9707 BUSINESS STUDIES

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1 CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced MARK SCHEME fr the May/June 2014 series 9707 BUSINESS STUDIES 9707/31 Paper 3 (Case Study), maximum raw mark 100 This mark scheme is published as an aid t teachers and candidates, t indicate the requirements f the examinatin. It shws the basis n which Examiners were instructed t award marks. It des nt indicate the details f the discussins that tk place at an Examiners meeting befre marking began, which wuld have cnsidered the acceptability f alternative answers. Mark schemes shuld be read in cnjunctin with the questin paper and the Principal Examiner Reprt fr Teachers. Cambridge will nt enter int discussins abut these mark schemes. Cambridge is publishing the mark schemes fr the May/June 2014 series fr mst IGCSE, GCE Advanced and Advanced Subsidiary cmpnents and sme Ordinary cmpnents.

2 Page 2 Mark Scheme Syllabus Paper 1. Analyse the likely benefits t RSC f perating ethically twards its stakehlders. [10] 4 marks 2 knwledge shwn f ethical trading and its benefits Pints well applied 4 use f reasned explain benefits f ethical trading 1 shwn f ethical trading and ne benefit OR tw benefits attempt t apply pints r ne pint well applied use f reasned explain benefits f ethical trading Definitin f ethical trading e.g. based n mral cde f cnduct Indicatins in this : prfit sharing scheme; charitable dnatins Ptential benefits: High labur mtivatin/prductivity this may help t reduce csts f recruitment f wrkers wh leave and reduce unit csts thrugh high utput per wrker Gvernment and lcal cmmunity supprt fr e.g. expansin prgrammes which have allwed RSC t grw. Supplier supprt during grwth f RSC maybe because RSC is reliable and always pays n time Ptential marketing benefits t, frm ethical trading. 2 (a) Using the data in Table 1, calculate fr 2014 the: (i) Grss prfit margin [3] Grss prfit = $26 m [1] GPM% = GP / Revenue 100 [1] 20% [3] Allw [2] fr crrect OFR calculatin f rati if grss prfit is incrrect (ii) Net prfit margin. [3] Net prfit = $12 m [1] NPM% = NP / Revenue 100 [1] 9.23% [3] Allw [2] fr crrect OFR calculatin f rati if net prfit is incrrect [3] marks if NPM is crrectly calculated but based n NP derived frm incrrect GP

3 Page 3 Mark Scheme Syllabus Paper 2 (b) Recmmend a marketing plan which culd increase prfit margins fr RSC s Fd Manufacturing Divisin. Justify yur recmmendatin. [14] Evaluatin 2 knwledge shwn f marketing plan 5 use f reasned explain marketing plan and impact n prfit margins 5 answer and 1 knwledge f marketing plan use f reasned explain marketing plan answer and/r Marketing plan a detailed reprt n a firm s marketing strategy including audit, bjectives, budget and marketing mix N clear aim in this marketing directr assumed market share was the aim but is being criticised fr lw prfitability hw might a clearer bjective help the plan? Inadequate prmtin budget? Depending n retailers t prmte the prducts hw much shuld RSC spend and hw shuld they spend it? Prducts lw brand image and limited range f prducts perhaps this is the key t increasing the selling prpsitin f RSC and a mre up-market range f prducts that allw fr higher prices/less discunting might increase prfit margins Prices need t increase these t raise prfit margins r reduce the cst f sales, but hw wuld this impact n quality? Need fr an integrated mix that allws RSC t justify higher prices/margins. Mst imprtant part f the plan t achieve this? Evaluatin f suggested measures t increase prfit margins e.g. higher price might increase margins but wuld ttal sales/prfit levels fall if nt supprted by revised and integrated marketing plan?

4 Page 4 Mark Scheme Syllabus Paper 3 Discuss the likely impact n emplyee efficiency f increased use f technlgy in the Sugar Prductin Divisin. [16] Evaluatin 2 knwledge shwn f technlgy and pssible impacts 5 use f reasned explain hw technlgy might impact n emplyee efficiency 5 answer and 1 knwledge f technlgy and pssible impacts use f reasned explain hw technlgy might impact n emplyee efficiency answer and/r Technlgy applicatin f new prcesses, ften IT based, t increase efficiency In this, new technlgy culd: Speed up prductin prcess Allw fr autmatic cntrl Allw better cntrl ver inventries JIT? Imprve balance between prductin and demand ERP Give wrkers mre technlgy based careers. BUT: Cst wuld this be at the expense f the ther strategies the business wants t adpt? Training is essential, therwise efficiency will nt increase Jb lsses almst inevitable and wrkers are prductive and appear t be lyal. This will damage the ethical trading image f RSC. Impact likely t depend n hw these substantial changes are intrduced with supprt f wrkers/unins r nt? Hw will wrkers be treated ffered retraining and redeplyment r threatened with jb lsses? If mtivatin levels fall the increase in efficiency may nt be that great.

5 Page 5 Mark Scheme Syllabus Paper 4 (a) Using data in Table 2, calculate fr Strategy A: (i) the payback perid [2] 1 year 8 mnths attempt [2] [1] (ii) the net present value ver the first 4 years (NPV) [4] Year Net cash flws Disc factr DCF 0 (36) 1 (36) NPV [4] [3] fr 1 errr [2] fr 2 errrs [1] an attempt made t use f discunt factrs (b) Using yur results t 4 (a) and any ther infrmatin, assess whether RSC shuld g ahead with the fd retailing strategy. [14] Evaluatin 2 knwledge shwn f investment appraisal results r ther infrmatin 5 use f reasned explain hw results and ther infrmatin might influence this decisin 5 answer and 1 knwledge f results r ther infrmatin use f reasned explain hw results r ther infrmatin might influence this decisin answer and/r

6 Page 6 Mark Scheme Syllabus Paper Investment appraisal results lk prmising quick payback reduces risks f the venture and the interest cst n brrwed capital especially if ecnmic slwdwn cntinues NPV shws the present value f future cash flws at 10% discunt this seems as if it will be a prfitable prject This strategy will further vertically integrate RSC and there are benefits f this it will supply its wn retail shps, fr example, and it will have mre cntrl ver the marketing f its wn fd prducts it may reverse the decline in prfitability BUT: RSC nly seems t make a limited range f prducts will this be sufficient t stck the shps? RSC has n experience f retailing hw reliable are the cash flw estimates Carl might have unwittingly biased these; n management knw-hw abut retailing rganisatin Custmers may still nt value RSC name/branded gd highly perhaps mre fcus needs t be given t changing the prducts image rather than pening retail shps Further grwth might lead t disecnmies. Supprted recmmendatin needs t be given and evidence needs t be weighed up and cmpared. Qualitative factrs might be cnsidered t be mre imprtant if cash flw data is thught t be t unreliable. Judgement shwn n relative imprtance f factrs t be cnsidered.

7 Page 7 Mark Scheme Syllabus Paper 5 Recmmend a revised rganisatinal structure fr the Research and Develpment department. Justify yur recmmendatin. [14] Evaluatin 2 knwledge shwn f rganisatinal structures 5 use f reasned explain hw revised structure might be an imprvement 5 answer and 1 knwledge f rganisatinal structures use f reasned explain hw revised structure might be an imprvement r t explain existing prblems answer and/r Organisatinal structure the framewrk, ften hierarchical, within which an rganisatin rganises its lines f authrity and cmmunicatin. Current prblems: Rigid hierarchical structure is this suitable fr a research department where teamwrk and laissez-faire might be better ptins? Lng chain f cmmand in ne sectin t many middle managers? One team very large wide span f cntrl fr senir researcher 1. Alternatives: Delayering benefits include: shrter chain and quicker decisin making Switch researchers frm ne team t anther t equalise spans f cntrl Use matrix mdel t create teams perhaps with input frm ther departments/divisins which might imprve the chances f successful new prducts. May depend n the style f leadership used in the department Hw will the rerganisatin be handled? Impact n middle managers can they be re-deplyed? Justificatin given fr prpsed revised structure in terms f the R and D departments current rather pr recrd f new prducts.

8 Page 8 Mark Scheme Syllabus Paper Sectin B Answer ONE questin frm this sectin. Questins 6 and 7 use this mark grid: 4 marks Evaluatin 10 marks marks answer and 2 knwledge f issues shwn Issues well applied t 4 use f reasned explain answer 6 4 marks answer r 1 knwledge f issues shwn attempt t apply issue use f reasned explain answer 3 s answer and/r 6. Assess the usefulness t RSC directrs f the data in Table 3 and the ther infrmatin prvided when making the strategic decisin whether t take ver CSP. [20] Yes, it is enugh: Cst f taking ver CSP (Carl s valuatin) is less than the ttal asset value nce factry is repaired New technlgy already exists this was RSC s plan anyway Gives mre market pwer in sugar prcessing ARR quite high cmpared t glbal interest rates chance f factry being up t high capacity in 6 mnths Details f gearing suggest this is high and will have the impact f raising RSC gearing Prly mtivate staff will nt fit in with RSC Is the culture f the business t different frm RSC? S, yes, there is enugh infrmatin t reach a decisin (but a decisin des nt have t be made fr full marks). N, it is insufficient: Hw much will RSC have t pay? Carl s valuatin might nt be enugh Cmbined market share will this break gvernment s cmpetitin plicy? Hw des the prfitability f CSP prcessing factry when perating at capacity cmpare with RSC s? Payback and NPV f this investment wuld have been useful e.g. t cmpare with the retail shp strategy What wuld the takever raise RSC s gearing t? Will finance have t be brrwed? A cmplete decisin tree f this decisin wuld have allw a fuller assessment f risks and ptential expected values.

9 Page 9 Mark Scheme Syllabus Paper Balance f these pints Mst imprtant factrs in this Justificatin fr the verall decisin. 7 Evaluate hw Carl culd change the crprate culture f CSP if RSC takes ver the cmpany. [20] Crprate culture the values, believes and attitudes f managers/emplyees the way things are dne arund here Obviusly there are different cultures: RSC: ethical trading give examples CSP: lack f training d nt value emplyees highly Lw mtivatin f emplyees supprts pint abve Pssibly crrupt managers Lw quality custmers are nt a pririty Emphasis n efficiency by using latest technlgy hard HRM? but labur prductivity still lw Changing culture: New cde f cnduct fr CSP managers / wrkers Full training f emplys and training f all wrkers / managers abut the new cde RSC managers must set gd example Replace existing CSP managers and/r wrkers but will this cnflict with ethical cde f RSC? Is it necessary t change culture cld CSP be run as a separate divisin under its wn name? Essential t change apprach f management as this will impact n wrkers behaviur and mtivatin t May have t change/replace/redeply senir management within CSP.

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