Scribd Logo
Upload

Welcome to Scribd!

  • 4 views

    Business T3 Control Test Notes

    Uploaded by

    5mack1lelaka

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Business T3 Control Test Notes

    Uploaded by

    5mack1lelaka
    4 views8 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    4 views8 pages

    Business T3 Control Test Notes

    Uploaded by

    5mack1lelaka

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 8

    Business T3 Control Test Notes:

    1. Discuss TWO theories of conflict management


    - Traditional
    o Quick decisions need to be made, and workers do not have the necessary
    skills.
    o Dealing with serious issues, for example: Criminal activity.
    - Contemporary
    o Other people’s views can lead to a positive outcome.
    o Thinking takes place/exploring options together
    .
    2. Discuss five stages of team development
    - Forming
    o Team members get to know each other.
    o Team members are aware of themselves.
    - Storming
    o Characterized by conflict.
    o Team members actively engage in the tasks at hand.
    - Norming
    o Roles and responsibilities are clear and accepted.
    o Team members are motivated and take pride in their work.
    - Performing
    o Team members are aware of strategies and aims of the team.
    o They have direction without reference from the leader.
    - Adjourning
    o Focus is the completion of the task.
    o All tasks need to be completed before the team dissolves.

    3. Outline the importance of teamwork


    - Sense of unity that enables team members to share common interests and
    responsibilities.
    - Reduces stress and enables them to work together towards achieving a common
    goal.
    - Benefits of teamwork are increased productivity and job satisfaction.

    4. Causes of conflict in the business


    - Limited business resources.
    - Unfair workload among employees.
    - Ignoring rules and procedures.
    - Constant changes in the workplace.
    - Different goals, objectives for groups and individuals.
    - Misconduct and unacceptable behaviour.

    5. Explain the functions of workplace forums


    - Encourages workers participation in decision-making.
    - Promote the interests of all employees in the workplace.
    - Enhance efficiency in the workplace through co-operation.
    - Consulted by an employer and reach consensus about working conditions.

    6. Provide THREE advantages of presentations in written format


    - New information can easily be added to the presentation.
    - Written presentations make it easier for the presenter to interact with
    stakeholders.
    - Stakeholders can also interact with the business presentation after the
    presentation.

    7. Explain THREE factors to be considered when choosing funding for the


    business
    - Nature of finance
    o Shares and debentures aren’t available to certain forms of ownership.
    o Shares and debentures can only be issued to companies.
    - Amount of capital needed
    o Larger amount of capital needed, fewer options available.
    o Larger amounts must be obtained from banks, or the owner must use
    their own funds.
    - Cost of finance
    o Measured in interest that must be paid for the funding.
    o Businesses must weigh all the options before choosing the most
    affordable option of funding.

    8. List all the sources of funding


    - Bank Loans
    - Bank overdraft
    - Trade credit
    - Debt capital
    - Equity capital / owner capital
    - Grants
    - Lease and higher purchase
    - Venture Capital
    - Angel Funding

    9. Discuss any TWO sources of funding


    - Bank loans
    o Businesses apply to borrow money from the bank.
    o Bank will check credit worthiness before approving the loan.
    - Angel funding
    o A wealthy entrepreneur offers financial help in exchange for a share in the
    business.
    o This type of funding carries a high risk for the investor.

    10. Identify THREE reasons businesses need funding


    - Cover the start-up cost of buying premises/machinery/raw material etc.
    - Run the business and have enough money to pay employees/suppliers of raw
    material etc.
    - Pay for cost of input such as wages, telephone and other expenses.

    11. List all the aspects to consider when initiating a business venture
    SOPS
    - Strategy
    - Operation
    - Productivity
    - Size of the business

    12. Discuss the triple bottom line


    - PLANET
    - PEOPLE
    - PROFIT

    13. Discuss three steps in report writing


    - Conduct research
    o Most reports require a collection of data that directly related to the topic.
    - Write an outline
    o Construct your reports outline.
    - Recommend a course of action
    o Final section of the reports body is the recommendation.

    14. Elaborate on how to handle feedback in a professional manner


    - Listen to each question carefully and ensure that you interpret the question
    correctly.
    - Respond only to questions when you are certain about the question that was
    asked.
    - Restate the question for your understanding if you are unsure about the question
    that was asked.
    - Remain polite when responding to questions.

    15. List THREE tools to implement an action plan


    - Gantt charts
    - Work Breakdown structures (WBS)
    - Timelines

    16. Advice on the steps businesses need to follow to ensure a project is


    completed successfully
    - Identify project supporters.
    - Break the project down into activities.
    - Execute the project plan.
    - Monitor the progress.

    17. Discuss the importance of an action plan


    - Enables projects to be achieved within a specified time.
    - Businesses are able to prioritize activities by their importance.
    - Can help the person responsible be more organized.
    - Help employees focus on their activities.

    ESSAYS
    1:
    Introduction
    - A cause of conflict is different goals, objectives for a group and individuals.
    - A function of workplace forums is to prevent unilateral decisions made by
    employers on issues affecting the employees.
    The importance of teamwork
    - A sense of unity that enables team members to share common interests and
    responsibilities.
    - It reduces stress and enables them to work together towards achieving a
    common goal.
    - Some benefits of teamwork are increased productivity and job satisfaction.
    Causes of conflict
    - Limited business resources.
    - Unfair workload among employees.
    - Ignoring rules and procedures.
    - Constant changes in the workplace.
    Stages of team development
    - Forming
    o When team members get to know each other.
    o Team members are aware of themselves.
    - Storming
    o Characterized by conflict.
    o Team members actively engage in tasks at hand.
    - Norming
    o Roles and responsibilities are clear and accepted.
    o Team members are motivated and take pride in their work.
    - Performing
    o Team members are aware of strategies and aims of the team.
    o They have direction without interference from the leader.
    - Adjourning
    o Focus is on the completion of the task.
    o All tasks need to be completed before the team finally dissolves.
    Functions of workplace forums
    - Encourage workers’ participation in decision-making.
    - Promote the interest of all employees in the workplace.
    - Enhance efficiency in the workplace through co-operation.
    - Are consulted by an employer and reach consensus about working conditions.
    Difference between workplace forums and trade unions

    Workplace forums Trade unions


    Not a legal entity. Legal entity – juristic body.
    Cannot organize strikes. Can organize strikes of union member.
    Both union and non-union member can Only union member can belong to a
    form part of a workplace forum. union – they pay monthly fees.
    Joint decision-making: Examples Protecting the interest of employees.
    - Job grading
    - Disciplinary codes
    - Criteria for bonusses

    Conclusion
    - A cause of conflict is misconduct and unacceptable behaviour.
    2:
    Introduction
    - A step to follow when developing an action plan is to regularly check the
    progress.
    - An importance of Gantt Charts, WBS and timelines is that these tools help the
    project staff project dates and set up plans to achieve set goals in advance.
    Steps in developing an action plan
    - Step 2
    o Creating measurable goals.
    - Step 3
    o List the tasks to be performed.
    - Step 5
    o Decide on deadlines for every activity.
    - Step 6
    o Create a visual representation of the action plan.
    Importance of Gantt charts and other tools
    - They are vital to project managers as businesses try to meet and exceed client
    expectations.
    - Project managers use them as tools to get their job done, many of which are
    specific to a single company or product.
    - Timelines serve as a planning tool that helps to indicate the due date for each of
    the short-term objectives and tasks.
    - Timelines keep information in a sequential order and dates on which an activity
    must be done.
    Reasons why businesses need funding
    - Cover the start-up cost of buying premises/machinery/raw materials etc.
    - Run the business and have enough money to pay employees/suppliers of raw
    materials etc.
    - Pay for the cost of input such as wages, telephone and other expenses.
    - Expand the business as the sales increase and bigger premises need to be
    established.
    Factors influencing choice of funding
    - Nature of finance
    o Shares and debentures aren’t available to certain forms of ownership.
    o Shares and debentures can only be issued to companies.
    - Amount of capital needed
    o Larger amount of capital needed, fewer options available.
    o Larger amounts must be obtained from banks, or the owner must use
    their own funds.
    - Cost of finance
    o Measured in interest that must be paid for the funding.
    o Businesses must weigh all the options before choosing the most
    affordable option of funding.
    Conclusion
    - A step in developing an action plan is the strategic planning of the business.

    3:
    Introduction
    - The importance of presenting business information is that it provides
    management with the information regarding important markets.
    - A way on how to handle feedback in a non-aggressive and professional manner is
    to listen to each question carefully and ensure that you interpret the question
    correctly.
    Importance on presenting business information
    - Enables business to identify opportunities and threats in the market.
    - Allows management to develop new strategies in order to overcome competition
    in the market.
    - Attracts and retains investors and improves the business image.
    - Increases sales and profitability.
    Factors to consider when preparing a presentation
    - Be clear about the purpose of the presentation.
    - Ensure that the main aim of the presentation is captured in your opening
    statement.
    - Include simple language in your presentation.
    - Include visual aids that will enhance your presentation.
    Steps in report writing
    - 4: Write the first draft
    o One of the most important stages of constructing a successful business
    report.
    o Purpose is to get all the elements of the information onto a page.

    - 5: Analyze data and record findings


    o Focus of every report is the finding section/presentation of the
    interpretation of the data.
    o Always provide valuable information about the topic, even if the results
    are less ideal.

    - 6: Recommend a course of action


    o Final selection of the reports body are recommendations.
    o After examining the data and analyzing any outcomes, the report must
    present an idea as to what actions should be taken in response to the
    findings.

    - 7: Edit and distribute


    o Edit grammar mistakes, typing errors and typos.
    o Ask someone else to give you their opinion on the readability of the
    content.
    How to handle feedback in a non-aggressive and professional manner
    - Restate the question for your understanding if you are uncertain about the
    question.
    - Respond to the question when you are certain about the question that was
    asked.
    - Remain polite when responding to questions.
    - Refrain from becoming involved in debate with the person/s posing the question.
    Conclusion
    - A factor to consider when preparing a presentation is to write down an outline of
    the important information

    You might also like