MNB1501: Assessment Insights and Quiz Performance Overview

MNB1501-23-S2  Welcome Message  Assessment 6 Started on Thursday, 14 September 2023, 4:14 PM State Finished Completed on Thursday, 14 September 2023, 4:50 PM Time taken 35 mins 41 secs Marks 27.00/30.00 Grade 90.00 out of 100.00 Question 1 Correct Mark 1.00 out of 1.00 Question 2 Correct Mark 1.00 out of 1.00 QUIZ 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 _________________ . a. consumerism b. exchange c. production  d. economic principle Your answer is correct. The correct answer is: production The _____________________ function is responsible for acquiring all products and materials that are required by the business to function pro±tably. a. operations b. general management c. purchasing and supply  d. human resources Your answer is correct. The correct answer is: purchasing and supply

Question 3 Correct Mark 1.00 out of 1.00 Question 4 Correct Mark 1.00 out of 1.00 Question 5 Correct Mark 1.00 out of 1.00 The most important characteristic of the business world in countries that adopt a market economy is _____________________. a. that businesses produce predominantly tangible products such as bread, cars and houses b. that individuals themselves decide what to produce, how to produce it and at what price to sell the product  c. that the business involves human activities d. that the rationing of products occurs and prices of products are set by the state Your answer is correct. The correct answer is: that individuals themselves decide what to produce, how to produce it and at what price to sell the product A major law ±rm has entered into a contract with Healthy Eats, an independent catering company, to provide daily meals for the employees and visitors to the law ±rm. The law ±rm has __________________ its catering needs to Healthy Eats. Select one: a. in-sourced b. outsourced  c. privatised d. localised The correct answer is: outsourced Which entrepreneurial trait is characterised by actions of intense, prolonged and repeated effort to accomplish something that is di²cult. Select one: a. Risk taking b. Achievement motivation  c. Innovation d. An internal locus of control The correct answer is: Achievement motivation

Question 6 Correct Mark 1.00 out of 1.00 Question 7 Correct Mark 1.00 out of 1.00 Question 8 Correct Mark 1.00 out of 1.00 A team at Google identi±ed a new opportunity and developed a new corporate business within Google, and thus Gmail was born. Gmail was developed through internal processes and through the use of Google’s resources. The Gmail team is an example of ______________________________ within Google. Select one: a. corporate entrepreneurship  b. community engagement c. social intrapreneurship d. franchising The correct answer is: corporate entrepreneurship We treat the individual, our customers, employees, shareowners and the community with care and respect. The customers are an example of a/n __________ stakeholder, while the employees are an example of a/n __________ stakeholder. Select one: a. external; internal  b. investment; core c. core; investment d. internal; external The correct answer is: external; internal Which one of the following is an example of an internal stakeholder within a company such as Kiph? Select one: a. Customers b. Employees  c. Banks d. Investors The correct answer is: Employees

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Question 9 Correct Mark 1.00 out of 1.00 Question 10 Incorrect Mark 0.00 out of 1.00 Question 11 Correct Mark 1.00 out of 1.00 Sophie decides to register her business as a legal business entity. Her friend, Alice, is going to be her business partner and will contribute 50% of the capital that they will require to get the business started. However, neither Sophie nor Alice wants to take personal liability for the business, nor do they want to appoint a director. For which type of legal entity would you suggest she register? Select one: a. Company b. Sole proprietorship c. Business trust  d. Partnership The correct answer is: Business trust Kulula.com offers four types of services to its customers: ³ights between popular destinations in South Africa, hotel reservations, car rental, and holiday packages. It also has a Kulula credit card in conjunction with FirstRand Bank. The customers to whom kulula.com offers these services are part of the ________________ environment that has a/an _____________ in³uence on the business. Select one: a. micro/direct b. market/direct c. micro/indirect d. market/indirect  The correct answer is: market/direct The gross domestic product (GDP) and in³ation rate are factors in the ___________ environment which forms part of the _____________ environment of the organisation. domestic product? Select one: a. economic; macro-  b. economic; micro- c. legislative; macro- d. legislative; micro- The correct answer is: economic; macro-

Question 12 Correct Mark 1.00 out of 1.00 Question 13 Correct Mark 1.00 out of 1.00 Question 14 Incorrect Mark 0.00 out of 1.00 Consumers are spending less money on holidays in these di²cult times and the trend to spend more on affordable entertainment can be observed. Consumer lifestyles, habits and values are part of the __________ environment. Select one: a. institutional b. task c. social  d. market The correct answer is: social The ___________________ is the focal point of the corporate governance system. Select one: a. middle managers b. supervisors c. functional manager d. board of directors  The correct answer is: board of directors If a company such as SAB complies with the spirit of the law, then it means that ___________________. Select one: a. it is doing the bare minimum to avoid sanctions  b. the company is doing what can be reasonably expected to further the objectives of the legislation c. the company improves access to markets, for example, government procurement d. the company reduces cost by avoiding ±nes and legal costs The correct answer is: the company is doing what can be reasonably expected to further the objectives of the legislation

Question 15 Incorrect Mark 0.00 out of 1.00 Question 16 Correct Mark 1.00 out of 1.00 Question 17 Correct Mark 1.00 out of 1.00 Which one of the following statements regarding corporate governance is correct? Select one: a. A director stands in a ±duciary relationship to the company. b. Management is primarily responsible for the implementation of its own strategy. c. Top management is the focal point of good corporate governance.  d. The board’s collective accountability and responsibility can be transferred through delegation. The correct answer is: A director stands in a ±duciary relationship to the company. The CEO of your company has recently resigned and a new CEO needs to be appointed quickly. Which one of the following skills would be the most important for a CEO? Select one: a. Conceptual skills  b. Technical skills c. Interpersonal skills d. Design skills The correct answer is: Conceptual skills You are working for Cleveland Wholesalers as the spokesperson for the company and your main responsibility is to address the media during big corporate events. As a spokesperson, you play a/an ___________ role within the business. Select one: a. entrepreneurial b. information  c. decision-making d. interpersonal The correct answer is: information

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Question 18 Correct Mark 1.00 out of 1.00 Question 19 Correct Mark 1.00 out of 1.00 Question 20 Correct Mark 1.00 out of 1.00 CEOs are also expected to ful±l an interpersonal role in the organisation. This role involves which of the following activities? Select one: a. Monitor, leader and representative ±gure b. Representative ±gure, leader and maintaining good relations  c. Entrepreneur, leader and spokesman d. Entrepreneur, trouble-shooter and negotiator The correct answer is: Representative ±gure, leader and maintaining good relations Long-term strategic goals will be derived from the ______________ of an organisation. Select one: a. business plan b. values and culture c. mission statement  d. tactical goals The correct answer is: mission statement Swart Electrical is a Small, Medium and Micro Enterprise (SMME) specialising in electrical supplies in South Africa. The founder and CEO, Mr Swart prefers to solicit inputs from managers of different departments before formulating organisational goals. However, once planning has been concluded, he does not allow managers to deviate from the set goals. Which one of the following options is evident in the scenario regarding the costs of planning? Select one: a. Planning could cause delays in decision-making. b. Planning consumes management time. c. Planning demotes co-ordination. d. Planning may create rigidity.  The correct answer is: Planning may create rigidity.

Question 21 Correct Mark 1.00 out of 1.00 Question 22 Correct Mark 1.00 out of 1.00 Question 23 Correct Mark 1.00 out of 1.00 Part of Sophie Steins’ strategy to grow her property investment company was to start buying and renovating buildings in inner cities around the country. This has given her a competitive advantage in the new market. This is an example of ______________________________. Select one: a. integration b. innovation c. product development d. market development  The correct answer is: market development The marketing department at PVR Consultants includes sub-departments, such as sales and advertising, which all report to the marketing manager. John, the marketing manager, has authority over Nthabiseng, the sales manager, and Vutivi, the advertising manager. What kind of authority does John have? Select one: a. Staff authority b. Informal authority c. Line authority  d. Command authority The correct answer is: Line authority What is the major advantage of the matrix organisational structure? Select one: a. Specialised knowledge of employees is used to maximum effect. b. Specialist project managers can help manage complex projects.  c. Activities are grouped together under speci±c functions. d. Decisions can be made quickly. The correct answer is: Specialist project managers can help manage complex projects.

Question 24 Correct Mark 1.00 out of 1.00 Question 25 Correct Mark 1.00 out of 1.00 Question 26 Correct Mark 1.00 out of 1.00 Sibusiso is a manager at Studio 88 in North West Province. He has eight subordinates who report to him on a daily basis. This describes the ____________________. Select one: a. chain of command b. span of management  c. unity of command d. scalar principle The correct answer is: span of management Tonderai Moyo motivates his subordinates to achieve their targets by paying them above-market rates and promoting hard- working employees. Tonderai is an example of a _______________ leader. Select one: a. transactional  b. transformational c. charismatic d. visionary The correct answer is: transactional Steves Holdings’ new invention is the high-speed train service between Gauteng and KwaZulu-Natal. A group of experts was assembled to develop the high-speed train. The group was created to complete a speci±c project – the high-speed train – and on completion, they will disband. This group is known as a/an ______________ group. Select one: a. informal b. interest c. task  d. command The correct answer is: task

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Question 27 Correct Mark 1.00 out of 1.00 Question 28 Correct Mark 1.00 out of 1.00 Question 29 Correct Mark 1.00 out of 1.00 Jonas Smith is one of the tellers at Northern Cape Wholesalers. Since there are a number of tellers, Jonas is only responsible for the money market counter. When performance appraisals are done, Jonas will only be assessed on the work that he was responsible for. What type of group is Jonas part of? Select one: a. Command group b. Team group c. Task group d. Work group  The correct answer is: Work group In February 2020, Ford recalled over 240 000 SUVs and cars worldwide because of a suspension part that could fracture and increase the risk of a crash. The recall covered the Ford Flex, Taurus police car, Taurus SHO and Lincoln MKT from 2013 until 2018 models. Most of the recalled vehicles were in North America. Which one of the following steps in the control process can be associated with the recalling of vehicles at Ford? Select one: a. Evaluating deviations b. Rectifying deviations  c. Measuring actual performance d. Setting standards The correct answer is: Rectifying deviations Which one of the following inventory control systems would be the best to use if stock must be kept for inde±nite periods? Select one: a. Materials-requirements planning (MRP) system b. Economic-order quantity (EOQ) system  c. Just-in-time (JIT) system d. First-in-±rst-out (FIFO) system The correct answer is: Economic-order quantity (EOQ) system

Question 30 Correct Mark 1.00 out of 1.00 Which characteristic of an effective control system does the timeous adjustment of its ±nancial strategy represent? Select one: a. Flexibility  b. Accuracy c. Simplicity d. Integration The correct answer is: Flexibility

assignment 4 mnb1501

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