Business Studies June exam P1 (Medium)

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What does the secondary sector primarily do with raw materials?

Use them for storage purposes

Engage in professional services

Sell them directly to consumers

Transform them into finished or semi-finished products (correct)

Which of the following is an example of a tertiary sector activity?

Sorting and Grading

Indulging in informal credit

Manufacturing machinery

Transport and Communication (correct)

What is the main role of auxiliary services in relation to the primary, secondary, and tertiary sectors?

Generate new products through manufacturing

Focus on professional services

Bridge various gaps such as spatial, time, quality, and quantity (correct)

Deliver direct services to consumers

What is a common characteristic of entities in the informal sector?

Operate outside the official regulatory framework Signup and view all the answers

Which sector focuses on providing essential services like healthcare and education?

Public Sector Signup and view all the answers

What is a distinguishing factor of the private sector compared to the public sector?

Operates for profit Signup and view all the answers

What is the main purpose of understanding the business environment components?

To identify the internal and external pressures and influences impacting the business Signup and view all the answers

What is included in the micro environment of a business?

Elements within the company that impact its ability to serve its customers Signup and view all the answers

What is the primary difference between a company's goals and objectives?

Goals provide direction, while objectives are milestones Signup and view all the answers

What is the purpose of a company's vision statement?

To serve as the guiding star for all strategic planning Signup and view all the answers

What is the purpose of a company's mission statement?

To outline the company's primary activities and market purpose Signup and view all the answers

What are the three main segments of the business environment?

Micro, market, and macro Signup and view all the answers

How can poor quality roads and transport facilities impact business operations?

Hinder business operations Signup and view all the answers

What impact can a negative balance of payments have on a country's economy?

Impact import costs and economic stability Signup and view all the answers

How do mechanisms like social grants influence consumer spending in lower-income groups?

Boost consumer spending temporarily Signup and view all the answers

What role do technologies like EPOS systems and online banking play in daily business operations?

Increase operational efficiency Signup and view all the answers

Why is political stability important for business growth?

Fosters business growth Signup and view all the answers

How do demographic shifts impact market dynamics?

Play a significant role in determining market needs Signup and view all the answers

What is the primary role of the micro environment in a business?

Directly controlling internal elements Signup and view all the answers

Why is understanding local customs important for businesses operating internationally?

Enhances networking and business relationships Signup and view all the answers

How can high unemployment rates impact a country's economic output?

Reduce productivity and increase training costs Signup and view all the answers

What influence do advancements in communication technologies have on businesses?

Facilitate faster and more reliable communication Signup and view all the answers

What are the societal forces included in the macro environment described in the text?

Economic conditions, social trends, technological innovations, legislative frameworks Signup and view all the answers

Which element directly influences the physical operations and logistics of a business in the physical/natural environment?

Landscape, site, and buildings Signup and view all the answers

What role do intermediaries play in the market environment?

Delivering products to consumers Signup and view all the answers

Customers’ purchasing decisions are influenced by a blend of factors, except:

Technological innovations Signup and view all the answers

Which need does 'Self-Actualization' represent in Maslow’s Hierarchy of Needs?

Personal growth and fulfillment Signup and view all the answers

What does Maslow’s Hierarchy of Needs NOT include?

Technological Needs Signup and view all the answers

An essential aspect for businesses is to monitor environmental __________ to effectively respond to opportunities and threats.

Trends Signup and view all the answers

Which Part of the External Environment directly interacts with the business?

Market Environment Signup and view all the answers

What must businesses do to respond effectively to changing market conditions?

Adapt management strategies Signup and view all the answers

Which groups are part of the Civil Society interactions influencing businesses?

Media, local communities, financial entities, citizen action groups Signup and view all the answers

What is the primary function of the primary sector?

To extract and harvest natural resources Signup and view all the answers

Which of the following is an example of a macro environmental factor?

Economic factors Signup and view all the answers

What is the market environment composed of?

Consumers, suppliers, agents, and competitors Signup and view all the answers

What is the impact of economic factors on business operations?

Affect consumer spending and business costs Signup and view all the answers

What is the role of technological advancements in business?

To create business opportunities and improve operational efficiencies Signup and view all the answers

What is the function of the Electronic Point of Sale (EPOS) system?

To enhance inventory management and customer transactions Signup and view all the answers

What is the impact of demographic shifts on business operations?

Changes in market demands and adjustments in product offerings and marketing strategies Signup and view all the answers

What is the role of the secondary sector in the economy?

To manufacture goods Signup and view all the answers

What is the scope of the macro environment?

External to the business Signup and view all the answers

What is a positive organizational culture most likely to foster?

Motivation and productivity Signup and view all the answers

Which of the following is not considered an organizational resource?

Customer satisfaction Signup and view all the answers

According to the POLC framework, what is the purpose of the 'Controlling' activity?

Applying corrective measures for alignment with goals Signup and view all the answers

What is the primary role of the 'General Management' function?

Overseeing and synchronizing all other business functions Signup and view all the answers

Which of the following is not considered a part of the 'Marketing Function'?

Producing finished goods Signup and view all the answers

What does the 'Financial Function' primarily manage?

The financial health of the company, ensuring adequate funding and financial planning Signup and view all the answers

Which of the following best describes the 'Micro Environment' of a business?

The internal environment of the business over which management has control Signup and view all the answers

What is the primary purpose of the 'Purchasing Function'?

Procuring all necessary materials and services at the right price, quality, and time Signup and view all the answers

What is the primary role of the 'Public Relations Function'?

Managing the public image and community relations of the business Signup and view all the answers

What is the primary role of the 'Human Resource Function'?

Recruiting, training, and maintaining a qualified workforce Signup and view all the answers

What characteristic distinguishes businesses in the formal sector from those in the informal sector?

Regulatory compliance Signup and view all the answers

In the tertiary sector, which activity plays a crucial role in ensuring the smooth movement of goods and information?

Transport and Communication Signup and view all the answers

Which gap do auxiliary services address by holding products until they are needed?

Time gap Signup and view all the answers

Which sector focuses on innovation, profit generation, and significant employment creation?

Private Sector Signup and view all the answers

What is the main role of the secondary sector in the economy?

Processing raw materials into finished products Signup and view all the answers

How do businesses in the tertiary sector contribute to the economy?

Delivering services and distributing finished products Signup and view all the answers

What impact can a negative organizational culture have on a business?

Reduce motivation and lead to conflicts Signup and view all the answers

Which of the following is primarily responsible for converting raw materials into finished goods in a business?

Production Function Signup and view all the answers

In the POLC framework of management, which activity is related to directing and motivating staff to follow business plans?

Leading Signup and view all the answers

Which function within a business is responsible for managing the public image and community relations?

Public Relations Function Signup and view all the answers

What is the purpose of the macro environment in the context of business?

Influencing the business indirectly through societal forces Signup and view all the answers

Who oversees and synchronizes all other business functions to ensure the company’s objectives are achieved?

General Management Signup and view all the answers

Which resource includes data, analytics, software, and hardware that help a business stay competitive and efficient?

Information and Technological Resources Signup and view all the answers

In business, what does the term 'Organisational Structure' primarily refer to?

Hierarchical arrangement of roles and responsibilities Signup and view all the answers

What role does the Purchasing Function play in a business?

Procures necessary materials at the right price, quality, and time Signup and view all the answers

How can high unemployment and health issues like HIV/Aids impact a country's productivity and economic output?

By reducing the workforce's productivity and economic output. Signup and view all the answers

What influences consumer behavior and product preferences through customs, religion, and language?

Cultural influences Signup and view all the answers

How can the internal dynamics and norms of a business impact employee performance?

Lead to conflicts and reduce motivation Signup and view all the answers

What technology can facilitate faster and more reliable communication but also requires businesses to protect data integrity and privacy?

Telecommunications infrastructure Signup and view all the answers

What does a negative balance of payments, where imports exceed exports, primarily impact?

National currency strength Signup and view all the answers

Which factor dictates market conditions and consumer spending behaviors through stages like Expansion, Peak, and Recovery?

Business cycle stages Signup and view all the answers

What factor must businesses consider in terms of their environmental impact related to air, water, and noise pollution?

Environmental laws compliance Signup and view all the answers

What can reduce labor needs but increase efficiency through the adoption of new technologies like robotics and automated systems?

Technological advancements Signup and view all the answers

What directly shapes the micro environment of a business and comprises elements over which the business has direct control?

Management's strategies and decisions Signup and view all the answers

In which environment do elements like company registration, tax registration, and labor law compliance fall under?

Institutional environment Signup and view all the answers

What plays a crucial role in fostering business growth by reducing uncertainty and risk?

Political stability Signup and view all the answers

How do strategies within the micro environment, like pricing and product development, influence market dynamics?

By indirectly affecting supplier relations Signup and view all the answers

What is the main role of the macro environment in shaping business operations?

Indirectly influencing business decisions Signup and view all the answers

How do technological advancements like automation and online shopping platforms affect a business's operations?

By altering operational efficiencies Signup and view all the answers

What impact do changes in demographic trends have on business demands?

Necessitate adjustments in product offerings Signup and view all the answers

In the context of business sectors, which primary sector activity involves ocean and freshwater fishing?

Fisheries Signup and view all the answers

How does the balance of payments influence a country's economic stability?

Affects currency value and cost of imported goods Signup and view all the answers

What is the primary role of legal frameworks in the business environment?

To influence compliance requirements and business practices Signup and view all the answers

What distinguishes the primary sector from the tertiary sector in terms of activities?

Tertiary sector provides essential services like education and healthcare Signup and view all the answers

What is the main impact of economic expansions and recessions on business operations?

Indirectly influencing business operations by affecting consumer spending and investment levels Signup and view all the answers

How do advancements like EPOS systems enhance business operations?

By providing valuable data for marketing and transactions Signup and view all the answers

What is the main difference between a company's vision and mission statements?

Vision is a broad aspirational concept while mission outlines specific objectives Signup and view all the answers

Which of the following is NOT an element of the micro environment?

Government policies Signup and view all the answers

What is the primary purpose of objectives in strategic planning?

To serve as milestones in the strategic planning process Signup and view all the answers

Which of the following is a characteristic of the micro environment?

Elements under the direct control of the company Signup and view all the answers

What is the primary purpose of a company's goals?

To outline broad primary outcomes Signup and view all the answers

Which of the following is NOT a psychological factor that influences customers' purchasing decisions?

Education Signup and view all the answers

Which sector of the economy focuses on providing essential services like healthcare and education?

Tertiary sector Signup and view all the answers

Landscape, site, and buildings directly affect which aspect of a business?

Physical operations and logistics Signup and view all the answers

What is the purpose of a company's mission statement?

To provide a clear direction for the organization's long-term strategies Signup and view all the answers

Which need does 'self-actualization' represent in Maslow’s Hierarchy of Needs?

Personal growth and fulfillment Signup and view all the answers

What is the main role of auxiliary services in relation to the primary, secondary, and tertiary sectors?

To support the primary, secondary, and tertiary sectors by providing additional services Signup and view all the answers

What is NOT considered an organizational resource?

Customer loyalty Signup and view all the answers

What is the primary difference between a company's goals and objectives?

Goals are long-term, while objectives are short-term Signup and view all the answers

What is a distinguishing factor of the private sector compared to the public sector?

Profit motivation Signup and view all the answers

What role do technologies like EPOS systems and online banking play in daily business operations?

To improve efficiency and accuracy of transactions Signup and view all the answers

Which element of the micro environment outlines a business's long-term direction?

Vision statement Signup and view all the answers

Which component of the micro environment provides the fundamental objectives of a business?

Mission Signup and view all the answers

Which component of the micro environment provides specific, actionable steps in the strategic planning process?

Objectives Signup and view all the answers

Which component of the micro environment provides a foundation for a business's existence?

Mission Signup and view all the answers

Which component of the micro environment is considered the aspirational concept of what a business aims to become?

Vision Signup and view all the answers

Which component of the micro environment is the broadest and provides the primary long-term outcomes a business aims to achieve?

Goals Signup and view all the answers

What is the primary role of the tertiary sector in the economy?

Delivering services and distributing finished products Signup and view all the answers

What role does the public sector play in the economy?

Operates under government control to provide essential services Signup and view all the answers

What can negatively impact business operations by imposing restrictions and requiring compliance to sustainability practices?

Water pollution regulations Signup and view all the answers

Which gap do auxiliary services address by holding products until they are needed?

Time gap Signup and view all the answers

What is a common characteristic of entities in the informal sector?

Unregistered businesses Signup and view all the answers

How do disparities in income affect the market size for different types of products?

Reduce market size for luxury goods Signup and view all the answers

What impact do changes in demographic trends have on business demands?

Changes in business demands Signup and view all the answers

What impact do high unemployment rates and health issues like HIV/Aids have on a country's workforce and productivity?

Impact overall national productivity Signup and view all the answers

What is the primary role of the secondary sector in the economy?

Transforming raw materials into finished or semi-finished products Signup and view all the answers

Which factor has a direct influence on consumer behavior and product preferences through customs, religion, and language?

Cultural influences Signup and view all the answers

What can weaken a country's national currency and impact import costs and economic stability?

Negative balance of payments Signup and view all the answers

In business, what can reduce labor needs but increase efficiency when adopted?

Adoption of new technologies like robotics and automated systems Signup and view all the answers

What technological advancements can enhance operational efficiency but also demand new skills and adaptation from businesses?

EPOS systems Signup and view all the answers

Which macro environmental factor dictates market conditions and consumer spending behaviors through stages like Expansion, Peak, and Recovery?

Business cycle stages Signup and view all the answers

How does a stable political environment impact businesses?

Promotes business growth Signup and view all the answers

What type of advancements can reduce labor needs but increase efficiency in production and operations?

New technologies like robotics and automated systems Signup and view all the answers

What is the primary role of the Public Relations Function within a business?

Managing the public image of the business Signup and view all the answers

Which management activity involves monitoring processes and outputs to ensure alignment with goals?

Controlling Signup and view all the answers

What is the main purpose of the Financial Function within a company?

Managing the financial health of the company Signup and view all the answers

Which external factor influences a business indirectly rather than directly?

Economic conditions Signup and view all the answers

What differentiates Human Resources from other business resources like Physical and Financial Resources?

Focuses on workforce recruitment and management Signup and view all the answers

In the POLC framework, which activity involves structuring resources and tasks effectively to meet business goals?

Organising Signup and view all the answers

What is the key focus of the Marketing Function within a business?

Identifying customer needs and marketing accordingly Signup and view all the answers

Which business function directly oversees and synchronizes other functions to ensure the company's objectives are met?

General Management Function Signup and view all the answers

Which segment of the business environment involves all internal factors and processes that management can control?

Micro Environment Signup and view all the answers

What is the core role of overseeing and motivating staff under the POLC framework?

Leading Signup and view all the answers

What is the main component of the market environment that includes customers, suppliers, intermediaries, and competitors?

Market Environment Signup and view all the answers

What do customers' purchasing decisions depend on?

A blend of cultural, social, personal, and psychological factors Signup and view all the answers

What is the primary role of intermediaries in the market environment?

To make the product available at the right place and time Signup and view all the answers

What is included in Maslow's Hierarchy of Needs?

Biological and Physiological Needs, Safety Needs, Belongingness and Love, Esteem Needs, and Self-Actualization Signup and view all the answers

What is the term for businesses that vie for the same customer base and provide similar products or services?

Competitors Signup and view all the answers

What is the primary role of the macro environment in the context of business?

To adapt to broader societal forces Signup and view all the answers

What is an essential aspect for businesses to monitor to effectively respond to opportunities and threats?

The macro environment Signup and view all the answers

What includes Landscape, Site, and Buildings in the physical/natural environment?

The company's physical operations and logistics Signup and view all the answers

What is the term for groups that influence or are influenced by the business, including media, local communities, and financial entities?

Civil Society Signup and view all the answers

What is the primary role of the market environment in a business?

To influence market conditions through marketing and strategic partnerships Signup and view all the answers

What are the factors that shape the operational context for businesses in the macro environment?

Economic, technological, legal, and social environments Signup and view all the answers

Which factor in the macro environment can disrupt or create business opportunities?

Technological advancement Signup and view all the answers

What is the primary role of the primary sector in the economy?

To extract and harvest natural resources Signup and view all the answers

What is the impact of demographic shifts on business operations?

Influence market demands and necessitate adjustments in product offerings and marketing strategies Signup and view all the answers

What is the role of technologies like Electronic Point of Sale (EPOS) systems in business operations?

To enhance inventory management and customer transactions Signup and view all the answers

What is the primary role of the secondary sector in the economy?

To provide finished goods Signup and view all the answers

What is the impact of economic expansions and recessions on business operations?

Influence consumer spending and investment levels Signup and view all the answers

What is the primary role of the micro environment in a business?

To influence consumer behavior and supplier relations Signup and view all the answers

What is the primary role of the tertiary sector in the economy?

Providing essential services to consumers and businesses Signup and view all the answers

Which element directly influences the physical operations and logistics of a business in the physical/natural environment?

Site and buildings Signup and view all the answers

What directly shapes the micro environment of a business and comprises elements over which the business has direct control?

Suppliers, customers, and competitors Signup and view all the answers

Which gap do auxiliary services address by holding products until they are needed?

Time gap Signup and view all the answers

What is the primary function of the primary sector?

Turning raw materials into products Signup and view all the answers

What directly influences consumer behavior and product preferences through customs, religion, and language?

Cultural factors Signup and view all the answers

What primarily influences consumer behavior and supplier relations in the market environment?

Competitor actions Signup and view all the answers

Which sector directly involves the extraction of minerals and geological materials?

Primary sector Signup and view all the answers

What factor can drastically alter operational efficiencies and market reach through innovations like online shopping platforms?

Technological advancements Signup and view all the answers

How do changes in population age, educational levels, and cultural trends impact businesses?

Influence product offerings Signup and view all the answers

In what way do advancements in technology like EPOS systems impact businesses?

Enhance inventory management Signup and view all the answers

Which economic factor directly influences consumer spending and investment levels?

Business cycle stages Signup and view all the answers

What sector is primarily involved in the cultivation of crops and rearing of animals for food and fiber?

Primary sector Signup and view all the answers

Which external factor shapes the operational context for businesses by affecting consumer spending and business costs?

Economic factors Signup and view all the answers

How do business strategies within the micro environment maintain market position in response to changes in consumer preferences?

By adapting pricing Signup and view all the answers

What is the primary role of the market environment in relation to businesses?

Indirect effect on business operations Signup and view all the answers

What is the primary purpose of a business's vision statement?

To provide a clear and concise statement of the business's future goals Signup and view all the answers

What are objectives in the context of business planning?

Specific, actionable steps that define how goals will be achieved Signup and view all the answers

What is included in the micro environment of a business?

Factors within the company that impact its ability to serve its customers Signup and view all the answers

What is the relationship between goals and objectives in business planning?

Objectives are broad outcomes that goals aim to achieve Signup and view all the answers

What is the primary role of a business's mission statement?

To clarify the business's reason for being and fundamental objectives Signup and view all the answers

What is the relationship between the micro environment and a business's ability to serve its customers?

The micro environment includes factors within the company that impact its ability to serve its customers Signup and view all the answers

Which element of the micro environment outlines a business's long-term direction?

Planning Activity Signup and view all the answers

Which organizational resource is described as 'the workforce or employees of the company whose skills, attitudes, and performance directly impact the business's success'?

Human Resources Signup and view all the answers

In the context of POLC framework of management, which activity is related to structuring resources and tasks effectively to meet business goals?

Organising Signup and view all the answers

Which component of the market environment includes customers, suppliers, intermediaries, and competitors?

Micro Environment Signup and view all the answers

Which element of the micro environment ensures adequate funding and financial planning for the business?

Financial Function Signup and view all the answers

Which component of the micro environment handles daily administrative tasks and supports the operation through information management?

Administration Function Signup and view all the answers

Which management activity involves directing and motivating staff to follow business plans and achieve objectives?

Leading Signup and view all the answers

In the POLC framework, which activity is related to monitoring processes and outputs to ensure alignment with goals and applying corrective measures as needed?

Controlling Signup and view all the answers

Which sector of the economy focuses on providing essential services like healthcare and education?

Tertiary Sector Signup and view all the answers

Which component of the micro environment identifies customer needs and markets the product accordingly?

Marketing Function Signup and view all the answers

Which factor in the macro environment dictates market conditions and consumer spending behaviors through stages such as Expansion, Peak, and Recovery?

Business Cycle Stages Signup and view all the answers

Which groups are included in the Civil Society interactions influencing businesses?

Media, Non-Governmental Organizations, and Academia Signup and view all the answers

Which element in the micro environment affects employee performance and is not directly controlled by management?

Internal Dynamics and Norms Signup and view all the answers

Which stage of the Business Cycle Stages can weaken a national currency and impact economic stability?

Recession Signup and view all the answers

Which sectors are involved in converting raw materials into finished goods in a business?

Primary and Secondary Sectors Signup and view all the answers

Which of the following is NOT a factor influencing operational costs and business continuity in the infrastructure category?

Mining Regulations Signup and view all the answers

Which of the following is a common example of a societal force that poses challenges to businesses in the macro environment?

Income Distribution Signup and view all the answers

Which type of environmental regulations poses additional costs and requirements for businesses with sustainability practices?

Air, Water, and Noise Pollution Regulations Signup and view all the answers

Which advancement in technology simplifies operations by reducing labor needs and increasing efficiency in production?

Robotics and Automated Systems Signup and view all the answers

Which economic factor can temporarily boost consumer spending in lower-income groups during uncertain economic times?

Social Grants Signup and view all the answers

What is the primary purpose of understanding the components of the business environment?

To respond to opportunities and threats Signup and view all the answers

What includes raw materials, finance, and labor as essential inputs for production?

Suppliers Signup and view all the answers

What is the primary role of intermediaries in delivering products to the end consumer?

To add value by making the product available at the right place and time Signup and view all the answers

Which of the following is an example of a physical/natural environment element that can affect business operations?

Local weather and climate changes Signup and view all the answers

What is the primary role of the macro environment in shaping business operations?

To affect business operations and require adaptation Signup and view all the answers

Which of the following is a psychological factor that influences customers' purchasing decisions?

Motivation and perception Signup and view all the answers

What is the primary role of management in the micro environment?

To shape the organizational culture and deploy resources effectively Signup and view all the answers

What is the primary purpose of understanding customers in the market environment?

To understand their needs and drive business offerings Signup and view all the answers

Which of the following is an example of a social factor that influences customers' purchasing decisions?

Family roles and social status Signup and view all the answers

Business Studies June exam P1 (Medium)

Podcast Beta

Questions and Answers

What does the secondary sector primarily do with raw materials?

Which of the following is an example of a tertiary sector activity?

What is the main role of auxiliary services in relation to the primary, secondary, and tertiary sectors?

What is a common characteristic of entities in the informal sector?

Which sector focuses on providing essential services like healthcare and education?

What is a distinguishing factor of the private sector compared to the public sector?

What is the main purpose of understanding the business environment components?

What is included in the micro environment of a business?

What is the primary difference between a company's goals and objectives?

What is the purpose of a company's vision statement?

What is the purpose of a company's mission statement?

What are the three main segments of the business environment?

How can poor quality roads and transport facilities impact business operations?

What impact can a negative balance of payments have on a country's economy?

How do mechanisms like social grants influence consumer spending in lower-income groups?

What role do technologies like EPOS systems and online banking play in daily business operations?

Why is political stability important for business growth?

How do demographic shifts impact market dynamics?

What is the primary role of the micro environment in a business?

Why is understanding local customs important for businesses operating internationally?

How can high unemployment rates impact a country's economic output?

What influence do advancements in communication technologies have on businesses?

What are the societal forces included in the macro environment described in the text?

Which element directly influences the physical operations and logistics of a business in the physical/natural environment?

What role do intermediaries play in the market environment?

Customers’ purchasing decisions are influenced by a blend of factors, except:

Which need does 'Self-Actualization' represent in Maslow’s Hierarchy of Needs?

What does Maslow’s Hierarchy of Needs NOT include?

An essential aspect for businesses is to monitor environmental __________ to effectively respond to opportunities and threats.

Which Part of the External Environment directly interacts with the business?

What must businesses do to respond effectively to changing market conditions?

Which groups are part of the Civil Society interactions influencing businesses?

What is the primary function of the primary sector?

Which of the following is an example of a macro environmental factor?

What is the market environment composed of?

What is the impact of economic factors on business operations?

What is the role of technological advancements in business?

What is the function of the Electronic Point of Sale (EPOS) system?

What is the impact of demographic shifts on business operations?

What is the role of the secondary sector in the economy?

What is the scope of the macro environment?

What is a positive organizational culture most likely to foster?

Which of the following is not considered an organizational resource?

According to the POLC framework, what is the purpose of the 'Controlling' activity?

What is the primary role of the 'General Management' function?

Which of the following is not considered a part of the 'Marketing Function'?

What does the 'Financial Function' primarily manage?

Which of the following best describes the 'Micro Environment' of a business?

What is the primary purpose of the 'Purchasing Function'?

What is the primary role of the 'Public Relations Function'?

What is the primary role of the 'Human Resource Function'?

What characteristic distinguishes businesses in the formal sector from those in the informal sector?

In the tertiary sector, which activity plays a crucial role in ensuring the smooth movement of goods and information?

Which gap do auxiliary services address by holding products until they are needed?

Which sector focuses on innovation, profit generation, and significant employment creation?

What is the main role of the secondary sector in the economy?

How do businesses in the tertiary sector contribute to the economy?

What impact can a negative organizational culture have on a business?

Which of the following is primarily responsible for converting raw materials into finished goods in a business?

In the POLC framework of management, which activity is related to directing and motivating staff to follow business plans?

Which function within a business is responsible for managing the public image and community relations?

What is the purpose of the macro environment in the context of business?

Who oversees and synchronizes all other business functions to ensure the company’s objectives are achieved?

Which resource includes data, analytics, software, and hardware that help a business stay competitive and efficient?

In business, what does the term 'Organisational Structure' primarily refer to?

What role does the Purchasing Function play in a business?

How can high unemployment and health issues like HIV/Aids impact a country's productivity and economic output?

What influences consumer behavior and product preferences through customs, religion, and language?

How can the internal dynamics and norms of a business impact employee performance?

What technology can facilitate faster and more reliable communication but also requires businesses to protect data integrity and privacy?

What does a negative balance of payments, where imports exceed exports, primarily impact?

Which factor dictates market conditions and consumer spending behaviors through stages like Expansion, Peak, and Recovery?

What factor must businesses consider in terms of their environmental impact related to air, water, and noise pollution?

What can reduce labor needs but increase efficiency through the adoption of new technologies like robotics and automated systems?

What directly shapes the micro environment of a business and comprises elements over which the business has direct control?

In which environment do elements like company registration, tax registration, and labor law compliance fall under?

What plays a crucial role in fostering business growth by reducing uncertainty and risk?