Flashcards on Business Strategies and Management Fundamentals
Business Strategies & Management Fundamentals Explained
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Business Management
75 cards
Card 1
Question: List three micro-environment business challenges from the scenario.
Answer: Difficult employees/high absenteeism; lack of vision and mission; lack of adequate management skills (also unions, strikes and go-slows).
Card 2
Question: What level of control does management have over micro-environment challenges?
Answer: Full control.
Card 3
Question: Give four examples of market-environment challenges listed.
Answer: Competition; shortages of supply; demographics and psychographics; socio-cultural factors.
Card 4
Question: What level of control do businesses have over market-environment challenges?
Answer: Partial / some / limited / less control.
Card 5
Question: Name five macro-environment challenges mentioned in the content.
Answer: Change in income levels; contemporary legislation; labour restrictions; political changes; interest rates (also socio-economic issues, HIV and AIDS, g
Card 6
Question: What extent of control do businesses have over macro-environment challenges?
Answer: No control.
Card 7
Question: According to the Readers Act (LAC) section shown, name two rights employees have.
Answer: Employees may join a trade union of their choice; they may embark on legal strikes as a remedy for grievances; they can refer unresolved workplace dis
Card 8
Question: According to the Readers Act (LAC) section shown, name one right of employers/employees organisations.
Answer: Form employer organisations (and form a bargaining council for collective bargaining purposes).
Card 9
Question: What does 'implication' mean in the context of the revised BBBEE pillars as used in the content?
Answer: What businesses should do to comply with the Act and what is preventing them from implementing it.
Card 10
Question: Under BBBEE pillar 'Management control', what must businesses do?
Answer: Appoint black people in senior executive positions and involve black people in decision-making; ensure black females are represented in management.