Analyse the possible purposes of business activity. [6]

[Sir Afzal Shad]

1. Analyse the possible purposes of business activity. [6]

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

[KN]
[AN]
[AN+]

[Kumail Alvi]

[KN] Innovation and Development
[AN] Businesses tend to bring new ideas, goods, and services to the market.
[An+] Innovation enables businesses to stay competitive, adapt the market changes, and keep the maximum market share which is among their primary goals.

[KN] Profit Generation.
[AN] Primary purpose of a business is to generate profits and also sustain them.
[AN+] Profits enable businesses to reinvest in the business and expand it.

[Humzah Zafar]

(KN) Making use of scarce resources
(AN)These depleted resources can be used by the business to produce goods and services to meet customer demands and expectations. This will most definitely lead to higher productivity as there will be less wastages in production.
(AN+)Thus this will also lead to efficient utilisation of scarce resources.


(KN) Making finished goods more desirable for consumers
(AN)This involves many stages and these stages are where value is added to these goods by e.g using superior or high quality material to produce them. This makes the product appear more desirable to the consumer.
(AN+)Thus may lead to better brand image and may also lead to customer loyalty for the business.

[Syed Raza]

[KN] Economic Growth and Development of Products
[AN] Business can work more on the economic growth by increasing the productivity and more use of better quality resources and meeting the demands of the customers.
[AN+] Thus leading to higher output as will be added to Countries GDP and thus increasing customer satisfaction.

[KN] Investments
[AN] Business can invest their capital into different sectors which will increase their profits.
[AN+] thus expanding the business further.

[khuram khan]

[KN] To make a product that fulfills the needs and wants of the consumer
[AN] Thus the business purpose is to make a product that covers a wider customer base and also satisfies the customers
[AN+] Hence the business serves the process of manufacturing a product of their demand and because of this the consumer becomes loyal to that business cause they want a product of the right quality, right price, and at the right time.

[KN]The business is supposed to fully utilize all resources efficiently to produce the maximum while using the minimum resources
[AN] This allows the business to make a larger number of products as they now have more resources which helps them in increasing their output.
[AN+]Thus this will ensure that the quality of the product is top notch and the people get to enjoy high living standards as due to less wastage the business would be in a position to produce more and the people enjoy a wider variety of choices.

[Syed Mustafa Ali]

[KN] Business engage in various activities for the purpose of generating profit.
[AN] It's the bloodline of the business which keeps it running and continue its operations. Also it helps the business in its growth/expansion.
[AN+] This helps the business is unforseen challenges e.g a recession. Also it's the reward for the entrepreneur who's running the business.
[KN] The purpose of business activities can also be to contribute to economic growth.
[AN] As business activities leads to employment by providing job opportunities to skilled working thus reducing the unemployment rates.
[AN+] This leads to more demand for goods and services which in returns leads to a boom in economic growth.

[Hadia Zia]

[KN] Satisfy customer needs and wants
[AN] Producing according to customer desires will gather a large pool of customers which will create a strong customer base.
[AN+] thus this will make the customers loyal to the business and they wont go to the competitors which will develop brand image and increased market share and also will ensure future growth.

[KN] Creates jobs which increases productive potential to produce output.
[AN] when more people will be employed there will be less wastage of resources and more work could be done in less time which will increase total efficiency.
[AN+] thus this will lead to a rise in output and cost saving. This will provide the business with the incentive to expand and invest.

[Talha Asim]

(Kn) convenience to customers (an) the goods are produced and supplied by the business to the target customers rather than them having to make it themselves (an+) this can be time saving for consumers and a source of income for the business
(Kn) gaining profits (an) the main purpose of every business is to earn profits through provision of goods or services (an+) this can provide them with funds to expand or give back to shareholders and is a measure of success

[hafsa kashif]

[kn] the main purpose of business activity is to create a product consumers want and are satisfied with
[an] as they want to gain max profits
[an+] by selling the product for more then it was made for
[kn] another reason is to contribute towards economic growth
[an] by providing jobs
[an+] which will increase employment of a country and increase its efficiency

[Ayesha imran]

[kn] profit maximization
[an] investors recieve thier share and are encouraged to invest more
[an+] extra profits generated can be retained and used later on for expansion
[kn] distinguish a business from others for eg through better quality
[an] more customers are attracted increasing market share
[an+] business becomes the market leader and therefore trend setter

[Salman Khalid]

[KN]business activity is done to meet customer needs and wants for goods or services
[AN]this would create competition in the economy and customers will have a variety of products to chose from
[AN+]they would not be fooled by high prices and low quality as they would have options to chose the most cost efficient product

[KN]business activity is mainly done to provide shareholders and owners some tasty money
[AN]this would help improve the standards of living of their lives and they could use that same money to invest back into the business
[AN+]this would help expand the business and produce much more of that tasty money

[Maham fatima]

[KN] To fulfill needs and wants of consumers
[an] by providing the products that fulfill needs and wants of consumers a business can increase sales
[an] and hence maximize profits

[KN] to make use of scarce resources
[an] a country may not be producing at its maximum productive potential therefore, business activity allows efficient use of resources
[an] hence these resources may not be depleted

[Hussain Asghar]

[KN]making finished goods as per consumer demand.
[AN]which is done through a long process and then value added to the product so it would be mor attractive and meet consumer demand.
[AN+]thus it will help to create brand loyalty and increase brand reputation.

[KN] Business engage in various activities for the purpose of generating profit.
[AN] It's the bloodline of the business which keeps it running and continue its operations. Also it helps the business in its growth/expansion.
[AN+] This helps the business is unforseen challenges e.g a recession. Also it's the reward for the entrepreneur who's running the business.

[Soha Hussain]

1. Analyse the possible purposes of business activity. [6]

[KN]To generate profit through sales satisfying consumer/customer demand
[AN]Thus by satisfying customer preferences, the business will achieve a significant customer following forming a strong customer foundation.
[AN+]Customer loyalty is thus developed, improving the brand image, attracting more customer, further helping in future expansion.

[KN]To produce, while fully utilizing its resources, in order to achieve economic growth
[AN]thus wastage of resources is reduce, also increasing efficiency and productivity
[AN+]resulting in an increase in GDP, living standards, and improving the competition of the country in the international market

[Huma Junaid]

[KN]customer satisfaction
[AN] customers will stay loyal towards a business and wont go to competitors
[AN+]increased market dominance

[KN]diversification
[AN] reduce the dependence on one market
[AN+] the business will have long term stability and wouldn't have the risk of extreme losses