Edexcel Business A Level Revision

A strong culture - is one which is deeply embedded into the ways a business or organisation does things. With a strong culture, employees and management understand what is required of them and they will try to act in accordance with the core values. A weak culture - can arise when the core values are not clearly defined, communicated or widely accepted by those working for the organisation.  It can also occur if there is little alignment between the way things are done and the espoused values. This can lead to inconsistent behaviour of people in the organisation which in turn results in inconsistent customer experiences! Strong Culture Weak Culture Staff respond positively to culture values Little alignment with culture values Shared sense of responsibility towards vision, mission and objectives Employees have to be forced to perform duties Motivated and loyal workforce Greater management control...

Exchange rate - is the price of one currency expressed in terms of another e.g. £1 = $1.65. This means that an American would need to pay $1.65 to buy each £... or, we would need to pay 61p to buy each $. Most exchange rates 'float', so their price (exchange rate) may go up or down. If the exchange rate goes down, there is depreciation . If it goes up, there is appreciation. Exchange rate of the £ What happens…? £ Rises   ^ If the exchange rate of the pound changes from £1 = $1.75 to              £1 = $2.00, the pound is said to be ‘stronger’ or has ‘risen’. The correct term is “ appreciation” . Each pound can now buy more dollars than it did before. £ Falls   v If the exchange rate of the pound changes from £1 = $1.75 to              £1 = $1.50, the pound is said to be ‘weaker’ or has ‘fallen’. The correct term is “dep...