some of his own savings but also has four outside investors who he met at the club. They were so impressed with the way he was running the club that they were willing to become shareholders in his new company. Bobby knows the importance of getting the marketing mix right if the new club is to succeed. His target market is busy working people who do not have much spare time but want to keep fit. He plans to have the latest equipment and smart facilities near the centre of town so people can visit on their way to and from work or during their breaks.

1. What factors do you think will influence the price Bobby sets for the membership of his club?

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(4)

2. Do you think the success of Bobby’s new club will mainly depend on the price he charges?

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(6)

My Performance :

What Went Well (WWW):

Tidy and well organised work. Submitted on time. Good effort. Good/excellent detail, if applicable Any other ---

Even If Better (EBI): If read well. If work was more organised Any other--

Student comments: Techer’s comments: _________________ has / has not submitted his work on time and it is _______________________________ piece of work.

Marks: My Targets:

Standard of work Acceptable Unacceptable

Action taken: More time offered Department detention Any other action --

Homework due on: ____________________ Marks: /26

Chapter 20 The importance of limited liability

1. Distinguish between sole trader and private limited company.Explain each point briefly.

Sole trader Private ltd. Co.Risk /liability

Control

Profits

Privacy

Ownership/shareholders

(10)2. Define the following terms:Sole trader, Unlimited Liability, Limited liability, CompaniesWRITE in your exercise book

(4)

3.Read the following case study and answer the following questions:Nadir Ahmed has been working for a large garage for the last 8 years. He has specialised in fixing scratched and dents. He is good at his job and has recently been given a pay rise. However, he wants to work for himself and start his own repair business, which will fix any damage to a car’s bodywork. He will need about £25 000 to set up with a small workshop, to buy some equipment and to start promoting the business. He has about three quarters of this money himself but would need to raise the rest of the money from somewhere else. He thinks he will set up as a sole trader but his friends have told him he should set up a company instead.

1. State two advantages to Nadir of setting up as a sole trader (2 marks)__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

2. Explain two disadvantages to Nadir of setting up as a sole trader (4 marks)

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.3. Discuss whether it might be better for Nadir to set up as a company rather than as a sole trader

(6 marks)_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

My Performance :

What Went Well (WWW): Tidy and well organised work. Submitted on time. Good effort. Good/excellent detail, if applicable Any other ---

Even If Better (EBI): If read well. If work was more organised Any other--

Student comments: Techer’s comments: _________________ has / has not submitted his work on time and it is _______________________________ piece of work.

Marks: My Targets:

Standard of work Acceptable Unacceptable

Action taken: More time offered Department detention Any other action --

Homework due on: _____________ Marks: /20

Chapter 21 Start up and legal tax issues

1. Write two factors influencing business name. -----------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------------------------------.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. (4)

2. Following is the list the different types of records businesses have to keep. Justify their importance.Type of record Why is it important?Receipts

Invoices

Wages paid

Utility bills

(4)

3.Type of tax Who pays it Payment

limitAny other information

VAT

Income tax

NICs

Corporation tax

(12)My Performance :

What Went Well (WWW): Tidy and well organised work. Submitted on time. Good effort. Good/excellent detail, if applicable Any other ---

Even If Better (EBI): If read well. If work was more organised Any other--

Student comments: Techer’s comments: _________________ has / has not submitted his work on time and it

is _______________________________ piece of work.

Marks: My Targets:

Standard of work Acceptable Unacceptable

Action taken: More time offered Department detention Any other action --

Homework due on: __________________ Marks: /28

Chapter 22 Customer Satisfaction

1. Fill in the gaps.--------------------- -------------------- is the experience the customer has dealing with a business. It covers areas like ------------------- of the product, attitude of the -----------------------, feedback of the -------------------------, delivery of the products on ---------------------, the ------------------------- location and after sale ----------------------.--------------------------- --------------------------- is when the customers buy goods from the same business most of the time. Businesses plan different ways to keep customers coming back. They may be,

----------------------------------------,----------------------------------------,---------------------------------------- and-----------------------------------------. (13)

2. Read page 107 ‘Over to you’ and answer the questions in your exercise book. (15)

My Performance :

What Went Well (WWW): Tidy and well organised work. Submitted on time. Good effort. Good/excellent detail, if applicable Any other ---

Even If Better (EBI): If read well. If work was more organised Any other--

Student comments: Techer’s comments: _________________ has / has not submitted his work on time and it is _______________________________ piece of work.

Marks: My Targets:

Standard of work Acceptable Unacceptable

Action taken: More time offered Department detention Any other action --

Homework due on: _____________ Marks: / 33

Chapter 23 Recruiting, training and motivating staff

1. Match the pairs:

Job Advert It includes details of an applicant.

Job Particulars It includes list of skills and other suitability a person should have for the job.

Job description It may be given in the newspapers, television or in other ways.

Person Specification Information about the organisation and the job.

CVs and application form It sets out what the person appointed to the job will have to do.

(5)2. Write down the selection process using the key words:(Shortlist, interview, written test, references.)--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. (6)3. What is :

On-the-job training:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------.

Off-the-job training:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. (4)

4. Write six ways to motivate the staff:------------------------------------------------------------------------,-------------------------------------------------------------------------,------------------------------------------------------------------------------,--------------------------------------------------------------------------------,----------------------------------------------------------- and --------------------------------------------------------------------------. (6)

5. Complete the following:Over the years various --------------------------- are passed to protect the workers from the unfair practices. Workors can not be discriminated against -----------------------, ---------------------, ---------------------- or -----------------------------. Protection at work includes payment of ------------------ regularly and fairly, protecting workers from ------------------------ under -------------------- and ---------------------------- laws. There are also rights about joining a ---------------------- ---------------------.Workers are protected against unfair -------------------------- from the work. (12)

My Performance :

What Went Well (WWW):

Tidy and well organised work. Submitted on time. Good effort. Good/excellent detail, if applicable Any other ---

Even If Better (EBI): If read well. If work was more organised Any other--

Student comments: Techer’s comments: _________________ has / has not submitted his work on time and it is _______________________________ piece of work.

Marks: My Targets:

Standard of work Acceptable Unacceptable

Action taken: More time offered Department detention Any other action --

MY OVERALL PERFORMANCE OF THE UNIT:

Topic Homework marks Grade BoundariesChapter 19

A* = 90% +

A = 80% - 89%

B = 70% - 79%

C = 60% - 69%

Chapter 20Chapter 21Chapter 22Chapter 23

Average Performance (%)

Assessment Marks:Grade:

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