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WorksheetsBON PLC PAPER 1
Total questions: 45
Worksheet time: 34mins
Employees hired for a limited period of time or until the completion of a project.
Gig Economy
Temporary Workers
Profesional Core
Outsources
to the extent to which a brand name is recognized or well-known to its potential market audience
Brand
Brand awareness
Brand loyalty
Branding
the ability of BON to generate sufficient revenue and manage costs effectively in the long term, while also contributing positively to the economic well-being of its stakeholders
Ecological Sustainability
Social Sustainability
Human Sustainability
Economic sustainability
What is the definition of an interest rate?
The amount charged by a borrower to a lender for the use of assets
The amount charged by a lender to a borrower for the use of assets
The percentage of the principal amount charged by a borrower
The percentage of the principal amount charged by a lender
What is a landfill site used for?
Composting waste materials
Disposing of waste materials by burial
Recycling waste materials
Burning waste materials
Who is a line manager in a company?
An employee who directly manages other employees and operations
An employee who handles customer service
An employee who oversees marketing strategies
An employee who manages the company's finances
What does the term 'location' refer to in business?
The virtual space where a company operates
The financial status of a company
The number of employees in a company
The physical place where a company conducts its operations
What is a public limited company known for?
Being privately held
Having unlimited liability for shareholders
Having no restrictions on shareholders
Being publicly traded
What is a reservoir?
A water recycling facility
A large natural or artificial lake used as a source of water supply
A water treatment plant
A water distribution center
What are temporary workers hired for?
To work full-time permanently at a company
To oversee company operations
To handle busy seasons or lend specialty knowledge to complex projects
To manage company finances
What is regarded as a significant challenge by BON's directors?
Environmental sustainability
Financial management
Marketing strategies
Employee retention
What is the primary reason BON converted from a private limited company to a public limited company in 2016?
To decrease operational costs
To raise finance for expansion
To reduce environmental impact
To decrease the number of temporary workers
In the context of BON's operations, what potential issue might arise if the company were to engage in greenwashing?
Increased festival attendance
Damage to reputation and credibility regarding environmental sustainability efforts
Decreased operational costs
Improved relationships with farmers
Which of the following aspects is NOT mentioned as a requirement for each festival site organized by BON?
Security fencing
Camping space
Food vendors
Waste bins
What type of company is Before One PLC (BON)?
Partnership
Private limited company
Sole proprietorship
Public limited company
What are the key challenges faced by BON in maintaining environmental sustainability?
Lack of resources
Regulatory compliance
Public perception
All of the above
How does BON ensure employee retention during the festival season? (choose 3)
Offering bonuses
Providing flexible work hours
Creating a positive work environment
None of the above
What measures does BON take to ensure financial stability during the festival season?
Cost-cutting strategies
Seeking sponsorships
Increasing ticket prices
All of the above
What are the primary factors contributing to BON's success in the festival industry?
Effective marketing strategies
Strong financial backing
Quality artist lineup
All of the above
What impact does BON's festival season have on the local economy?
Boosts tourism and hospitality sector
Creates employment opportunities
Generates revenue for local businesses
All of the above
How does BON ensure the safety and security of festival attendees?
Hiring professional security personnel
Implementing strict entry checks
Providing emergency medical services
All of the above
Which event had a significant impact on the music festivals industry, leading to major disruptions and changes in operations?
Climate change
Economic recession in Europe
Technological advancements such as artificial intelligence (AI)
The COVID-19 pandemic
What payment method does BON offer to attendees for cashless transactions?
Cheque
Debit Card
Cash
Credit Card
Where does BON send festival waste after each event?
Composting facility
Incinerators
Landfill site
Recycling centre
What id the disadvantages for BON of employing temporary workers (lines 6 – 7) for its music festivals.
Flexibility
Cost savings
Specialized skills and expertise
Lack of continuity and stability
What is the advantages for BON of employing temporary workers (lines 6 – 7) for its music festivals.
Dependency on external expertise
Quality and consistency concern
Limited employee loyalty and engagement
Specialized skills and expertise
What are the interests of permanent employees (line 6) as internal stakeholders of BON.
Job security
Career development and advancement opportunities
Fair and competitive pay and benefits
More profit to have deviden
Apart from share capital, suggest two suitable sources of finance for BON to fund its long-term expansion
Loan capital
Business angels
Retained Profit
Government grants and subsidies
Identify two revenue streams for BON
Sponsorships deals
Rent paid by vendors
Camping charges to campers and glampers
Merchandise sales.
Describe two suitable source of finance for BON to fund its music festivals
Bank loans
Corporate sponsorship deals and brand partnerships
Investment from private investors (such as business angels)
Crowdfunding campaigns
Suggest reasons why BON may have faced liquidity issues during the COVID-19 pandemic (choose 3)
Cancellation of music festivals
Refunds of pre-booked ticket sales
Operational costs and overhead expenses
No temporary worker available
Why brand recognition is important?
To attracting attendees
To attracting sponsors
To attracting suppliers
To attracting financiers
Suggest promotional strategies for BON to increase ticket sales of its music festivals (choose 3)
Social Media Marketing
Influencer partnerships and sponsorship deals
Referral programmess and customer loyalty rewards programmes
Television, Billboard, Radio
Outline the importance of location for BON
cater to the needs and preferences of its target audience
ensuring operational efficiency and regulatory compliance (including environmental standards)
why the location decision is strategically important to BON? (choose 3)
Customer accessibility
Environmental and social considerations
Customer experience for unique venues, iconic and memorable
To get lower cost
Explain two factors that affect the choice of location for BON
The demand from the artist
Compliance with local regulations to obtain necessary permits or licenses to run live music events
Accessibility and transportation for music goers (customers)
Personal reason from stakeholders
Explain three possible strengths of BON (in the contect of pre release statement)
Well established (23 years)
Limited liability helps to build investor confidence and can give BON access to much-needed finance to fund its expansion
Over-reliance on temporary workers and freelancers for its music festivals
Established relationships with suppliers
The seasonal nature of the business
Explain three possible weaknesses of BON.
Established relationships with suppliers
Environmental sustainability
Over-reliance on temporary workers and freelancers for its music festivals
The seasonal nature of the business
Explain three advantage for BON of operating as a seasonal business
High revenue potential based on peak demand period
Lower overhead costs to reduce full time employees
Flexibility to concentrate its efforts and resources on planning, organizing, and executing high-quality music festivals during the peak season.
significant financial volatility and possible cash flow problems during much of the year.
challenges in recruiting, training, and retaining skilled staff and talent to support their operations during the peak festival season.
Explain three disadvantage for BON of operating as a seasonal business
Lower overhead costs
challenges in recruiting, training, and retaining skilled staff and talent to support their operations during the peak festival season.
gnificant financial volatility and possible cash flow problems during much of the year
intense competition and risks within the music festival industry in seasonal periods
focus to concentrate its efforts and resources on planning, organizing, and executing high-quality music festivals during the peak season.
Calculate the total annual value of BON’s direct costs the five music festivals held each year (lines 8 – 10).
$350.000
$4.2 million
$250.000
$1.75 million
This refers to the money or income coming into the business from a particular activity over a period of time.
Revenue
Profit
Revenue Expenditure
Revenue Stream
short-term and specific goals of a business with definitive timelines for specific functional areas of an organization
Strategic objectives
Tactical objectives
vision statement
mission statement
which of the following are Internal growth?
Franchise
Merge
Retained Profit
Sale Assets
Which following is external stakeholder of BON?
Farmer
Directors
Freelancer
Permanent Staff
