IGCSE Business Studies Paper-1: Specimen Questions with Answers 4 - 6 of 14

Passage

Hari’s son Mukul owns a business that assembles computers. He believes in giving his workers responsibility to plan their own work. ‘I just let them get on with their jobs as I’m sure that this freedom motivates them’ he said. ‘I help organise training for them if they need it’.

Question number: 4 (4 of 4 Based on Passage) Show Passage

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Essay Question▾

Describe in Detail

Why does motivation is so important in any organization?

Explanation

Motivation is generally what energizes, maintains, and controls behavior.

- Motivation factor in any workplace is the most important but is difficult to measure, as it is intangible.

- Salary is one of the element that keeps the workers motivated, but this is not enough. Incentives, bonus etc are the other motivational element.

- Motivated employees will have high level of efficiency, more creative work, enthusiasm which ultimately improves performance level.

Passage

Ravi Yadav lives in a city in country Z. The city has a big Indian population. When Ravi was looking for a business opportunity he identified a niche market in selling saris and similar clothes to Indian ladies. He imports the clothes from country X and sells them to retailers in his city.

Question number: 5 (1 of 4 Based on Passage) Show Passage

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Short Answer Question▾

Write in Short

Ravi’s business is that of a wholesaler. Why do you think that retailers in country Z don’t buy their clothes directly from the suppliers?

Explanation

Wholesalers are the person who buys various goods or products from the suppliers in larger quantity and sells them to retailers. Suppliers usually sales good in larger amounts, they believe in dispatching goods to people who only take number of goods in larger amount and the retailers do not believe in bulk selling

Question number: 6 (2 of 4 Based on Passage) Show Passage

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Short Answer Question▾

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Explain the term ‘niche market’.

Explanation

Niche market means the market in which a specific product is focused. A kind of small market segment in which the price, production, quality, quantity all is carried out keeping in mind the needs of the specific market. Niche marketing believes in being a big fish in small pond rather than being small fish in big pond.