Describe the actions that can be taken by an organisation to reduce costs

SECTION 2 — 40 marks
Attempt ALL questions
3. (a) Discuss the advantages and disadvantages of recycling to an organisation.
(b) Explain the problems of having too much stock.
(c) The quality of products is important to all businesses.
(i) Identify 2 methods of ensuring quality.
(ii) Describe the methods identified in (c)(i).
Total marks
4. (a) Define the following financial terms.
• Fixed Costs
• Variable Costs
• Sales Revenue
(b) Describe the actions that can be taken by an organisation to reduce costs.
(c) (i) Justify the use of a spreadsheet in the finance department.
(ii) Describe the ways that other software can be used in the finance
department.
Total marks
5. (a) Describe the selection process used to choose the right person for the job.
(b) (i) Outline 2 methods of industrial action.
(ii) Explain the impact of industrial action on an organisation.
(c) Compare piece-rate with time-rate as methods of calculating wages.

6. (a) Outline 2 internal factors that can affect the success of an organisation.
(b) Describe factors of production.
(c) (i) Identify 2 stakeholders of a supermarket.
(ii) Explain how these stakeholders could influence the success of the
organisation.

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