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Provide THREE examples of franchise businseses.
McDonald's, 7/11, Starbucks etc.
Outline TWO advantages of being a franchise for a franchisee.
Lower chance of failure, Franchisor pays for advertising and provides training, Banks more willing to lend, Fewer decisions needed to be made
Outline TWO disadvantages of being a franchisor.
Reputational risks, Franchisee keeps profits of outlet
Outline TWO reasons why public sector organizations exist.
Make essential services accessible to public, protect jobs and maintain key industries, Prevent exploitation of customers
Differentiate between a public sector organization and a public limited company
Government owned vs. private individuals owned.
Identify FOUR stakeholders at the Shake Shack in New Town Plaza
Customers, cashier, management, New Town Plaza staff etc.
Identify THREE external stakeholders at Sha Tin College
Students, parents, 69K bus drivers, government etc.
Outline TWO stakeholder conflicts that might arise at STC.
ESF management wanting to cut costs vs. Teachers wanting higher salaries; Students/parents wanting lower tuition fees vs. teachers wanting higher pay
Identify TWO common objectives that the broader community / society might have when a business moves in that community.
creation of jobs, socially and environmentally responsible
Outline TWO features of private limited companies.
Unlimited liability, unincorporated business, more capital available for business compared to sole trader / partnership
Outline TWO advantages that public limited companies have over partnerships.
More easy to raise capital, limited liability, incorporated business etc.
Outline TWO disadvantages that partnerships have over sole traders
Slower decision-making, have to share profits
Identify THREE non-financial methods of motivation
Job rotation, teamworking, job enrichment, promotion etc.
Outline ONE advantage and ONE disadvantage of wages.
Easy to calculate and workers know exactly how much they are paid vs. good / bad workers get same amount, need to supervise, clock-in system
Outline ONE advantage and ONE disadvantage of profit sharing as method of motivation.
workers motivated to enrich company as a whole to make higher profits vs. firms make losses --> no profits + lower paid workers get paid less
