MNG3702 UNISA 2024 Exam Questions with Correct Answers

Main purpose of a business? Correct Answer Traditionally, to make a profit. Currently - organisations must satisfy needs of all stakeholders, not only shareholders. 3 pillars of responsible strategic leader? Correct Answer * Sustainability strategic leadership - create direction, create alignment, maintain commitment. * Responsibility strategic leadership - key stakeholders * Ethical strategic leadership 6 levels of commitment to challenges of responsibility & sustainability? Correct Answer 1) Rejection = work actively against 2) Non-responsiveness 3) Compliance = to avoid risk 4) Efficiency = cost-reduction & efficiency strategy 5) Strategic pro-activity = sustainability viewed as achieving competitive advantage 6) The sustaining organisation = committed to principles of social and ecological sustainability that maintains financial returns but is focused on meeting the needs of the present without compromising opportunities of future generations. Difference between ethics and morality? Correct Answer * Ethics = making the rules (underlying rationale used to create morality) * Morality = applying these rules Business ethics? Correct Answer The study of what constitutes right and wrong human conduct in a business context. What is organisational structure? Correct Answer The formal configuration between individuals and groups regarding allocation of tasks, responsibilities and authority within an organisation. Responsible organisational structure? Correct Answer Integration of responsible management, sustainable development and ethical practice throughout the structure of the organisation. What makes a person a leader? Correct Answer 1) There need to be followers. 2) A leader is out front, determining the standard. 3) Leader strives to build authentic relationships. 4) A leader is not necessarily an individual. 5) Leader and followers have a common goal. Strategic leadership? Correct Answer Process by which a strategic leader influences followers to achieve strategic vision of the organisation.