Global Fresh Solutions operates in multiple sectors. Their primary operation involves farming vegetables in vertical gardens in urban areas. These raw materials are then transformed through their food processing facilities before being sold to high-end restaurants. Their transformation process is highly efficient.
Define the term 'transformation process'.
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Tech Support Plus is a growing IT services company established in 2025. The company has recently expanded and now has separate functions for different business activities. The CEO wants to ensure all functions work together effectively to achieve the company's objectives.
State two business functions that need to work interdependently.
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Blue Ocean Manufacturing has traditionally been a labour-intensive business, employing over 200 workers in their textile factory. However, in 2025, they are transitioning to become more capital intensive, investing in automated machinery and reducing their workforce.
Define the term 'capital intensive'.
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Global Resources Corporation operates across multiple sectors in 2025. The company started with mining operations in Australia but has now expanded into processing minerals and providing consulting services to other mining companies. The CEO is considering further expansion into technology services.
State two business sectors in which companies can operate.
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Maria Chen is a successful entrepreneur who started TechFin Solutions in 2025. Her company has revolutionised mobile banking apps for small businesses. As an entrepreneur, Maria had to demonstrate several key characteristics to succeed in the competitive fintech market.
State two typical characteristics of an entrepreneur.
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Global Tech Corp encourages intrapreneurship among its employees. In 2025, a team of software developers used their allocated innovation time to create a new cloud storage solution, which has become one of the company's most successful products.
Define the term 'intrapreneurship'.
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Alex Rivera is planning to launch EcoDelivery in 2025, an electric vehicle delivery service for urban areas. While developing his business plan, Alex has identified several key reasons for starting his own business rather than working for an existing delivery company.
State two non-financial reasons for starting a business.
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Maya Singh started her online tutoring platform TutorConnect in 2025. During the first six months of operation, she encountered several challenges that are common to new businesses.
State two problems that new businesses may face.
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Before launching Mountain Gear Co. in 2025, James conducted extensive market research to understand customer preferences and competitor offerings. This research was crucial for his business plan, which he needed to secure funding from investors.
Define the term 'business plan'.
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