University of South Africa MNB1501 ASSIGNMENT 1 SEMESTER 1 POSSIBLE SOLUTIONS (2020)

Document Content and Description Below

Page 1 of 7 This assignment covers chapters 1 to 4 of the prescribed book. We recommend submitting your assignment online on myUnisa. You may also use a mark-reading sheet to answer and submit the ... assignment. This assignment consists of 20 multiple-choice questions. Note: You must submit this assignment in order to obtain entrance to the examination! STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT QUESTION 1 The fundamental economic problem society is confronted with involves _. 1. ensuring they get what they want 2. choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs 3. ensuring the lowest possible satisfaction of needs with these scarce resources (Refer to Section 1.3.3 in the textbook) 4. making as much profit as possible regardless of the needs of society QUESTION 2 After an alien invasion, Earth has to resort to the extreme protection of its resources in order to survive. A global government is elected with the mandate to control all the resources, which remain to humanity. The global government serves as a centrally directed economic system and has assumed complete responsibility for producing and distributing products and services. Which one of the following best describes the main economic system used in this new world order? 1. The market economy 2. The command economy 3. Free-market economy 4. Mixed economies (Refer to Section 1.4.5 in the textbook) Page 2 of 7 It is recommended that you read business case number 4: “Corporate social responsibility: South African Breweries” (in the recommended book “Business Cases”) before attempting to answer questions 3 and 4. It is not compulsory that you do so, as the answers to the assignment questions can be found in ITBM. QUESTION 3 By its nature, brewing beer is a water-intensive process. Making more beer, but using less water, is one of SABMiller’s three global focus areas. The transformation of water and other ingredients, by SAB, into beer and other alcoholic beverages is known as . 1. Consumerism 2. production (Refer to Section 1.2-1.3 in the textbook) 3. exchange 4. economic principle QUESTION 4 If SAB were to introduce a rewards programme whereby employees who performed very well every month are given recognition and financial incentives, the company would be satisfying the needs of their employees. 1. Esteem 2. physiological 3. self-actualisation (Refer to Section 12.7.2.2 in the textbook) 4. security QUESTION 5 When referring to the role of the state in an economic system, a conservative perspective argues that . 1. free markets are not subject to economic fluctuations, unemployment and inflation 2. the role of the state should be extremely limited (Refer to Section 1.4.6 in the textbook) 3. government can do a great deal to overcome limitations such as regulating private economic activity 4. government has the ability to solve social and economic problems Page 3 of 7 STUDY UNIT 2: ENTREPRENEURSHIP It is recommended that you read business case number 1: “Entrepreneurship: MXit” (in the recommended book “Business Cases”) before attempting to answer questions 6 to 8. It is not compulsory that you do so, as the answers to the assignment questions can be found in Introduction to Business Management (ITBM). QUESTION 6 In 1990, Heunis started his own information and communication technology consultancy. Which one of the following would he have used to take the final decision to go ahead with the venture? 1. Feasibility study (Refer to Section 2.7.4 in the textbook) 2. Business plan 3. Franchising plan 4. Corporate social responsibility plan QUESTION 7 One of the reasons why entrepreneurs, such as Herman Heunis, do what they do is that they have an internal locus of control. Which one of the following relates to the internal locus of control trait of the entrepreneur? 1. Entrepreneurs have a strong need to be personally responsible for solving problems. 2. There is a strong need to be in charge of his/her own destiny. (Refer to Section 2.6.1.2 in the textbook) 3. Entrepreneurs want to create new things. 4. Entrepreneurs often feel that it is necessary to take risks. QUESTION 8 If Herman Heunis could attract new investors in MXit, the investors would be classified as resources. 1. human 2. physical 3. financial (Refer to Section 2.7.2 in the textbook) 4. operating Page 4 of 7 QUESTION 9 Nadia has an online store that sells boutique-style children’s clothing. She needs to stay informed about new styles and designs that parents of her young customers might prefer. The ability to determine why customers find products attractive is a skill. 1. strategy 2. planning 3. marketing (Refer to Section 2.7.1 in the textbook) 4. financial QUESTION 10 Which one of the following is an advantage of buying an existing business? 1. Employees are inherited rather than chosen. 2. Sufficient funding is usually available for the establishment phase. 3. Planning can be based on historical data. (Refer to Section 2.7.3.2 – table 2.1 in the textbook) 4. It allows a corporation to diversify. STUDY UNIT 3: ESTABLISHING A BUSINESS It is recommended that you read business case number 1: “Entrepreneurship: MXit” (in the recommended book “Business Cases”) before attempting to answer questions 11 and 12. It is not compulsory that you do so, as the answers to the assignment questions can be found in ITBM. QUESTION 11 Heunis can be described as a serial entrepreneur who started several new ventures. A business plan would have been an important feature of Heunis’s new business. Which of the following aspects would have been of primary importance to Heunis when he wrote his business plan? a. Heunis’s vision for the new business b. The experience Heunis had accumulated over the years c. Heunis’s expertise and skills d. A clear understanding of the overall strategy 1. a b 2. b c 3. c d 4. a d (Refer to Section 3.3.3.1 in the textbook) Page 5 of 7 QUESTION 12 Both Heunis’s companies, Clockspeed Mobile (Pty) Ltd and MXit (Pty) Ltd, are private companies. Which one of the following statements is true about this statement? 1. Heunis can list both companies’ shares on the JSE Limited. 2. The public can subscribe to the shares of both Clockspeed Mobile and MXit. 3. The companies must have at least one director. (Refer to Section 3.2.6 in the textbook) 4. The company’s memorandum of incorporation must contain some restriction on the transferability of its shares. QUESTION 13 Which of the following types of businesses are juristic persons? 1. Companies and co-operative societies (Refer to Section 3.2.2 in the textbook) 2. Companies and sole proprietorships 3. Sole proprietorships and partnerships 4. Partnerships and co-operative societies QUESTION 14 Which one of the following sentences about the term “legal personality” is incorrect? 1. A legal personality exists independently of its members. 2. It is recognised as a legal subject alongside natural persons or individuals. 3. Its existence is affected by changes in its membership (Refer to Section 3.2 in the textbook) 4. It has its own rights, assets and obligations. QUESTION 15 The name of a personal liability company must be followed by . 1. Inc (Refer to Section 3.2.6 in the textbook) 2. (Pty) Ltd 3. Ltd 4. Pty Page 6 of 7 STUDY UNIT 4: THE BUSINESS ENVIRONMENT It is recommended that you read business case number 3: “The business environment: The airline industry” (in the recommended book “Business Cases”) before attempting to answer questions 16 and 17. It is not compulsory that you do so, as the answers to the assignment questions can be found in ITBM. QUESTION 16 1time Airlines was a low-cost carrier that operated in South Africa from 2004 to 2012, before the financial pressure characteristic of the South African airline sector proved too much and the company went into liquidation. One of the reasons for the start-up of 1time was the low aircraft acquisition cost in the aftermath of the 11 September 2001 disaster in the United States of America (USA). The 11 September 2001 event was a variable in the environment, which had a/an effect on the airline industry. 1. physical/direct 2. physical/indirect 3. international/direct (Refer to Section 4.3.1.3 in the textbook) 4. international/indirect QUESTION 17 A consumer’s purchasing power determines which of the airlines to use when travelling in South Africa. Purchasing power is represented specifically by a consumer’s . 1. personal disposable income (Refer to Section 4.5.1 in the textbook) 2. needs and wants 1. buying history 2. standard of living QUESTION 18 An analysis of the environment allows managers to determine the capabilities, strengths and weaknesses of the organisation. 1. Micro (Refer to Section 4.3.1.1 in the textbook) 2. market 3. macro 4. business Page 7 of 7 QUESTION 19 The most advanced form of environmental scanning is . 1. updating relevant secondary information 2. establishing a scanning unit 3. compiling continuous statistics 4. conducting a special investigation (Refer to Section 4.8 in the textbook) QUESTION 20 The national elections held in May 2019 forms part of the environment. 1. institutional-governmental ((Refer to Section 4.3.1.3 in the textbook) 2. physical 3. social 4. international [Show More]

Last updated: 1 year ago

Preview 1 out of 7 pages