Topic: The Business Organisation and its Stakeholders

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BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

Question

Kofi Stone, Ama Black and Adwoa Sika who were your students at the Ultimate Business School have decided to venture into business after their National Service which ends in the next three months. They have approached you for your advice on the type(s) of business(es) which they should invest in, considering the country’s economic environment.

Required:
Explain THREE (3) business types available to them. (6 marks)

Answer

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Tags: Business Types, Limited Liability Company, Partnership, Sole Proprietorship
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

Question

Explain TWO (2) characteristics of a Private Limited Liability Company. (4 marks)

Answer

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Tags: Company Characteristics, Private Limited Liability
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2021 – L1 – Q1b – The business organization and its stakeholders

Classify organizational purposes under profit-oriented and non-profit-oriented categories.

Question

Two organizations operate in your locality, one operates as profit-oriented and the other as non-profit-oriented. They all have varying purposes.

Required:
You are required to categorize the following purposes under the two types of organizations:

To expand product range to include children’s clothing.
To expand social protection interventions to include girls between the ages of 15-18 years.
To ensure that visitors to public parks pay an entry fee of GH¢1.00 for its maintenance.
To create high quality, high demand products to maximize shareholder value.
To provide excellent client services to enhance public goodwill, which will in turn, attract more government funding.
To increase after-tax profits to attract more investors to invest in the organization.
Provide customers with the opportunity to benefit from the company’s profits by offering periodic prizes for the purchases they make.
Increase annual dividends by 3% of the current amount paid.
Install vending machines at strategic points to sell non-alcoholic beverages to visitors.
Market facility on the internet to attract global patronage.

Answer

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Tags: Non-profit-oriented, Organizational Purposes, Profit-oriented, Stakeholders
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2021

BMIS – May 2020 – L1 – Q1a – The business organisation and its stakeholders

Classify various entities into appropriate categories of organizations and justify the classification.

Question

Organisations can be categorised into the following types:

Business organisations
Public sector organisations
Non-government not-for-profit organisations.

Required:
To which category or categories of organisation do the following entities belong, and why?
i) A charity receiving 60% of its annual funding from central government.
ii) A basic school.
iii) State-owned Electricity Company.
(6 marks)

Answer

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Tags: Business, Non-profit, Organization Types, Public Sector
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAY 2020

BMIS – Nov 2016 – L1 – Q1a – The business organisation and its stakeholders

Differentiate between profit and non-profit organizations in terms of purpose, fundraising, and surplus utilization.

Question

Both profit and non-profit making organizations operate in the economic development of every country. However, they differ in their objectives and operations.

Show these differences with reference to the following: i) Purpose of existence (2 marks)
ii) Raising of funds (2 marks)
iii) Utilisation of surplus funds (2 marks)

Answer

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Tags: Business Organisation, Fundraising, Objectives, Profit vs Non-Profit, Surplus Utilization
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2016

BMIS – Nov 2018 – L1 – Q3 – The business organisation and its stakeholders

Explain how the public sector complements the private sector and the bureaucratic characteristics of the public sector.

Question

The Private Sector has been described as an engine of growth and the Public Sector as the lubricant that keeps the engine running. However, the Public Sector has gained notoriety for being a financial drain on the nation’s resources.

Required:
a) Explain FOUR (4) ways in which the Public Sector complements the efforts of the Private Sector. (10 marks)

b) Explain FOUR (4) characteristics of the Public Sector that make them bureaucratic. (10 marks)

Answer

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Tags: Bureaucracy, Economic growth, Government Role, Private Sector, Public Sector
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2018

BMIS – March 2024 – L1 – Q2b – The business organisation and its stakeholders

Briefly discuss how shareholders, customers, suppliers, and the government may be rewarded for a company's good financial performance.

Question

Briefly discuss how the following external stakeholder groups may be rewarded for a company’s good financial performance.

i) Shareholders ii) Customers iii) Suppliers iv) Government (4 marks)

Answer

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Tags: Customers, Financial Performance, Government, Shareholders, Stakeholder rewards, Suppliers
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAR 2024

BMIS – March 2024 – L1 – Q1a – The business organisation and its stakeholders

Explain five features of a Public Limited Liability Company to a friend considering investment options.

Question

You have been approached by a high school friend for advice as to the form of business organisation in which he should invest. He indicates to you that he does not necessarily want to be directly involved in the day-to-day running of the business because he has family matters to attend to. You intend to recommend that he invests in a public limited liability company.

Required: Explain FIVE (5) features of a Public Limited Liability Company to your friend.

Answer

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Tags: Business organization, Companies Act, Company features, Investment advice, Public Limited Liability Company
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAR 2024

BMIS – Nov 2023 – L1 – Q1a – The business organisation and its stakeholders

Explain the characteristics of organisational objectives.

Question

Management philosophers are unanimous about the fact that the quality of objectives largely
determines how useful they are thus improving their chances of being attained. Several
guidelines have subsequently been established over time to help managers develop high quality organisational objectives
Required:
Explain FIVE (5) characteristics of an organisational objective.

Answer

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Tags: Management, Objectives, Organisational Goals
Level: Level 1

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

BMIS – Nov 2017 – L1 – Q3a – The business organisation and its stakeholders

Describe four principles of Scientific Management as proposed by Frederick Taylor.

Question

a) Frederick Taylor’s attempt to apply technical knowledge to the analysis and standardization of work came to be known as Scientific Management.

Required:
Describe FOUR principles of Scientific Management.
(12 marks)

Answer

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Tags: Frederick Taylor, Management Principles, Scientific Management, Work Standardization
Level: Level 1

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

BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

Question

Required:
Explain THREE (3) business types available to them. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Types, Limited Liability Company, Partnership, Sole Proprietorship
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

Question

Explain TWO (2) characteristics of a Private Limited Liability Company. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Characteristics, Private Limited Liability
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2021 – L1 – Q1b – The business organization and its stakeholders

Classify organizational purposes under profit-oriented and non-profit-oriented categories.

Question

Two organizations operate in your locality, one operates as profit-oriented and the other as non-profit-oriented. They all have varying purposes.

Required:
You are required to categorize the following purposes under the two types of organizations:

To expand product range to include children’s clothing.
To expand social protection interventions to include girls between the ages of 15-18 years.
To ensure that visitors to public parks pay an entry fee of GH¢1.00 for its maintenance.
To create high quality, high demand products to maximize shareholder value.
To provide excellent client services to enhance public goodwill, which will in turn, attract more government funding.
To increase after-tax profits to attract more investors to invest in the organization.
Provide customers with the opportunity to benefit from the company’s profits by offering periodic prizes for the purchases they make.
Increase annual dividends by 3% of the current amount paid.
Install vending machines at strategic points to sell non-alcoholic beverages to visitors.
Market facility on the internet to attract global patronage.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Non-profit-oriented, Organizational Purposes, Profit-oriented, Stakeholders
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2021

BMIS – May 2020 – L1 – Q1a – The business organisation and its stakeholders

Classify various entities into appropriate categories of organizations and justify the classification.

Question

Organisations can be categorised into the following types:

Business organisations
Public sector organisations
Non-government not-for-profit organisations.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business, Non-profit, Organization Types, Public Sector
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAY 2020

BMIS – Nov 2016 – L1 – Q1a – The business organisation and its stakeholders

Differentiate between profit and non-profit organizations in terms of purpose, fundraising, and surplus utilization.

Question

Both profit and non-profit making organizations operate in the economic development of every country. However, they differ in their objectives and operations.

Show these differences with reference to the following: i) Purpose of existence (2 marks)
ii) Raising of funds (2 marks)
iii) Utilisation of surplus funds (2 marks)

Answer

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Tags: Business Organisation, Fundraising, Objectives, Profit vs Non-Profit, Surplus Utilization
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2016

BMIS – Nov 2018 – L1 – Q3 – The business organisation and its stakeholders

Explain how the public sector complements the private sector and the bureaucratic characteristics of the public sector.

Question

Required:
a) Explain FOUR (4) ways in which the Public Sector complements the efforts of the Private Sector. (10 marks)

b) Explain FOUR (4) characteristics of the Public Sector that make them bureaucratic. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bureaucracy, Economic growth, Government Role, Private Sector, Public Sector
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2018

BMIS – March 2024 – L1 – Q2b – The business organisation and its stakeholders

Briefly discuss how shareholders, customers, suppliers, and the government may be rewarded for a company's good financial performance.

Question

Briefly discuss how the following external stakeholder groups may be rewarded for a company’s good financial performance.

i) Shareholders ii) Customers iii) Suppliers iv) Government (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customers, Financial Performance, Government, Shareholders, Stakeholder rewards, Suppliers
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAR 2024

BMIS – March 2024 – L1 – Q1a – The business organisation and its stakeholders

Explain five features of a Public Limited Liability Company to a friend considering investment options.

Question

Required: Explain FIVE (5) features of a Public Limited Liability Company to your friend.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business organization, Companies Act, Company features, Investment advice, Public Limited Liability Company
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAR 2024

BMIS – Nov 2023 – L1 – Q1a – The business organisation and its stakeholders

Explain the characteristics of organisational objectives.

Question

Answer

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Tags: Management, Objectives, Organisational Goals
Level: Level 1

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

BMIS – Nov 2017 – L1 – Q3a – The business organisation and its stakeholders

Describe four principles of Scientific Management as proposed by Frederick Taylor.

Question

a) Frederick Taylor’s attempt to apply technical knowledge to the analysis and standardization of work came to be known as Scientific Management.

Required:
Describe FOUR principles of Scientific Management.
(12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Frederick Taylor, Management Principles, Scientific Management, Work Standardization
Level: Level 1