BS revision marathon!!! (1 Viewer)

[waryap]

Hello all fellow BS'ers...
Let's get our heads thinking and constantly thinking about questions and answers for BS. the questions should only have short answers. No essay type questions.
Let me start off... a nice and easy one should do the trick!

Explain the difference between 'Span of Control' and 'Chain of Command'

 

[elliottjohnson]

The 'chain of command' is the different levels of management that there are.

The 'span of control' is how many workers the group above are in control of and how many managers etc are below a certain level.

• Describe three characteristics of the behavioural management theory?

 

[waryap]

'Three Characteristics' of behavioural management are

1. Leading
2. Motivating
3. communicating

am I right?

A manager steps up to be the spokesperson for a company after finding that a large amount of their manufactured goods were faulty. What kind of Managerial role has this person undertaken?

 

[elliottjohnson]

the answer could is broad so yes.

The position taken is that of an informational role, spokesperson for the business.


Name a political management 'form of power' and outline it.

 

[waryap]

referent - People respect you for your personality.

define an external influence and discuss the advantages of disadvantages of it.

 

[elliottjohnson]

Political influence - the new legislation could benefit the business or perhaps negatively affect the business.

Identify three stakeholders Woolworths Ltd. and outline whether they are internal or external stakeholders.

 

[waryap]

hmmm...

customers - external?
Government - external
owners/shareholders - internal

same question for you... name 3 stakeholders for woolworths ltd. (you can't use my answers)

 

[elliottjohnson]

ok
society-external
employees-internal
creditors-external
suppliers of stock-external

Describe tactical planning.

 

[waryap]

tactical planning is part of the managering qualities of POLCCM (planning-organising-leading-controlling-communicating-motivating)
Tactical planning is the type of planning between Strategical and Operational. The process is based on mid-term planning which can be based on a few months to several months.

Identify what Systems and Contingency are.

 

[kounato]

Systems: Theory that stresses the relationships in business, focuses on the each part of the 'system' in working together for end result

Contingency: Theory where a business 'fits' in with their operating environment and makes decisions accordingly to this changing environment


Describe two issues relating to change and social responsibility.

 

[waryap]

Change and social responsibility is related to how a business manages social, environmental and human consequences. Two issues related to this are ecological sustainability (making the business more efficient, therefore using less inputs to save the environment) and also Quality of working life which ensures workers with safe, agreeable and good working conditions.

What are the two change models and describe their main features.

 

[elliottjohnson]

force-field analysis - Driving forces and restraining forces.
driving - push towards change
restraining - resist change ....for business to change driving forces need to be stronger than restraining forces.

unfreeze/change/refreeze model
self explanatory - three steps


Distinguish between debtors and creditors

 

[waryap]

debtors - those who owe money
creditors - those who lent out money and require the payment from debtors after a designated period of time

What is the political theory and discuss the main factors of it.

 

[elliottjohnson]

Political theory
based on coalitions and how they change the businesses environment. includes the 5 forms of power.

• negotiating and bargaining are the main concerns that a manager needs to be aware of.
• stakeholders view on how the business operates.

What two items are needed from the revenue statement to go on the balance sheet?
have u done financial planning and management as topic 2?

 

[waryap]

nah, we just started that last week. We finished Marketing last year and business management only
But, hopefully someone can answer that and keep it going haha.

 

[elliottjohnson]

ok, well try this instead.

Outline a reason for resistance to change.

 

[Brontecat]

What two items are needed from the revenue statement to go on the balance sheet?

Is it the net profit and something else? I've got no idea lol

ok, well try this instead.

Outline a reason for resistance to change.

Managers and employees may have an inertia to change if they do not understand the change that is taking place; they may view the change as foreign or difficult. Resulting in feelings of anxiety, inadequacy and resentment amongst employees.


Explain one technique or method a business can employ to reconcile a conflict of interest.

 

[elliottjohnson]

hey fantastic another contributor.

Net profit and closing stock go over onto the balance sheet from the revenue S.


reconciling conflicts of interest.
A manager could give the employees a 10% savings card. This would decrease the conflict of employees.

What is meant by the term social responsibility?

 

[Brontecat]

This whole thing's a pretty good idea, just to revise whilst we're doing the stuff not just after the topic like i normally do

The responsibility a business has to society. Such as maintaining its ecological sustainability, managing cultural diversity and improving the quality of working life.

Outline Lewin's model of change.

 

[elliottjohnson]

Model of change...which one.

-force-field analyse - the driving forces must be stronger than the restraining forces for change to be available.

-unfreeze/change/freeze model is self explanatory.
However anyway.

1. The business must unfreeze the existing conditions of the business.
2. then it must implement these new changes. new procedures and rules.
3. refreezing takes place-manager needs to support and reinforce the new program.

Outline five major participants in financial markets.