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Questions and Answers

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?

  • 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?

  • 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?

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

    In which business sector does manufacturing occur?

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

    Which strategy involves minimizing operations to stabilize a business?

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

    What is the purpose of the Consumer Protection Act?

    <p>To protect consumers through fair business practices</p> Signup and view all the answers

    Which of the following strategies focuses on growing market share in existing markets?

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

    What is a key characteristic of the tertiary sector?

    <p>It provides services to consumers.</p> Signup and view all the answers

    Which strategy can be considered a type of unrelated diversification?

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

    Which business strategy is primarily focused on controlling supply chains or distribution networks?

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

    What is the primary goal of the defensive business strategy?

    <p>Protecting core operations from external threats</p> Signup and view all the answers

    Which business strategy involves reducing risk by expanding into different but related sectors?

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

    What role does compliance with legislation play in business operations?

    <p>It fosters sustainability and ethical standards.</p> Signup and view all the answers

    Which of the following is NOT a primary focus of the intensive business strategy?

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

    Which acts require sectors to align with labor laws and consumer protection?

    <p>Employment Equity Act and Broad-Based Black Economic Empowerment Act</p> Signup and view all the answers

    What is a primary advantage of adopting a diversification strategy?

    <p>It mitigates risk by entering new market segments.</p> Signup and view all the answers

    What aspect is NOT typically addressed by the defensive strategy?

    <p>Investing heavily in new product development</p> Signup and view all the answers

    How does effective service delivery relate to consumer needs?

    <p>It requires adaptability to satisfy varying consumer expectations.</p> Signup and view all the answers

    What is a key benefit of complying with environmental regulations?

    <p>It enhances the company’s reputation and legal security.</p> Signup and view all the answers

    What is a primary focus of the macro environment analysis using PESTLE factors?

    <p>External forces impacting businesses</p> Signup and view all the answers

    What is a significant consequence for businesses failing to comply with the Labour Relations Act?

    <p>Legal action and potential industrial unrest</p> Signup and view all the answers

    Which of the following is an example of horizontal integration?

    <p>A restaurant chain opening new branches</p> Signup and view all the answers

    In the context of strategic management, what is the purpose of evaluation?

    <p>To measure outcomes and identify areas for correction</p> Signup and view all the answers

    What defines the primary sector of business?

    <p>Extraction and harvesting of natural resources</p> Signup and view all the answers

    Which type of strategy involves scaling down operations?

    <p>Defensive strategy</p> Signup and view all the answers

    What characterizes the secondary sector in business?

    <p>Manufacturing and processing of materials</p> Signup and view all the answers

    What is a key focus of the Broad-Based Black Economic Empowerment Act?

    <p>Promotion of race and gender inclusivity in business ownership</p> Signup and view all the answers

    Which analysis tool is primarily used for assessing the internal strengths and weaknesses of a business?

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

    How does the National Credit Act primarily protect consumers?

    <p>By requiring stringent affordability assessments from credit providers</p> Signup and view all the answers

    What is the primary purpose of the diversification strategy in business?

    <p>To expand into new markets unrelated to the current offerings</p> Signup and view all the answers

    Which business strategy focuses primarily on protecting existing operations?

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

    How does effective service delivery impact consumer needs according to business strategies?

    <p>It enhances customer loyalty and satisfaction</p> Signup and view all the answers

    What is a significant consequence of non-compliance with labor laws in business?

    <p>Legal penalties and financial losses</p> Signup and view all the answers

    Which strategy is most aligned with improving existing products and market share?

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

    What is a key element of effective integration in business strategies?

    <p>Controlling supply chains or distribution networks</p> Signup and view all the answers

    Why is alignment with the Broad-Based Black Economic Empowerment Act necessary for sectors?

    <p>To ensure compliance and promote ethical standards</p> Signup and view all the answers

    Which of the following best describes the impact of environmental regulations on business?

    <p>They might necessitate costly operational changes</p> Signup and view all the answers

    What is a common misconception regarding intensive business strategies?

    <p>They are only applicable to large corporations</p> Signup and view all the answers

    What is a critical benefit of compliance with consumer protection laws?

    <p>It fosters sustainable business practices.</p> Signup and view all the answers

    Which PESTLE factor deals with the influence of laws and compliance requirements on businesses?

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

    What is a defining feature of the primary sector of business?

    <p>Extracting or harvesting resources</p> Signup and view all the answers

    Which strategy aims to stabilize a business by reducing the scale of operations?

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

    Which act requires businesses to create and submit employment equity plans?

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

    What type of analysis primarily examines the external environment to identify risks and opportunities for a business?

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

    Which type of diversification involves gaining entry into completely unrelated business areas?

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

    Which of the following is a consequence of businesses failing to comply with the National Credit Act?

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

    What does the Skills Development Act primarily aim to achieve?

    <p>Enhance workforce training and skills</p> Signup and view all the answers

    Which business strategy focuses on expanding into new markets or demographics?

    <p>Market development</p> Signup and view all the answers

    What is the main objective of diversification in business strategy?

    <p>To reduce financial risks by entering new markets</p> Signup and view all the answers

    Which business strategy focuses on enhancing growth through market expansion?

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

    What is a potential risk businesses face if they do not comply with labor laws?

    <p>Legal penalties and loss of credibility</p> Signup and view all the answers

    How can effective service delivery impact consumer needs?

    <p>By ensuring consumer standards are met</p> Signup and view all the answers

    Which of the following best describes the defensive business strategy?

    <p>Protecting core operations by reorganizing nonviable segments</p> Signup and view all the answers

    What is the significance of aligning with the Employment Equity Act in a business?

    <p>To promote fair treatment and equal opportunities in the workforce</p> Signup and view all the answers

    Which strategy is characterized by controlling supply chains?

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

    What role does compliance with environmental regulations play for businesses?

    <p>It ensures sustainability and ethical practices are upheld</p> Signup and view all the answers

    What does an intensive strategy NOT focus on?

    <p>Expanding into unrelated industries</p> Signup and view all the answers

    Which of the following strategies aims to reduce risk by venturing into new areas?

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

    What is the primary focus of the intensive business strategy?

    <p>Improving existing products and market share</p> Signup and view all the answers

    Which strategy is primarily aimed at protecting a business's core operations?

    <p>Defensive strategy</p> Signup and view all the answers

    What is a significant benefit of compliance with environmental regulations for businesses?

    <p>Enhancing sustainability and ethical standards</p> Signup and view all the answers

    Which type of diversification aims to reduce risk by entering completely unrelated fields?

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

    Which act emphasizes compliance with labor laws in business operations?

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

    What is the purpose of the integration strategy in business?

    <p>To expand market share by acquiring competitors</p> Signup and view all the answers

    Which of the following best describes diversification as a business strategy?

    <p>Reducing operational risks by entering related or unrelated areas</p> Signup and view all the answers

    What is a key result of sectors aligning with consumer protection legislation?

    <p>Greater legal security and ethical standards</p> Signup and view all the answers

    Which of the following statements regarding the Secondary Sector is true?

    <p>It transforms raw materials into finished products.</p> Signup and view all the answers

    What does a successful SWOT analysis primarily identify?

    <p>Strategic focus by matching strengths to opportunities.</p> Signup and view all the answers

    What is the primary objective of the Employment Equity Act?

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

    In which context are integration strategies primarily applied?

    <p>To expand operations vertically or horizontally.</p> Signup and view all the answers

    Which factor does PESTLE analysis assess in a business environment?

    <p>External political, economic, social, technological, legal, and environmental influences.</p> Signup and view all the answers

    What consequence might a business face for noncompliance with the National Credit Act?

    <p>Legal fines and enforcement actions.</p> Signup and view all the answers

    Which strategy involves maintaining operations by divesting from less profitable units?

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

    How does the Primary Sector interact with natural resources?

    <p>It has limited control over resource availability.</p> Signup and view all the answers

    What is a common outcome of implementing effective strategic evaluation?

    <p>Refinement and adjustment of strategies for future performance.</p> Signup and view all the answers

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