BSM1602 EXAM PACK

This document is a compilation of UNISA Questions and Answers for BSM1602 Answers are motivated by a combination of: Page references to the UNISA Study Guide and/or Prescribed Textbook: Short summaries and/or content from the Guide regarding the relevant topic(s) in question. (Incorrect options are also marked where applicable, in order to identify and disregard red‐herring alternatives) Assignments and Exams: All Assignments from 2017 and 2020 are covered: Exams covered are: • May June (2016) • May June (2017) • Oct Nov (2017) • May June (2018) • Oct Nov (2018) • May June (2019) • Oct Nov (2019) Please note: This document is an additional tool for exam preparation. The Stuvia‐user that compiled and uploaded this document takes no responsibility for incorrect answers. Students must ensure that they study the prescribed material and understand the content. BSM1602 EXAM PACK 2 BSM1602 Business Management 1B Table of Contents Assignment 01 – Semester 01 – 2017 ..................................................................................................... 3 Assignment 02 – Semester 01 – 2017 ................................................................................................... 10 Assignment 01 – Semester 02 – 2017 ................................................................................................... 26 Assignment 02 – Semester 02 – 2017 ................................................................................................... 33 Exam May‐June 2016 ............................................................................................................................ 57 Exam May‐June 2017 .......................................................................................................................... 125 Exam October‐November 2017 .......................................................................................................... 153 Exam May‐June 2018 .......................................................................................................................... 179 3 BSM1602 Business Management 1B Assignment 01 – Semester 01 – 2017 Chapter 1: Introduction to business management for the entrepreneur Question 1 Effective supervision and motivation of employees within an enterprise, refers to _______ as a fundamental management task. 1) planning 2) leading 3) organising 4) control Answer: The correct answer is 2 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 4 Reasoning: Effective supervision and motivation of employees within an enterprise, refers to leading as a fundamental management task. Question 2 Which one of the following statements is NOT correct? 1) Public enterprises are created to make a profit. 2) Public enterprises are funded by provincial administrations. 3) Public enterprises are responsible for providing the basic requirements for efficient functioning of the economy. 4) Public enterprises are funded by government and local authorities. Answer: The correct answer is 1 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 8 Reasoning: Public enterprises are funded and managed by government, provincial administrations or local authorities, and they are not created to make a profit. Public enterprises are responsible for providing the basic requirements for the efficient functioning of the economy and meeting the needs of the society. Option 1 is therefore incorrect as public enterprises are not created to make a profit. Chapter 2: The general management function Question 3 The process of transferring responsibilities for a specific business function from an employee group to a non‐employee group, is known as _______. 1) public relations 2) organising 3) outsourcing 4) globalization Answer: The correct answer is 3 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 20 4 BSM1602 Business Management 1B Reasoning: Outsourcing is the process of transferring responsibilities for a specific business function from an employee group to a non‐employee group. Question 4 Which one of the following problem‐solving techniques would be the best to use if individuals want to act independently, and the ideas of each individual are sought? 1) The Delphi technique 2) The nominal group technique 3) Brainstorming 4) Fishbone diagrams Answer: The correct answer is 2 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 41 Reasoning: When following the Nominal Group Technique to solve problems, the staff members involved are only a group in name. All the members of the group act independently, and the ideas of individuals are sought, not the ideas of the group as a whole. Chapter 3: The financial function Question 5 The ratio that will measure how efficiently profits are being generated from the assets employed in the enterprise, is known as the _______ ratio. 1) return on assets 2) net profit margin 3) gross profit margin 4) return on equity Answer: The correct answer is 1 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 61 Reasoning: The return on assets ratio is a measure of an enterprise’s success in earning a return for all providers of capital. This ratio also measures how efficiently profits are being generated from the assets employed in the enterprise, with its own previous performance or with enterprises in a similar industry. Question 6 During which step, of the development of effective long‐term plans, would you identify ways to improve the enterprises’ productivity and profitability? 1) Step 2 2) Step 3 3) Step 4 4) Step 5 Answer: The correct answer is 4 Refer: Tutorial letter 201/1/2017; Prescribed Textbook, pg. 71