IGCSE, A Level Business Student Forum

[KN]: One benefit to a fashion designer would be increased sales.
[APP]: For example, if a fashion designer identifies their customer's needs they would be able to create clothes that match the customers taste and would be able to fulfill customer demands.
[AN]: Thus, this would lead to increased ...

[KN]: Increase in consumer income makes consumer less sensitive to price making luxury car manufacturer to be able to charge higher prices without losing many customers.
[APP]: For example, if a luxury car manufacturer adds new features to luxury cars like installation of LED lights in the car ...

[KN]: Building customer relationship is important so that customer loyalty can be gained.
[AP]:For example, if a 5-star hotel enhances it's services by offering a tour to the customers or by making them feel valued and by offering them discounts, room delivery services or complimentary breakfast ...

[KN]: One feature of Taylor's motivational theory was that workers are motivated my financial incentive i.e. piece rate system where pay is directly linked to individual output.
[APP]: For example, if in a furniture shop an employee produces many wooden chairs in a day in less time he/she would be ...

[KN]: Higher productivity is important as higher productivity leads to more output which also allows business to pay higher wages to employees.
[APP]: For example, in a car manufacturing business if workers produce more cars per day this would lead to more cars being made in less time (more output ...

[KN]: Providing good social facilities at work like a comfortable environment can make an employee feel valued and helps satisfy their social needs (level 3 of Maslow).
[APP]: For example, in a large office having canteen and a comfortable resting spot allows employees to relax and interact with ...

[KN]: Job satisfaction is about how happy or motivated an employee feels at work (intrinsic motivator) while job security only gives you the assurance that the employee will have the job even if they aren't motivated (extrinsic motivator).
[APP]: For example, a teacher may feel proud when students ...

[KN]: High labour turnover may make attracting and recruiting new people more difficult.
[APP]: For example, if more people start resigning from a clothing store, former employees may bad mouth or speak negatively about the company.
[AN]: Thus, this would worsen the reputation of the business and ...

[KN]: A well-motivated workforce can lead to higher productivity which means higher output of work.
[APP]: For example, in a restaurant motivated employees may provide faster and better services with a positive attitude.
[AN]: Thus, this can attract more customers and also lead to customer loyalty ...

[KN]: A person might choose to work to satisfy social needs, a desire to interact with others and build relationships.
[APP]: For example, a person working professionally as a doctor, engineer may feel respected, appreciated and valued by others.
[AN]:Thus, this recognition can increase their self ...