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Greggs is a modern 'food-on-the-go' retail brand - OCR - GCSE Business - Question 17 - 2021 - Paper 1
Question 17
Greggs is a modern 'food-on-the-go' retail brand. It specialises in selling sandwiches, cakes, pastries and pies. Most of these are made by Greggs, using raw materia... show full transcript
Worked Solution & Example Answer:Greggs is a modern 'food-on-the-go' retail brand - OCR - GCSE Business - Question 17 - 2021 - Paper 1
Step 1
Explain one way that employment law may affect Greggs’ employment of workers.
Answer
Employment law ensures that all 20,000 employees at Greggs are protected from discrimination based on factors like gender, disability, age, and religion. By adhering to such laws, Greggs fosters an inclusive workplace, which can enhance employee satisfaction and retention.
Step 2
Other than the government, explain one external stakeholder’s influence on Greggs.
Answer
Customers play a vital role as external stakeholders. Their preferences impact what products Greggs offers. For example, the rise in veganism has led to Greggs launching vegan options, responding to customer demand for healthier and ethical choices.
Step 3
Explain the purpose of planning business activity for Greggs’ managers.
Answer
The purpose of planning is to ensure that Greggs aligns its operations with market trends and company goals. This involves forecasting sales, managing resources effectively, and adapting to consumer preferences, ultimately helping to achieve financial targets and improving decision-making.
Step 4
Step 5
Analyse one benefit for Greggs of using market data to create new products.
Answer
Using market data enables Greggs to identify trends and customer preferences, guiding the development of new products that cater to consumer demands, such as vegan options. This strategic approach can lead to increased sales and customer loyalty by ensuring that the offerings remain relevant.
Step 6
Analyse one benefit for Greggs of business growth using each of the following methods. (i) Merger with a flour producer.
Answer
A merger with a flour producer could provide Greggs more control over its supply chain, reducing dependency on external suppliers. This can lower costs and ensure consistency in the quality of raw materials, enabling Greggs to maintain the quality of its products.
Step 7
Analyse one benefit for Greggs of business growth using each of the following methods. (ii) Takeover of a rival 'food-on-the-go' retail brand.
Answer
Acquiring a rival brand could increase Greggs' market share and customer base. This could allow Greggs to expand its product offerings and utilize synergies between the companies, leading to reduced operational costs and greater competitiveness.
Step 8
Recommend which of the two methods of business growth Greggs should use. Give reasons for your answer.
Answer
Greggs should consider the takeover of a rival 'food-on-the-go' retail brand. This method not only increases market share but also eliminates competition. Additionally, a merger with a flour producer may improve supply chain stability but is less likely to result in immediate revenue growth compared to expanding the customer base through acquisition.