IGCSE, A Level Business Student Forum

Q8. Analyse why a new hairdressing business will need a factor of production of your choice. [3]

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Possible Structure:
[KN]
[AN]
[AN+]

KN: One factor of production required by the hairdressing business is employees in order to carry out the performance of the business
AN: If there is no labour (unskilled) than the environment of the hairdressing shop will be very unhygienic and so many customers will be resilient to come at that shop which will decrease customer base of this hairdressing shop. Thus, decrreasing profit of this business too.
AN+: When businness is loosing customers it will have to do more advertisements and so there will be loads of wasteges of resources and the business will have a negative cash flow due to which it won't be able to achieve finacial stability.

OR
KN: One factor of production required by the business is entrepreneurship as entrepreneurs are the main people to start the hairdressing business and bring in innovative and creative ideas into the business
AN: With the help of their innovative ideas the hairdresser business is able to offer diverse products and services to the customers
AN+: When customers have loads of options to choose from it will be easy to find some product or service of their choice and thus more customers will be attracted towars prchasing goods and services from that business

This one is hard!

[KN] the owner needs to recruit labours for the hair dressing business
[AN] they would work professionally and train new employees as well
[AN+] thus, it would not only improve the efficiency of the salon but also reduce it's training costs

KN: A new hair dressing business requires skilled labour
AN: Skilled Labour will provide high quality services
AN+: Customer will be satisfied and hence result in brand loyalty

[KN]FOP are the ingredients to produce any product/render any service.
[AN] hairdressing buisness need fop for employing the workers.
[AN+]And also for skilled humans

[KN] A new hairdressing business may need labour as a factor of production as hairdressers are required for this service business. [AN] Without this factor of production the hairdressing business may fail to provide it's services causing the business to become unable to run. [AN+] This proves that, labour is a key factor of production in this particular business as other factors of production such as capital may not be able to meet the specific needs of the customers of such a business.

(Kn) a hairdressing business will need labour.
(An) a hairdressing business sells the service of hair care
. In order to provide this service it needs labour to do so. So the business will need the FOP of labour.
(An+) without labour the business will be unable to provide the service and so the entire purpose of the business activity won’t be carried out.

[KN] FOPs (factor of productions) help the business to do its operations. So every business need some FOPs to run. If we talk about a newly
established hairdressing business then the major FOP it require is labor.
[AN] After hiring the labor they will be given the training ( if required ) to give the quality services to clients.
[AN+] When the hairdressing business will give the quality services the clients will be satisfied they will gain the factor of customer loyalty
thus attracting more clients which will lead towards the generation of higher revenue.

[KN] a hairdressing business should require best location
[AN] as it should be at a location which is more accessable for customers
[AN+] business may be popular as there will be more visitors

[KN]: A new hairdressing business would need employees to carry out hairdressing tasks.
[AN]: If the workers are experienced and professional in their job, it would build customer loyalty.
[AN+]: The satisfied customers would promote the business to their relatives and friends, attracting more customers and increasing sales.

[KN]Hairdressing is a skilled profession that needs expertise and knowledge i.e. skilled labour.
[AN]Professional hairdressers should be experienced and knowledgeable in various hairdressing tasks. They also must be up to date in new styles and techniques of the industry.
[AN+]The business may become popular and can gain more market share.

(Kn) skilled labour would be required for the saloon.
(An) as proper cutting and hair styling requires speciality and training in that field to provide high quality service.
(An+) quality services wiuld attract consumers again and again to visit the same sallon hence generates brand loyalty .