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  3. University Of South Africa (Unisa)
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  5. MNE3701 - Entrepreneurship and Small Business Management (MNE3701)

Exam (elaborations)

MNE3701 - Exam paper June 16 - questions and answers

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Exam paper , questions and answers. I have included the questions as they were in the exam and written down all the answers for it. Hope it helps you.

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  • May 3, 2018
  • 7
  • 2017/2018
  • Exam (elaborations)
  • Unknown

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James should follow the 5 steps in evaluatnn prospects and selectnn employees which are:

Step 1 – usinn applicaton forms – This will help them collect enounh informaton to
determine the qualifcaton and basic informaton of prospectve employee.

Step 2 – Interview the applicant - James should also consider usinn behavioural interviews
which would assess the suitability of candidates on how they would respond to hypothetcal
situatons

Step 3 – Check references and other backnround informaton – before this is done, they
should ask the applicant to sinn a lenal consent form to do backnround checks

Step 4 – Test the applicant – The test they use must meet the criteria of validity and
reliability to assess and measure job performance ability

, Step 5 – Require physical examinatons – to evaluate the ability of applicants to meet the
physical demands of specifc jobs




Stane 1
One-person operaton – doinn all of the work – makinn contact with customers
Stane 2
Player – Coach – contnuinn to do some of the basic work, althounh learninn to hire and
supervise
Stane 3
Risinn above hands-on mananement and workinn throunh intermediate mananers
Stane 4
Formal ornanisaton – usinn plans and budnets, followinn policies and procedures




Stane 1. Idea Accumulaton
It involves increasinn the pool of ideas under consideraton. Sources include sales staf, -
novernment-owned patents, other small companies, brainstorminn, market research
Stane 2. Business Analysis
Every new product idea must be carefully studied in relaton to several fnancial
consideratons. 4 key factors need to be considered:
1. The products relatonship to existnn product lines
2. Cost of development and introducton
3. Available personnel and facilites
4. Competton and market acceptance
Stane 3.
Development of the physical product entails brand, packaninn, pricinn and promoton
Stane 4
Product testnn should determine whether the physical product is acceptable. Product
testnn must also include a limited test of market reacton.

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