Podcast
Questions and Answers
What is the primary goal of the Skills Development Act?
What is the primary goal of the Skills Development Act?
- To eliminate unfair discrimination
- To promote fair employment practices
- To regulate credit providers
- To improve the skills base of the workforce (correct)
Which act aims to eliminate unfair discrimination and mandates affirmative action for disadvantaged groups?
Which act aims to eliminate unfair discrimination and mandates affirmative action for disadvantaged groups?
- Basic Conditions of Employment Act
- Consumer Protection Act
- Labour Relations Act
- Employment Equity Act (correct)
What are the components of Porter's Five Forces model?
What are the components of Porter's Five Forces model?
- Company strengths, external opportunities, competitive pricing, supplier relationships
- Rivalry, threat of new entrants, threat of substitutes, bargaining power of suppliers, bargaining power of buyers (correct)
- Rivalry, threat of economic downturn, customer loyalty, market research
- Market share growth, advertisement strategies, customer retention, technological advancements
Which of the following is NOT a focus of PESTLE analysis?
Which of the following is NOT a focus of PESTLE analysis?
In which business sector does manufacturing occur?
In which business sector does manufacturing occur?
Which strategy involves minimizing operations to stabilize a business?
Which strategy involves minimizing operations to stabilize a business?
What is the purpose of the Consumer Protection Act?
What is the purpose of the Consumer Protection Act?
Which of the following strategies focuses on growing market share in existing markets?
Which of the following strategies focuses on growing market share in existing markets?
What is a key characteristic of the tertiary sector?
What is a key characteristic of the tertiary sector?
Which strategy can be considered a type of unrelated diversification?
Which strategy can be considered a type of unrelated diversification?
Which business strategy is primarily focused on controlling supply chains or distribution networks?
Which business strategy is primarily focused on controlling supply chains or distribution networks?
What is the primary goal of the defensive business strategy?
What is the primary goal of the defensive business strategy?
Which business strategy involves reducing risk by expanding into different but related sectors?
Which business strategy involves reducing risk by expanding into different but related sectors?
What role does compliance with legislation play in business operations?
What role does compliance with legislation play in business operations?
Which of the following is NOT a primary focus of the intensive business strategy?
Which of the following is NOT a primary focus of the intensive business strategy?
Which acts require sectors to align with labor laws and consumer protection?
Which acts require sectors to align with labor laws and consumer protection?
What is a primary advantage of adopting a diversification strategy?
What is a primary advantage of adopting a diversification strategy?
What aspect is NOT typically addressed by the defensive strategy?
What aspect is NOT typically addressed by the defensive strategy?
How does effective service delivery relate to consumer needs?
How does effective service delivery relate to consumer needs?
What is a key benefit of complying with environmental regulations?
What is a key benefit of complying with environmental regulations?
What is a primary focus of the macro environment analysis using PESTLE factors?
What is a primary focus of the macro environment analysis using PESTLE factors?
What is a significant consequence for businesses failing to comply with the Labour Relations Act?
What is a significant consequence for businesses failing to comply with the Labour Relations Act?
Which of the following is an example of horizontal integration?
Which of the following is an example of horizontal integration?
In the context of strategic management, what is the purpose of evaluation?
In the context of strategic management, what is the purpose of evaluation?
What defines the primary sector of business?
What defines the primary sector of business?
Which type of strategy involves scaling down operations?
Which type of strategy involves scaling down operations?
What characterizes the secondary sector in business?
What characterizes the secondary sector in business?
What is a key focus of the Broad-Based Black Economic Empowerment Act?
What is a key focus of the Broad-Based Black Economic Empowerment Act?
Which analysis tool is primarily used for assessing the internal strengths and weaknesses of a business?
Which analysis tool is primarily used for assessing the internal strengths and weaknesses of a business?
How does the National Credit Act primarily protect consumers?
How does the National Credit Act primarily protect consumers?
What is the primary purpose of the diversification strategy in business?
What is the primary purpose of the diversification strategy in business?
Which business strategy focuses primarily on protecting existing operations?
Which business strategy focuses primarily on protecting existing operations?
How does effective service delivery impact consumer needs according to business strategies?
How does effective service delivery impact consumer needs according to business strategies?
What is a significant consequence of non-compliance with labor laws in business?
What is a significant consequence of non-compliance with labor laws in business?
Which strategy is most aligned with improving existing products and market share?
Which strategy is most aligned with improving existing products and market share?
What is a key element of effective integration in business strategies?
What is a key element of effective integration in business strategies?
Why is alignment with the Broad-Based Black Economic Empowerment Act necessary for sectors?
Why is alignment with the Broad-Based Black Economic Empowerment Act necessary for sectors?
Which of the following best describes the impact of environmental regulations on business?
Which of the following best describes the impact of environmental regulations on business?
What is a common misconception regarding intensive business strategies?
What is a common misconception regarding intensive business strategies?
What is a critical benefit of compliance with consumer protection laws?
What is a critical benefit of compliance with consumer protection laws?
Which PESTLE factor deals with the influence of laws and compliance requirements on businesses?
Which PESTLE factor deals with the influence of laws and compliance requirements on businesses?
What is a defining feature of the primary sector of business?
What is a defining feature of the primary sector of business?
Which strategy aims to stabilize a business by reducing the scale of operations?
Which strategy aims to stabilize a business by reducing the scale of operations?
Which act requires businesses to create and submit employment equity plans?
Which act requires businesses to create and submit employment equity plans?
What type of analysis primarily examines the external environment to identify risks and opportunities for a business?
What type of analysis primarily examines the external environment to identify risks and opportunities for a business?
Which type of diversification involves gaining entry into completely unrelated business areas?
Which type of diversification involves gaining entry into completely unrelated business areas?
Which of the following is a consequence of businesses failing to comply with the National Credit Act?
Which of the following is a consequence of businesses failing to comply with the National Credit Act?
What does the Skills Development Act primarily aim to achieve?
What does the Skills Development Act primarily aim to achieve?
Which business strategy focuses on expanding into new markets or demographics?
Which business strategy focuses on expanding into new markets or demographics?
What is the main objective of diversification in business strategy?
What is the main objective of diversification in business strategy?
Which business strategy focuses on enhancing growth through market expansion?
Which business strategy focuses on enhancing growth through market expansion?
What is a potential risk businesses face if they do not comply with labor laws?
What is a potential risk businesses face if they do not comply with labor laws?
How can effective service delivery impact consumer needs?
How can effective service delivery impact consumer needs?
Which of the following best describes the defensive business strategy?
Which of the following best describes the defensive business strategy?
What is the significance of aligning with the Employment Equity Act in a business?
What is the significance of aligning with the Employment Equity Act in a business?
Which strategy is characterized by controlling supply chains?
Which strategy is characterized by controlling supply chains?
What role does compliance with environmental regulations play for businesses?
What role does compliance with environmental regulations play for businesses?
What does an intensive strategy NOT focus on?
What does an intensive strategy NOT focus on?
Which of the following strategies aims to reduce risk by venturing into new areas?
Which of the following strategies aims to reduce risk by venturing into new areas?
What is the primary focus of the intensive business strategy?
What is the primary focus of the intensive business strategy?
Which strategy is primarily aimed at protecting a business's core operations?
Which strategy is primarily aimed at protecting a business's core operations?
What is a significant benefit of compliance with environmental regulations for businesses?
What is a significant benefit of compliance with environmental regulations for businesses?
Which type of diversification aims to reduce risk by entering completely unrelated fields?
Which type of diversification aims to reduce risk by entering completely unrelated fields?
Which act emphasizes compliance with labor laws in business operations?
Which act emphasizes compliance with labor laws in business operations?
What is the purpose of the integration strategy in business?
What is the purpose of the integration strategy in business?
Which of the following best describes diversification as a business strategy?
Which of the following best describes diversification as a business strategy?
What is a key result of sectors aligning with consumer protection legislation?
What is a key result of sectors aligning with consumer protection legislation?
Which of the following statements regarding the Secondary Sector is true?
Which of the following statements regarding the Secondary Sector is true?
What does a successful SWOT analysis primarily identify?
What does a successful SWOT analysis primarily identify?
What is the primary objective of the Employment Equity Act?
What is the primary objective of the Employment Equity Act?
In which context are integration strategies primarily applied?
In which context are integration strategies primarily applied?
Which factor does PESTLE analysis assess in a business environment?
Which factor does PESTLE analysis assess in a business environment?
What consequence might a business face for noncompliance with the National Credit Act?
What consequence might a business face for noncompliance with the National Credit Act?
Which strategy involves maintaining operations by divesting from less profitable units?
Which strategy involves maintaining operations by divesting from less profitable units?
How does the Primary Sector interact with natural resources?
How does the Primary Sector interact with natural resources?
What is a common outcome of implementing effective strategic evaluation?
What is a common outcome of implementing effective strategic evaluation?
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