Define the term 'transformation process'.

Mark scheme

Marking points from the official mark scheme (Feb/Mar 2021). The mark or mark type is shown in brackets.

1. [2] Changing/converting inputs/factors of production into outputs (2)
2. [1] Changing/converting inputs/factors of production (1)
3. [1] Producing outputs (1)
4. [1] Process of adding value (1)
5. [3] Developed explanation of two ways in which a business could improve its intellectual capital.
6. [2] Developed explanation of one way or partial explanation of two ways in which a business could improve its intellectual capital.
7. [1] Partial explanation of one way or a list of two ways in which a business could improve its intellectual capital.
8. Answers could include: Train existing workers to give them new skills/knowledge. Recruit external employees with new/additional knowledge/experience. Develop better information systems e.g. databases to more effectively manage (store and retrieve) data. Increase R&D. Gain patents, copyright, brand names and trademarks. Improve links with suppliers. Improve links with customers.