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Business Management essay type questions prep
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- Varsity College
This is a summary of some of the aspects in different chapters which they have indicated to us will be an essay question in the exam (2019).
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BMNG 1B Essay Type Questions – Exam prepQuestion 1:
Inventory should be managed and controlled so that optimal inventory levels can be
maintained.
Write an essay of not more than one page where you discuss the different inventory control
systems.
Question 2:
There are different phases in the product’s life cycle namely; introductory, growth, maturity
and decline phase.
Write an essay of not more than one page where you discuss the integrated marketing
strategy in the maturity phase.
Question 3:
Strategic management is not something that is only done once. An organisation should
implement a continuous process which is constantly evaluated, regardless of the type of
industry involved.
Write an essay of not more than one page where you discuss the strategic management
process.
Question 4:
There are many different strategic frameworks available for different types of organisations.
A popular framework is the ‘Generic Strategies’ proposed by Michael Porter in 1980.
Write an essay of not more than one page where you discuss Porter’s generic strategies.
Question 5:
The human resource function is a crucial element of organisational success.
Write an essay of not more than one page where you discuss the human resource function.
Note: your discussion should include the following:
o The role of human resource management in the organisation
o Human resource management attributes
, o Who performs the human resource function?
Question 1:
Inventory should be managed and controlled so that optimal inventory levels can be
maintained.
Write an essay of not more than one page where you discuss the different inventory control
systems.
LU5 Chapter 15 Page561 in t/b
Inventory-ctrl systems
Inv should be managed and controlled so that optimal inv levels can be maintained
Should be kept at a level that the best service can be rendered to the customer at
the lowest possible cost
The quantities ordered each time should keep inv at this optimal level
The syst of fixed-order quantities:
Each time new inv is required, a fixed quantity is ordered
New inv is ordered once inv reaches a certain level due to sales
Amnt of inv ordered is det so that inv does not deplete during delivery of new inv
Unsuitable for items with unreliable consumption or lead-times
The cyclical-ordering syst:
Each item in inv is checked at fixed intervals
is supplemented by an order to bring the inv level to its max level
ordering times are fixed but quantity varies
suitable for seasonal materials – irregular basis
used in grocery stores
The materials-requirements planning (MRP) syst:
computer-assisted syst
aim is to maintain min inv levels
computer calc total need for materials in a given period and gives consideration to
lead times
materials and components are received when the production process needs them
advantage = inv levels are kept low
syst only works if you have reliable suppliers though
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