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1.4, 1.5, 2.1 Review

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  • Differentiate between a public sector organization and a public limited company
    Government owned vs. private individuals owned.
  • 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
  • Provide THREE examples of franchise businseses.
    McDonald's, 7/11, Starbucks 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 TWO disadvantages that partnerships have over sole traders
    Slower decision-making, have to share profits
  • Outline TWO disadvantages of being a franchisor.
    Reputational risks, Franchisee keeps profits of outlet
  • Identify FOUR stakeholders at the Shake Shack in New Town Plaza
    Customers, cashier, management, New Town Plaza staff etc.
  • Identify THREE non-financial methods of motivation
    Job rotation, teamworking, job enrichment, promotion etc.
  • Outline TWO reasons why public sector organizations exist.
    Make essential services accessible to public, protect jobs and maintain key industries, Prevent exploitation of customers
  • 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 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 THREE external stakeholders at Sha Tin College
    Students, parents, 69K bus drivers, government 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 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
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