Managing Resources at Live Music Events | Edexcel Business A Level Paper 3 2025 | Research Bullet 7

Описание: 📚 Edexcel A-Level Business Paper 3 2025 Revision – Managing Resources in Live Music Events 🎶

This video provides an in-depth revision guide for Bullet 7 – Managing Resources in the 2025 Edexcel Business A-Level Paper 3 research theme. Covering key business theories, case studies, and exam-style questions, this is a crucial topic that applies to multiple units across Theme 2 and Theme 3.

💡 What You’ll Learn:
✔️ Resource Management in festivals like Glastonbury, Reading & Leeds, and small independent events.
✔️ Capacity Utilisation strategies used by The O2 Arena, Wembley Stadium, and grassroots venues.
✔️ Stock Control & Just-in-Time (JIT) inventory in merchandise sales for artists like Ed Sheeran.
✔️ Total Quality Management (TQM) & Kaizen in event safety and sustainability.
✔️ Economic Influences like inflation, exchange rates, and taxation on ticket pricing and profitability.
✔️ Legislation & Regulatory Factors, including ticket resale laws and employment rights.
✔️ Competitive Environment & Market Consolidation, focusing on Live Nation’s dominance.
✔️ Corporate Strategy & Business Growth using Ansoff’s Matrix & Porter’s Generic Strategies in live events.
✔️ Quantitative Sales Forecasting, revenue predictions, and demand trends in the music industry.

🎭 Case Studies & Exam Questions Covered:
1️⃣ Resource Management Challenges in UK Festivals

Glastonbury vs. Independent Festivals – how major events secure artists years in advance while smaller festivals struggle with rising costs.
Exam Question: Assess the impact of effective resource management on the success of live music events (10 marks).
2️⃣ Capacity Utilisation in UK Live Music Venues

The O2 Arena & Wembley Stadium maximise ticket revenue, while grassroots venues face declining attendance.
Exam Question: Assess the importance of capacity utilisation in determining the financial success of live music venues (12 marks).
3️⃣ Stock Control in Live Music Events

How Ed Sheeran and other artists use Just-in-Time (JIT) inventory to manage merchandise efficiently despite Brexit trade barriers.
Exam Question: Assess the impact of effective stock control on the profitability of live music events (10 marks).
4️⃣ Quality Management & Customer Experience in Festivals

Glastonbury’s sustainability strategy vs. Astroworld’s crowd control disaster.
Exam Question: Assess the impact of Total Quality Management (TQM) on the long-term sustainability of live music events (12 marks).
5️⃣ Economic Influences on the UK Live Music Industry

How inflation, VAT on tickets (20%), and exchange rate fluctuations affect festival pricing and international touring.
Exam Question: Assess the impact of inflation (or exchange rates or taxation) on the UK live music industry’s contribution to lowering unemployment (10 marks).
6️⃣ Legislative Impacts on the Live Music Industry

Taylor Swift’s Eras Tour and UK government proposals to cap ticket resale prices.
Employment rights & environmental regulations affecting festivals like Glastonbury & Wireless.
7️⃣ Competitive Environment & Market Consolidation

Live Nation controls 70% of UK festival revenues, impacting independent festival survival.
Exam Question: Assess the impact of market consolidation on independent festivals within the UK live music industry (12 marks).
8️⃣ Corporate Strategy & Business Growth in Live Events

Ansoff’s Matrix: How Glastonbury’s sustainability strategy is a differentiation approach.
Porter’s Generic Strategies: Cost leadership vs. premium festival pricing (e.g., BST Hyde Park vs. Reading & Leeds).
9️⃣ Quantitative Sales Forecasting & Pricing Strategies

How Glastonbury and other festivals use time-series analysis & demand forecasting to predict ticket sales and merchandise trends.

🔎 Why This Matters for Your Exam:
Managing resources is essential for business success, particularly in live events where poor planning leads to financial losses or event cancellations. This exam topic spans multiple A-Level units, making it highly examinable across Paper 3 case studies.

📌 Watch until the end for key exam tips on applying these case studies in 10, 12, and 20-mark answers!

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