Which one of the following is a barrier to international trade? Select one answer - Edexcel - GCSE Business - Question 3 - 2019 - Paper 1

To calculate the percentage increase in sales revenue from 2015 to 2016:

1. Sales revenue in 2015: £750,000
2. Sales revenue in 2016: £1,500,000
3. Increase in revenue: £1,500,000 - £750,000 = £750,000
4. Percentage increase: rac{Increase}{Original} imes 100 = rac{750,000}{750,000} imes 100 = 100 ext{%}

One method a business could use to differentiate its product is through branding. By creating a strong brand identity, including a unique logo and consistent messaging, a business can make its products stand out in a competitive market. Effective branding can evoke emotions and create a perception of value, encouraging customer loyalty.

One possible barrier to effective communication within a business is the presence of a hierarchical structure. In hierarchical organizations, messages may get distorted as they pass through various levels, leading to misunderstandings. Employees might feel hesitant to share their ideas or feedback with upper management due to fear of negative repercussions, which can hinder open communication.

Giving employees permanent contracts can have several positive impacts on a business:

1. Retention of Talent: Permanent contracts can increase employee retention, reducing turnover costs associated with recruiting and training new staff.
2. Increased Motivation: Employees with permanent contracts often feel more secure in their positions, leading to higher motivation and productivity levels.
3. Stronger Commitment: With a permanent position, employees are likely to feel a stronger commitment to the company’s goals and values, aligning their work efforts with the long-term success of the business.
4. Financial Implications: While permanent contracts can represent a financial commitment, they can also lead to cost savings in the long run due to decreased turnover and increased productivity.