L6 National Day Holiday Homework

1 (a) Analyse the advantages of a co-operative as a legal form of

business. [8]
(b) Discuss the factors that could influence the success of a small
business manufacturing fashion clothing for children. [12]

2 (a) Define the term ‘mission statement’. [2]

(b) Briefly explain two limitations of mission statements. [3]

3 (a) Analyse the strengths and weaknesses of a ‘public limited

company’ legal structure for business. [8]
(b) Discuss how ethics may influence the decisions of private sector
banks. [12]

4 Explain why corporate objectives are important to a business. [5]

5(a) Define the term ‘opportunity cost’. [2]

(b) Briefly explain how business decisions involve opportunity cost,
using an appropriate example.[3]

6 (a) Define the term ‘social enterprise’. [2]

(b) Briefly explain two aims of a social enterprise. [3]

7 (a) Analyse the importance of corporate objectives and

departmental objectives to the success of a business. [8]
(b) Discuss why a bank might change its corporate objectives over
time. [12]

8 (a) Define the term ‘entrepreneur’. [2]

(b) Briefly explain two qualities of a successful entrepreneur. [3]

9 ‘A business mission statement is only important if it directly

affects the strategy and tactics of that business.’ Discuss this view.
[20]

10 (a) Analyse the potential advantages to a community of a business

with triple bottom line targets. [8]
(b) Discuss the role of business enterprise in the development of a
country. [12]