TCLA Vacation Scheme Applications Discussion Thread 2024-25

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Any guidance for this question please? ‘what is your understanding of how a business generates and maintains a profit?' Thank you!
i would consider the practical ways in which a business can increase its revenue without necessarily just increasing costs, or how it reduces costs without reducing revenue.

Provide practical examples (innovation, diversification of service/products, technology to increase productivity etc) and maybe even use examples of how specific businesses have done that.
 
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