Business Environments and Operations Assignment

Assignment Task

SECTION B: Business environments

Question2

i. Three pillars of the Broad-Based Black Economic Empowerment

a. Ownership

b. social economic

c. skill development

ii. Skill Development Act

a Female employees are excluded from attending training

b) Only young employees are given opportunity to learn new kills

ii. a. Costly implementation: CSL projects can be expensive to implement, which can be a challenge for small to medium-sized enterprises

b) Detailed reporting: Companies need to draw up detailed report of their projects, which can be time-consuming

c) Difficulty in identifying community needs: It can be difficult to identify the exact needs of the of the community, and if the CSI project does not serve the community’s needs, it can end up being a waste of the company’s funds

d) Difficulty in measuring effectiveness: it can be hard to accurately measure the effectiveness of a CSI project, which can make it difficult for companies to tell if they have actually helped the communities

(e) Funding from profits: Social investment is funded from the business’s profits, which could have been used to grow the business or lower prices for customers

(f) Less money for shareholder: shareholder may receive less dividends when the business spends some of its profits on social investment.

• Is a strategic planning method used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a business venture.

QUESTION3

Four types of fringe benefits

• Health insurance
• Life insurance
• Retirement plans
• Paid time off

i. Is the process of the introducing new employees to their workplace. Fellow employee’s specific job and the corporate culture of the organisation

ii. Benefits of induction: also called orientation, the purpose of an induction programme is to make the new employees feel welcome and help him/her to learn more about the business during induction the new employees is given an overview of the business.

iii. Job description: refers to the content of the job itself and sets out the duties and responsibilities required of the person employed to the job and needs to outline:

1. The title of the job

2. The location of the job

3. The duties of the job

Job specification : indicates the specific qualifications, skills and experience required of the person who will fit the job. It will need to set out: a.Qualifications required

1. Personal qualities

2. Work experience required

iv. The wage board sets minimum rates and other conditions of employment for all trades. Different jobs are paid different amounts of money because some jobs, such as management positions, require a higher level of skill and responsibility, and also some jobs have a higher risk or require relocation

v. a. Related to financing

b. Related to production

The human resource function is responsible for managing the company’s workplace, and its success or failure can have a ripple effect on the entire organization

• 5.3 Setting up an effective organisational structure
• Organise training programmes and continuous skill development
• Promote employee motivation to ensure job satisfaction and improve performance levels
• Implement an employee and management performance management system(PMS

SECTION C (Question 6) Business operations

• Quality of management : Is a management system or approach that focuses on continuous quality improvement throughout the business. It includes the determination of a quality policy, creating and implementing quality planning and assurance, and quality control and quality
• Implication of the skills development Act on the human resource
• Contribute 1% of their salary bill to the skill development levy.
• Ensure training in the workplace
• Implement the requirements of the framework for the national skill development strategy
• Appoint a full time consultant as a skill develop
• meant facilitator
• Monitoring and evaluation of quality processes

Positives/Advantage: May be equipped to get things done right the first time.

• Improve performance and maintain high quality standards
•  Modify interventions that may improve the efficient use of resources

Negative/Disadvantage: It often takes longer to detect problems or respond to weaknesses  It is not visible to check quality of all the products

• Continuous improvement of processes and system

1. Have more resources to check on quality performance

2. Enough capital for new equipment needed for processes and system

3. Use quality circles to stayahead of competitors

Negatives: Large scale manufacturing can complicate quality control

Risk of changing part of the business that are working well

Ways in which the financial function :

• Is responsible for the effective planning, management and control of funds in the business. The finance team manages and monitors the flow of money across the business and produces financial and management accounts to assess the performance of the business. We differentiate between Financial Accounting.
• Marketing function: The four marketing policies are product, price, place, and promotion. The three additional policies are people, processes and the physical environment of the business. A business needs to coordinate and combine all seven marketing policies in order to maximise their impact and effectiveness.

SECTION E (QUESTION 9) Business roles

i. Two economic right of employees in the workplace .

(a) Right to safe working condition

(b)Right to fair remuneration

ii. Two causes of conflict in the workplace

• Personality difference between individuals.
• Limited business resources.

iii. Pricing of goods in rural areas.

Unauthorised use of business resources.

Unauthorised use of business resources.

iv. a. Two problem solving techniques

• Brainstorming, employees were requested to suggest new ideas in a large group without working individually.
• Force- field analysis, the management of FLD evaluated the disadvantages and advantages of each idea.

b. Advantages of force-field analysis

• Employee develop and grow with the business.
• It provides a visual summary of all the various factors supporting and opposing a particular idea.

v. Distinguish between decision- making and problem-solving

• DECISION-MAKING
• it is often done by one person senior management who make it authoritarian.it is a part of the problem solving cycle as decisions need to be taken in each step.

• PROBLEM-SOLVING
• problems can be solved by a group.
• process of analysing a situation to identify strategies to bring about change.

vi. Ways in which FLD can create an environment that promotes creative thinking

• Encourage staff members to come up with new solutions.
• Provide a working environment conducive to creativity, free from distraction.

vii. Negative impact of CSI on business

• Costly implementation : CSI projects can be expensive to implement, which be a challenge for small to medium-sized enterprises
• Detailed report : Companies need to draw up detailed reports of their projects, which can be time consuming
• Less money for shareholders : Shareholders may receive less dividends when the business spends some of its profits on social investment.
• Shareholder withdrawal : Some shareholders may withdraw from the company because they believe that social issues should be solved by the government, not the business.
• Publicity stunt: Some people might see the CSL project as a publicity stunt, used to create a good image for the business without providing a sustainable solution for the community.

QUESTION 10(Miscellaneous)

i. Four examples of non-verbal presentations

• tables
• diagrams
• flip charts
• slide show

ii. functions of the JSE

• encourage short term investment.
• act as a link between investors and public companies.
• regulates the market foe trading in shares.

iii. a. Preference shares

b. Founders shares

c. Bonus shares

iv. Recommendations for future improvement based on feedback from presentation

• presenter should stand throughout the feedback session.
• the presenter should first listen and respond.

v. STORMING, Shiraz always questioned the other member’s ideas and opinions as he wanted to be the team leader.

NORMING,- the team members eventually reached an agreement and consensus on the way forward.

FORMING - Teams are comfortable and polite with each other during this stage.

PERFORMING - Team members are aware of strategies and aims of the team.

10.6 ways in which business may deal with difficult people/personalities

• Interrupt the situation and move to the problem solving.
• Stay in control and emphasise the importance of making a decision.
• Allow them time to speak and blow off.
• be firm and do not let them make promises they cannot keep.

SECTION F

Question 11

• Leadership is setting a new direction or vision for a group that they follow: leader is the spearhead for that new direction.
• Management controls or directs people/resources in a group according to principles or values that have already been established.

LEADERSHIP: Is about inspiring, helping, listening developing and communicating

• influences human behaviour.
• focuses on what and why.
• focuses on the long term.

MANAGEMNT: Managing through planning, organising, commanding, controlling and disciplining

• guides human behaviour.
• focuses on how and when.
• focuses on the short term.

Description the situational and transformational theories of management and leadership theory

• different leadership characteristics are needed for different situations.
• effective application of this theory may enable leaders to accomplish their goals.
  • Transformational theory
• suitable for a dynamic environment, where change could be drastic.
• encourages followers to explore new opportunities.

Roles of personal attitude in success and leadership

• Positive attitude releases leadership potential.
• A leaders good attitudes influences the success of the business.
• Great leaders understand that positive attitude will set the right atmosphere.
• Leaders should model the behaviour that they want to see in the team members.

The aspects that she should consider when designing a multimedia presentation

• Start with the text which forms the basic of the presentation.
• Choose images that may help to communicate the massage.
• Use bright colours to increase visibility.
• Make sure there are no language and spelling errors.

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