Weeks 7-17

Question 1

Describe the public sector.

Answer 1

Is run by the government.
Uses tax to fund services.
Does not compete for our business.

Question 2

Describe private sector.

Answer 2

Privately owned businesses.
Offer products and services people want and need.
Driven by profit.

Question 3

Describe the secondary sector.

Answer 3

Raw materials are made into products.

Question 4

Types of tertiary sector activities.

Answer 4

distribution, commercial networks, service and communication.

Question 5

What is consumerism?

Answer 5

The ability of consumers to pressure businesses to stay doing what is considered ethical.

Question 6

What does a business’s social responsibility entail?

Answer 6

maintaining a high standard of living.
working as part of the community.
taking part in fair trade.

Question 7

What is CSR?

Answer 7

A business’s self regulation to social goals in a charitable nature.

Question 8

Three p’s of CSR?

Answer 8

profit, people,planet.

Question 9

Primary responsibility in business?

Answer 9

employees, shareholders, customers and competitors.

Question 10

How can CSR projects become sustainable?

Answer 10

By helping the community become self-sufficient.

Question 11

What is an example of a watchdog?

Answer 11

PETA

Question 12

Name a characteristic that might help a team succeed.

Answer 12

Willingness to compromise.
learning to work together.

Question 13

Type of teams? And describe.

Answer 13

Informal: already get along and share a common goal; are friends.
Formal: are formed by the organization with the business’ goal in mind.

Question 14

Things to consider when roles are allocated.

Answer 14

the team’s aim, size and strengths and weaknesses of each member.

Question 15

Team processes.

Answer 15

Forming, storming, norming, performing and adjourning.

Question 16

Top managers make ________________ decisions.

Answer 16

Strategic.

Question 17

The process of comparing predetermined results with planned results are
called ________________.

Answer 17

Control

Question 18

The leadership style used to encourage more creativity for ideas to flow are
known as ________________.

Answer 18

Laissez-faire

Question 19

why do you think motivated employees are good for a
business?

Answer 19

Motivated staff are more productive, delivering high-quality products and services, increasing customer satisfaction, boosting PR, and ultimately increasing profits.

Question 20

What do you think will the positive impact be of effectively implementing
planning, leading and controlling in [insert business], to reduce customer
dissatisfaction?

Answer 20

Planning, leading, and controlling are crucial for handling consumer dissatisfaction with faulty or damaged goods, ensuring staff follow planned processes, and maintaining quality control through regular check-ups.

Question 21

Traits of an entrepreneur.

Answer 21

Risk taking.
Information seeking.
self-confidence.

Question 22

Types of entrepreneurs.

Answer 22

Tender
Eco-friendly
Intrapreneur- works within a company and has influence within it.
Ultrapreneur

Question 23

Describe the management task of communication.{ why it’s helpful}

Answer 23

Reduces confusion and stress.

Question 24

Credibility {is what kind of trait}

Answer 24

is an entrepreneurial trait.

Question 25

Self-actualization.{Level of needs}

Answer 25

Level of need referring to your full potential which needs to be met.

Question 26

what do you think “business communication” entails?

Answer 26

Business communication can be defined as the distribution of information and data
between individuals within an organisation. It is mostly conducted for the commercial
benefit of the business; it is also directly linked to the information and data used to
promote and distribute an organisation’s products / services.

Question 27

Do you agree that noise in the workplace can lead to miscommunications and
conflict? Motivate your answer.

Answer 27

Loud background music in offices can hinder communication among staff and customers, potentially leading to incorrect interpretations of orders and complaints, resulting in decreased customer loyalty.

Question 28

Which form of verbal communication will you suggest to a business who
needs to solve a customer complaint? Substantiate your answer.

Answer 28

A telephone conversation because it is the most personal form of communication. It
will cancel out the confusion and problem quicker and easier.

Question 29

What will an employee’s body language imply to a customer if he/she stands
with his/her arms crossed? Substantiate your answer.

Answer 29

The employee will come across as defensive and closed off – not wanting to help
the customer. The customer will feel unwelcome in the store and imply that bad
customer service was delivered.

Question 30

An __________________________ is a brief summary of what the business
plan and the business is about.

Answer 30

executive summary

Question 31

____________________________ include any other relevant information
and documentation to enhance the business plan.

Answer 31

Appendixes

Question 32

A _____________________________ is a tool used to determine what,
when, who and with which resources a project plan will be carried out.

Answer 32

Work Break-down Structure (WBS)

Question 33

Explain what you understand under the concept “independent directors”.
Why are they essential to appoint on the board of directors of companies?

Answer 33

INDEPENDENT directors MUST be appointed in companies by its
shareholders. This ensures the Company complies with the Company’s Act
and Corporate Governance principles. Less fraud or illegal acts can occur if
people, not dependent on the company, can provide input in business
decisions and management of the company.

Question 34

Briefly describe how companies are taxed in South Africa.

Answer 34

The company as an entity is taxed on the
profits the company produces. Entails a
fixed rate of 28% tax on the profits and 20% on dividends issued to
shareholders.

Question 35

Individuals wanting to buy shares in a public company sometimes have the
option of buying preference shares. These shares have special rights. What
are the benefits around this for the shareholders owning these types of
shares?

Answer 35

Shareholders owning preference shares have preferential treatment when
dividends are paid out – they receive dividends before ordinary shareholders.
Dividends
are paid out regardless of company’s profit increasing or decreasing. These
shares have lower risk than ordinary shares because they are paid out
before ordinary shares if a company goes bankrupt.

Question 36

drawing up a MOI for a company? Do you think it’s
really necessary?

Answer 36

It is needed, because it’s seen as the “constitution” of a company.
It states how stakeholders such as your shareholders will be protected and
how the company will be managed. It also states the company’s rules and
regulations.

Question 37

What role do you think ethics play in Public Relations?

Answer 37

Ethics help the business and the PR function to uphold ethical standards.

Question 38

How can a manager use Public Relations to motivate his business’ workforce?

Answer 38

If PR ensures that internal stakeholders (employees), REALLY understand what the business
stands for or plans to achieve with a certain project new product or service then they are
willing to work harder because they understand the business product or service mission
better.

Question 39

Why does transparency play a huge role when it comes to the PR function?

Answer 39

The public is more likely to
continue supporting a business that’s transparent and show integrity.

Question 40

Do you think it’s important that the PR function’s messages to the public are purposeful?

Answer 40

Yes, because no communication / public relations message is ever by accident. There should
always a reason behind the specific method / message.