Round 2 (grade 9 & 10)

Why is it important for businesses to adapt to changing customer needs?

• To maintain a competitive edge and ensure customer satisfaction

• To reduce production costs by ignoring new market trends

• To continue offering the same products indefinitely

• To avoid market research

Which of the following is a benefit of induction training?

• It helps new employees understand company culture and their role within the company

• It is less time-consuming than ongoing training

• It is not necessary for employee retention

• It focuses primarily on technical skills

Dismissal occurs when:

• An employee's position is no longer needed due to changes in company strategy

• The company needs to reduce its workforce because of financial constraints

• An employee is terminated for reasons related to their behavior or performance

• An employee's role is made redundant due to technological advancements

Which of the following is a type of current asset?

• Inventory

• Accounts Payable

• Loan

• Bank Overdraft

When recommending which employees to make redundant, which of the following criteria might be considered?

• Seniority and length of service

• Personal relationships and subjective opinions

• Employee performance, skills relevance, and the impact on operations

• Employee age and gender

Which of the following is a benefit of having a well-motivated workforce?

• Increased labour turnover

• Reduced productivity

• Decreased absenteeism

• Higher operational costs

What is the purpose of a Profit and Loss Account?

• To show financial position

• To analyze financial data

• To classify and summarize transactions

• To show profit or loss for a period

According to Maslow's hierarchy of needs, which need is at the top of the pyramid?

• Safety needs

• Physiological needs

• Esteem needs

• Self-actualization needs

According to Taylor's scientific management theory, what is the primary factor in motivating workers?

• Social and psychological needs

• Financial incentives and efficient work practices

• Job enrichment and personal fulfillment

• Teamworking and collaboration

What is a benefit of job rotation as a motivational method?

• It increases job monotony and decreases job satisfaction

• It allows employees to acquire a range of skills and prevents job fatigue

• It focuses solely on financial incentives

• It reduces opportunities for promotion