MNG3701 Assignment 1.0 COMPLETE QUESTIONS
AND ANSWERS.
1) Purpose of Business Organisation - Correct Answer -* To the Entrepreneur it is the profit he makes
from his business
To the consumer it is the value of the service or product
To employees it is their salary/wage earned
To an organization it can be selling shares to shareholders
2) Stakeholders - Correct Answer -Any person or group of people that have (or claim to have) an
interest in an organization and its activities.
3) Stakeholder Expectations - Correct Answer -* Customers - quality products and good service
Suppliers - payment on time
Community - contribution in form of sponsorships or community projects
Organized labor - treat employees with fairness, dignity and respect
4) Internal Stakeholders - Correct Answer -Work directly within the organisation - business owners,
shareholders, investors, employees and management
5) External Stakeholders - Correct Answer -Not directly associated with the organization -
community, government, organized labor (trade unions), customers, suppliers.
6) Triple Bottom Line (Expected from Organizations) - Correct Answer -* Be profitable
Take responsibility for the physical environment
Meet is social responsibilities towards the community in which it operates
7) Manager - Correct Answer -The person responsible for running a part of or an entire organization
8) Management - Correct Answer -The interlocking functions that managers perform.
9) Management Process - Correct Answer -"The process of working with and through others to
achieve organizational objectives in a changing environment."
10) Management Process Characteristics - Correct Answer -* Management is a process
Management entails working with and through others
Management aims to contribute to the realization of organizational goals and objectives
Management needs to cope with a changing environment
AND ANSWERS.
1) Purpose of Business Organisation - Correct Answer -* To the Entrepreneur it is the profit he makes
from his business
To the consumer it is the value of the service or product
To employees it is their salary/wage earned
To an organization it can be selling shares to shareholders
2) Stakeholders - Correct Answer -Any person or group of people that have (or claim to have) an
interest in an organization and its activities.
3) Stakeholder Expectations - Correct Answer -* Customers - quality products and good service
Suppliers - payment on time
Community - contribution in form of sponsorships or community projects
Organized labor - treat employees with fairness, dignity and respect
4) Internal Stakeholders - Correct Answer -Work directly within the organisation - business owners,
shareholders, investors, employees and management
5) External Stakeholders - Correct Answer -Not directly associated with the organization -
community, government, organized labor (trade unions), customers, suppliers.
6) Triple Bottom Line (Expected from Organizations) - Correct Answer -* Be profitable
Take responsibility for the physical environment
Meet is social responsibilities towards the community in which it operates
7) Manager - Correct Answer -The person responsible for running a part of or an entire organization
8) Management - Correct Answer -The interlocking functions that managers perform.
9) Management Process - Correct Answer -"The process of working with and through others to
achieve organizational objectives in a changing environment."
10) Management Process Characteristics - Correct Answer -* Management is a process
Management entails working with and through others
Management aims to contribute to the realization of organizational goals and objectives
Management needs to cope with a changing environment
