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Recognition simply means “to spot something”. Usually this will be in the context of:
- Recognising some key information in a case study
- Recognising the best theory/concept to use when tackling a business problem
Unfortunately too many students throw marks away because they fail to recognise useful information and/or correct theories.
Too often, when instructed to read a case study or other material in an examination, students choose (from some kind of “Death Wish”) to ignore case material and just answer the question from their own general knowledge. Not a clever strategy!
Then again, you will find students who choose an entirely inappropriate (i.e. wrong) theory to help them answer a question. They may well have a wonderful understanding of the theory, but it’s just doesn’t help to answer the question!
Task
In each of the following problems, identify one theory/idea from the unit which would help you to tackle the problem. Compare your answers with other students in your group.
- A business wants to improve the image of its products
- Two businesses are finding it hard to cope with the degree of competition in the market
- A government thinks that inflation is too high at the moment
- A business is worried about exporting goods to France
- A PLC is thinking of shutting down one of its factories and wants to know who it should consult first
- A business wants to increase the profit margin on its goods
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