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Business Studies June exam P1 (Medium)
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Business Studies June exam P1 (Medium)

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Questions and Answers

What is the main objective of the recruitment process?

  • To integrate new employees into the organization
  • To train new hires effectively
  • To set up competitive salary structures
  • To attract qualified candidates to fill vacancies (correct)

    • Which of the following is NOT part of the job analysis during recruitment?

  • Reviewing educational qualifications
  • Assessing required skills
  • Evaluating employee performance (correct)
  • Detailed examination of job responsibilities

    • What is the purpose of background checks during the selection process?

  • To determine salary expectations
  • To evaluate communication skills
  • To verify educational background and work history (correct)
  • To assess technical skills

    • What does induction or onboarding aim to achieve in an organization?

    <p>To integrate new hires into the organization seamlessly</p> Signup and view all the answers

    What is the significance of role fit in the placement process?

    <p>Ensuring alignment with organizational structure and culture</p> Signup and view all the answers

    Which aspect is considered when determining salaries in an organization?

    <p>Alignment with industry standards and budget</p> Signup and view all the answers

    What is one impact of fringe benefits on employees?

    <p>Increased job loyalty</p> Signup and view all the answers

    'The Labour Relations Act' primarily deals with:

    <p>Dispute resolution and collective bargaining</p> Signup and view all the answers

    'The Basic Conditions of Employment Act' focuses on setting minimum standards for:

    <p>'Working hours, leave entitlements, and termination'</p> Signup and view all the answers

    'Sourcing' during recruitment involves:

    <p>'Utilizing multiple channels like online job portals'</p> Signup and view all the answers

    What is the purpose of the Employment Equity Act, 1998?

    <p>To eliminate unfair discrimination</p> Signup and view all the answers

    What impact does the National Credit Act, 2005 have on businesses?

    <p>Imposes stricter criteria for granting credit</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</p> Signup and view all the answers

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

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

    How does the Skills Development Act, 1998 impact businesses?

    <p>By mandating contributions to the Skills Development Levy</p> Signup and view all the answers

    What is the impact of the Consumer Protection Act, 2008 on businesses?

    <p>Requires transparent dealings and high-quality products and services</p> Signup and view all the answers

    What consequences may businesses face for failing to comply with the Skills Development Act, 1998?

    <p>Penalties and missing out on grants/subsidies</p> Signup and view all the answers

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

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

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

    <p>By enhancing the skill levels of the South African workforce</p> Signup and view all the answers

    How can businesses ensure compliance with the Labour Relations Act, 1995?

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

    Which group does the Skills Development Act, 1998 specifically focus on empowering?

    <p>Previously disadvantaged groups</p> Signup and view all the answers

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

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

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

    <p>To accelerate economic participation of black individuals</p> Signup and view all the answers

    Which sector involves transforming raw materials into products?

    <p>Secondary Sector</p> Signup and view all the answers

    What is an example of a business in the Tertiary Sector mentioned in the text?

    <p>Local hospital</p> Signup and view all the answers

    Which integration strategy involves a business acquiring a steel plant?

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

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

    <p>Affirmative action and equitable employment practices</p> Signup and view all the answers

    Which diversification strategy involves businesses moving into entirely new lines of business?

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

    What does the National Credit Act (NCA) aim to regulate?

    <p>Credit industry</p> Signup and view all the answers

    Which Act ensures fairness, transparency, and accountability in business-consumer interactions?

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

    What is the primary goal of the Employment Equity Act?

    <p>Promoting equal opportunity and fair treatment in employment through affirmative action</p> Signup and view all the answers

    How does quality impact the Marketing Function of a business?

    <p>Enhances brand perception and loyalty</p> Signup and view all the answers

    What does Total Quality Management (TQM) emphasize in terms of employee development?

    <p>Continuous skills development through ongoing training</p> Signup and view all the answers

    How does Quality Assurance (QA) differ from Quality Control (QC)?

    <p>QA involves inspections and testing of products, while QC fulfills quality requirements</p> Signup and view all the answers

    In what way does quality impact Sole Traders differently than Large Businesses?

    <p>Large Businesses need systematic quality management, while Sole Traders can rely on personal commitment for quality</p> Signup and view all the answers

    Why is continuous improvement of business processes essential in Total Quality Management (TQM)?

    <p>To improve overall quality</p> Signup and view all the answers

    Which element is NOT a part of Total Quality Management (TQM)?

    <p><strong>Quality Check (QC)</strong></p> Signup and view all the answers

    How does the Quality of Performance relate to business success?

    <p><strong>Leads to</strong> customer satisfaction, repeat business, and positive reputation</p> Signup and view all the answers

    What are quality circles primarily focused on in TQM implementation?

    <p>Discussing ways to improve processes</p> Signup and view all the answers

    Which cycle is adopted for continuous improvement in TQM?

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

    What is a potential consequence of poor TQM implementation?

    <p>Decreased operational efficiency</p> Signup and view all the answers

    How does effective TQM help in reducing costs?

    <p>By improving operational efficiency</p> Signup and view all the answers

    Which factor is NOT mentioned as a potential impact of poor quality in the text?

    <p>Financial gain</p> Signup and view all the answers

    What is a key aspect emphasized for the sustainability and success of a business according to the text?

    <p>Quality of performance</p> Signup and view all the answers

    What is the primary purpose of evaluating strategies in business?

    <p>To improve business performance and sustainability</p> Signup and view all the answers

    Which phase of the strategic management process involves the comparison of actual performance with expected outcomes?

    <p>Evaluation</p> Signup and view all the answers

    What is the main purpose of Porter's Five Forces analysis?

    <p>To understand the competitive landscape</p> Signup and view all the answers

    Which diversification strategy involves adding new but related products or services?

    <p>Concentric Diversification</p> Signup and view all the answers

    What is the main focus of market development as an intensive strategy?

    <p>Entering new markets with existing products</p> Signup and view all the answers

    Which defensive strategy involves scaling down operations to ensure financial stability?

    <p>Retrenchment</p> Signup and view all the answers

    In the strategic management process, what does 'SWOT' stand for?

    <p>Strengths, Weaknesses, Opportunities, Threats</p> Signup and view all the answers

    What does PESTLE analysis help businesses identify?

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

    Which integration strategy involves expanding within the same level of operation?

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

    What is the main objective of product development as an intensive strategy?

    <p>Introducing new products into existing markets</p> Signup and view all the answers

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

    <p>Improving workforce skill levels</p> Signup and view all the answers

    How does the Skills Development Act, 1998 impact businesses' operational costs?

    <p>It increases operational costs due to required contributions</p> Signup and view all the answers

    What are some potential benefits for businesses complying with the Skills Development Act, 1998 in the long term?

    <p>Continuous learning culture and skilled workforce</p> Signup and view all the answers

    What consequences might businesses face for failing to comply with the Skills Development Act, 1998 in South Africa?

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

    Which aspect of business operations does the Skills Development Act, 1998 aim to regulate in South Africa?

    <p>Employee training and development</p> Signup and view all the answers

    How does the Skills Development Act, 1998 contribute to improving business competitiveness in South Africa?

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

    What type of business would typically interact mainly with the natural environment and face challenges like weather variations and natural disasters?

    <p>A family-owned farm</p> Signup and view all the answers

    Which business sector has a higher degree of control where services can be tailored to meet customer needs?

    <p>Tertiary Sector</p> Signup and view all the answers

    What strategy involves businesses adding related products or services, like a bakery starting to offer catering services?

    <p>Horizontal Diversification Strategy</p> Signup and view all the answers

    Which legislation aims to promote equitable employment practices, fight discrimination, and enforce affirmative action?

    <p>Employment Equity Act (EEA)</p> Signup and view all the answers

    What type of integration strategy involves a business expanding into new markets, like a manufacturer exporting goods to other countries?

    <p>Market Development Strategy</p> Signup and view all the answers

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

    <p>Horizontal Diversification Strategy</p> Signup and view all the answers

    'Divestiture' as a defensive strategy involves businesses:

    <p>Selling off parts of the business that aren't performing well</p> Signup and view all the answers

    'Market Penetration' as an intensive strategy involves businesses:

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

    'Backward Vertical Integration' typically involves a business like a car manufacturer acquiring:

    <p>A steel plant</p> Signup and view all the answers

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

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

    How does effective Total Quality Management (TQM) contribute to reducing costs in businesses?

    <p>By reducing costs associated with rework and dissatisfied customers</p> Signup and view all the answers

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

    <p>Wasted resources, demotivated employees, and decreased customer satisfaction</p> Signup and view all the answers

    What is the primary focus of Quality Circles in the context of Total Quality Management (TQM)?

    <p>Discussing ways to improve processes and increase efficiency</p> Signup and view all the answers

    In which phase of business operations is Customer Satisfaction crucial according to the text?

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

    How does Continuous Skills Development contribute to the effectiveness of Total Quality Management (TQM) in businesses?

    <p>By ensuring employees are always equipped with current knowledge and skills</p> Signup and view all the answers

    What is the significance of implementing the PDCA cycle in Total Quality Management (TQM) processes?

    <p>Adopting a structured approach for continuous improvement</p> Signup and view all the answers

    What is the main purpose of conducting preliminary screening in the selection process?

    <p>To evaluate CVs and resumes thoroughly</p> Signup and view all the answers

    How does the Labour Relations Act impact businesses?

    <p>By governing collective bargaining and dispute resolution</p> Signup and view all the answers

    What is the key function of salary determination within Human Resource Management?

    <p>To develop competitive salary structures</p> Signup and view all the answers

    Why is the role fit crucial in the placement process?

    <p>To ensure the individual fits the organizational structure and culture</p> Signup and view all the answers

    What is a significant aspect of fringe benefits for employers?

    <p>Tax advantages for the organization</p> Signup and view all the answers

    In what way does legislation impact business operations in South Africa?

    <p>By governing operational practices and customer service protocols</p> Signup and view all the answers

    What is the main goal of the Basic Conditions of Employment Act within business operations?

    <p>To set minimum employment standards like working hours</p> Signup and view all the answers

    'Induction' within Human Resource Management aims to achieve what objective?

    <p>Integrating new hires into the organization seamlessly</p> Signup and view all the answers

    'Job Analysis' during recruitment involves a detailed examination of what aspects?

    <p>'Job responsibilities, required skills, outcomes'</p> Signup and view all the answers

    What is a critical challenge faced during recruitment processes in businesses?

    <p>Reducing time-to-hire</p> Signup and view all the answers

    What is the primary focus of backward vertical integration in business strategy?

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

    Which industrial analysis tool helps businesses understand their external macro-environmental factors?

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

    What does market penetration as an intensive strategy primarily aim to achieve?

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

    What is the key purpose of evaluating strategies post-implementation?

    <p>To compare actual performance with expected outcomes</p> Signup and view all the answers

    In which diversification strategy does a business add new but related products or services?

    <p>Concentric Diversification</p> Signup and view all the answers

    What is the primary outcome of utilizing Porter's Five Forces in strategic planning?

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

    Why is continuous strategy evaluation and adjustment important for businesses?

    <p>To ensure alignment with changing market conditions</p> Signup and view all the answers

    What can happen to businesses if they fail to comply with the Broad-Based Black Economic Empowerment Act, 2003?

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

    What is a key impact of the National Credit Act, 2005 on businesses?

    <p>Imposes stricter criteria for granting credit.</p> Signup and view all the answers

    What is the primary purpose of the Consumer Protection Act, 2008?

    <p>Ensuring fair access to consumer goods and services.</p> Signup and view all the answers

    How does the Employment Equity Act, 1998 contribute to business operations?

    <p>Requires equitable hiring practices and addresses past inequalities.</p> Signup and view all the answers

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

    <p>Results in legal penalties and back payments.</p> Signup and view all the answers

    How does the Labour Relations Act, 1995 impact businesses?

    <p>Requires businesses to adhere to fair practices regarding hiring and worker treatment.</p> Signup and view all the answers

    What is the main focus of the Employment Equity Act, 1998?

    <p>Eliminating unfair discrimination and promoting affirmative action.</p> Signup and view all the answers

    How can businesses ensure compliance with the National Credit Act, 2005?

    <p>Conduct thorough affordability assessments and adhere to responsible lending practices.</p> Signup and view all the answers

    What is the primary goal of the Quality of Performance within business operations?

    <p>To meet or exceed customer expectations</p> Signup and view all the answers

    How does Quality impact the Marketing Function in a business according to the text?

    <p>It improves brand perception and loyalty</p> Signup and view all the answers

    What is an essential element of Total Quality Management (TQM) according to the text?

    <p>Striving for excellence in meeting customer expectations</p> Signup and view all the answers

    How does Quality affect Large Businesses differently than Sole Traders?

    <p>Quality in Sole Traders can be influenced by the owner directly</p> Signup and view all the answers

    Which element is NOT part of a Quality Management System as discussed in the text?

    <p>Quality Control (QC)</p> Signup and view all the answers

    What is the impact of high-quality standards on business success?

    <p>Customer satisfaction, repeat business, and positive reputation</p> Signup and view all the answers

    Which function does Quality primarily impact in a business's Operations?

    <p>Purchasing</p> Signup and view all the answers

    How does Total Quality Management (TQM) contribute to business success?

    <p>By ensuring excellence in meeting customer expectations</p> Signup and view all the answers

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

    <p>Improving skill levels of the workforce</p> Signup and view all the answers

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

    <p>Involves penalties and missed opportunities</p> Signup and view all the answers

    What is a likely consequence for businesses failing to adhere to the Skills Development Act, 1998?

    <p>Ineligibility for grants and subsidies</p> Signup and view all the answers

    How does the Skills Development Act, 1998 contribute to business operations in South Africa?

    <p>Fosters a culture of continuous learning</p> Signup and view all the answers

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

    <p>To enhance workforce skills through training</p> Signup and view all the answers

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

    <p>Skill levels of the workforce</p> Signup and view all the answers

    What is the primary focus of the Implementation phase in the strategic management process?

    <p>Putting formulated strategies into action</p> Signup and view all the answers

    Which industrial analysis tool is specifically focused on external macro-environmental factors?

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

    What is the primary objective of Market Development as an intensive strategy?

    <p>Entering new markets with existing products</p> Signup and view all the answers

    Which integration strategy involves a business expanding within the same level?

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

    What is the main purpose of diversification through Conglomerate Diversification?

    <p>Expanding into totally unrelated business activities</p> Signup and view all the answers

    Which defensive strategy focuses on selling off underperforming portions of a company?

    <p>Divestiture</p> Signup and view all the answers

    What is the essential outcome of continuously monitoring and evaluating business strategies?

    <p>Identifying deviations from expected outcomes</p> Signup and view all the answers

    How does Porter's Five Forces analysis assist businesses in strategic planning?

    <p>Understanding external threats and opportunities</p> Signup and view all the answers

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

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

    What is the primary purpose of implementing the PDCA (Plan-Do-Check-Act) cycle in Total Quality Management (TQM)?

    <p>Continuous Improvement</p> Signup and view all the answers

    How does effective Total Quality Management (TQM) primarily contribute to reducing costs in businesses?

    <p>Improving Operational Efficiency</p> Signup and view all the answers

    Which consequence can result from poorly implemented Total Quality Management (TQM) in businesses?

    <p>Decreased Employee Motivation</p> Signup and view all the answers

    What is an impact of poor TQM implementation that might affect a business financially?

    <p>Loss of Business</p> Signup and view all the answers

    Which aspect does Effective TQM primarily focus on reducing to enhance business success?

    <p>Operational Efficiency</p> Signup and view all the answers

    What does the Employment Equity Act aim to promote in employment?

    <p>Equal opportunity and fair treatment</p> Signup and view all the answers

    How does quality impact brand perception in the Marketing Function?

    <p>Quality enhances brand perception and loyalty</p> Signup and view all the answers

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

    <p>To emphasize continuous skills development for improved work quality</p> Signup and view all the answers

    How does quality management differ from quality control and quality assurance?

    <p>Quality management guides continuous improvement, unlike control and assurance</p> Signup and view all the answers

    In what way does the Quality of Performance influence business success?

    <p>It leads to customer satisfaction, repeat business, and a positive reputation</p> Signup and view all the answers

    Why is Quality Control (QC) considered an essential part of business operations?

    <p>To ensure products meet quality requirements through inspections and testing</p> Signup and view all the answers

    How does Total Client Satisfaction contribute to the success of a business?

    <p>By striving for excellence in meeting or exceeding customer expectations</p> Signup and view all the answers

    What is the impact of Continuous Improvements to Processes and Systems on business operations?

    <p>Enhancing business processes through systematic examination and improvements</p> Signup and view all the answers

    How does Quality Financial Management contribute to overall business efficiency?

    <p>By streamlining operations and enhancing business efficiency</p> Signup and view all the answers

    What is the significance of Hiring Skilled Employees in Human Resources?

    <p>To ensure tasks are performed to high standards</p> Signup and view all the answers

    Which sector involves transforming raw materials into products?

    <p>Secondary Sector</p> Signup and view all the answers

    What does Horizontal Integration involve?

    <p>Acquiring similar chains</p> Signup and view all the answers

    What is the main goal of Market Development as an intensive strategy?

    <p>Expanding into new markets</p> Signup and view all the answers

    Which legislation aims to ensure fairness, transparency, and accountability in business-consumer interactions?

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

    What does Concentric Diversification involve?

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

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

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

    What do forward vertical integration and backward vertical integration focus on, respectively?

    <p>Product integration, supplier integration</p> Signup and view all the answers

    What is the primary purpose of the National Credit Act (NCA) according to the text?

    <p>Regulate the credit industry for responsible lending and borrowing</p> Signup and view all the answers

    What is the purpose of the National Credit Act, 2005?

    <p>Protect consumers from reckless lending</p> Signup and view all the answers

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

    <p>Affects hiring practices</p> Signup and view all the answers

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

    <p>Legal sanctions and fines</p> Signup and view all the answers

    How does the Labour Relations Act, 1995 impact businesses?

    <p>Encourages fair labor practices</p> Signup and view all the answers

    What is recommended for compliance with the Basic Conditions of Employment Act, 1997?

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

    What does the Consumer Protection Act, 2008 aim to ensure?

    <p>High-quality products and services</p> Signup and view all the answers

    How do non-compliance consequences of the Basic Conditions of Employment Act differ from non-compliance with the Consumer Protection Act?

    <p>Fines vs. legal sanctions</p> Signup and view all the answers

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

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

    What is the primary objective of the Selection process within Human Resource Management?

    <p>To make informed hiring decisions</p> Signup and view all the answers

    Which component of Recruitment involves developing an employer brand and creating compelling job advertisements?

    <p>Strategies</p> Signup and view all the answers

    What is the primary purpose of Induction (Onboarding) in Human Resource Management?

    <p>To integrate new hires into the organization seamlessly</p> Signup and view all the answers

    What does Salary Determination in business operations involve?

    <p>Developing a competitive salary structure and grade levels</p> Signup and view all the answers

    What is the strategic focus of Placement within Human Resource Management?

    <p>Aligning abilities with job requirements</p> Signup and view all the answers

    Which factor is considered in Salary Determination to ensure legal compliance?

    <p>Adhering to minimum wage laws</p> Signup and view all the answers

    What is the primary goal of introducing Fringe Benefits in business operations?

    <p>To enhance job satisfaction and loyalty</p> Signup and view all the answers

    What does the Labour Relations Act primarily govern within businesses?

    <p>Collective bargaining and industrial relations</p> Signup and view all the answers

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

    <p>Enhancing the skill levels of the workforce</p> Signup and view all the answers

    How does the Skills Development Act, 1998 impact businesses financially?

    <p>It reduces operational costs through tax incentives</p> Signup and view all the answers

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

    <p>Potential penalties and loss of grants</p> Signup and view all the answers

    What is the main purpose of the Business Environment Acts in South Africa?

    <p>To transform and improve business practices</p> Signup and view all the answers

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

    <p>By enhancing the skill levels of the workforce</p> Signup and view all the answers

    What are the long-term benefits for businesses complying with the Skills Development Act, 1998?

    <p>A more skilled workforce and potential tax incentives</p> Signup and view all the answers

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

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

    How does Continuous Skills Development contribute to effective Total Quality Management (TQM)?

    <p>It ensures employees have relevant knowledge and skills</p> Signup and view all the answers

    What is the primary focus of Quality Circles in Total Quality Management (TQM) implementation?

    <p>Improving processes and increasing efficiency</p> Signup and view all the answers

    Which of the following is a key element in reducing the cost of quality through Total Quality Management (TQM)?

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

    What does the PDCA cycle stand for in the context of continuous improvement in TQM?

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

    How can ineffective TQM implementation impact a business?

    <p>Wasted resources and demotivated employees</p> Signup and view all the answers

    Which sector involves providing services instead of goods?

    <p>Tertiary Sector</p> Signup and view all the answers

    What type of diversification strategy involves moving into entirely new lines of business?

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

    In which integration strategy does a business acquire a steel plant?

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

    Which intensive strategy focuses on introducing new products or improving existing ones?

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

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

    <p>Equitable employment practices</p> Signup and view all the answers

    What is the primary purpose of the National Credit Act (NCA)?

    <p>Regulate the credit industry</p> Signup and view all the answers

    What is a potential consequence of businesses not adhering to fair practices in hiring and treatment of workers under the Labour Relations Act?

    <p>Industrial action</p> Signup and view all the answers

    How do companies ensure compliance with the Employment Equity Act regarding hiring practices?

    <p>Conducting regular audits</p> Signup and view all the answers

    Under the Basic Conditions of Employment Act, what may happen to businesses that fail to align their HR policies with the Act's provisions?

    <p>Potential lawsuits and penalties</p> Signup and view all the answers

    What is one effect of the Broad-Based Black Economic Empowerment Act on businesses that do not comply with its provisions?

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

    In what way does non-compliance with the National Credit Act affect businesses?

    <p>Stricter criteria for granting credit</p> Signup and view all the answers

    What is a consequence for businesses that do not provide transparent dealings and high-quality products as required by the Consumer Protection Act?

    <p>Legal challenges and fines</p> Signup and view all the answers

    How do companies address the impact of regulatory shifts and economic fluctuations on their business strategies?

    <p>Adapt strategies through PESTLE analysis</p> Signup and view all the answers

    What is a recommended step for companies to enhance workforce capabilities in line with compliance recommendations?

    <p>Utilize available SETA grants</p> Signup and view all the answers

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

    <p>Attracting qualified candidates to fill vacancies</p> Signup and view all the answers

    During the Selection process, what is the purpose of Background Checks?

    <p>Verifying educational background and work history</p> Signup and view all the answers

    In the context of Induction (Onboarding), what is the role of Training Sessions?

    <p>Introducing new employees to corporate culture</p> Signup and view all the answers

    What is the strategic focus of Placement within Human Resource Management?

    <p>Aligning individual abilities with position requirements</p> Signup and view all the answers

    When determining salaries, what is the key aspect of a Compensation Strategy?

    <p>Ensuring legal compliance</p> Signup and view all the answers

    What is the primary impact of Fringe Benefits on employees according to the text?

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

    What is the primary focus of the Implementation phase in the strategic management process?

    <p>Putting formulated strategies into action</p> Signup and view all the answers

    Which tool assists businesses in understanding the competitive landscape by analyzing competition intensity, supplier and buyer power, and threat of new entrants?

    <p>Porter's Five Forces</p> Signup and view all the answers

    In the context of business strategies, what does 'Horizontal Integration' involve?

    <p>Expanding within the same level of operation</p> Signup and view all the answers

    What does 'Market Development' as an intensive strategy primarily involve?

    <p>Entering new markets with existing products</p> Signup and view all the answers

    Which strategy involves scaling down operations to become more financially stable?

    <p>Retrenchment</p> Signup and view all the answers

    What is the main goal of 'Concentric Diversification' as a strategy?

    <p>Adding new but related products or services</p> Signup and view all the answers

    'Divestiture' as a defensive strategy involves:

    <p>Selling off underperforming portions of the company</p> Signup and view all the answers

    'Liquidation' as a defensive strategy entails:

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

    'Backward Vertical Integration' primarily involves:

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

    'Market Penetration' strategy focuses on:

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

    In the context of business operations, what does the concept of quality mainly focus on?

    <p>Customer satisfaction and exceeding expectations</p> Signup and view all the answers

    Which function in a business is responsible for ensuring materials are both cost-effective and meet quality specifications?

    <p>Production Function</p> Signup and view all the answers

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

    <p>Continuous skills development for quality work</p> Signup and view all the answers

    How does Total Quality Management (TQM) contribute to reducing wastage and costs in businesses?

    <p>Through continuous improvements to processes and systems</p> Signup and view all the answers

    What does Quality Assurance (QA) mainly focus on within a business?

    <p>Implementation of quality system activities</p> Signup and view all the answers

    Which business structure requires systematic management of quality integrated into every department for success?

    <p>Large Businesses</p> Signup and view all the answers

    How does Total Quality Management (TQM) strive to impact customer satisfaction?

    <p>By meeting or exceeding customer expectations</p> Signup and view all the answers

    What role does Total Client Satisfaction play in the context of Total Quality Management (TQM)?

    <p>Meeting or exceeding customer expectations</p> Signup and view all the answers

    How does Quality Control (QC) differ from Quality Management (QM)?

    <p>QM guides development, QC fulfills quality requirements.</p> Signup and view all the answers

    What area of a business is mainly responsible for ensuring hiring skilled employees and providing ongoing training?

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

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