BUSINESS S NOV-P1-QP and Memo_hlayiso.com_.pdf

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com QUESTION ONE 1.1. Ld, 4.1.2. 1d3. 1.1.4. 11.5. Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A-D) next to the question number. For example: 1.1.6. A This is a challenge of the Macro environment: A) Difficult employees B) Shortage of supplies C) Changes in consumer behaviour D) Political changes Interacting with others to exchange ideas and information and to develop professional contracts, is known as... A) Networking B) Lobbying C) Merging D) Takeovers This procedure matches the requirements of a post with strengths of a candidate: A) Remuneration B) Placement C) Recruitment D) Selection Transports and distributes products to customers: A) Secondary sector B) Tertiary sector C) Primary sector D) Formal sector The communication of a message about a product to increase sales, is known as: A) Advertising B) Storage C) Transportation D) Risk-taking (5x2=40) P.T.0/ QUESTION 1.2

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com SECTION B (ANSWER ANY TWO QUESTIONS FROM THIS SECTION) QUESTION TWO: BUSINESS ENVIRONMENTS 2.1. List the THREE business environments. (3) 2.2. Read the scenario below and answer the questions that follow: DERICKS FURNITURE MANUFACTURERS (DFM) DFM specialises in the manufacturing of office furniture. The management of DFM has developed unclear goals that confuse staff about the direction of the business. The management of DFM has decided to promote Sofia and Sam as managers even though they do not | have necessary skills to execute their tasks effectively. Some employees have decided to go strike after consulting with their unions as they felt that the | appointment process was not transparent and fair. DFM is not familiar with the functions of trade unions. 2.2.1. Identify the business sector in which DFM operates. Motivate your answer by quoting from the scenario. (3) 2.2.2. Identify TWO challenges of the micro environment from the scenario above. Motivate your answer by quoting from the scenario. Use the table below to present your answer: (6) CHALLENEGES OF THE MICRO ENVIRONMENT ~~ MOTIVATION | iJ — a | 2.3. Explain the relationship between the primary, secondary and tertiary sectors. (6) 2.4. Advise businesses on the benefits of adapting to the challenge of “INFORMATION MANAGEMENT.” !*) P.T.O/ QUESTION 2.5

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com QUESTION THREE: BUSINESS OPERATIONS 3.1. State SIX aspects that must be included in an employment contract. (6) 3.2. Explain the benefits of an induction programme. (6) 3.3. Read the scenario below and answer the questions that follow: EMERALD ARCHITECTS (ET) | Emerald Architects is a popular architect firm in the North west. Recently their business has become very | demanding and they feel a lot of pressure due to increasing orders and less skilled employees. ET has decided to advertise for skilled architects in the local newspaper. 3.3.1. Identify from the scenario, the type of recruitment that ET has used. Motivate your answer by quoting from the scenario. (3) 3.3.2. Discuss the role of the interviewee DURING the interview. (8) 3.3.3. Recommend the procedure that ET should follow to place the new employee. {~ 3.4. Read the scenario below and answer the questions that follow: | | EXCLUSIVE CLOTHING LTD (ECL) | | ECL specialises in a wide range of exclusive gowns. They want to increase their sales. They are j | considering a joint promotion with Elite Clothing, a local store also specialising in gowns. 3.4.1. Name the marketing mix element that ECL is considering. Motivate your answer by quoting from the scenario. (3) 3.4.2. Explain the benefits of foreign marketing for ECL as a way to increase their sales. (6) 3.5. Advise ECL on the advantages of electronic marketing. (4) (40 marks) 6 P.T.0/ QUESTION FOUR

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com 4.6. Read the scenario below and answer the questions that follow: | MEGA TRADERS 7 7 | Mega Traders is one of the most popular retail outlets in the Southern Africa. Their popularity stems from their hardworking and dedicated employees who work timeously to ensure the best interest of _ the firm. Mega traders offers their employees fringe benefits to keep them motivated to their jobs. 4.6.1. Discuss the advantages of fringe benefits on a business. (6) 4.7. Elaborate on the implication of the Skills Development Act on the Human Resource function. (4) (40 marks) P.T.O/ SECTION ©

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com SECTION B: SHORT QUESTIONS ANSWER ANY TWO QUESTIONS FROM THIS SECTION QUESTION TWO: BUSINESS ENVIRONMENTS 2d, Micro ~ Market (2) | Macro ; 2.2.1. Secondary sector. i , oe : : ne?) “DFM specialises in the manufacturing of office furniture.” 2.212. | CHALLENEGES OF THE MICRO ENVIRONMENT MOTIVATION LACK OF VISION AND MISSION A The management of DFM has developed unclear goals that confuse staff about the direction of the business. “a LACK OF ADEQUATE MANAGEMENT SKILLS DFM has decided to promote Sofia and Sam as managers even though they do not have necessary skills to execute their tasks effectively. —~ UNIONS, STIKES AND GO-SLOWS | Some employees have decided to go strike after consulting with their unions as they felt that the : | appointment process was not transparent and fair. ) 2.3. Relationship between the three business sectors e The primary sector is dependent on the secondary sector for equipment and on the tertiary sector for services. v e The secondary sector is dependent on the primary sector for raw materials and on the tertiary sector for services. . e The tertiary sector is dependent on the secondary sector for technologysuch as office equipment (O and vehicles and on the primary sector for transportation of raw materials: 2.4. Information management v e All challenges lead to new information that needs to be distributed to all the relevant people. e Information must be managed efficiently and a system implemented for easy access for relevant (4) staf

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com QUESTION THREE: BUSINESS OPERATIONS 3.1. Aspects to be included in an employment contract e “Details of the enidlisyet/clnalie of employee a Job title and job description a Working hours ff Remuneration package Leave A Termination of the contract” ) Benefits example car allowance; etc. (t 3.2. Benefits of an induction programme e New employees are introducedto the company’s policies and procedures” New employees learr’more about the business ~~ Increased productivity“and quality of service/ performance Minimises the need for on-going training“nd development New employees will knowWhere everything is and who the supervisors/low-level ffranagersate, New employees will have basic knowledge6t what is expected in the job~~ New employees may feel part of the team'fesulting in positive morale and motivatior’~ , Better/more focused training’may be provided based on the results obtained from the induction (Q process.” ~ 3.3.1. External recruitment. Ms “ET has decided to advertise for skilled architects in the local newspaper.” “ (3) 3.3.2. Role of the interviewee DURING the interview. Greet the interviewer“by name with a solid handshake and a friendly smile Listen‘Carefully to the questions before responding. Make eye contact’and have good posture/ body language: Show confidence“4nd have a positive attitude. Be jnguisitive nd show interest in the business. Ask clarity'eeking questions/be assertive. ee Show respect ‘4nd treat the interview with its due importance. Know your strengths and weaknesselandd be prepared to discuss it. 3.3.3. Placement procedure 3.4.1. Promotion The business/manager should outline specific responsibilities/ expectations of the chosen employee's new position. Determine the employees strengths/weaknesses/ skills/ interest by subjecting him to various psychometric tests. The business/manager should determine the relationship / similarities between the expectations of the position and the competencies of the chosen employee. ~~ “yf “They are considering a joint promotion with Elite Clothing, a local store also specialising on gowns...“ (3)

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com QUESTION FOUR: MISCELLANEOUS BUSINESS ENVIRONMENTS 4.1. Identify the type of ethical misconduct: 4.1.1. Sexual harassment ca 4.1.2. Corruption “a a (c) 4.2.1. Benefits of employee empowerment to a business 4.1.3. Mismanagement of funds e Structured empowerment processesan lead to greater efficiency, productivity and employee motivation. e BEE results in a more representative workforcefhat is more in tune with the range of customer's (4) needs and wants. ~~ 4.2.2. Ways a business can adapt to employment empowerment: e Skills development and training needs to be implemented“on an ongoing basis to ensure the empowerment of employees. e Processes need to be put in place to ensure that BEE is carried out when employing and promoting (4) people. 4 4.3.1. Benefits of lobbying to FBT e Businesses are able to influenceSupervisory regulators, shareholders and stakeholders. e Company representatives will influence’felevant agencies.~ e Bargaining sessions can be facilitatedbetween management and unions. a e Investors can be persuaded'ta commit funds. ~ e Businesses are able to form¥trategic alliances through contracts. “ (0 ° Team-building-€an be facilitated” BUSINESS OPERATIONS 4.4, Pricing techniques: a 4.4.1. Penetration pricing 4.4.2. Price-skimming a (6) 4.4.3. Bait pricing

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com SECTION C: ESSAY ANSWER ANY ONE QUESTION FROM THIS SECTION QUESTION FIVE: BUSINESS ENVIRONMENTS INTRODUCTION It is in the interest of every business to be aware of the challenges that each business environment has. Entrepreneurs need to devise strategies to overcome these challenges in order to remain profitable. “ (2) BODY 1. COMPONENTS OF THE MARKET ENVIRONMENT e customers e suppliers oO . a e competitors ~~ HY e unions ~~ “ Us) e ACCEPT ANY OTHER RELEVANT COMPONENTS 2. FOUR CHALLENGES OF THE MARKET ENVIRONMENT 2.1. Competition a Y e Acompetitor is another business that offers’similar or identical goods or services. e There is direct competition’ when goods and services are identical or similar. < e The porters five forces are: > Power of suppliers- ability of suppliers to influence potential buyers. “ > Power of buyers~ ability of buyers of products/services in an industry to influence suppliers. “ 4 > Threat of new entry- the extent to which a new competitor can enter the market. ~~ Threat of substitution — the extent to which alternative products/ services may diminish the need for existing products. > Competitive rivalry'< the competitive relationship between dominant companies in the industry.” Subinex Am 225 Shortages of supply a e Suppliers provide a business with goods and services and raw materials‘so that the business will a“ have the means to trade. v e The success of a business will depend on the delivery of these goods, services and raw materials and the right time, place, price and quantity. “ e {tis important that the entrepreneur must strive’ to build a meaningful relationship with the suppliers of goods and services. a Sctboracex of Pi Lo 2:3, Changes in consumer tastes and habits ~~ v e Occurs frequently as people’s needs, wants, values and tastes and attitude change due to the global influence caused by access to technology. - ww e This will have negative financial implications as they would now have obsolete products. e Changes in consumer tastes and habits could also have positive implication¢uch as the rise of new businesses, expansion of current businesses. -~ Sibnix 8

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com CONCLUSION The market environment, if well monitored and managed, has many advantages for a business. The Zz information above provides ways in which a business could overcome challenges in this environment. Q) MARK ALLOCATION INTRODUCTION 1. components of the market environment 2. FOUR challenges of the market environment 16 3. ways a business can form power relationships 16 4. ways in which a business can adapt: 6 4.1. Competition | 4.2. Shortage of supply | CONCLUSION 2 LAYOUT 2 ANALYSIS 2 _ 7 | SYTHESIS 2 ORINGINALITY 2 MAX TOTAL : 40 10

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com

Downloaded from hlayiso.com 4. IMPACT OF INTERNAL RECRUITMENT POSITIVES/ ADVANTAGES © The business recruits‘from existing employees through promotions/ transfer from inside the business. ~~ e Opportunities for promotion reward goud work and motivate current employees. e Staff morale‘and productivity increases if suitable staff members are promoted regularly. e Current employees ynderstanifhow the business operates. e The business knows the eandidsine his /ter personality, Strengths and weaknesses. e Reliable/key staff members are retained aR NEGATIVES/ DISADVANTAGES Current employees‘may not bring in new | ideas into the business. Promoting a current employee may cause | resentment amongst other employees. | The number of applicants is limited to | current staff only. Employees who do not really have the required skills for the new job may be promoted. | Current employees may need to be trained7developed before they can be promoted, which can be expensive ~~ Staff that is not promoted’ may feel de- wa they are promoted/transferred within the motivated which may hamper productivity. | business. (Max i2) CONCLUSION The information above provides guidelines on how a business could ensure a well-designed product. It the duty of the marketing manager to ensure that a product meets the demand of the customer. ~ (2 MARK ALLOCATION INTRODUCTION 2 1. Product design 12 2. Differentiate between convenience goods 8 and shopping goods | 3. Recruitment procedures 14 4. Impact of internal recruitment 12 | | CONCLUSION 2 LAYOUT 2 | ANALYSIS 2 SYNTHESIS 2 ORIGNIALITY 2 MAX TOTAL 40 _| 12