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Business StudiesQ&A by dot point
A short Q&A bank for every Singapore Business Studies syllabus dot point. Each question and answer is drawn directly from our worked dot-point page, so you can scan key concepts before opening the long-form answer.
Business Organisation and Environment
- Explain the main factors affecting the location decision of a business, including markets, costs, labour, infrastructure and government influence, for different types of business4Q&A pairs
- Explain incorporation, the meaning of a separate legal identity, the difference between unlimited and limited liability, and the consequences for owners and the business6Q&A pairs
- Explain organisational structure using an organisation chart, the meaning of hierarchy, chain of command, span of control, and delegation, and compare tall and flat structures6Q&A pairs
- Distinguish the private and public sectors, explain the role and objectives of public-sector organisations, and compare them with private-sector firms6Q&A pairs
- Compare the main forms of private-sector business organisation - sole trader, partnership, private limited company and public limited company - and their advantages and disadvantages8Q&A pairs
External Influences on Business
- Explain the environmental and ethical issues a business faces, the meaning of corporate social responsibility, and the costs and benefits of acting responsibly4Q&A pairs
- Explain what an exchange rate is and how a rise (appreciation) or fall (depreciation) in the currency affects exporters and importers5Q&A pairs
- Explain globalisation and international trade, the opportunities and threats they bring to businesses, and the role of multinational companies and trade barriers5Q&A pairs
- Explain the main government economic objectives and how fiscal and monetary policy, and legislation, affect business activity6Q&A pairs
- Explain the stages of the business cycle and how a boom, recession, slump and recovery affect businesses, and how firms can respond3Q&A pairs
Financial Information and Decisions
- Explain cash flow and the difference between cash and profit, construct and interpret a cash-flow forecast, and identify ways to improve cash flow5Q&A pairs
- Explain revenue, costs and contribution, calculate the break-even point and margin of safety, and use break-even analysis to support business decisions6Q&A pairs
- Explain the purpose and main parts of an income statement, calculate gross profit and profit for the year, and explain how profit can be used or improved5Q&A pairs
- Explain the main internal and external sources of finance, the difference between short-term and long-term finance, and the factors that influence the choice5Q&A pairs
- Explain the purpose and main elements of a statement of financial position and calculate and interpret simple profitability and liquidity ratios5Q&A pairs
Marketing
- Explain how technology, the internet, social media and e-commerce affect the marketing mix, and analyse the benefits and drawbacks of selling online3Q&A pairs
- Explain market segmentation, the main ways a market can be segmented, and the benefits and drawbacks of targeting a segment with a focused marketing mix4Q&A pairs
- Explain the main pricing strategies a business can use, the factors that influence the price set, and how price links to the rest of the marketing mix3Q&A pairs
- Explain the role of marketing, the difference between market-oriented and product-oriented businesses, and the purpose and methods of primary and secondary market research7Q&A pairs
- Explain the four elements of the marketing mix (product, price, place and promotion) and how they must be combined and adapted to suit the product and the target market7Q&A pairs
Operations Management
- Explain fixed, variable and total costs, calculate average (unit) cost, and explain economies and diseconomies of scale6Q&A pairs
- Explain how a business manages inventory, including stock control, reorder and buffer levels, just-in-time, and the importance of choosing reliable suppliers5Q&A pairs
- Explain the methods of production - job, batch and flow - and the factors a business considers when choosing between them6Q&A pairs
- Explain productivity and efficiency, how labour productivity is measured, the ways a business can raise productivity, and why higher productivity lowers unit costs5Q&A pairs
- Explain why quality is important and compare quality control with quality assurance and total quality management as ways of managing quality7Q&A pairs
People in Business
- Explain the functions of management (planning, organising, coordinating, commanding and controlling) and compare the main leadership styles and when each is appropriate6Q&A pairs
- Explain the importance of good communication, the difference between internal and external communication, one-way and two-way communication, the main methods, and barriers to communication5Q&A pairs
- Explain why people work and the importance of a motivated workforce, summarise key motivation theory, and compare financial and non-financial methods of motivation3Q&A pairs
- Describe the recruitment and selection process, the difference between internal and external recruitment, the main selection methods, and the role of legal controls over employment6Q&A pairs
- Explain the importance and methods of training (induction, on-the-job and off-the-job), the benefits of a trained workforce, and the reasons for and ways of reducing the workforce5Q&A pairs
Understanding Business Activity
- Explain the objectives a business may set, the meaning and aims of the main stakeholder groups, and how the objectives of stakeholders can conflict4Q&A pairs
- Classify business activity into the primary, secondary and tertiary sectors, explain the chain of production, and describe how the relative importance of sectors changes5Q&A pairs
- Describe the characteristics and role of an entrepreneur, the contents and purpose of a business plan, the reasons businesses succeed or fail, and how governments support enterprise5Q&A pairs
- Compare the ways of measuring the size of a business, explain why and how businesses grow, the difference between internal and external growth, and why some firms stay small4Q&A pairs
- Explain the purpose of business activity, the meaning of needs and wants, scarcity and opportunity cost, the factors of production, and how a business adds value5Q&A pairs