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Assignment Answers & Memo 2022 MCQs Business Management MNB1501 Semester 1 and 2
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Assignment Answers & Memo 2022 MCQs Business Management MNB1501 Semester 1 and 2 ear 1 Financial Decision Making Global Business Environment Academic Development and Prof. Practice Introduction to Entrepreneurship & Enterprise Principles of Marketing Digital & Soc...

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  • June 9, 2022
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  • 2021/2022
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  • assignment answers amp memo 2022 mcqs business management mnb1501 semester 1 and 2
  • assignment answers amp memo 2022 mcqs business management mnb1501
  • mcqs business management mnb1501 semester 1 and

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Asignment Answers & Memo 2022 MCQs
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Business Management MNB1501
ASSIGNMENT 01 Semester 1 and 2
This assignment covers chapters 1 to 4 of the prescribed book. We recommend submitting your
assignment online on MYUnisa.


STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT

QUESTION 1

A businesses’ effort to provide the greatest possible need satisfaction with limited available resources is known as
.

1 need satisfaction
2 productivity
3 the rate of return on total capital
4 the economic principle

QUESTION 2

The Nelson Mandela Children’s Fund is a charitable organisation founded by Nelson Mandela that strives to change
the way society treats its children and youth. Its mission is to give voice and dignity to the African child by building a
rights-based movement. The Nelson Mandela Children’s Fund is an example of a
organisation.

1 private owned
2 non-profit seeking
3 partnership
4 state owned

QUESTION 3

Sipho is the owner of a small tuck shop in Diepsloot. He started the tuck shop as a way of earning money so that his
family can survive. His business is not registered and, therefore, Sipho does not pay rates or taxes. Sipho’s tuck
shop forms part of the sector.

1 informal
2 formal
3 non-profit
4 illegal


QUESTION 4

Which one of the following is a disadvantage of a command economy?

1 The environment is unstable.
2 There are high social costs.
3 Planning is difficult or impossible.
4 State organisations can be unproductive.




2

, lOMoARcPSD|7257373




QUESTION 5

South Africa’s unemployment rate is in the region of 27%. If South Africa moves towards a pure
economy, one of the advantages would be a strong possibility of full employment.

1 market
2 socialistic
3 command
4 communistic

STUDY UNIT 2: ENTREPRENEURSHIP

It is recommended that you read business case number 1: “Entrepreneurship: MXit” (in the recommended book
“BUSINESS CASES”) before attempting to answer questions 6 and 7. It is not compulsory that you do so, as the
answers to the assignment questions can be found in ITBM.

QUESTION 6

True entrepreneurs such as Herman Heunis differ dramatically from small-business owners in the following ways:

a They have no intention of growing or developing their business and are happy with some autonomy.
bThey need to be personally responsible for solving problems.
cThey have an internal locus of control.
dThey have an external locus of control.

1 ab
2 bc
3 ac
4 cd

QUESTION 7

Herman Heunis needs to have the ability to consider the business as a whole and to understand how it fits
within its marketplace. Which skill is referred to here?

1 Strategy skills
2Planning skills
3Marketing skills
4Project management skills

QUESTION 8

Which entrepreneurial trait is characterised by actions of intense, prolonged and repeated effort to accomplish
something that is difficult.

1 Achievement motivation
2 Innovation
3Risk taking
4An internal locus of control




3

, lOMoARcPSD|7257373




QUESTION 9

A major law firm has entered into a contract with Healthy Eats, an independent catering company, to provide daily
meals for the employees and visitors to the law firm. The law firm has its catering needs to Healthy Eats.


1 in-sourced
2 outsourced
3 privatised
4localised

QUESTION 10

Which one of the following is a disadvantage for buying an existing business?

1 There will be an established customer base.
2Financing may be available from the owner.
3Employees are inherited rather than chosen.
4Planning can be done based on known historical data.

STUDY UNIT 3: ESTABLISHING A BUSINESS

It is recommended that you read business case number 1: “Entrepreneurship: MXit” (in the recommended book
“BUSINESS CASES”) before attempting to answer questions 11 and 12. It is not compulsory that you do so,
as the answers to the assignment questions can be found in ITBM.

QUESTION 11

The name of Herman Heunis’s company ends with words “(Pty) Ltd”, which means that it can be classified as a
.

1 private company
2 partnership
3 sole proprietorship
4co-operative society

QUESTION 12

In the section of the business plan, Herman Heunis will identify the “key role players” (the active
investors, management team and directors) and he will cite the experience and competencies they possess.

1 general company description
2operating plan
3executive summary
4management plan

QUESTION 13

Red Square sells international and national branded cosmetics to middle and upper income men and women. It also
offers services such as skin analysis, a beauty hotline, facials, waxing, manicures, pedicures and body treatments. In
which one of the following components of the business plan will Red Square’s description of their target market
appear?

1 Financial plan
2 Management plan
3Operating plan
4Marketing plan




4

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