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 – Dec 2023 – L1 – Q2b – The external environment

Outlines five effects that inflation can have on an economy.

Question

The global economic challenges have largely been fueled by demand-pull inflation or cost-push inflation. Many governments have initiated measures to mitigate the associated effects.

Required:

Outline FIVE (5) effects inflation have on an economy.

Answer

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Tags: Economic Impact, Inflation, Macroeconomics
Level: Level 1

Topic: The external environment
Series: DEC 2023

BMIS – Dec 2023 – L1 – Q2a – The external environment

Differentiates between cyclical and structural unemployment and explains the economic and non-economic costs associated with them.

Question

The economic uncertainties associated with declining Gross Domestic Product may result in a country experiencing either cyclical or structural types of unemployment.

Required:

i) Differentiate between these two types of unemployment.

ii) Explain FIVE (5) economic and non-economic costs associated with these two types of unemployment in a country.

Answer

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Tags: Cyclical Unemployment, Economic Impact, Structural Unemployment, Unemployment
Level: Level 1

Topic: The external environment
Series: DEC 2023

BMIS – Dec 2023 – L1 – Q1b – Business and organisational structure

Explains the nature of virtual organizations and the benefits associated with them.

Question

The emergence of globalization has resulted in some small and large businesses operating as virtual organizations.

Required:

Explain to your study mates the nature of this organizational type and state FOUR (4) benefits associated with it.

Answer

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Tags: Globalization, Operational Efficiency, Virtual Organizations
Level: Level 1

Topic: Business and Organisational Structure
Series: DEC 2023

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

Question

The Gana Oil Company was granted a license by the government to conduct its own oil explorations and drilling in Ghana. The Chief Executive Officer (CEO) on realizing the nature and the risks involved in the explorations and drilling venture decided to form an alliance with Emi Explorations International to implement the venture.

Required:

Explain FIVE (5) benefits Gana Oil Company will gain from the CEO’s decision.

Answer

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Tags: Business Strategy, Oil Exploration, Risk Reduction, Strategic Alliance
Level: Level 1

Topic: Competitive forces and markets
Series: DEC 2023

BMIS – May 2017 – L1 – Q1a – The business organization and its stakeholders

Describe three benefits and three disadvantages of privatization.

Question

a) Privatisation can refer to the act of transferring ownership of specified property or business operations from a government organisation to a privately owned entity, as well as the transition of ownership from a publicly traded, or owned, company to a privately owned company.

Required:
i) Describe THREE potential benefits of privatisation. (3 marks)
ii) State THREE disadvantages of privatisation.

(3 marks)

Answer

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Tags: Business Ownership, Government Policy, Privatisation
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAY 2017

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

Question

Michael Porter identified three broad generic strategies which he asserted an organisation can utilise to gain competitive advantage over other firms.

Required:

Explain these THREE (3) generic strategies.

Answer

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Tags: Business Strategy, Competitive Advantage, Generic Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q5a – Introduction to information technology and information systems

Explains five operational improvements that an organization can achieve by investing in information and communications technology (ICT) systems.

Question

Quantum Manufacturing Ltd has invested GH¢1 million in information and communications technology systems to facilitate more effective operations which will result in operational improvements in their activities.

Required:

Explain FIVE (5) of such operational improvements.

Answer

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Tags: ICT Investment, Information Systems, Operational Efficiency
Level: Level 1

Topic: Introduction to information technology and information systems
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q4b – HR – Other human resources functions

Explains five reasons why organizations are concerned about the health and safety of their employees.

Question

The outbreak of the COVID-19 pandemic caused many organisations to be more concerned about the health and safety of their employees.

Required:

Explain FIVE (5) reasons for this concern.

Answer

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Tags: Employee Health, HR Management, Workplace Safety
Level: Level 1

Topic: HR - Other Human Resources functions
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q4a – Finance, R&D and marketing strategies

Differentiates between penetration pricing and skimming pricing strategies and outlines the circumstances for their use.

Question

Penetration pricing and Skimming pricing are the two main pricing strategies used by business organisations.

Required:

i) Differentiate between these two pricing strategies.
(4 marks)

ii) Outline THREE (3) circumstances for which each of these pricing strategies will be appropriate for use by a manufacturing company.
(6 marks)

Answer

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Tags: Marketing, Penetration Pricing, Pricing Strategies, Skimming Pricing
Level: Level 1

Topic: Finance, R&D and marketing strategies
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q3b – Management and leadership

Explains the differences between leadership and management in a business context.

Question

Leadership and Management are two terms often used interchangeably by both business practitioners and academicians.

Required:

As a resource person to a group of accounting students preparing for examinations in Business Management and Information Systems, explain FIVE (5) ways in which the two terms differ from each other.

Answer

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Tags: Leadership, Management, Organizational Behavior
Level: Level 1

Topic: Management and leadership
Series: AUG 2022

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.

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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 – Dec 2023 – L1 – Q2b – The external environment

Outlines five effects that inflation can have on an economy.

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BMIS – Dec 2023 – L1 – Q2a – The external environment

Differentiates between cyclical and structural unemployment and explains the economic and non-economic costs associated with them.

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BMIS – Dec 2023 – L1 – Q1b – Business and organisational structure

Explains the nature of virtual organizations and the benefits associated with them.

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BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

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BMIS – May 2017 – L1 – Q1a – The business organization and its stakeholders

Describe three benefits and three disadvantages of privatization.

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BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

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BMIS – Aug 2022 – L1 – Q5a – Introduction to information technology and information systems

Explains five operational improvements that an organization can achieve by investing in information and communications technology (ICT) systems.

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BMIS – Aug 2022 – L1 – Q4b – HR – Other human resources functions

Explains five reasons why organizations are concerned about the health and safety of their employees.

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BMIS – Aug 2022 – L1 – Q4a – Finance, R&D and marketing strategies

Differentiates between penetration pricing and skimming pricing strategies and outlines the circumstances for their use.

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BMIS – Aug 2022 – L1 – Q3b – Management and leadership

Explains the differences between leadership and management in a business context.

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