Chapter 1.docx

**Chapter 1: Business Environments** 1 Name the three business environments. 2 Give a definition of environmental scanning. 3 Why is environmental scanning important in a business context? 4 What is the difference between a crisis and a trend? 5 Explain why environmental scanning is a crucial c...

**Chapter 1: Business Environments** 1 Name the three business environments. 2 Give a definition of environmental scanning. 3 Why is environmental scanning important in a business context? 4 What is the difference between a crisis and a trend? 5 Explain why environmental scanning is a crucial component of strategic planning. 6 Use this diagram to illustrate the process of environmental scanning. **7** What is a SWOT analysis? 8 Why is a SWOT analysis important? 9 What is the difference between a strength and an opportunity? 10 What is the difference between a weakness and a threat? 11 Use the table below to list six examples of possible strengths and weaknesses (internal) and explain when it will be a strength and when it will be a weakness: +-----------------------+-----------------------+-----------------------+ | **Internal factor** | **When will it be a** | **When will it be a | | | | weakness?** | | | **strength?** | | +=======================+=======================+=======================+ | | | | +-----------------------+-----------------------+-----------------------+ | | | | +-----------------------+-----------------------+-----------------------+ | | | | +-----------------------+-----------------------+-----------------------+ | | | | +-----------------------+-----------------------+-----------------------+ | | | | +-----------------------+-----------------------+-----------------------+ | | | | +-----------------------+-----------------------+-----------------------+ 12 When will it be better to locate a manufacturing business close to the source of the raw material? 13 When will it be better to locate a manufacturing business close to the consumer of the distributor of the product? 14 Name and explain five factors that have to be considered before a location is chosen for a business. 15 Porter's five forces model looks at the market environment and describes how businesses need to look at the different forces that may hamper their success. Identify the five forces and describe in brief how each force could have a negative impact on the business. **Porter's forces** **Why is this force a potential threat?** --------------------- ------------------------------------------- 16 Complimentary products have been identified as a potential six force. Explain how a business can use complimentary products to improve its performance. 17 Which barriers could make it difficult for potential new competitors to enter the market? Name and explain five. 18 What is the difference between a different brand and a substitute product? 19 Why is a supplier potentially a threat to the business success? 20 Why does the buyer / consumer have bargaining power? Explain three reasons. 21 List the different elements that are investigated when a PESTLE analysis is performed. 22 Take any five of the PESTLE elements and under each element list five issues that could impact on the business. For example: Economic could be interest rates, inflation rates... Give one word/phrase for the following: 23 A period of reduced economic activity where unemployment figures and poverty levels increase. 24 The process where waste is regained for human consumption. 25 Reducing the number of jobs in a business due to financial difficulties 26 Countries that are developing compared to countries where economies are well established and where the majority of people have a relative high standard of living. **Chapter 2: Corporate Social Responsibility (CSR)** 1 Give a definition for Corporate Social Responsibility. 2 How does CSR link to being a good Corporate Citizen? 3 List eight TYPES of issues that a business may include in it's CSR program. 4 There a many different people that have an interest in the performance of a business. We call these people stakeholders. Identify two primary stakeholders and three secondary stakeholders. 5 Draw a pyramid to illustrate a business' levels of responsibilities. Briefly explain each level of responsibility. 6 Discuss eight compelling reasons why a business should become involved in CSR programs in South Africa. 7 Some people are opposed to businesses spending funds on CSR. Explain five reasons that these people may give as reasons why a business should not becoe involved in CSR programs. 8 What does the term sustainability mean in the context of CSR? 9 Why is it important that businesses are aware of being environmentally sustainable? 10 What can a business do to be environmentally sustainable? 11 What will a business include in their CSR program if their focus is social sustainability? 12 What will be the focus of a business that puts pressure on suppliers (supply chain) to be responsible corporate citizens? 13 Write one sentence to explain why each of the following can be considered a stakeholder in the business: 13.1 Shareholders 13.2 Staff members 13.3 Trade unions 13.4 Customers 13.5 Suppliers 13.6 Community 13.7 Media 13.8 Industry regulators 13.9 Government 14 How will a business go about [designing] a CSR program? 15 Which seven principles should be kept in mind when [implementing] a CSR program? Briefly explain each. 16 Why is it important that a business tells stakeholders ([reporting]) about the CSR program? Give five reasons. **Chapter 3: Management and Entrepreneurship** 1 Give a definition of Management [in your own words]. 2 Explain the activities of managers on different management levels. 3 What id a business vision? 4 What is a business mission? 5 Why is a vision and mission important? 6 Name the four basic management tasks that have to be carried out to achieve the vision and mission. 7 Which questions does a manager ask when he/she starts to plan? 8 Why is planning an important management task? 9 Name four principles of successful planning and describe each in ONE sentence. 10 Describe five steps that can be followed during planning. 11 What is meant by organising as a management task? 12 Name and explain four steps that can be followed to ensure effective organisation takes place. 13 What are the factors of production that should be organised in a business? 14 Why is organising an important management task (i.e. importance of organising)? 15 Leading is also known as activating or guiding staff. Why is this considered to be an important management task? 16 Discuss five principles that have to be kept in mind when leading employees. 17 Give two instances where a manager and a leader are considered to differ from one another. 18 Describe six activities that will be carried out by a manager when he/she leads staff members to achieve goals. 19 Differentiate between an Autocratic, Democratic and Laissez-faire leader. 20 Why is control an important management task? 21 Discuss three steps that will form part of control. 22 Is budgeting a planning or control tool? Or maybe both? 23 Name and explain five elements of a good control system. 24 Discuss communication as a management task. 25 Why is coordination an important management task? 26 Which principles have to be considered when coordinating activities? 27 Few managers understand the importance of delegating. Explain why it is important that the manager has to be able to delegate. 28 What is the purpose of discipline in the workplace? 29 Give two principles to keep in mind when a worker is disciplined. 30 Name five types of decisions that the manager of your school will make on a daily basis. 31 How can staff members be motivated? Give ten practical suggestions. 32 Discuss Maslow's theory of motivation and explain if you agree that the higher levels of motivational factors will only be effective if the lower levels are satisfied. 33 Who formulated the Equity theory on Motivation? 34 Google to find five definitions / quotes on Entrepreneurship. You may NOT use the ones provided in your textbook. 35 Use these five definitions to identify five characteristics of an entrepreneur. 35 How does a manager and an entrepreneur differ from one another? 36 Which characteristics will a manager and entrepreneur share? Explain ten. 37 What is an Intrepreneur? 38 What is an Ultrapreneur? 39 The obligation a person has to perform a task to the best of his/her ability, is known as... A Authority B Delegation C Range of control 40 According to traditional management theory, the four basic management tasks are... A Planning, leading, coordination, organisation B Leading, communication, discipline, motivation C Organising, leading, control, planning D Decision making, organising, coordinating, control 41 The... will operate at middle management level. A Marketing manager B General manager C Supervisor D Director 42 At Top level management, these are the most common types of decisions: A Tactical B Strategic C Operational D Framework Provide of word/phrase for each of the following: 43 All workers are encouraged to work to the best of their abilities. 44 When a task is allocated to a subordinate. 45 When the manager combines all the activities of teams in his/her department. 46 The transfer of ideas and information between people in or outside the business. 47 To ensure tasks were performed according to instructions. 48 Employees are shown how individuals and the business will benefit if they work to the best of their abilities.