Subject: BUSINESS MANAGEMENT & INFORMATION SYSTEMS

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BMIS-Nov-2024-L1-Q5c-Benefits of Internet and E-commerce for Suppliers and Customers

Explains the benefits of internet and e-commerce for suppliers and customers.

Question

The internet and e-commerce have become important channels for marketing and selling products, and the internet can also be a distribution channel for products.
Required:
State FOUR potential benefits of the internet and e-commerce for each of the following:
i) Suppliers
ii) Customers

Answer

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Tags: Customers, Distribution, E-commerce, Internet, Marketing, Suppliers
Level: Level 1

Topic: Internet and E-commerce
Series: Nov 2024

BMIS-Nov-2024-L1-Q5b- Example of a Non-Traditional Product Life Cycle

Identifies and explains a product or service whose life cycle doesn't follow the traditional stages.

Question

Identify and explain an example of a product or service whose life cycle has not conformed to the traditional pattern of introduction, growth, maturity, and decline.

Answer

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Tags: Business Strategy, Market Phases, Product Development, Product Life Cycle
Level: Level 1

Topic: Business Strategy, Product Life Cycle
Series: Nov 2024

BMIS-Nov-2024-L1-Q5a- Product Life Cycle Stages

Match products to their corresponding stages in the product life cycle: introduction, growth, maturity, and decline.

Question

A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.

Online music downloads
SMS messaging
(Hand-written) postcards
Personal identity cards using ‘iris-based’ technology
Folding screen mobile phones
Credit cards
Personal computers
Fifth generation (5G) mobile telephones
Cheque books
Typewriters
Smart cards (in banking)
E-conferencing

Answer

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Tags: Decline, Growth, Market Phases, Maturity, Product Life Cycle
Level: Level 1

Topic: Product Life Cycle
Series: Nov 2024

BMIS-Nov-2024-L1-Q4b-Performance Appraisal and Employee Competence

Describes the components of performance appraisal and suggests ways to assess employee competence.

Question

A performance appraisal is a periodic and systematic process whereby the job performance of an employee is documented and evaluated. The performance appraisal process allows employees to understand specific competencies they excel at and where they might need improvement.
Required:
i) Describe THREE components of performance appraisal.
ii) Suggest how the competence of an employee might be assessed

Answer

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Tags: Competence Assessment, Employee Evaluation, HR Functions, Performance Appraisal
Level: Level 1

Series: Nov 2024

BMIS-Nov-2024-L1-Q4a-Advantages of Appointing a Single Distributor in Ghana

Discusses the advantages of appointing a single distributor for business operations in Ghana.

Question

Beta Equipment is a Taiwanese manufacturer of various types of printers and has recently decided to export its products to Ghana. Beta Equipment is considering appointing a single distributor in Ghana who would represent the exporter and would be responsible for the entire marketing operations in this country.
Required:
Explain FIVE advantages that Beta Equipment would achieve through the appointment of a single distributor for import and distribution of its products in Ghana.

Answer

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Tags: Business Strategy, Distribution, International Expansion, Logistics, Marketing
Level: Level 1

Topic: Operations strategy
Series: Nov 2024

BMIS-Nov-2024-L1-Q3c-Explanation of a “51% Attack” in Blockchain

Defines a "51% attack" in blockchain and explains its implications.

Question

Blockchain consists of multiple ‘blocks’ of digital information which are held in a public database known as a ‘chain’. Blockchain technology offers a number of advantages. However, it is susceptible to a form of cyber-attack known as 51% attack.
Required:
Explain what is meant by “51% attack”.

Answer

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Tags: 51% Attack, Blockchain, Cyber Attack, Security, Technology
Level: Level 1

Topic: Cybersecurity
Series: Nov 2024

BMIS-Nov-2024-L1-Q3b-Hofstede’s Dimensions of Organisational Culture

Explains Hofstede's cultural dimensions and what a 51% blockchain attack entails.

Question

Culture is a set of dominant beliefs, attitudes, values, and norms that is shared by a number of people. It is the collective programming of the mind that distinguishes the members of one group from members of another group. Likewise, the culture of a business organisation in one country will differ from the culture of organisations in a different country. Multinational companies face the challenge of trying to create a common original culture for an organisation that operates across national boundaries.
Hofstede developed a cultural dimension theory used to understand differences in culture across countries and the ways that business is done across different cultures.
Required:
According to Hofstede, explain FOUR dimensions to differences in organisational culture arising from differences in national culture.

Answer

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Tags: 51% Attack, Blockchain, Cybersecurity, Hofstede's Dimensions, Organisational Culture
Level: Level 1

Topic: Culture in business
Series: Nov 2024

BMIS-Nov-2024-L1-Q3a- Arguments Against Maximizing Shareholder Wealth Through Rational Strategic Planning

This question discusses arguments against the notion that a company should focus solely on maximizing shareholder wealth through rational strategic planning.

Question

A company should make rational strategic plans with the aim of maximising the wealth of its equity shareholders.”

Explain the arguments against the above statement.

Answer

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Tags: Business Strategy, Rational Planning, Shareholder Wealth, Short-term, Strategic Planning
Level: Level 1

Topic: Employment law
Series: Nov 2024

BMIS-Nov-2024-L1-Q2b- Economic Factors Influencing Business Opportunities and Threats

Economic factors that shape business opportunities or threats based on the PEST model.

Question

Explain THREE economic factors which determine the nature of opportunities or threats that organisations may face.

Answer

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Tags: Business Strategies, Economic Factors, Macro-Environment, Opportunities, PEST, Threats
Level: Level 1

Topic: Agency Law
Series: Nov 2024

BMIS-NOV2024-LV1-Q2a-Monopoly Control and Government Action

disadvantages of monopolies and government actions against them.

Question

a) A monopoly is a market structure in which a single seller or producer assumes a dominant position in an industry or a sector. In most jurisdictions, legislations are in place to restrict monopolies and ensure that one business cannot control the market.

Required:
i) Explain THREE reasons monopoly control over a market might be undesirable.
ii) Suggest THREE ways in which the government might act against monopolies.

Answer

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Tags: Government intervention, Monopoly, PEST Analysis
Level: Level 1

Topic: Monopoly Control and Government Action
Series: Nov 2024

BMIS – Nov 2017 – L1 – Q4c – HR – Other human resources functions

Identify benefits to Adjala Ltd from having a robust health and safety policy.

Question

c) It is Adjala Ltd’s corporate responsibility to have a robust health and safety policy in place, to identify reasonably foreseeable risks and to reduce those risks as far as is reasonably practicable. For the organization, this means having a thorough policy statement, good organizational responsibilities, and tight procedures in place so that it can manage risk and comply with legislation.

Required:
Identify TWO benefits to Adjala Ltd from having a robust health and safety policy.
(4 marks)

Answer

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Tags: Corporate Responsibility, Health and Safety Policy, Legal Compliance, Risk Management
Level: Level 1

Topic: HR - Other Human Resources functions
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q4b – HR – Training and developmen

Outline the benefits of training and development for both the company and the employee.

Question

b) Training presents a prime opportunity to expand the knowledge base of all employees, but many employers find the development opportunities expensive.

Despite the potential drawbacks, training and development provide both the company and the employee with benefits that make the cost and time a worthwhile investment.

Required:
Outline THREE benefits to be derived from training and development by
i) a company and
ii) an employee.
(6 marks)

Answer

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Tags: Company Benefits, Employee Benefits, Human Resources, Training and Development
Level: Level 1

Topic: HR - Training and Development
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q4a – Introduction to information technology and information systems

Identify five ways in which IT and IS might improve Akosua Textiles Ltd.'s operations.

Question

a) Akosua Textiles Ltd has grown from a hand weaving “kente” factory to a modern textiles and fabric processing company with shops spreading across the country. The company faces a lot of system challenges, and the Board appointed a systems expert to conduct a review of systems and technology within the company.

The findings of the expert were:

The systems are generally weak and the benefits of modern software applications are lacking.
The accuracy and completeness of information received by head office from shops need to improve.
The existing financial system is struggling to cope with the rapid growth of sales.
Common computerized stock records will also be required for proper inventory management and control.
Internet possibilities are being missed and there is no virtual network.

Required:
Identify FIVE ways in which Information Technology and Information Systems might improve Akosua Textiles Ltd.
(10 marks)

Answer

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Tags: Business Improvement, Information Systems, Information Technology, System Challenges, Technological Solutions
Level: Level 1

Topic: Introduction to information technology and information systems
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q3b – Management and leadership

Explain the concepts of leadership, power, and authority in a business context.

Question

b) Explain the following:
i) Leadership
ii) Power
iii) Authority
(8 marks)

Answer

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Tags: Authority, Leadership, Management Concepts, Organizational Behavior, Power
Level: Level 1

Topic: Management and leadership
Series: NOV 2017

BMIS – Jul 2023 – L1 – Q1b – The business organisation and its stakeholders

Explains five reasons why a partnership may not be a suitable form of business organization.

Question

Your childhood friend who knows nothing about business operations has decided to establish a form of business organization with funds bequeathed to him by his late uncle. While you believe a limited liability company is most suitable, he prefers either a sole proprietorship or partnership.

Required:
Explain to your friend FIVE (5) reasons a Partnership form of business would not be a good idea.

Answer

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Tags: Business Structure, Decision Making, Liability, Partnership
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: JULY 2023

BMIS – Nov 2017 – L1 – Q2b – Introduction to information technology and information systems

Illustrate how businesses use MIS in Finance, Manufacturing, Sales, and Human Resources.

Question

b) Businesses use Management Information Systems (MIS) in their operations. Illustrate with ONE example each of how businesses use MIS in the following functional areas:
i) Finance and Accounting
ii) Manufacturing and Production
iii) Sales and Marketing
iv) Human Resource Management
(16 marks)

Answer

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Tags: Finance and Accounting, Functional Areas, Human Resources, Management Information Systems, Manufacturing and Production, MIS, Sales and Marketing
Level: Level 1

Topic: Introduction to information technology and information systems
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q2a – Introduction to information technology and information systems

Convince a CEO about the benefits of investing in Management Information Systems (MIS).

Question

a) Your friend who is the Chief Executive Officer of a food processing company recently discussed with you the need for his organization to adapt to technological changes by investing in Management Information Systems (MIS). His problem, however, is that the benefits that will accrue to the business may not justify the costs involved in such huge investments.

Required:
Convince your friend by stating FOUR benefits that will accrue to the company for investing in such a project.
(4 marks)

Answer

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Tags: Business Technology, Information Systems, Management Information Systems, MIS, Technological Investment
Level: Level 1

Topic: Introduction to information technology and information systems
Series: NOV 2017

BMIS – Jul 2023 – L1 – Q1a – Professional ethics in accounting and business

Outlines ethical obligations of a company towards employees, customers, shareholders, suppliers, and the community.

Question

The basis for assessing excellent company performance is gradually moving away from profitability to how ethical the company operates and treats its stakeholders.

Required:
Outline TWO (2) ethical obligations of a company towards the following stakeholders.
i) Employees (2 marks)
ii) Customers (2 marks)
iii) Shareholders (2 marks)
iv) Suppliers (2 marks)
v) Community (2 marks)

Answer

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Tags: Corporate Social Responsibility, Ethics, Stakeholder Management
Level: Level 1

Topic: Professional ethics in accounting and business
Series: JULY 2023

BMIS – Nov 2017 – L1 – Q1c – Introduction to business strategy

Distinguish between a strategic plan and an operational plan in an organization.

Question

c) Good links between operational and strategic planning help in the execution of corporate strategies. However, managers gain from knowing the difference between strategic and operational objectives because this distinction plays a major role in the conversion of an overarching vision into specific tasks.

Required:
Distinguish between a strategic plan and an operational plan.
(5 marks)

Answer

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Tags: Business Strategy, Operational Planning, Organizational Planning, Strategic Planning
Level: Level 1

Topic: Introduction to Business Strategy
Series: NOV 2017

BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

Question

b) In an organization, every action of management body is influenced by the environment. In this context, “environment” means understanding the surroundings or conditions in which a particular activity is carried out.

Required:
Distinguish between internal and external environment of a business organization.
(5 marks)

Answer

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Tags: Business Environment, External Environment, Internal Environment, Organizational Environment, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2017

Subject: BUSINESS MANAGEMENT & INFORMATION SYSTEMS

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BMIS-Nov-2024-L1-Q5c-Benefits of Internet and E-commerce for Suppliers and Customers

Explains the benefits of internet and e-commerce for suppliers and customers.

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BMIS-Nov-2024-L1-Q5b- Example of a Non-Traditional Product Life Cycle

Identifies and explains a product or service whose life cycle doesn't follow the traditional stages.

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BMIS-Nov-2024-L1-Q5a- Product Life Cycle Stages

Match products to their corresponding stages in the product life cycle: introduction, growth, maturity, and decline.

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BMIS-Nov-2024-L1-Q4b-Performance Appraisal and Employee Competence

Describes the components of performance appraisal and suggests ways to assess employee competence.

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BMIS-Nov-2024-L1-Q4a-Advantages of Appointing a Single Distributor in Ghana

Discusses the advantages of appointing a single distributor for business operations in Ghana.

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BMIS-Nov-2024-L1-Q3c-Explanation of a “51% Attack” in Blockchain

Defines a "51% attack" in blockchain and explains its implications.

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BMIS-Nov-2024-L1-Q3b-Hofstede’s Dimensions of Organisational Culture

Explains Hofstede's cultural dimensions and what a 51% blockchain attack entails.

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BMIS-Nov-2024-L1-Q3a- Arguments Against Maximizing Shareholder Wealth Through Rational Strategic Planning

This question discusses arguments against the notion that a company should focus solely on maximizing shareholder wealth through rational strategic planning.

You're reporting an error for "BMIS-Nov-2024-L1-Q3a- Arguments Against Maximizing Shareholder Wealth Through Rational Strategic Planning"

BMIS-Nov-2024-L1-Q2b- Economic Factors Influencing Business Opportunities and Threats

Economic factors that shape business opportunities or threats based on the PEST model.

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BMIS-NOV2024-LV1-Q2a-Monopoly Control and Government Action

disadvantages of monopolies and government actions against them.

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BMIS – Nov 2017 – L1 – Q4c – HR – Other human resources functions

Identify benefits to Adjala Ltd from having a robust health and safety policy.

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BMIS – Nov 2017 – L1 – Q4b – HR – Training and developmen

Outline the benefits of training and development for both the company and the employee.

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BMIS – Nov 2017 – L1 – Q4a – Introduction to information technology and information systems

Identify five ways in which IT and IS might improve Akosua Textiles Ltd.'s operations.

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BMIS – Nov 2017 – L1 – Q3b – Management and leadership

Explain the concepts of leadership, power, and authority in a business context.

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BMIS – Jul 2023 – L1 – Q1b – The business organisation and its stakeholders

Explains five reasons why a partnership may not be a suitable form of business organization.

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BMIS – Nov 2017 – L1 – Q2b – Introduction to information technology and information systems

Illustrate how businesses use MIS in Finance, Manufacturing, Sales, and Human Resources.

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BMIS – Nov 2017 – L1 – Q2a – Introduction to information technology and information systems

Convince a CEO about the benefits of investing in Management Information Systems (MIS).

You're reporting an error for "BMIS – Nov 2017 – L1 – Q2a – Introduction to information technology and information systems"

BMIS – Jul 2023 – L1 – Q1a – Professional ethics in accounting and business

Outlines ethical obligations of a company towards employees, customers, shareholders, suppliers, and the community.

You're reporting an error for "BMIS – Jul 2023 – L1 – Q1a – Professional ethics in accounting and business"

BMIS – Nov 2017 – L1 – Q1c – Introduction to business strategy

Distinguish between a strategic plan and an operational plan in an organization.

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BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

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