Business Studies November exam P1 (Easy)
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Questions and Answers

What is the main purpose of the Skills Development Act, 1998?

  • To promote inclusivity in the South African workforce (correct)
  • To create barriers for previously disadvantaged groups
  • To increase operational costs for businesses
  • To reduce productivity in the national and international market

    • How does the Skills Development Act impact businesses?

  • By mandating contributions to the Skills Development Levy (correct)
  • By limiting workforce diversification
  • By offering immediate tax incentives
  • By decreasing operational costs

    • What could be a consequence for businesses failing to comply with the Skills Development Act?

  • Increased access to grants and subsidies
  • Facing penalties and missing out on grants (correct)
  • Boost in workforce performance
  • Immediate tax incentives

    • How does the Skills Development Act contribute to national competitiveness?

    <p>By empowering individuals through skill enhancement (C)</p> Signup and view all the answers

    Which of the following is a long-term benefit of complying with the Skills Development Act?

    <p>Potential tax incentives and a more skilled workforce (D)</p> Signup and view all the answers

    In what way does the Skills Development Act aim to promote inclusivity?

    <p>By focusing on empowering previously disadvantaged groups through training and development (A)</p> Signup and view all the answers

    In which sector do businesses interact mainly with the natural environment and face challenges like weather variations and natural disasters?

    <p>Primary sector (D)</p> Signup and view all the answers

    Which sector has higher control where services can be tailored to meet customer needs?

    <p>Tertiary sector (C)</p> Signup and view all the answers

    What type of integration involves a primary sector business like a winery opening its own retail outlet?

    <p>Backward vertical integration (B)</p> Signup and view all the answers

    Which strategy involves expanding into new markets such as exporting goods to new countries?

    <p>Market penetration (D)</p> Signup and view all the answers

    What does the Broad-Based Black Economic Empowerment (BBBEE) aim at?

    <p>Distributing wealth across society (D)</p> Signup and view all the answers

    Which legislation aims to regulate the credit industry, ensuring responsible lending and borrowing?

    <p>National Credit Act (NCA) (D)</p> Signup and view all the answers

    What is the purpose of the Employment Equity Act (EEA)?

    <p>Promoting equitable employment practices (D)</p> Signup and view all the answers

    'Liquidation' in defensive strategies refers to:

    <p>Dissolving the business entirely (C)</p> Signup and view all the answers

    'Market penetration' strategy involves:

    <p>Increasing market share in existing markets (C)</p> Signup and view all the answers

    Which diversification strategy involves adding related products or services?

    <p>Concentric diversification (D)</p> Signup and view all the answers

    What is the purpose of the Employment Equity Act, 1998 (Act 55 of 1998)?

    <p>To eliminate unfair discrimination and promote affirmative action (A)</p> Signup and view all the answers

    Which Act encourages businesses to enhance workforce capabilities by utilizing SETA grants?

    <p>Labour Relations Act, 1995 (B)</p> Signup and view all the answers

    What consequences might a company face due to non-compliance with the Consumer Protection Act, 2008?

    <p>Legal disputes and damage to company reputation (C)</p> Signup and view all the answers

    What impact does the Broad-Based Black Economic Empowerment Act have on businesses?

    <p>Affects ownership structure and management (D)</p> Signup and view all the answers

    What could be a consequence of non-compliance with the Basic Conditions of Employment Act, 1997?

    <p>Legal consequences and fines (A)</p> Signup and view all the answers

    What essential practice does the National Credit Act, 2005 recommend for businesses to comply with?

    <p>Conduct thorough affordability assessments (D)</p> Signup and view all the answers

    How can companies comply with the recommendations for the Labour Relations Act, 1995?

    <p>Adhere to fair labor practices (C)</p> Signup and view all the answers

    What is the primary goal of the Broad-Based Black Economic Empowerment Act, 2003?

    <p>Accelerates economic participation of black individuals (D)</p> Signup and view all the answers

    What is the primary purpose of evaluating business strategies?

    <p>To understand internal strengths and weaknesses (D)</p> Signup and view all the answers

    Which analysis tool helps businesses identify how external factors like political, economic, and environmental issues impact the business?

    <p>PESTLE Analysis (D)</p> Signup and view all the answers

    What does backward vertical integration involve?

    <p>Moving closer to the source of raw materials (D)</p> Signup and view all the answers

    Which strategy involves closing down the business entirely?

    <p>Liquidation (B)</p> Signup and view all the answers

    What does market penetration strategy aim to achieve?

    <p>Increasing market share within existing markets (A)</p> Signup and view all the answers

    Which phase of the strategic management process involves setting clear objectives and conducting a SWOT analysis?

    <p>Formulation (B)</p> Signup and view all the answers

    What is the primary focus of Porter's Five Forces analysis?

    <p>Understanding the competitive landscape (A)</p> Signup and view all the answers

    What is the primary objective of the selection process in Human Resource Management?

    <p>Making informed hiring decisions based on gathered data (A)</p> Signup and view all the answers

    Which component of Human Resource Management involves developing an employer brand and compelling job advertisements?

    <p>Recruitment (B)</p> Signup and view all the answers

    What is the purpose of orientation programs in the induction process?

    <p>To introduce new employees to corporate culture and values (B)</p> Signup and view all the answers

    Which aspect is crucial in salary determination to ensure legal compliance?

    <p>Adhering to minimum wage laws and overtime rules (A)</p> Signup and view all the answers

    What is the main benefit of providing fringe benefits to employees?

    <p>Enhanced job satisfaction (A)</p> Signup and view all the answers

    Which legislation governs collective bargaining, industrial relations, and dispute resolution in South African businesses?

    <p>Labour Relations Act (D)</p> Signup and view all the answers

    What is the primary focus of the recruitment process in Human Resource Management?

    <p>&quot;Evaluating CVs/resumes to shortlist candidates based on job relevance&quot; (C)</p> Signup and view all the answers

    Why is matching candidate abilities with organizational requirements important in the placement process?

    <p>&quot;To align individuals with the organization's structure and culture&quot; (C)</p> Signup and view all the answers

    "In-depth Process" is associated with which component of Human Resource Management?

    <p>&quot;Selection&quot; (B)</p> Signup and view all the answers

    What is the main goal of the Employment Equity Act?

    <p>Promoting equal opportunity and fair treatment in employment (B)</p> Signup and view all the answers

    How does quality influence the marketing function of a business?

    <p>It affects brand perception and loyalty (B)</p> Signup and view all the answers

    What does Total Quality Management (TQM) emphasize regarding employees?

    <p>Continuous skills development (D)</p> Signup and view all the answers

    In which business structure is quality often a personal commitment from the owner?

    <p>Sole traders (C)</p> Signup and view all the answers

    Which function within a business focuses on hiring skilled employees and providing ongoing training?

    <p>Human resources (D)</p> Signup and view all the answers

    What is the primary focus of Quality Assurance (QA) in a business?

    <p>Planned and systematic activities for ensuring product quality (B)</p> Signup and view all the answers

    'Continuous Improvements to Processes and Systems' is an element of which quality management system?

    <p>Total Quality Management (TQM) (C)</p> Signup and view all the answers

    How does quality impact the success of a business according to the text?

    <p>It influences brand perception and customer loyalty (C)</p> Signup and view all the answers

    'Systematic management and integration into every department' is necessary for quality in which type of businesses?

    <p>'Large businesses' that require comprehensive quality management (A)</p> Signup and view all the answers

    What is the influence of high-quality standards on business according to the text?

    <p>Positive reputation, customer satisfaction, and repeat business. (D)</p> Signup and view all the answers

    What is a key aspect of implementing TQM in businesses?

    <p>Continuous skills development (C)</p> Signup and view all the answers

    What method is recommended for continuous improvement in processes and systems?

    <p>PDCA cycle (Plan-Do-Check-Act) (B)</p> Signup and view all the answers

    What is a potential negative consequence of poorly implemented TQM?

    <p>Wasted resources and financial loss (C)</p> Signup and view all the answers

    What does effective TQM help in reducing?

    <p>Costs associated with rework and returns (B)</p> Signup and view all the answers

    What is the purpose of Quality Circles in TQM implementation?

    <p>Discuss ways to improve processes and increase efficiency (A)</p> Signup and view all the answers

    What is the purpose of the Skills Development Act, 1998?

    <p>To enhance the skill levels of the workforce (B)</p> Signup and view all the answers

    How does the Skills Development Act, 1998 impact businesses?

    <p>It mandates businesses to contribute to the Skills Development Levy (A)</p> Signup and view all the answers

    What could be a consequence for businesses failing to comply with the Skills Development Act, 1998?

    <p>Penalties and loss of grants and subsidies (D)</p> Signup and view all the answers

    How does the Skills Development Act, 1998 aim to promote inclusivity?

    <p>By focusing on empowering individuals through training (A)</p> Signup and view all the answers

    What is a long-term benefit of complying with the Skills Development Act, 1998?

    <p>A more skilled workforce (B)</p> Signup and view all the answers

    Which area of focus does the Skills Development Act, 1998 mandate for businesses?

    <p>Contributing to employee training and development (A)</p> Signup and view all the answers

    What is the primary focus of the tertiary sector businesses?

    <p>Navigating socio-economic and technological environments (A)</p> Signup and view all the answers

    Which sector involves transforming raw materials into products?

    <p>Secondary sector (B)</p> Signup and view all the answers

    What type of diversification involves adding new, unrelated products or services aimed at current customers?

    <p>Horizontal diversification (B)</p> Signup and view all the answers

    Which strategy involves reducing the size or scope of a business to become more financially stable?

    <p>Retrenchment strategy (C)</p> Signup and view all the answers

    Under which type of integration does a chain of coffee shops acquiring another similar chain fall?

    <p>Horizontal integration (C)</p> Signup and view all the answers

    What is the main purpose of the Broad-Based Black Economic Empowerment (BBBEE) Act?

    <p>Distribute wealth across society (D)</p> Signup and view all the answers

    What is a key element of Total Quality Management (TQM) that involves groups of workers meeting to discuss process improvements?

    <p>Quality Circles (A)</p> Signup and view all the answers

    How can poorly implemented Total Quality Management (TQM) impact a business?

    <p>Decreased customer satisfaction (C)</p> Signup and view all the answers

    Which model, often used for continuous improvement, involves the steps Plan-Do-Check-Act?

    <p>PDCA cycle (B)</p> Signup and view all the answers

    What is a potential result of poor quality in businesses according to the text?

    <p>Negative reviews (C)</p> Signup and view all the answers

    What is a significant benefit of reducing the Cost of Quality through effective Total Quality Management (TQM)?

    <p>Improved financial performance (D)</p> Signup and view all the answers

    In Total Quality Management (TQM), what does 'Continuous Skills Development' primarily focus on?

    <p>Ensuring employees have updated knowledge and skills (B)</p> Signup and view all the answers

    What is the primary focus of Porter's Five Forces analysis?

    <p>Understanding the competitive landscape (D)</p> Signup and view all the answers

    Which strategy involves introducing new products into existing markets?

    <p>Product Development (B)</p> Signup and view all the answers

    What does 'Horizontal Integration' involve?

    <p>Expanding within the same level (D)</p> Signup and view all the answers

    Which of the following is a Defensive Strategy?

    <p>Retrenchment (C)</p> Signup and view all the answers

    What is the primary goal of evaluating post-implementation strategies?

    <p>Comparing actual performance with expected outcomes (A)</p> Signup and view all the answers

    Which diversification strategy involves expanding into totally unrelated business activities?

    <p>Conglomerate Diversification (D)</p> Signup and view all the answers

    'Forward Vertical Integration' involves:

    <p>Moving closer to the customer (B)</p> Signup and view all the answers

    'Backward Vertical Integration' refers to:

    <p>Moving closer to the source of raw materials (D)</p> Signup and view all the answers

    What is the primary purpose of the Labour Relations Act, 1995?

    <p>To promote economic development and peace in labor relations (A)</p> Signup and view all the answers

    What is a consequence of non-compliance with the Employment Equity Act, 1998?

    <p>Limits access to government contracts (B)</p> Signup and view all the answers

    What is a key recommendation for compliance with the Basic Conditions of Employment Act, 1997?

    <p>Review and align HR policies with the Acts provisions (D)</p> Signup and view all the answers

    How does non-compliance with the Broad-Based Black Economic Empowerment Act, 2003 impact businesses?

    <p>Limits access to government contracts and business opportunities (D)</p> Signup and view all the answers

    What does the National Credit Act, 2005 regulate?

    <p>Credit market to protect consumers (B)</p> Signup and view all the answers

    What is a primary focus of the Consumer Protection Act, 2008?

    <p>Ensuring transparent dealings and high-quality products/services (B)</p> Signup and view all the answers

    What strategies can businesses use to counter external challenges according to the text?

    <p>Devising responsive strategies after PESTLE analysis (A)</p> Signup and view all the answers

    Which legislation aims at promoting affirmative action to redress past inequalities in employment?

    <p>Employment Equity Act, 1998 (C)</p> Signup and view all the answers

    What is the main purpose of the induction process in Human Resource Management?

    <p>To integrate new employees into the organization seamlessly (D)</p> Signup and view all the answers

    Why is role fit important in the placement process of Human Resource Management?

    <p>To align individual abilities with organizational structure and culture (A)</p> Signup and view all the answers

    What is the primary focus of determining salaries in Human Resource Management?

    <p>Developing a competitive salary structure aligned with industry standards (D)</p> Signup and view all the answers

    Why are fringe benefits essential in Human Resource Management?

    <p>To enhance job satisfaction and well-being of employees (B)</p> Signup and view all the answers

    What is the impact of fringe benefits on employers according to the text?

    <p>Increased recruitment and retention rates (A)</p> Signup and view all the answers

    Which component of Human Resource Management involves verifying educational background and work history of candidates?

    <p>Selection (C)</p> Signup and view all the answers

    Why is developing a compensation strategy important in Human Resource Management?

    <p>To create a competitive salary structure aligned with industry standards (C)</p> Signup and view all the answers

    What is the primary goal of the Employment Equity Act?

    <p>To promote equal opportunity and fair treatment in employment (D)</p> Signup and view all the answers

    How does the concept of quality influence business success according to the text?

    <p>By affecting brand perception and loyalty (B)</p> Signup and view all the answers

    What do Quality Control (QC), Quality Assurance (QA), and Quality Management (QM) collectively aim to achieve?

    <p>Guiding the development and improvement of product quality (D)</p> Signup and view all the answers

    In what type of businesses is quality often a personal commitment from the owner?

    <p>Sole traders (D)</p> Signup and view all the answers

    What is the primary emphasis of Total Quality Management (TQM) regarding employees?

    <p>Continuous skills development (A)</p> Signup and view all the answers

    What is the main focus of Quality Assurance (QA) in a business context?

    <p>Planned and systematic activities for quality assurance (A)</p> Signup and view all the answers

    How do high-quality standards impact businesses according to the text?

    <p>Result in customer satisfaction and repeat business (B)</p> Signup and view all the answers

    Which element is integral to Total Quality Management (TQM) in striving for excellence?

    <p>'Total client satisfaction' (B)</p> Signup and view all the answers

    What is the primary focus of the Skills Development Act, 1998?

    <p>Empowering previously disadvantaged groups through training (C)</p> Signup and view all the answers

    How does non-compliance with the Skills Development Act, 1998, impact businesses?

    <p>May cause penalties and loss of grants (C)</p> Signup and view all the answers

    What is the purpose of the Skills Development Levy required by the Skills Development Act, 1998?

    <p>Fostering a culture of continuous learning and development (B)</p> Signup and view all the answers

    Which aspect of business operations does the Skills Development Act, 1998, aim to improve?

    <p>Workforce skill levels (A)</p> Signup and view all the answers

    What is the potential long-term benefit for businesses complying with the Skills Development Act, 1998?

    <p>Having a more skilled workforce (D)</p> Signup and view all the answers

    How does the Skills Development Act, 1998 contribute to improving business practices?

    <p>By enhancing skill levels through training and development (D)</p> Signup and view all the answers

    What is the primary objective of the Formulation phase in the strategic management process?

    <p>Understanding internal strengths and weaknesses (C)</p> Signup and view all the answers

    Which business strategy involves a tech company acquiring another software firm?

    <p>Horizontal Integration (D)</p> Signup and view all the answers

    What does PESTLE Analysis aim to help businesses identify?

    <p>External macro-environmental factors (D)</p> Signup and view all the answers

    Backward Vertical Integration involves moving closer to which aspect of the business?

    <p>Source of raw materials (A)</p> Signup and view all the answers

    Horizontal Diversification strategy involves adding what type of products for existing customers?

    <p>New but related products or services (A)</p> Signup and view all the answers

    Market Penetration strategy primarily focuses on?

    <p>Increasing market share within existing markets (C)</p> Signup and view all the answers

    Liquidation as a defensive strategy involves doing what with the business?

    <p>Closing down the business entirely (D)</p> Signup and view all the answers

    Porter's Five Forces analysis focuses on understanding which aspect of a business?

    <p>Competitive landscape (B)</p> Signup and view all the answers

    Concentric Diversification strategy involves adding what kind of products or services?

    <p>'Related' products or services (D)</p> Signup and view all the answers

    Retrenchment as a defensive strategy primarily aims to achieve what for a business?

    <p>'Leaner' operations for financial stability (D)</p> Signup and view all the answers

    What is a key aspect of Total Quality Management (TQM) implementation in businesses?

    <p>Regularly assessing customer needs and feedback (A)</p> Signup and view all the answers

    Which strategy is recommended for continuous improvement in processes and systems according to the text?

    <p>Encouraging quality circles among workers (A)</p> Signup and view all the answers

    What is a potential consequence of poorly implemented Total Quality Management (TQM) in businesses?

    <p>Decreased customer satisfaction (D)</p> Signup and view all the answers

    What type of integration is exemplified by a chain of coffee shops acquiring another similar chain?

    <p>Horizontal integration (A)</p> Signup and view all the answers

    What is the primary focus of reducing the Cost of Quality through effective Total Quality Management (TQM)?

    <p>Improving operational efficiency (B)</p> Signup and view all the answers

    Which factor is integral to the sustainability and success of a business according to the text?

    <p>Current knowledge and skills of employees (C)</p> Signup and view all the answers

    What does the Employment Equity Act promote in employment?

    <p>Equal opportunity (B)</p> Signup and view all the answers

    Which function in a business is primarily concerned with hiring skilled employees?

    <p>Human Resources (B)</p> Signup and view all the answers

    What is the key focus of Total Quality Management (TQM) regarding employees?

    <p>Continuous skills development (D)</p> Signup and view all the answers

    In which business structure is quality often a personal commitment from the owner?

    <p>Sole Traders (A)</p> Signup and view all the answers

    Which element of Total Quality Management (TQM) involves systematic examination and improvement of business processes?

    <p>Continuous improvements to processes and systems (C)</p> Signup and view all the answers

    How does the concept of quality influence brand perception according to the text?

    <p>It affects brand perception and loyalty. (D)</p> Signup and view all the answers

    What is the impact of quality on different business structures according to the text?

    <p>It reduces wastage and costs. (D)</p> Signup and view all the answers

    What is the overarching management framework that guides the development and implementation of quality products and services?

    <p>Quality Management (QM) (D)</p> Signup and view all the answers

    How does high-quality standards impact businesses according to the text?

    <p>It enhances customer satisfaction and repeat business. (C)</p> Signup and view all the answers

    What is the primary goal of Total Quality Management (TQM)?

    <p>To strive for excellence in meeting or exceeding customer expectations. (B)</p> Signup and view all the answers

    In which sector does a family-owned farm primarily operate?

    <p>Primary sector (C)</p> Signup and view all the answers

    Which strategy involves a chain of coffee shops acquiring another similar chain?

    <p>Horizontal Diversification (D)</p> Signup and view all the answers

    What is a characteristic of businesses operating in the tertiary sector?

    <p>Higher control over tailoring services to meet customer needs (B)</p> Signup and view all the answers

    What does Concentric Diversification involve?

    <p>Adding related products or services (A)</p> Signup and view all the answers

    Under what type of integration would a car manufacturer acquiring a steel plant fall?

    <p>Backward Vertical Integration (D)</p> Signup and view all the answers

    What does the Employment Equity Act (EEA) aim to promote?

    <p>Equitable employment practices and affirmative action (D)</p> Signup and view all the answers

    'Market Development' strategy involves:

    <p>Exporting goods to new countries (D)</p> Signup and view all the answers

    'Divestiture' strategy involves:

    <p>'Closing down the business entirely (D)</p> Signup and view all the answers

    Which legislation regulates the credit industry for responsible lending and borrowing?

    <p>National Credit Act (NCA) (B)</p> Signup and view all the answers

    What is the main focus of businesses operating in the secondary sector?

    <p>Transforming raw materials into products (C)</p> Signup and view all the answers

    What is the primary objective of the Screening process in recruitment?

    <p>Shortlisting candidates based on educational qualifications (A)</p> Signup and view all the answers

    Which component is crucial in the Induction (Onboarding) process to assess the effectiveness of integrating new hires?

    <p>Evaluation through feedback mechanisms (D)</p> Signup and view all the answers

    What is a key aspect of matching in the Placement process?

    <p>Aligning abilities with position requirements (C)</p> Signup and view all the answers

    In Salary Determination, what does establishing pay scales within grades primarily depend on?

    <p>Employee educational qualifications (B)</p> Signup and view all the answers

    What are Fringe Benefits aimed at enhancing for employees?

    <p>Job satisfaction (C)</p> Signup and view all the answers

    Which legislation governs collective bargaining and industrial relations in South Africa?

    <p>Labour Relations Act (B)</p> Signup and view all the answers

    What is the main focus of developing a compensation strategy in Human Resource Management?

    <p>Aligning with industry standards (D)</p> Signup and view all the answers

    What is the primary goal of verifying educational background and work history in the Selection process?

    <p>Making informed hiring decisions (A)</p> Signup and view all the answers

    What is the main purpose of having a Development Plan in Placement?

    <p>Creating a roadmap for employee growth (C)</p> Signup and view all the answers

    What is the purpose of the Basic Conditions of Employment Act, 1997?

    <p>To set minimum employment conditions (B)</p> Signup and view all the answers

    How does non-compliance with the Broad-Based Black Economic Empowerment Act impact businesses?

    <p>Limits access to government contracts and business opportunities (B)</p> Signup and view all the answers

    What is a key recommendation for compliance with the Labour Relations Act, 1995?

    <p>Adhere to fair labor practices (D)</p> Signup and view all the answers

    How does the Employment Equity Act, 1998 impact businesses?

    <p>Encourages equitable hiring practices (B)</p> Signup and view all the answers

    Which Act aims at promoting affirmative action to redress past inequalities in employment?

    <p>Employment Equity Act, 1998 (A)</p> Signup and view all the answers

    What recommendation is given for compliance with the National Credit Act, 2005?

    <p>Adhere to responsible lending practices (B)</p> Signup and view all the answers

    Which legislation sets minimum employment conditions while ensuring social and economic development?

    <p>Basic Conditions of Employment Act, 1997 (B)</p> Signup and view all the answers

    What is the main purpose of the Skills Development Act, 1998?

    <p>To enhance the skill levels of the workforce (B)</p> Signup and view all the answers

    How does non-compliance with the Skills Development Act, 1998 impact businesses?

    <p>It may cause penalties and missed grants or subsidies (A)</p> Signup and view all the answers

    What role does the Skills Development Levy play according to the Skills Development Act, 1998?

    <p>It contributes to continuous learning and development (D)</p> Signup and view all the answers

    What is the potential consequence of businesses failing to comply with the Skills Development Act, 1998?

    <p>Penalties and missed grants or subsidies (D)</p> Signup and view all the answers

    In what way does the Skills Development Act, 1998 aim to improve South Africa's national competitiveness?

    <p>By mandating businesses to contribute to the Skills Development Levy (A)</p> Signup and view all the answers

    What long-term benefit can businesses gain by complying with the Skills Development Act, 1998?

    <p>A more skilled workforce (C)</p> Signup and view all the answers

    What is a key principle of Total Quality Management (TQM) mentioned in the text?

    <p>Implementing the PDCA cycle (A)</p> Signup and view all the answers

    How does poorly implemented TQM impact businesses according to the text?

    <p>Results in demotivated employees (D)</p> Signup and view all the answers

    Which factor is highlighted as a consequence of poor quality in business operations?

    <p>Negative reviews and returns (C)</p> Signup and view all the answers

    What is one way businesses can reduce costs through effective Total Quality Management (TQM)?

    <p>Reduce rework and dissatisfied customers (C)</p> Signup and view all the answers

    What is the primary focus of Continuous Skills Development in the context of implementing TQM?

    <p>Ensuring up-to-date knowledge and skills for employees (B)</p> Signup and view all the answers

    Which approach is recommended for businesses according to the text to improve processes and increase efficiency?

    <p>Quality Circles (C)</p> Signup and view all the answers

    What is the primary purpose of conducting a SWOT analysis in strategic management?

    <p>Identify internal strengths and weaknesses (D)</p> Signup and view all the answers

    Which strategy involves increasing market share within existing markets?

    <p>Market Penetration (C)</p> Signup and view all the answers

    What does backward vertical integration entail for a business?

    <p>Acquiring suppliers or raw material sources (D)</p> Signup and view all the answers

    How can businesses benefit from PESTLE analysis?

    <p>Navigating through market complexities (A)</p> Signup and view all the answers

    What is the main aim of diversification strategies in business management?

    <p>Minimize market risks (B)</p> Signup and view all the answers

    In strategic management, what is the purpose of evaluating formulated strategies post-implementation?

    <p>Compare actual performance with expected outcomes (D)</p> Signup and view all the answers

    What key aspect of the business environment does Porter's Five Forces analysis focus on?

    <p>Competitive landscape (B)</p> Signup and view all the answers

    In which sector do businesses primarily interact with the natural environment and face challenges like weather variations and natural disasters?

    <p>Primary Sector (C)</p> Signup and view all the answers

    Which of the following strategies involves a business expanding into new markets?

    <p>Market Penetration (B)</p> Signup and view all the answers

    Which type of diversification strategy involves adding new, unrelated products or services aimed at current customers?

    <p>Horizontal Diversification (A)</p> Signup and view all the answers

    Under which type of integration would a car manufacturer acquiring a steel plant fall?

    <p>Backward Vertical Integration (B)</p> Signup and view all the answers

    What does the Employment Equity Act (EEA) aim to promote through its provisions?

    <p>Affirmative Action and Equity in Employment (D)</p> Signup and view all the answers

    Which legislation focuses on ensuring fairness, transparency, and accountability in business-consumer interactions?

    <p>Consumer Protection Act (CPA) (D)</p> Signup and view all the answers

    What is the primary purpose of the Labour Relations Act, 1995?

    <p>Promote economic development and democracy in the workplace (D)</p> Signup and view all the answers

    What is the consequence of non-compliance with the Employment Equity Act, 1998?

    <p>Attracts penalties and back payments (D)</p> Signup and view all the answers

    What does the Broad-Based Black Economic Empowerment Act, 2003 aim to accelerate?

    <p>Economic participation of black individuals (A)</p> Signup and view all the answers

    What is the impact of non-compliance with the Basic Conditions of Employment Act, 1997 on businesses?

    <p>Attracts penalties and back payments (A)</p> Signup and view all the answers

    Why is it important for businesses to adhere to fair labor practices according to the text?

    <p>To prevent legal challenges and reputational harm (C)</p> Signup and view all the answers

    What is a recommendation for compliance with the National Credit Act, 2005?

    <p>Conduct thorough affordability assessments (A)</p> Signup and view all the answers

    How does the Consumer Protection Act, 2008 impact businesses according to the text?

    <p>Requires transparent dealings and quality products/services (C)</p> Signup and view all the answers

    What is a consequence of non-compliance with the Broad-Based Black Economic Empowerment Act, 2003?

    <p>Limits access to government contracts and business opportunities (C)</p> Signup and view all the answers

    What is an essential recommendation for compliance with the Employment Equity Act, 1998?

    <p>Develop an employment equity plan (C)</p> Signup and view all the answers

    How does non-compliance with the National Credit Act, 2005 impact businesses according to the text?

    <p>Leads to legal sanctions, fines, and damage to company reputation. (D)</p> Signup and view all the answers

    What attribute of a product or service does quality pertain to?

    <p>Customer expectations (A)</p> Signup and view all the answers

    In a business context, what does Total Quality Management (TQM) emphasize regarding employees?

    <p>Continuous skills development (D)</p> Signup and view all the answers

    Which function in a business is primarily concerned with providing confidence that a product or service will fulfill requirements for quality?

    <p>Quality Assurance (QA) (D)</p> Signup and view all the answers

    What is the primary impact of quality on sole traders according to the text?

    <p>Elevated brand loyalty (B)</p> Signup and view all the answers

    Which element of Total Quality Management (TQM) involves excellence in meeting or exceeding customer expectations?

    <p>Total client satisfaction (C)</p> Signup and view all the answers

    What type of activities does Quality Assurance (QA) involve within the quality system?

    <p>Testing and inspections (C)</p> Signup and view all the answers

    For large businesses, how does quality management need to be integrated according to the text?

    <p>Into every department (B)</p> Signup and view all the answers

    What is the primary goal of hiring skilled employees and providing ongoing training according to the text?

    <p>Ensure tasks are performed to high standards (D)</p> Signup and view all the answers

    Which function in a business primarily ensures materials are cost-effective and meet quality specifications?

    <p>Purchasing Function (A)</p> Signup and view all the answers

    What does Quality Control (QC) in business often involve according to the text?

    <p>Operational techniques and testing of products/services (C)</p> Signup and view all the answers

    What is the primary objective of the Salary Determination process in Human Resource Management?

    <p>Developing a competitive salary structure that aligns with industry standards (A)</p> Signup and view all the answers

    Which component of the Induction (Onboarding) process focuses on assigning a mentor for guidance and support to new employees?

    <p>Mentoring and Coaching (B)</p> Signup and view all the answers

    What is the primary goal of the Selection process in Human Resource Management?

    <p>To evaluate all data gathered during selection to make informed hiring decisions (D)</p> Signup and view all the answers

    Which strategy involves creating a roadmap for an employees growth and integration within a company?

    <p>Development Plan (A)</p> Signup and view all the answers

    What is a key challenge in the Recruitment process of Human Resource Management?

    <p>Increasing time-to-hire (D)</p> Signup and view all the answers

    Which factor is crucial in determining Fringe Benefits for employees?

    <p>Enhancing job satisfaction and well-being (C)</p> Signup and view all the answers

    What is the objective of the Recruitment process in Human Resource Management?

    <p>To attract a pool of qualified candidates to fill vacancies (C)</p> Signup and view all the answers

    Which task is involved in the Selection process of Human Resource Management?

    <p>Evaluating CVs/resumes for job relevance (C)</p> Signup and view all the answers

    What is a key aspect of Total Quality Management (TQM) implementation in businesses?

    <p>Continuous skills development (D)</p> Signup and view all the answers

    What is the primary focus of reducing the Cost of Quality through effective Total Quality Management (TQM)?

    <p>Reducing costs associated with rework (C)</p> Signup and view all the answers

    What could be a consequence of businesses failing to comply with the Skills Development Act, 1998?

    <p>Financial loss (A)</p> Signup and view all the answers

    Why is it important for businesses to adhere to fair labor practices according to the text?

    <p>To ensure sustainability and success (A)</p> Signup and view all the answers

    What does Quality Control (QC) in business often involve according to the text?

    <p>Ensuring products meet set standards (B)</p> Signup and view all the answers

    What is the main focus of Quality Assurance (QA) in a business context?

    <p>Ensuring products conform to quality standards (A)</p> Signup and view all the answers

    'Liquidation' as a defensive strategy involves what action with the business?

    <p>Closing down the business entirely (B)</p> Signup and view all the answers

    'Improvement of Processes and Systems' in TQM involves adopting which cycle for continuous improvement?

    <p>(Plan-Do-Check-Act) (A)</p> Signup and view all the answers

    'Customer Satisfaction' in TQM requires regularly assessing what to adjust products or services accordingly?

    <p>(Customer needs and feedback) (C)</p> Signup and view all the answers

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