MNB1501 Oct/Nov 2015 exam paper — questions

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  1. Question 1 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Select the option that correctly completes the statement: the purpose of business management is to _______.Show the full question

  2. Question 2 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Sasol was founded in 1950 with the aim of producing oil from coal, an idea that was considered highly unconventional at the time and drew international interest. The underlying strategic motive was straightforward: to achieve national self-sufficiency in fuel for a country lacking its own oil reserves. Based on this, identify which statement about the role of business in society is correct.Show the full question

  3. Question 3 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Sasol's management team is able to concentrate on creativity, innovation and taking advantage of opportunities presented by challenges. This capability ensures that a particular category of employee needs is satisfied. Choose the correct category of needs referred to in the blank of the statement: this ensures that the _______ needs of the employees are satisfied.Show the full question

  4. Question 4 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Several different economic systems exist around the world. In the fictional country of Utopia, every member of the community is permitted and encouraged to own houses and to profit from them by renting them out to overseas tourists. Clothing and food in Utopia are distributed according to free-market demand, without any government control, and every resident is free to choose their own career. Determine which economic system is being used in Utopia.Show the full question

  5. Question 5 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Sipho owns a small tuck shop located in Diepsloot. He set up the shop purely as a means of generating income to support his family's survival, and the business is not registered, meaning Sipho does not pay any rates or taxes on it. Identify which sector Sipho's tuck shop belongs to, by completing the statement: Sipho's tuck shop forms part of the _______ sector.Show the full question

  6. Question 6 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. Identify which of the following options represents a disadvantage of a command economy.Show the full question

  7. Question 7 · The business world and business management · 1 marks

    This section, headed 'The Business World and Business Management', is a multiple-choice section in which each question counts one mark. Candidates must select the correct option from those provided. South Africa currently has an unemployment rate of approximately 25%. Complete the statement to identify which type of economy, if adopted in a pure form by South Africa, would offer a strong likelihood of achieving full employment as one of its advantages: if South Africa moves towards a pure _______ economy, one of the advantages would be a strong possibility of full employment.Show the full question

  8. Question 8 · Entrepreneurship · 1 marks

    Under the heading Entrepreneurship, question 8 asks which one of the following statements about the entrepreneurial trait of risk-taking is correct.Show the full question

  9. Question 9 · Entrepreneurship · 1 marks

    A case scenario explains that when IBM decided to enter the personal computer market, it plunged in a way later described as a historic blunder. At the time, IBM was the world leader in both microprocessor chips and software, yet when it launched the PC in 1981 it chose to buy the key components of the machine from outside companies: the chip from Intel and the operating system software from Microsoft. Based on this scenario, question 9 asks what tactic IBM used when it bought its components from Intel and Microsoft.Show the full question

  10. Question 10 · Entrepreneurship · 1 marks

    A case scenario introduces Herman Heunis as not your typical social-media start-up entrepreneur; he can be described as a serial entrepreneur, having started several new ventures. Question 10 notes that one reason entrepreneurs like Herman Heunis do what they do is that they are achievement motivated, and asks which one of the following options relates to Herman Heunis's achievement motivation trait.Show the full question

  11. Question 11 · Entrepreneurship · 1 marks

    Continuing with Herman Heunis, question 11 states that he started Clockspeed Mobile as a research and development division of Swist Group Technologies, and asks which one of the following would have been correct if Clockspeed Mobile had instead been defined as a 'small and medium-sized enterprise (SME)' within the South African business environment.Show the full question

  12. Question 12 · Entrepreneurship · 1 marks

    Question 12 requires filling in the blank: a ______ is the collection of data that helps forecast whether an idea, opportunity or venture will survive.Show the full question

  13. Question 13 · Entrepreneurship · 1 marks

    Question 13 describes Nicole wanting to buy 'Vets on Wheels', a veterinary practice, from Baselsana, and asks which one of the following is a disadvantage of buying an existing business such as this one.Show the full question

  14. Question 14 · Establishing a business · 1 marks

    Select the option that correctly identifies a reason for drawing up a business plan: (1) to avoid calculated risks; (2) to obtain bank financing; (3) to bypass strategic alliances with other companies; or (4) to avoid mergers and acquisitions.Show the full question

  15. Question 15 · Establishing a business · 1 marks

    Background: the MXit concept was an innovation developed by Swist's Research and Development department. Herman Heunis evaluated MXit as a viable business opportunity and financed its start-up with his own money, some of which came from the sale of earlier start-up businesses he had founded; Heunis is described as a serial entrepreneur who has started several new ventures. With reference to the New Companies Act, choose the change that Heunis should be aware of: (1) the powers and responsibilities of directors will be increased; (2) the power and responsibilities of directors will be decreased; (3) the rights of shareholders to hold directors accountable and to remove directors have been limited; or (4) the burden of the office of director will be decreased as the duties and liabilities of directors have been limited.Show the full question

  16. Question 16 · Establishing a business · 1 marks

    Continuing with Herman Heunis: his company's name ends with the words '(Pty) Ltd', which indicates it can be classified as which type of entity — (1) a private company; (2) a partnership; (3) a sole proprietorship; or (4) a co-operative society?Show the full question

  17. Question 17 · Establishing a business · 1 marks

    Still regarding Herman Heunis's business plan: in which section will he identify the 'key role players' — the active investors, management team and directors — and cite the experience and competencies they possess? Choose from: (1) general company description; (2) operating plan; (3) executive summary; or (4) management plan.Show the full question

  18. Question 18 · Establishing a business · 1 marks

    Red Square sells internationally and nationally branded cosmetics to middle- and upper-income men and women, and also offers services such as skin analysis, a beauty hotline, facials, waxing, manicures, pedicures and body treatments. In which component of the business plan would Red Square's description of its target market appear: (1) financial plan; (2) management plan; (3) operating plan; or (4) marketing plan?Show the full question

  19. Question 19 · Establishing a business · 1 marks

    Thandi and Thomas wish to form a partnership to run their domestic cleaning services. Which statement correctly describes a partnership: (1) it is a contractual agreement between partners; (2) partnerships cannot be extended to juristic persons; (3) a partnership is a juristic personality; or (4) the partnership, and not the individual partners, is liable for the debts of the partnership?Show the full question

  20. Question 20 · Establishing a business · 1 marks

    Which location factor would take priority for a newspaper publishing company: (1) proximity to the market; (2) proximity to suppliers; (3) proximity to raw materials; or (4) proximity to railroad facilities?Show the full question

  21. Question 21 · The business environment · 1 marks

    Christopher owns a large bicycle store and is planning his first business trip abroad, travelling to Italy to source new suppliers. Since it is his first trip overseas, he decides to use the travel agency that owns the space next to his store. This travel agency books his flight with Emirates airline and also arranges his hotel. Identify what the travel agency represents, and which part of Emirates' environment it forms part of, from the following combinations: (1) supplier, international; (2) intermediary, market; (3) retailer, market; (4) agent, market.Show the full question

  22. Question 22 · The business environment · 1 marks

    Kulula.com competes against several rivals, including Mango and FlySafair. In which environment would these competitors be found?Show the full question

  23. Question 23 · The business environment · 1 marks

    During difficult economic times, consumers are spending less money on holidays, while a trend towards spending more on affordable entertainment can be observed. Consumer lifestyles, habits and values form part of which environment?Show the full question

  24. Question 24 · The business environment · 1 marks

    Which concept is represented specifically by consumers' personal disposable income?Show the full question

  25. Question 25 · The business environment · 1 marks

    Consider the following case scenario: Johnson & Johnson (J&J) may be best known for its baby care products and the Band-Aid strip, but simplifying problems is the essence of its innovation and the secret behind it being one of the most admired international companies after 123 years of existence. Based on this, the J&J brand can be classified as which type of resource?Show the full question

  26. Question 26 · The business environment · 1 marks

    Referring to the same Johnson & Johnson (J&J) case scenario - where J&J is known for its baby care products and the Band-Aid strip, and has been one of the most admired international companies for 123 years - to produce the Band-Aid strip, J&J requires certain resources such as machinery, computers and warehouses. How would these resources be classified?Show the full question

  27. Question 27 · The business environment · 1 marks

    What does the most elementary form of environmental scanning involve?Show the full question

  28. Question 28 · Corporate social responsibility · 1 marks

    Fill in the blank: corporate ______ is also known as corporate philanthropy.Show the full question

  29. Question 29 · Corporate social responsibility · 1 marks

    Read the following case study: SAB's strict compliance process ensures that the company operates ethically, legitimately and transparently, and its Code of Competitive Practice and Code of Ethics form part of every employment contract. Based on this, the policy statement of SAB's corporate social responsibility (CSR) committee should cover the company's ______.Show the full question

  30. Question 30 · Corporate social responsibility · 1 marks

    Continuing with the SAB case study on its strict compliance process ensuring ethical, legitimate and transparent operations: if SAB co-develops the engagement plan, including the agenda and logistics, in order to meet the engagement objectives, which step in the stakeholder-engagement process are they involved in?Show the full question

  31. Question 31 · Corporate social responsibility · 1 marks

    Still referring to the SAB case study on ethical, legitimate and transparent operations governed by its Code of Competitive Practice and Code of Ethics: if SAB wants to address corporate social responsibility (CSR) in a proactive way, which system would it use?Show the full question

  32. Question 32 · Corporate social responsibility · 1 marks

    Based on the SAB case study describing its ethical, legitimate and transparent operations under its Code of Competitive Practice and Code of Ethics: SAB attends to the needs of both internal and external stakeholders. Which group makes up SAB's key internal stakeholders?Show the full question

  33. Question 33 · Corporate social responsibility · 1 marks

    Nestlé is seeking solutions for a more sustainable cocoa value chain as part of its efforts to improve stakeholder engagement. The company has reached a critical stage where the nature of its relationship with stakeholders can be summed up as 'We will do what we said we would do.' At which level of stakeholder engagement does Nestlé find itself?Show the full question

  34. Question 34 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). Which approach seeks to eliminate the shortcomings found in other management theories and tries to combine the ideas from the different schools of management thought?Show the full question

  35. Question 35 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). Herman Heunis is the CEO and founder of MXit. Considering his position within the organisation, which type of skills would be most important for him to possess?Show the full question

  36. Question 36 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). A manager such as Herman Heunis performs roles that can be grouped into three overlapping categories. Which of the following options is NOT one of these three groups?Show the full question

  37. Question 37 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). At Aurecon, Jonathan is part of the lower-level management team and is responsible for training and communicating with newly appointed employees regarding both structural foundations and earthwork designs. When Jonathan trains these new employees and motivates them to reach their goals, which management role is he fulfilling?Show the full question

  38. Question 38 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). At Aurecon, the management team makes an effort to treat every employee with the respect and consideration they deserve, believing that content employees tend to be more productive. Which school of management thought does this reflect at Aurecon?Show the full question

  39. Question 39 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). Which management function involves ensuring that the actions of subordinates are aligned with the organisation's predetermined goals and plans?Show the full question

  40. Question 40 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). The marketing manager of Company X occupies which level of management within the organisation?Show the full question

  41. Question 41 · Introduction to general management · 1 marks

    These questions fall under the topic 'Introduction to General Management' and are multiple-choice items, each testing a single management concept, drawn from various short scenarios (MXit's CEO Herman Heunis, Aurecon's management team, and general management theory). Which of the following is identified as the most dominant cause of business failure?Show the full question

  42. Question 42 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Given that Sergey Brin and Larry Page, as co-founders of Google and members of top management, need to plan effectively, they must make sure that the goals of every part of the organisation can be reconciled with each other and with the organisation's overall primary goals. Which specific benefit of planning does this situation illustrate: does planning promote coordination, ensure cohesion, facilitate control, or provide direction?Show the full question

  43. Question 43 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Sergey Brin holds the view that goals should not be set too conservatively, and that people should aim to achieve what most others would not attempt; however, he also insists that a goal must remain realistic even while being challenging. Which criterion for effective goals is being described here: must goals be specific, measurable, attainable, or relevant?Show the full question

  44. Question 44 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Sergey Brin and Larry Page need to make sure that the goals they set at departmental level are compatible with the goals of the subsections beneath those departments. What term describes this kind of compatibility: horizontal consistency, vertical consistency, cohesion, or coordination?Show the full question

  45. Question 45 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Suppose Sergey Brin and Larry Page decide to adopt a management-by-objectives (MBO) approach for setting goals at Google. Which of the following represents a disadvantage they should be aware of when implementing MBO: that individual goals are not aligned with organisational goals, that it is a bureaucratic approach, that operational goals may displace strategic goals, or that employees can become demotivated by the approach?Show the full question

  46. Question 46 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Hops are one of the main ingredients used by SABMiller in brewing its beer. If SABMiller decided to acquire its own hops suppliers in order to secure a more reliable, higher-quality supply, what name would be given to this long-term strategy: product development, innovation, vertical integration, or horizontal integration?Show the full question

  47. Question 47 · Planning · 1 marks

    Questions 42 to 45 are based on a case scenario about Google: the company's ongoing success depends on the daily, hands-on involvement of its co-founders, Sergey Brin and Larry Page. Innovation is described as the topic discussed most often at board meetings, since it is seen as the reason Google stays ahead of and out in front of its competitors. Following the 2008 recession, JB Hardware suffered a significant drop in profits and was compelled to cut costs and eliminate unprofitable products in order to survive as a business. Which specific corporate strategy did JB Hardware apply during this period: liquidation, a diversification strategy, a divestiture strategy, or a turnaround strategy?Show the full question

  48. Question 48 · Organising · 1 marks

    Consider this case scenario: In 1970 SAB opened South Africa's first carbonated soft drink canning plant and launched the Groovey range, which became a huge success. Three years later, SAB established breweries in Botswana and Angola and also took control of Alcol and Shoecorp. Given that SAB manufactures and sells its products in different geographical regions, which type of departmentalisation would be the logical structure for a business such as SAB?Show the full question

  49. Question 49 · Organising · 1 marks

    Continuing with the SAB case scenario (SAB opened South Africa's first carbonated soft drink canning plant in 1970, launched the successful Groovey range, and three years later established breweries in Botswana and Angola while taking control of Alcol and Shoecorp): if SAB wants a structure where specialist project managers can help manage complex projects while functional specialisation is still retained, which organisational structure should SAB use?Show the full question

  50. Question 50 · Organising · 1 marks

    When an employee's number of tasks is increased along with the amount of control that employee has over the job, this describes which type of job design change?Show the full question

  51. Question 51 · Organising · 1 marks

    Justin is a manager at Big Bang Technologies. He has four subordinates who report to him on a daily basis. Which management concept does this situation describe?Show the full question

  52. Question 52 · Organising · 1 marks

    Jenny is the managing director of an IT company and has the right to command or give orders down the line of command. What type of authority does Jenny therefore have?Show the full question

  53. Question 53 · Organising · 1 marks

    Which term can be defined as the duty to perform the task or activity as assigned?Show the full question

  54. Question 54 · Organising · 1 marks

    In a conversation, a consultant asks Jason, 'So he is not your immediate supervisor?' Jason replies, 'No, but for the amount of time I spend with my supervisor (the Senior Manager), Mr Ringane might as well be.' Jason's comment suggests that he may be uncertain about which of the two supervisors he must report to. This situation relates to an issue within which management concept?Show the full question

  55. Question 55 · Organising · 1 marks

    Which one of the following statements about specialisation is incorrect: that the main purpose of specialisation is to increase productivity; that excessive specialisation may have a negative effect on productivity; that workers who perform highly specialised jobs may become bored and demotivated; or that specialisation can only be applied at operational levels?Show the full question

  56. Question 56 · Leading · 1 marks

    Edcon maintains a clearly defined leadership structure that includes a 360-degree review process, and up to 15% of the performance goals set for its supervisors and managers are based on leadership performance. Edcon describes its five pillars of leadership as transformational, transactional, tactical, technical and operational. If Edcon rewards its supervisors through management action whenever they achieve their performance goals, which type of power is management using?Show the full question

  57. Question 57 · Leading · 1 marks

    Continuing with the Edcon case, where the company's five pillars of leadership are transformational, transactional, tactical, technical and operational, which statement correctly explains what transactional leadership means?Show the full question

  58. Question 58 · Leading · 1 marks

    A manager's reliability, predictability and good judgement when dealing with situations refers to which dimension of trust?Show the full question

  59. Question 59 · Leading · 1 marks

    The executive dean of the College of Economic and Management Sciences decides to appoint a committee made up of staff members from the ICT department as well as junior and senior academics from each department, in order to investigate the efficiency and usability of the myUnisa system as a viable ICT system. Once the project is complete, the group will disband. This is an example of a blank group, which is a type of blank group.Show the full question

  60. Question 60 · Leading · 1 marks

    Edcon's monthly Club magazine has a readership of 5.9 million. The Club magazine communicates with account holders and not only shares special offers but also conveys important account information. Within the communication model, the account holder represents the blank.Show the full question

  61. Question 61 · Leading · 1 marks

    Which one of the following statements is true regarding command groups?Show the full question

  62. Question 62 · Leading · 1 marks

    Jurgen Schreiber, a German national with 20 years of international experience in the retail industry, has recently been appointed as Edcon's CEO. Based solely on his position, which type of power does Jurgen Schreiber hold?Show the full question

  63. Question 63 · Leading · 1 marks

    Employee performance in organisations is determined mainly by three factors. Which of the following options correctly lists these three factors?Show the full question

  64. Question 64 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. Considering the German Beer Purity Law described in the scenario, during which step of the control process would this law typically be applied: (1) establishing standards, (2) measuring actual performance, (3) evaluating deviations, or (4) taking corrective action?Show the full question

  65. Question 65 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. A further note explains that beer quality depends on several variables, including the grains used, water quality, the roasting of malt, rice, spices, corn, hop varieties, yeast, milling, herbs, mashing and fermentation. Given that these raw materials are listed, how would you classify them in terms of asset type and resource category for beer breweries: are they (1) controlled assets forming part of physical resources, (2) intangible assets forming part of information resources, (3) tangible assets forming part of physical resources, or (4) integrated assets forming part of information resources?Show the full question

  66. Question 66 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. When an organisation controls performance appraisals and remuneration levels, which category of resource control does this relate to: (1) physical resources, (2) human resources, (3) information resources, or (4) financial resources?Show the full question

  67. Question 67 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. There is an unwritten principle of effective control stating that a control system should not be made so complex that implementing it costs more than the benefits it generates. Which characteristic of an effective control system does this principle describe: (1) accuracy, (2) timeliness, (3) integration, or (4) simplicity?Show the full question

  68. Question 68 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. Sam has collected all the necessary information and has already put together a report on his business's actual performance. According to the steps of the control process, what should Sam do next: (1) establish standards, (2) evaluate deviations, (3) rectify deviations, or (4) take corrective actions?Show the full question

  69. Question 69 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. Identify which of the following items is NOT considered a physical resource of a company: (1) buildings, (2) raw materials, (3) finished products, or (4) the company's trademarks.Show the full question

  70. Question 70 · Control · 1 marks

    This section covers the Control topic. Questions 64 and 65 refer to a shared case scenario: institutions such as the Oxford University Beer Appreciation Society, the US Institute of Brewing Studies and the Belgian Confederation of Brewers all share a common purpose - they support brewing science, innovation in beer, and the enjoyable mystery of beer as the most social of drinks. This mystique surrounding beer has given rise to regulations such as the German Beer Purity Law, a law designed to guarantee the quality of beer and to protect brewery empires. Sophie runs a manufacturing company and wants to minimise her inventory costs, but only as long as the method used does not create shortages or delay production. Which control system should Sophie adopt to manage her inventory: (1) non-financial budgets, (2) ratio analyses, (3) performance measurement, or (4) the just-in-time (JIT) system?Show the full question

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