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 – 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 – Mar 2023 – L1 – Q1a – The business organisation and its stakeholders

Explains four benefits for a partnership converting to a Public Limited Liability Company.

Question

Asante, Oforiwaa, and Obrafour, who are well known to you and have been operating a Partnership for many years, have approached you for advice regarding their decision to convert it into a Public Limited Liability Company.

Required:
Explain FOUR (4) benefits that will be enjoyed by members of the Partnership should they convert it into a Public Limited Liability Company.

Answer

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Tags: Business Benefits, Corporate Structure, Partnership, Public Limited Company
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: MAR 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 – Q2a – The business organisation and its stakeholders

Explains the concepts of mission, vision, values, strategy, and objectives as they relate to a business organization.

Question

Explain the following as they relate to a business organisation:

i) Mission
ii) Vision
iii) Values
iv) Strategy
v) Objective

Answer

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Tags: Mission, Objectives, Strategy, Values, Vision
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: AUG 2022

BMIS – Nov 2020 – L1 – Q2a – The business organisation and its stakeholders

Explains the stakeholder theory and outlines the needs of various identified stakeholders.

Question

The successful operations of every organisation depend on its positive relationship with stakeholders like shareholders, employees, customers, government, suppliers, and the community in which it operates.

i) Explain the stakeholder theory.
(3 marks)

ii) Outline TWO (2) needs of these identified stakeholders.
(12 marks)

Answer

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Tags: Business Ethics, Stakeholder Needs, Stakeholder Theory
Level: Level 1

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

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

Explains the advantages of converting to a public limited company, corporate social responsibility, and examples of socially responsible projects.

Question

Mr. Steve Ansah and his wife Betty, who have successfully operated SteveBetty Co. Ltd, a Private Limited Liability Company, over the last several years, are considering converting it into a Public Limited Liability Company and have approached you as a Corporate Planning Analyst for your advice.

i) Explain to them THREE (3) advantages associated with converting to a Public Limited Liability Company.
(6 marks)

ii) Explain Corporate Social Responsibility to the management of SteveBetty Co. Ltd.
(2 marks)

iii) State TWO (2) examples of socially responsible projects that SteveBetty Co. Ltd can engage in.
(2 marks)

Answer

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Tags: Corporate Social Responsibility, Organizational Structure, Public Limited Company
Level: Level 1

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

BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders

Explain what a public limited liability company is and discuss two features of a private limited liability company.

Question

Nkaagi, your long-time family friend who is an Engineer by profession, recently took over as the Chief Executive Officer of Wakawaka Investment Ltd, a company listed on the Ghana Stock Exchange. He has on several occasions complained about the many legal requirements they have had to contend with and has now approached you for advice on the benefits to be derived from converting a public limited liability company into a private limited liability company.

Required:
i) Explain what a public limited liability company means to Nkaagi. (4 marks)
ii) Explain TWO (2) features of a private limited liability company. (6 marks)

Answer

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Tags: Capital, Legal Structure, Private Company, Public Company, Shareholder Rights
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: APR 2022

BMIS – May 2021 – L1 – Q1a – The business organisation and its stakeholders

Explain five challenges that come with operating as a not-for-profit organization.

Question

Emani World is a not-for-profit and non-partisan organization established in Ghana to offer various services, including corruption prevention campaigns, social justice, election observation, and environmental protection. Like any other not-for-profit organization, Emani World is confronted with numerous challenges in its operations as a not-for-profit organization.

Required:
Explain FIVE (5) challenges that come with operating as a not-for-profit organization.

Answer

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Tags: Expertise Attraction, Funding, Not-for-profit, Political Tagging, Public Perception
Level: Level 1

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

BMIS – May 2016 – L1 – Q2a – The business organisation and its stakeholders

Explain five reasons a mission statement may contribute to a firm’s success.

Question

One of the common threads many successful firms share is that they have a workable mission statement. Explain FIVE reasons a mission statement may contribute to a firm’s success.

Answer

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Tags: Company Culture, Mission Statement, Organizational Focus, Public Communication, Strategic Decision
Level: Level 1

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

BMIS – May 2016 – L1 – Q1a – The Business Organisation and its Stakeholders

Identify five benefits that may accrue to an organization from outsourcing.

Question

Your organization has outsourced most of its functions to adjust to modern trends in organizational management. Identify FIVE benefits that may accrue to your organization from this arrangement. (10 marks)

Answer

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Tags: Core Competencies, Efficiency, Outsourcing, Recruitment, Risk Sharing
Level: Level 1