Business Studies Term 1 Test
230 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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

  • To enforce tax regulations on businesses
  • To improve productivity and competitiveness in the workforce (correct)
  • To promote consumer rights
  • To regulate labor standards in South Africa

    • How does the Skills Development Act impact businesses?

  • By decreasing operational costs
  • By reducing the need for continuous learning
  • By mandating businesses to contribute to a levy (correct)
  • By providing direct grants to non-compliant businesses

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

  • More potential tax incentives (correct)
  • Increased operational costs
  • Less skilled workforce
  • Decreased productivity

    • What happens to businesses failing to comply with the Skills Development Act?

    <p>They face penalties and miss out on benefits</p> Signup and view all the answers

    How does the Skills Development Act aim to empower individuals?

    <p>By promoting inclusivity in employment</p> Signup and view all the answers

    What role does the government play in shaping an equitable business environment?

    <p>Shaping regulatory frameworks through legislation</p> Signup and view all the answers

    What is the purpose of evaluating strategies in a business context?

    <p>To measure their impact on business performance</p> Signup and view all the answers

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

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

    What does backward vertical integration involve?

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

    Which strategy involves expanding into totally unrelated business activities?

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

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

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

    What does Market Penetration strategy aim to achieve?

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

    What does Retrenchment involve as a defensive strategy for businesses?

    <p>Scaling down operations</p> Signup and view all the answers

    Porter's Five Forces assists businesses in understanding which aspect of the business environment?

    <p>Competition intensity</p> Signup and view all the answers

    Product Development as a strategy involves:

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

    What is the primary goal of ethical behavior in a business context?

    <p>Building trust with stakeholders</p> Signup and view all the answers

    Which of the following is an example of unethical business practice?

    <p>Misleading advertising</p> Signup and view all the answers

    What is a key aspect of professionalism in business?

    <p>Continuous skill enhancement</p> Signup and view all the answers

    How are ethical behavior and professional behavior related?

    <p>Ethical behavior dictates professional behavior</p> Signup and view all the answers

    What can organizations do to foster ethical and professional environments?

    <p>Development and enforcement of codes of conduct</p> Signup and view all the answers

    Which of the following is NOT an example of professional behavior in business?

    <p>Negligence in fulfilling job responsibilities</p> Signup and view all the answers

    What is a consequence of unethical business practices?

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

    What is a potential drawback of using the Delphi Technique for problem-solving?

    <p>May be time-consuming</p> Signup and view all the answers

    Which problem-solving technique provides a structured way to assess change initiatives?

    <p>Force Field Analysis</p> Signup and view all the answers

    What is a characteristic of Brainstorming as mentioned in the text?

    <p>Generates a wide range of ideas quickly</p> Signup and view all the answers

    Why is it important for organizations to regularly evaluate and refine strategies for promoting creativity?

    <p>To adapt to evolving business landscapes and challenges</p> Signup and view all the answers

    Which aspect is essential for businesses operating in dynamic and complex environments?

    <p>Mastering creative thinking and problem-solving</p> Signup and view all the answers

    What is a potential limitation of the Nominal Group Technique?

    <p>Limits the free flow of ideas</p> Signup and view all the answers

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

    <p>Aims to eliminate unfair discrimination and promote affirmative action</p> Signup and view all the answers

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

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

    Which Act requires businesses to adhere to fair labor practices regarding hiring, firing, and worker treatment?

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

    What are some consequences of non-compliance with the National Credit Act, 2005?

    <p>Fines and legal consequences</p> Signup and view all the answers

    Which act sets minimum employment conditions and ensures social and economic development?

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

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

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

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

    <p>Engage in collective bargaining</p> Signup and view all the answers

    How does non-compliance with the Basic Conditions of Employment Act, 1997 impact businesses?

    <p>Results in legal sanctions and fines</p> Signup and view all the answers

    What is the main objective of the Recruitment process?

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

    Which component of Selection involves verifying the educational background, work history, and references of candidates?

    <p>Background Checks</p> Signup and view all the answers

    What is the primary goal of Induction (Onboarding)?

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

    In Salary Determination, what does 'Compensation Strategy' involve?

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

    Which fringe benefit can contribute to enhanced job satisfaction and improved health for employees?

    <p>Wellness programs</p> Signup and view all the answers

    Which employment legislation governs collective bargaining and industrial relations?

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

    What does 'Sourcing' involve in the Recruitment process?

    <p>Utilizing multiple channels to attract candidates</p> Signup and view all the answers

    What is the purpose of 'Role Fit' in the Placement process?

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

    'Benefits Package' in Salary Determination includes:

    <p>Health insurance, retirement plans, bonuses, and non-monetary benefits</p> Signup and view all the answers

    What kind of assessments are conducted as part of the Selection process?

    <p>Cognitive tests, personality inventories, and technical exams</p> Signup and view all the answers

    What is the key difference between problem-solving and decision-making?

    <p>Problem-solving involves identifying, analyzing, and resolving issues in a structured manner, while decision-making is choosing between different solutions.</p> Signup and view all the answers

    Which technique utilizes a panel's expertise through iterative questionnaires to reach a consensus?

    <p>Delphi Technique</p> Signup and view all the answers

    What is a key benefit of fostering creative thinking in the workplace?

    <p>Enhances problem-solving capabilities</p> Signup and view all the answers

    How does Force Field Analysis contribute to problem-solving?

    <p>By evaluating driving and restraining forces impacting change initiatives</p> Signup and view all the answers

    What is a strategy for fostering creativity in the workplace that involves providing resources and dedicated time?

    <p>Providing time and resources for exploration</p> Signup and view all the answers

    In problem-solving, which step involves deciding on the most effective solution based on evaluation?

    <p>Choosing the best solution</p> Signup and view all the answers

    What is a common characteristic of ethical codes that need regular review?

    <p>Link to societal expectations</p> Signup and view all the answers

    Why is stakeholder engagement important in discussions about ethical practices?

    <p>To promote transparency and accountability</p> Signup and view all the answers

    What is the role of an Ethics Committee in a business setting?

    <p>To resolve ethical dilemmas and oversee compliance</p> Signup and view all the answers

    Which problem-solving technique encourages idea generation in a group setting?

    <p>Nominal Group Technique</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

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

    <p>May incur penalties and miss out on grants</p> Signup and view all the answers

    Which aspect does the Skills Development Act, 1998 focus on empowering through training and development?

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

    What impact does complying with the Skills Development Act, 1998, have on businesses despite initial operational costs?

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

    In what way does the Skills Development Act, 1998 aim to improve businesses in South Africa?

    <p>By promoting continuous learning and development</p> Signup and view all the answers

    What is the significance of the Skills Development Levy imposed by the Skills Development Act, 1998?

    <p>It promotes a culture of continuous learning</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 strategy involves expanding within the same level of business activities?

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

    What does 'Conglomerate Diversification' involve?

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

    In strategic management, what is the purpose of conducting a SWOT Analysis?

    <p>To identify internal strengths and weaknesses, and external opportunities and threats</p> Signup and view all the answers

    What is the key benefit of utilizing Porter's Five Forces in business strategy?

    <p>Helps in identifying the competitive landscape</p> Signup and view all the answers

    Which type of strategy involves moving closer to the source of raw materials?

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

    What is a core element of PESTLE Analysis for businesses?

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

    'Market Development' as a strategy involves:

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

    'Retrenchment' as a defensive strategy for businesses involves:

    <p>'Scaling down operations to become more financially stable'</p> Signup and view all the answers

    'Liquidation' as a defensive strategy for businesses entails:

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

    What is a potential downside of using Brainstorming for idea generation?

    <p>It may need guidance to ensure productivity</p> Signup and view all the answers

    What is a key consideration when applying the Delphi Technique for gaining insights from external experts?

    <p>It is time-consuming</p> Signup and view all the answers

    How does Force Field Analysis contribute to assessing change initiatives?

    <p>By offering a structured way to assess change initiatives</p> Signup and view all the answers

    What is a potential limitation of utilizing the Nominal Group Technique in problem-solving?

    <p>It may limit the free flow of ideas</p> Signup and view all the answers

    Why should organizations regularly evaluate and refine their strategies for promoting creativity?

    <p>To adapt to evolving business landscapes and emerging challenges</p> Signup and view all the answers

    What is the essence of mastering creative thinking and problem-solving for businesses?

    <p>Adapting to dynamic and complex environments through structured approaches</p> Signup and view all the answers

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

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

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

    <p>Leads to legal consequences and fines</p> Signup and view all the answers

    What is a key recommendation for compliance with the Employment Equity Act, 1998?

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

    How does the Labour Relations Act, 1995 impact businesses?

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

    What purpose does the Basic Conditions of Employment Act, 1997 serve?

    <p>Sets minimum employment conditions</p> Signup and view all the answers

    Why is compliance with the Consumer Protection Act, 2008 crucial for businesses?

    <p>To avoid legal consequences and fines</p> Signup and view all the answers

    In what way does the Employment Equity Act, 1998 impact HR policies within businesses?

    <p>Requires changes in HR policies</p> Signup and view all the answers

    How does the National Credit Act, 2005 affect sales in businesses?

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

    What is the key difference between problem-solving and decision-making?

    <p>Problem-solving is a structured sequence of steps, while decision-making is a process of choosing between solutions.</p> Signup and view all the answers

    Which technique combines individual idea generation with collective decision-making to solve problems?

    <p>Nominal Group Technique</p> Signup and view all the answers

    Why is creative thinking crucial in a business context?

    <p>To devise innovative solutions and maintain a competitive edge.</p> Signup and view all the answers

    What is the main benefit of encouraging open communication in the workplace for creativity?

    <p>Fostering a culture of innovation</p> Signup and view all the answers

    Which step of problem-solving involves evaluating the feasibility and potential impact of each solution?

    <p>Evaluating Alternatives</p> Signup and view all the answers

    What does the Delphi Technique utilize to reach a consensus in problem-solving?

    <p>Expertise of a panel</p> Signup and view all the answers

    How does Force Field Analysis contribute to problem-solving?

    <p>By evaluating driving and restraining forces for change initiatives</p> Signup and view all the answers

    What is the essence of creative thinking in a business context?

    <p>Innovative approaches to challenges</p> Signup and view all the answers

    Which aspect is crucial for fostering creativity in the workplace?

    <p>&quot;Encourage Open Communication&quot; culture</p> Signup and view all the answers

    When solving problems, what does implementing the solution involve?

    <p>Executing the chosen solution effectively</p> Signup and view all the answers

    What is the primary difference between ethical behavior and professional behavior in a business context?

    <p>Ethical behavior is rooted in moral principles, while professional behavior is dictated by industry standards.</p> Signup and view all the answers

    Why is ethical behavior crucial for maintaining trust with stakeholders in a business?

    <p>To protect the organization's reputation and build trust with stakeholders.</p> Signup and view all the answers

    Which of the following is an example of unprofessional business practices?

    <p>Discriminatory behavior or harassment in the workplace.</p> Signup and view all the answers

    Why should organizations enforce codes of conduct related to ethical and professional behavior?

    <p>To outline expected behaviors and consequences of unethical actions.</p> Signup and view all the answers

    What can foster ethical and professional environments in organizations according to the text?

    <p>Open lines of communication that encourage reporting unethical behavior.</p> Signup and view all the answers

    How do ethical behavior and professional behavior differ according to the text?

    <p>Ethical behavior is rooted in moral principles, while professional behavior is dictated by industry standards.</p> Signup and view all the answers

    Why should leaders within an organization exemplify ethical and professional behavior?

    <p>To set a standard for ethical and professional conduct for all employees.</p> Signup and view all the answers

    What role does transparency play in fostering ethical and professional environments within organizations?

    <p>Allows employees to voice concerns or report unethical behavior without fear of retaliation.</p> Signup and view all the answers

    How can organizations ensure accountability for ethical and professional actions across all levels?

    <p>By setting systems that hold individuals accountable for their actions at all levels.</p> Signup and view all the answers

    Why is compliance with legal and environmental regulations considered part of ethical business practices?

    <p>To ensure organizations operate within the boundaries of the law and protect the environment.</p> Signup and view all the answers

    What is the main purpose of preliminary screening in the Selection process?

    <p>To make the first cut based on resumes and cover letters</p> Signup and view all the answers

    What is a key challenge in the Recruitment process according to the text?

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

    What is the purpose of 'Matching' in the Placement process?

    <p>Aligning selected candidates with the organization's requirements</p> Signup and view all the answers

    What is an essential component of the Compensation Strategy in Salary Determination?

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

    Why is a comprehensive orientation program crucial in the Induction process?

    <p>To introduce new hires to corporate culture and values</p> Signup and view all the answers

    Which legislation promotes equal opportunity and fair treatment in employment through affirmative action?

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

    What impact do fringe benefits have on employers according to the text?

    <p>Better recruitment and retention rates</p> Signup and view all the answers

    What does 'Legislation Impact' aim to regulate according to the text?

    <p>Employment practices related to collective bargaining</p> Signup and view all the answers

    Why are pay scales important in Salary Determination processes?

    <p>To establish grades based on experience, education, and skill level</p> Signup and view all the answers

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

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

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

    <p>May result in penalties and loss of subsidies</p> Signup and view all the answers

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

    <p>To promote continuous learning and development</p> Signup and view all the answers

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

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

    What is the consequence for businesses that fail to comply with the Skills Development Act, 1998 in South Africa?

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

    How does the Skills Development Act, 1998 contribute to shaping an equitable business environment in South Africa?

    <p>By promoting inclusivity and fair employment standards</p> Signup and view all the answers

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

    <p>Formulating strategies aligning with core competencies</p> Signup and view all the answers

    Which tool helps businesses scan their external macro-environmental factors?

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

    What does Horizontal Integration entail for businesses?

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

    What is the aim of Market Development as an intensive strategy?

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

    What does Retrenchment involve as a defensive strategy for businesses?

    <p>Scaling down operations for financial stability</p> Signup and view all the answers

    Which outcome is expected from regular monitoring and evaluation of business strategies?

    <p>Improved strategy effectiveness</p> Signup and view all the answers

    In what way does Forward Vertical Integration differ from Backward Vertical Integration?

    <p>The movement towards customers vs. towards raw material sources</p> Signup and view all the answers

    Which phase of the strategic management process requires effective resource allocation and staff mobilization?

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

    What is a key aspect of Diversification Strategies for businesses?

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

    How does evaluating strategies against set objectives contribute to business development?

    <p>It identifies areas for improvement</p> Signup and view all the answers

    Which method is best suited for ensuring equal participation while limiting the free flow of ideas in problem-solving?

    <p>Nominal Group Technique</p> Signup and view all the answers

    What is a drawback of using the Force Field Analysis technique in problem-solving?

    <p>Thorough analysis needed</p> Signup and view all the answers

    Why might Brainstorming need guidance for ensuring productivity in problem-solving?

    <p>May limit free flow of ideas</p> Signup and view all the answers

    What is necessary for businesses to effectively navigate challenges and seize opportunities for innovation and growth?

    <p>Regularly evaluating and refining strategies for promoting creativity</p> Signup and view all the answers

    What is a key requirement for businesses operating in dynamic and complex environments according to the text?

    <p>Mastering creative thinking and problem-solving</p> Signup and view all the answers

    Why should organizations focus on regularly evaluating and refining strategies for promoting creativity?

    <p>To adapt to evolving business landscapes</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

    Why is compliance with the Employment Equity Act, 1998 important for businesses?

    <p>It promotes affirmative action to redress past inequalities</p> Signup and view all the answers

    How does non-compliance with the Basic Conditions of Employment Act, 1997 affect businesses?

    <p>Leads to legal challenges and fines</p> Signup and view all the answers

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

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

    Why is adherence to fair labor practices essential for businesses under the Labour Relations Act, 1995?

    <p>To maintain a stable labor environment</p> Signup and view all the answers

    Which Act requires businesses to develop an employment equity plan and conduct regular audits?

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

    In what way does non-compliance with the Consumer Protection Act, 2008 impact businesses?

    <p>Can lead to legal challenges, fines, and reputational harm</p> Signup and view all the answers

    What is the key focus of the Basic Conditions of Employment Act, 1997 on businesses?

    <p>Setting minimum employment conditions for economic development</p> Signup and view all the answers

    Why should businesses engage in collective bargaining as recommended under the Labour Relations Act, 1995?

    <p>To maintain a stable labor environment</p> Signup and view all the answers

    What is the purpose of 'Matching' in the Placement process?

    <p>Aligning the candidate's abilities with the job requirements.</p> Signup and view all the answers

    How does 'Role Fit' contribute to the Placement process?

    <p>Ensures the individual fits the organizational structure and culture.</p> Signup and view all the answers

    What is a primary focus of 'Pay Scales' in Salary Determination processes?

    <p>Establishing grades and steps based on experience, education, and skill level.</p> Signup and view all the answers

    What is a key challenge in the Recruitment process?

    <p>Reducing time-to-hire while ensuring diversity and inclusion.</p> Signup and view all the answers

    Why is 'Skills Development Act' important for businesses?

    <p>It aims to improve workforce skills and provide quality employment opportunities.</p> Signup and view all the answers

    What is the significance of 'Fringe Benefits' for employers according to the text?

    <p>Improving employee work-life balance.</p> Signup and view all the answers

    'Labour Relations Act' primarily governs which aspect of business operations?

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

    'Induction (Onboarding)' aims to integrate new hires into an organization by primarily providing what?

    <p>&quot;Orientation Programs&quot; introducing new employees to corporate culture and values.</p> Signup and view all the answers

    'Selection' processes involve what to help make informed hiring decisions according to the text?

    <p>&quot;Evaluating all data gathered during selection processes.&quot;</p> Signup and view all the answers

    What is a common characteristic of ethical behavior in a business setting?

    <p>Transparency in operations and decision-making</p> Signup and view all the answers

    Which of the following is considered an unethical business practice based on the text?

    <p>Negligence in fulfilling job responsibilities</p> Signup and view all the answers

    How do ethical and professional behaviors relate to each other?

    <p>Professional behavior is the foundation for ethical behavior</p> Signup and view all the answers

    In the context of business professionalism, what does 'transparent communication' aim to achieve?

    <p>Fostering open lines of communication for voicing concerns</p> Signup and view all the answers

    What is a key strategy for organizations to foster ethical environments as mentioned in the text?

    <p>Adherence to industry-specific codes of conduct</p> Signup and view all the answers

    Why is professionalism essential in business settings?

    <p>To demonstrate commitment to effective performance</p> Signup and view all the answers

    Which practice demonstrates unethical behavior in a business context according to the text?

    <p>'Misleading advertising or product misrepresentation'</p> Signup and view all the answers

    'Effective use of work time and resources' is associated with which type of behavior in business?

    <p>'Unprofessional'</p> Signup and view all the answers

    'Breach of confidentiality and misuse of sensitive information' is an example of:

    <p>'Unethical Business Practices'</p> Signup and view all the answers

    What distinguishes problem-solving from decision-making?

    <p>Problem-solving entails resolving issues through a structured sequence, while decision-making involves selecting a course of action.</p> Signup and view all the answers

    Which problem-solving step involves deciding on the most effective solution based on evaluation?

    <p>Choose the Best Solution</p> Signup and view all the answers

    What is a key characteristic of the Force Field Analysis technique?

    <p>Examines driving and restraining forces to evaluate change viability.</p> Signup and view all the answers

    Why is creative thinking crucial in a business context?

    <p>It improves team collaboration and morale.</p> Signup and view all the answers

    What does fostering creative thinking in the workplace primarily aim to achieve?

    <p>Promoting proactive approaches to challenges.</p> Signup and view all the answers

    How does the Nominal Group Technique differ from Brainstorming in problem-solving?

    <p>Nominal Group Technique encourages individual idea generation, while Brainstorming involves collective decision-making.</p> Signup and view all the answers

    What is the primary purpose of an Ethics Committee within a business setting?

    <p>To establish codes of conduct and professional behavior.</p> Signup and view all the answers

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

    <p>Empowering individuals through training and development</p> Signup and view all the answers

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

    <p>Increases operational costs in the long run</p> Signup and view all the answers

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

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

    How does the Skills Development Act, 1998 contribute to South Africa's competitiveness in the international market?

    <p>By improving productivity through skill development</p> Signup and view all the answers

    What is a likely long-term benefit for businesses that comply with the Skills Development Act, 1998?

    <p>Tax incentives and grants</p> Signup and view all the answers

    How does the Skills Development Levy imposed by the Skills Development Act, 1998 foster continuous learning?

    <p>By supporting training and development initiatives</p> Signup and view all the answers

    What do businesses primarily assess through SWOT Analysis?

    <p>Internal strengths and weaknesses, external opportunities and threats</p> Signup and view all the answers

    In strategic management, what is the essence of Formulation phase?

    <p>Setting clear objectives and understanding internal strengths and weaknesses</p> Signup and view all the answers

    Which strategy involves introducing new products into existing markets?

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

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

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

    In strategic management, what is the central goal of Integration Strategies?

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

    'Liquidation' as a defensive strategy for businesses involves:

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

    'Horizontal Integration' strategy in business involves:

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

    'Retrenchment' as a defensive strategy focuses on:

    <p>Scaling down operations to become more financially stable</p> Signup and view all the answers

    'PESTLE Analysis' assists businesses in understanding:

    <p>'PESTLE Analysis' allows businesses to scan their external macro-environmental factors.</p> Signup and view all the answers

    What is a potential challenge associated with using the Nominal Group Technique in problem-solving?

    <p>May limit equal participation</p> Signup and view all the answers

    Which technique offers a structured way to assess change initiatives but might be time-consuming?

    <p>Force Field Analysis</p> Signup and view all the answers

    What is a potential drawback of implementing a structured approach to problem-solving as discussed in the text?

    <p>Limiting creativity</p> Signup and view all the answers

    Why is it essential for businesses to master creative thinking and problem-solving according to the text?

    <p>To adapt to evolving business landscapes</p> Signup and view all the answers

    What is the primary focus of fostering an environment that encourages creative thought in organizations?

    <p>Promoting creativity to adapt to challenges</p> Signup and view all the answers

    In businesses, which technique may require guidance to ensure productivity even though it generates a wide range of ideas quickly?

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

    What is the primary difference between ethical behavior and professional behavior in business as explained in the text?

    <p>Ethical behavior is rooted in universal moral principles, while professional behavior is often dictated by industry standards.</p> Signup and view all the answers

    Which of the following is an example of unethical business practices according to the text?

    <p>Misleading advertising</p> Signup and view all the answers

    How can organizations promote ethical and professional environments based on the text?

    <p>By fostering transparent communication and accountability</p> Signup and view all the answers

    Which of the following is NOT a strategy mentioned in the text for fostering ethical and professional environments within organizations?

    <p>Isolation from stakeholders</p> Signup and view all the answers

    What role does professionalism play in business according to the text?

    <p>It demonstrates commitment to effective performance</p> Signup and view all the answers

    Which of the following is a key responsibility associated with ethical behavior in business?

    <p>Compliance with legal regulations</p> Signup and view all the answers

    How do ethics and professionalism differ in the context of business as outlined in the text?

    <p>Ethics are universal moral principles, while professionalism pertains to industry-specific standards.</p> Signup and view all the answers

    What does professionalism encompass beyond ethical behavior according to the text?

    <p>'Effective performance' in a given field</p> Signup and view all the answers

    Why is transparency considered crucial for ethical and professional environments within organizations?

    <p>To maintain trust with stakeholders</p> Signup and view all the answers

    In the context of business, what purpose do codes of conduct serve as highlighted in the text?

    <p>To set guidelines for expected behaviors and consequences of unethical actions</p> Signup and view all the answers

    What is the key difference between problem-solving and decision-making in a business context?

    <p>Problem-solving focuses on resolving issues, while decision-making involves evaluating alternative solutions.</p> Signup and view all the answers

    Which technique encourages the generation of creative ideas within a group setting to solve problems?

    <p>Nominal Group Technique</p> Signup and view all the answers

    In problem-solving, what does the 'Evaluate Alternatives' step primarily focus on?

    <p>Assessing the feasibility and impact of each solution</p> Signup and view all the answers

    Why is fostering creative thinking crucial in the workplace according to the text?

    <p>To enhance problem-solving capabilities</p> Signup and view all the answers

    Which strategy is recommended for fostering an environment conducive to creativity in the workplace?

    <p>Recognizing and rewarding creativity</p> Signup and view all the answers

    What is the primary focus of the Delphi Technique in problem-solving?

    <p>Reaching a consensus through iterative questionnaires</p> Signup and view all the answers

    How does the Force Field Analysis technique contribute to problem-solving processes?

    <p>By evaluating driving and restraining forces</p> Signup and view all the answers

    What role do Ethics Committees play in a business context according to the text?

    <p>Reviewing practices, resolving ethical dilemmas, and ensuring compliance</p> Signup and view all the answers

    What is a key benefit of encouraging open communication in the workplace for creativity?

    <p>Enhancing team collaboration and morale</p> Signup and view all the answers

    What distinguishes the Nominal Group Technique from other problem-solving techniques?

    <p>It involves collective decision-making without individual idea generation.</p> Signup and view all the answers

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

    <p>Attracting penalties and back payments</p> Signup and view all the answers

    Which Act aims to accelerate the economic participation of black individuals to rectify past imbalances?

    <p>Broad-Based Black Economic Empowerment Act, 2003</p> Signup and view all the answers

    What is a key recommendation for compliance under the Employment Equity Act, 1998?

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

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

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

    Which Act requires businesses to adhere to fair labor practices regarding collective bargaining and dispute resolution?

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

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

    <p>Limiting access to business opportunities</p> Signup and view all the answers

    Which Act aims at eliminating unfair discrimination and promoting affirmative action?

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

    How does the Consumer Protection Act, 2008 impact businesses?

    <p>Leads to legal challenges and fines</p> Signup and view all the answers

    What is the primary impact of the Basic Conditions of Employment Act, 1997 on businesses?

    <p>Standardizing employment conditions</p> Signup and view all the answers

    What is the primary goal of conducting job analysis during the Recruitment process?

    <p>To gather information about job responsibilities and required qualifications.</p> Signup and view all the answers

    Why is aligning the abilities and aspirations of a candidate with the opportunities of a position important in the Placement process?

    <p>To facilitate the employee's growth and integration within the company.</p> Signup and view all the answers

    Which aspect is NOT typically considered in establishing pay scales during Salary Determination?

    <p>Number of languages spoken.</p> Signup and view all the answers

    Why is having a comprehensive benefits package important during Salary Determination?

    <p>To align with industry standards and provide additional incentives.</p> Signup and view all the answers

    What is one of the main impacts on employers due to offering fringe benefits to employees?

    <p>Enhanced company reputation.</p> Signup and view all the answers

    Why is thorough background checking essential during the Selection process?

    <p>To verify educational background, work history, and references.</p> Signup and view all the answers

    How does the Labour Relations Act impact business operations according to the text?

    <p>By governing collective bargaining and industrial relations.</p> Signup and view all the answers

    What is the primary purpose of conducting orientation programs during Induction (Onboarding)?

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

    Why is developing a comprehensive compensation strategy crucial in Salary Determination?

    <p>To ensure competitive salary structures aligned with industry standards.</p> Signup and view all the answers

    More Like This

    CH 1: Macro Environment
    78 questions

    CH 1: Macro Environment

    RaptOganesson avatar
    RaptOganesson
    CH 1 SUM: Business Environments
    138 questions

    CH 1 SUM: Business Environments

    RaptOganesson avatar
    RaptOganesson
    Business Studies June exam (Mix)
    268 questions

    Business Studies June exam (Mix)

    GreatestTiger avatar
    GreatestTiger
    Business Studies November exam (Mix)
    268 questions

    Business Studies November exam (Mix)

    GreatestTiger avatar
    GreatestTiger
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser