This document contains all the answers of the fundamentals of business management module.This document is guaranteed to help you pass this module with flying colors.
Question 1
1.1 Both MTN and non-MTN clients can use the vast array of digital services offered
by the MTN Group globally. This permits MTN's expansion. Our nation has a high
unemployment rate, and MTN offers services that will support business growth.
Thus, MTN's ability to assist businesses in increasing production makes them
superior.
1.2.
1. A rise in individual adaptability: Diversity enriches an organization with a range of
backgrounds, cultures, and skill sets. It can, then, make use of these components to
come up with novel ideas and approach business in an inventive way.
2. A broader selection of services: Diversity adds linguistic diversity to the company.
For this reason, a corporation needs a wider range of languages and cultures to
support its international operations.1
.
3. Diverse perspectives: By utilizing the backgrounds, cultures, skills, and languages
of its varied workforce, an organization can create a strong business strategy.
4. Increased effectiveness in terms of execution: An organization that values and
encourages diversity helps its staff members carry out their jobs with greater skill
and efficiency.
1.3.1. Laissez-faire management style: The management takes a backseat, allowing
staff members to explore their own ideas and inventiveness within their areas of
expertise. Under this approach, managers offer mentorship when needed in addition
to restricted assistance. As a result, workers have the freedom to decide for
themselves and should only ask management for advice when needed. 2If the staff
members are extremely competent, skilled, and experienced and can work
autonomously with little direction—needing simply feedback as necessary—this
management style may be appropriate.
1
Fundamentals of Business Management (Unit 1 p22)
2
Fundamentals of Business Management (Unit 2 p47)
, 1.3.2. Democratic management style: Employee participation in decision-making is
encouraged in this model, which is similar to a political democracy in that decisions
are decided by majority vote. This method of communication involves both managers
and staff members. 3If you want your staff to support the decisions that are made,
you should apply a democratic management style. Employee happiness and morale
are raised by this management approach, and because the employees feel more
independent, they are more productive.
1.4. Planning: To create a competitive yet supportive atmosphere that will assist the
students flourish in their matric examinations, 4planning comprises defining goals
and objectives, developing strategies and policies, estimating the resources needed,
and carrying out the plans.
Organizing: The term "organizing" refers to the managerial function in which the
principal and educators methodically put together, arrange, coordinate, and
incorporate assignments to help students perform well on their matriculation tests. 5
Leading: The definition of leadership is persuading pupils to carry out the
responsibilities they have been given voluntarily and successfully. 6It is imperative
that the principal and educators oversee initiatives such as building cohesive student
teams, inspiring diligence in the classroom, and fostering strong relationships with
kids.
Controlling: The practice of making sure that pupils' actual performance does not
differ from their predicted performance is referred to as controlling. 7 Controlling
comprises establishing the performance expectations for pupils at the planning stage
and gauging their actual performance, contrasting the performance that was
achieved with the benchmark, examining how the real performance of the students
differs from the performance expectations, actual performance being corrected from
the established standard.
3
Fundamentals of Business Management (Unit 2 p49)
4
Fundamentals of Business Management (Unit 2 p60)
5
Fundamentals of Business Management (Unit 2 p67)
6
Fundamentals of Business Management (Unit 2 p81)
7
Fundamentals of Business Management (Unit 2 p86)
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