Question 3: TRUE and FALSE Questions

Here are the answers to the True/False questions, based on general business
knowledge:

i. Capacity only considers the borrower's income and not their expenses.
FALSE

ii. Capital is only relevant for small business loans and not for personal loans.
FALSE

iii. Collateral is only relevant for secured loans and not for unsecured loans.
TRUE

iv. Character refers to the borrower's credit history and reputation. TRUE

v. Conditions refer to the interest rates and market conditions that affect a
loan. TRUE

vi. Business environmental analysis is a process of identifying and analyzing

the external factors that affect a company's performance. TRUE

vii. The PESTEL framework is a popular tool used in business environment

analysis to identify the external factors that affect a company. TRUE

viii. A competitive advantage is a unique attribute or characteristic that sets

a company apart from its competitors. TRUE

ix. Porter's Five Forces model is only used in industries with high levels of
competition. FALSE

x. SWOT Analysis is only used in small organizations. FALSE

Question 2. MATCHING ITEMS

LIST A LIST B
i) Memorandum of Association (MOA) G (These are companies which are
incorporated by registration)

ii) BRELA M (An agency responsible to register business

in Tanzania)

iii) Registered companies A (The owner and the business are

inseparable)

iv) Sole proprietorship J (Characteristics of a sole proprietorship)

v) Franchising H (It is an agreement where one party gives

another person or group of persons the right to market a product or service
using the trademark or trade name)

vi) Ordinary partnership C (The kind of partnership which is not

separate legal entity and the partners are liable for the debts of the
partnership)

vii) Partnership E (A group of people contribute their time,

talents and money towards the business)

viii) Going concern F (The formation and control of these

companies is vested under a particular document)

ix) Articles of Association D (A legal document that defines the

constitution of the company and its relation to the outside world)

x) Public company B (An ended company where any person

may buy shares of a company)
xi) Feature of corporate L (Feature of corporate contributes capital
but doesn't take part in the running the business)

Question VII:

A company operates in an industry with high barriers to entry, low threat of

substitute products, and low bargaining power of buyers. What is the likely
competitive advantage of the company?

a) Ability to negotiate with suppliers

b) Ability to innovate and differentiate

c) Ability to expand operations with suppliers

d) Ability to withstand low prices from multiple players in the market

Analysis:

High barriers to entry mean it's difficult for new competitors to enter the
market. This gives the existing company a strong position.

Low threat of substitutes means customers have fewer alternative products

to choose from, increasing the company's market power.

Low bargaining power of buyers means customers have limited influence on

pricing, again benefiting the company.

Considering these factors, the company has a strong position and isn't
pressured by competitors, substitutes, or demanding customers. The most
likely competitive advantage would stem from its ability to:

b) Ability to innovate and differentiate: This allows the company to further

solidify its position by offering unique products or services that customers
value and competitors can't easily replicate.
Therefore, the answer is (b).

The other options are less likely to be the primary competitive advantage in
this scenario:

a) Ability to negotiate with suppliers: While important, it's not the defining
advantage when the company already has strong market power.

c) Ability to expand operations with suppliers: This is related to supplier

relationships but not the core competitive advantage.

d) Ability to withstand low prices from multiple players in the market: This is
less relevant when there are high barriers to entry and low buyer power.

Question IX:

A company is considering developing a strong relationship with its suppliers.

What is the key impact of a change in low entrance and low threat of
substitute products?

a) The company will benefit from increased demand.

b) The company will experience decreased demand due to higher bargaining

power of buyers.

c) The company will experience no change in demand due to stable market.

d) The company will experience increased demand due to lower bargaining

power of buyers.

Analysis:

Low entrance means fewer new competitors are entering the market.

Low threat of substitutes means fewer alternative products are available to

customers.

Developing a strong relationship with suppliers is a strategic move that

affects the company's operations and cost structure. However, the impact on
demand is more directly related to the market conditions (low entrance, low
substitutes).

d) The company will experience increased demand due to lower bargaining

power of buyers: This is the most likely outcome. With low bargaining power,
buyers have less influence on pricing and demand, potentially leading to
increased demand.

Therefore, the answer is (d).

The other options are less likely:

a) The company will benefit from increased demand: While demand might
increase, it's not directly tied to supplier relationships in this scenario.

b) The company will experience decreased demand due to higher bargaining

power of buyers: This contradicts the given condition of low buyer bargaining
power.

c) The company will experience no change in demand due to stable market:

While the market might be stable, the supplier relationship can still impact
demand.

Question I:

Which of the following is the most common challenge faced by entrepreneurs

in today's market?

a) Funding

b) Competition

c) Scaling the business

d) Finding a major challenge

Analysis:

While all options can be challenges, funding is often cited as the most
common and significant obstacle for entrepreneurs, especially in the early
stages of a business.

Therefore, the answer is (a).

Question II:

Which of the following is a major challenge faced by entrepreneurs in terms

of talent acquisition?

a) Developing a significant business plan

b) Developing a strong relationship with suppliers

c) Managing data security and cybersecurity

d) Securing adequate IT infrastructure and operating systems

Analysis:

Developing a significant business plan is crucial for securing funding and

guiding the business, but it's not directly related to talent acquisition.
Managing data security and cybersecurity as well as securing adequate IT
infrastructure are important operational challenges but not primarily about
attracting and retaining talent. Developing a strong relationship with
suppliers is also not directly related to talent acquisition.

The most relevant challenge in terms of talent acquisition is:

None of the provided options directly address talent acquisition. The question
might be flawed or missing the correct answer. The closest, though not ideal,
option might be (a) Developing a significant business plan, as it can help
attract potential employees by showcasing the company's vision and
strategy. However, this is a stretch.

Given the options, the best (though imperfect) answer is (a). But it's
important to note that this question is poorly framed for the topic of talent
acquisition.

Question III:

Which of the following is the ability to think outside the box and come up
with new and innovative ideas?

a) Fear of making mistakes

b) Resistance to change

c) Brainstorming

d) Continuous process of generating a large number of ideas called.

Analysis:

The ability to think outside the box and generate new ideas is most
accurately described by:

c) Brainstorming

Therefore, the answer is (c).

Question IV:

Which of the following is a structured process of generating a large number

of ideas called?
a) Free writing

b) SWOT analysis

c) Brainstorming

d) Mind mapping

Analysis:

A structured process for generating many ideas is:

c) Brainstorming

Therefore, the answer is (c).

Question VI:

A new company is entering a highly competitive market with a low-cost

product. What is the most likely threat to this new entrant?

a) Bargaining Power of Suppliers

b) Bargaining Power of Buyers

c) Threat of Substitute Products

d) Threat of New Entrants

Analysis:

The most likely threat to a new entrant in a competitive market with a low-
cost product is:

d) Threat of New Entrants

This is because the existing competition is already established, and new
entrants will face challenges in gaining market share and competing on
price.

Therefore, the answer is (d).

Question VII:

A low-cost company is entering a growing market. The industry is

characterized by a low threat of new entrants and a low threat of substitute
products. What should the company consider if the power of buyers is high?

a) Focus on increasing brand awareness

b) Focus on maintaining a strong relationship with suppliers

c) Develop a strong relationship with suppliers to negotiate better prices

d) Develop a unique value proposition to differentiate from competitors

Analysis:

If the power of buyers is high, the company needs to focus on:

d) Develop a unique value proposition to differentiate from competitors

This will help them stand out and reduce the influence of buyers who are
likely to demand lower prices or switch to competitors.

Therefore, the answer is (d).

Answer that question

This image shows the general instructions for an examination paper from the
Institute of Accountancy Arusha. Let's break down the information:

Key Information:

Institution: Institute of Accountancy Arusha

Department: Faculty of Business Management & Procurement

Course: ODA II, ODFB II, ODAT II, ODBM II, ODCIM II, ODFIM II

Course Title: Principles of Entrepreneurship

Course Code: AFT 06310/IBMT06210

Session: II

Academic Year: 2023/2024

Date: 18th Tuesday, June 2024

Time Allowed: Three (3) Hours

Paper Pages: 5 pages

General Instructions:

This paper consists of FIVE printed pages. (Confirms the page count)

There are FIVE questions in this paper. (Indicates the number of questions to
be answered)

Attempt ALL questions. (Emphasizes that no questions can be skipped)

Do not write anything on the question paper. (Instructs students to use
separate answer sheets)

You are reminded to adhere to ALL Institute's Examination Regulations.

(General reminder about exam conduct)

In essence, this is a standard exam instruction sheet providing essential

details about the exam, including the subject, date, time, and guidelines for
answering the questions.

QUESTION TWO

2. Safety measures are inventory held in multiple locations to protect against

uncertainties in demand and/or shipping times.

Answer: This statement is FALSE. Safety measures in inventory refer to extra

stock kept to buffer against uncertainties, not the physical location of the
inventory.

3. Finished goods refers to the third stage of inventory in which the product
has reached a substantial completion.

Answer: This statement is TRUE. Finished goods are the final stage of
inventory, ready for sale or distribution.

4. Inventory classification or inventory data draw categories based on

importance and value is known as ABC analysis.

Answer: This statement is TRUE. ABC analysis categorizes inventory based

on value and importance (A being the most valuable, C being the least).

5. Durables are the immaterial hazards.

Answer: This statement is FALSE. Durables are physical goods that can be
repeatedly used. Immaterial hazards are non-physical risks (e.g., financial).

QUESTION THREE
Managers of building a warehouse building is technically the responsibility of
warehouse designers and planners who are responsible for designing
warehouse layouts, material handling systems and responsibilities of a
warehouse manager.

Answer: This statement is TRUE. Warehouse designers and planners are

responsible for the technical aspects of warehouse construction and layout,
while the warehouse manager is responsible for operations.

QUESTION FOUR

a) What is double handling and sourcing of materials.

Answer:

Double Handling: Double handling refers to moving materials or products

more than once when it's unnecessary. It leads to inefficiency, increased
costs, and potential damage.

Sourcing of Materials: Sourcing of materials is the process of finding,

evaluating, and engaging suppliers to acquire the raw materials,
components, or finished goods a business needs.

b) Explain any six (6) causes of double handling.

Answer:

Poor Warehouse Layout: Inefficient flow of materials due to a poorly designed

layout.

Lack of Proper Equipment: Insufficient or inappropriate equipment for

handling materials.

Inadequate Storage Systems: Using storage methods that require excessive

movement.

Poor Inventory Management: Disorganized inventory leading to unnecessary

relocation.

Unclear Processes: Lack of standardized procedures for receiving, storing,

and shipping.
Human Error: Mistakes made during handling or movement of materials.

QUESTION FIVE

a) Mention any six (6) advantages of installing CCTV in warehouse

operations.

Answer:

Deterrence: Acts as a deterrent to theft and unauthorized access.

Theft Prevention: Helps in identifying and preventing theft of inventory or

equipment.

Monitoring Safety: Allows for monitoring safety procedures and identifying

potential hazards.

Evidence Collection: Provides evidence in case of accidents, theft, or other

incidents.

Remote Monitoring: Enables remote viewing of warehouse activities.

Increased Productivity: Improves employee accountability and potentially

increases productivity.

b) Mention any six (6) rules and regulations for storing materials of different
nature in a warehouse.

Answer:

Segregation of Hazardous Materials: Store hazardous materials separately

and according to safety regulations.

Proper Labeling: Clearly label all materials with their contents and any
necessary warnings.

Temperature and Humidity Control: Maintain appropriate temperature and

humidity levels for sensitive materials.

First-In, First-Out (FIFO): Implement FIFO for perishable or time-sensitive

materials.

Secure Storage: Store valuable or sensitive materials in secure locations.

Proper Stacking and Weight Limits: Stack materials safely and adhere to
weight limits to prevent collapses.
Answer that

II) What is the term for integrating warehousing activities with transportation
and distribution to optimize the supply chain?

a) Supply Chain Integration

b) Logistics Coordination

c) Warehouse Automation

d) Distribution Management

Answer: The best answer is (b) Logistics Coordination. Logistics encompasses

the integration of warehousing, transportation, and distribution to achieve
efficient supply chain management.

VIII) Which factor is most critical when designing the layout of a warehouse?

a) Aesthetics

b) Distance to suppliers

c) Efficient flow of goods

d) Office space allocation

Answer: The most critical factor is (c) Efficient flow of goods. A well-designed
warehouse layout prioritizes the smooth movement of materials and
products to minimize handling and maximize efficiency.

IX) What is cycle counting in the context of warehouse inventory

management?

a) Efficient flow of goods

b) Distance to suppliers

c) Counting all items in the warehouse at the end of each day

d) Periodically counting a subset of inventory to maintain accuracy

Answer: The correct answer is (d) Periodically counting a subset of inventory

to maintain accuracy. Cycle counting involves regularly counting specific
items to ensure inventory records are accurate.

X) What is a common method for improving warehouse efficiency?

a) A method to track the life cycle of products

b) Increasing the number of staff

c) Implementing automation technologies

d) Reducing working hours

Answer: The most common method is (c) Implementing automation

technologies. Automation streamlines processes, reduces errors, and
improves overall efficiency.

QUESTION TWO (TWO MARKS)

Write TRUE for the correct statement and FALSE for incorrect statement.

Bonded warehouses are owned and operated by a company to store its own
products.

Answer: FALSE. Bonded warehouses are typically owned and operated by

customs authorities or private companies under customs supervision, used
to store imported goods until duties are paid.
Economic Order Quantity (EOQ) refers to the ideal order quantity that
minimizes the total inventory holding and ordering costs.

Answer: TRUE. EOQ is a calculation used to determine the optimal order

quantity that balances holding and ordering costs.

Cold Storage are areas designed to maintain low temperatures to preserve

perishable goods.

Answer: TRUE. Cold storage facilities are specifically designed for

temperature-sensitive items.

It is not important to have large quantities of homogeneous products in a

warehouse.

Answer: FALSE. Large quantities of homogeneous products (identical items)

can be efficiently managed in a warehouse using bulk storage and handling
techniques.

QUESTION ONE (TEN MARKS)

I) What is the primary purpose of a warehouse?

a) To manufacture goods

b) To store and manage inventory

c) To sell products to customers

d) To provide office space

Answer: The primary purpose of a warehouse is (b) To store and manage
inventory.

II) Which of the following is NOT a type of warehouse?

a) Public warehouse

b) Private warehouse

c) Contract warehouse

d) Mobile warehouse

Answer: (d) Mobile warehouse is NOT a standard type of warehouse. While

mobile storage exists, it's not a primary warehouse type like the others.

III) What is cross-docking?

a) Storing goods for long periods

b) Quickly moving goods from receiving to shipping

c) Transporting goods across countries

d) Packaging goods for retail

Answer: (b) Quickly moving goods from receiving to shipping is the definition
of cross-docking.

IV) Which inventory management technique aims to reduce holding costs by

frequently ordering smaller quantities?

a) ABC analysis
b) Economic Order Quantity (EOQ)

c) Just-in-Time (JIT)

d) First-In, First-Out (FIFO)

Answer: (c) Just-in-Time (JIT) aims to reduce holding costs by ordering only
when needed.

V) What is the purpose of a Warehouse Management System (WMS)?

a) To design the layout of a warehouse

b) To manage warehouse operations and inventory

c) To train warehouse employees

d) To create marketing strategies for the warehouse

Answer: (b) To manage warehouse operations and inventory is the primary

purpose of a WMS.

VI) What is the most common cause of accidents in a warehouse?

a) Poor lighting

b) Slips, trips, and falls

c) Heavy machinery failure

d) Manual handling of goods

Answer: (b) Slips, trips, and falls are the most common cause of accidents in
warehouses.

QUESTION 1
1. In a revolving letter of credit, suggest to a drawer what the actual invoice
would look like.

Answer: A revolving letter of credit allows a buyer to make repeated

purchases without opening a new letter of credit for each transaction. The
actual invoice would likely resemble a standard commercial invoice, but
would need to reference the specific revolving letter of credit number and
any terms outlined in it. It would include details like:

Seller's information

Buyer's information

Invoice number and date

Description of goods

Quantity

Unit price

Total amount due

Payment terms (referencing the letter of credit)

Shipping details

Any other relevant information

2. A statement regarding the carriage of goods by road or railway is called

shipping bill.

Answer: This statement is FALSE. A statement regarding the carriage of

goods by road or railway is typically called a consignment note or waybill. A
shipping bill is used for goods exported by sea or air.

3. Necessity to bring items to the named destinations and pay the insurer's
premiums.

Answer: This statement is incomplete and unclear. It likely refers to insurance

in the context of shipping. The answer would be:
TRUE, it is necessary to pay insurance premiums to cover goods during
transit to named destinations.

QUESTION 3 (20 Marks)

Mention ten (10) steps to efficiently perform customs clearance at the port of
Tanga.

Answer:

Arrival Notification: Receive notification of the vessel's arrival.

Document Preparation: Prepare all necessary documents (bill of lading,

commercial invoice, packing list, etc.).

Submission of Documents: Submit the documents to the Tanzania Revenue

Authority (TRA) Customs.

Entry Declaration: File an entry declaration with the Customs.

Payment of Duties and Taxes: Pay any applicable import duties, VAT, and
other taxes.

Verification and Inspection: Customs officers may verify documents and

inspect the goods.

Release Order: Obtain a release order from Customs.

Arrange for Transportation: Arrange for transportation of the goods from the
port.

Storage (if needed): If necessary, arrange for temporary storage in a

customs bonded warehouse.

Delivery: Arrange for delivery of the goods to the final destination.

QUESTION 4 (20 Marks)

(a) What do you understand by the term "Bill of Lading"? (5 Marks)

Answer: A Bill of Lading (B/L) is a document issued by a carrier (shipping
company, airline, or railway) to acknowledge receipt of cargo for shipment. It
serves as:

A receipt: Confirming the goods were received in good order.

A contract of carriage: Outlining the terms of transportation.

A document of title: Representing ownership of the goods.

(b) Describe three (3) importance of Bill of Lading. (15 Marks)

Answer:

Proof of Shipment: It serves as evidence that the goods were shipped and
received by the carrier.

Facilitates Trade Finance: It allows for the transfer of ownership and is used in
trade finance transactions like letters of credit.

Claim Settlement: It helps in settling claims in case of loss or damage to the

goods during transit.

QUESTION 5 (20 Marks)

Importers are expecting consumer goods from abroad. The following

proforma invoice was inspected on arrival at the port of Tanga. The following
items were listed: 2000 US dollars, 2000 Water sun heaters, 2000 customer
chairs, 2000 Office equipment. The exchange rate was 1 US dollars = 2000
Tanzania Shillings. The development levy charged at 1 US dollars. The CIF
Incoterm Other cost is 2000. Calculate:

(a) The customs value (5 Marks)

(b) The import duty rate is 10%, the VAT rate is 20% and the exchange rate
was fixed at 1 US dollars = 2000 Tanzania Shillings. Calculate the Value
Added Tax (VAT) (10 Marks)

(c) The total value of the cargo (5 Marks)

Answer:

(a) Customs Value:

Total value of goods: $2000 (given)

Development levy: $1 (given)

CIF Value: $2000 + $1 = $2001

Customs Value in TZS: $2001 * 2000 TZS/USD = 4,002,000 TZS

(b) Value Added Tax (VAT):

Import Duty: 10% of 4,002,000 TZS = 400,200 TZS

Taxable Value: 4,002,000 TZS + 400,200 TZS = 4,402,200 TZS

VAT: 20% of 4,402,200 TZS = 880,440 TZS

(c) Total Value of Cargo:

Total Value in TZS: 4,002,000 TZS (Customs Value) + 400,200 TZS (Import
Duty) + 880,440 TZS (VAT) + 2000 TZS (Other Cost) = 5,284,640 TZS

Answer that question

Let's analyze the questions in the image:

10) Commercial Invoice

Answer: This is a standard document used in international trade that details
the transaction between the seller and buyer, including the goods sold, their
quantity, price, and other relevant information.

7) Negotiable instrument passes with the carriers to cover the interest of the
client is claim by:

a) Cost Insurance and Freight

b) Letter of Credit

c) Freight Forwarder

d) Shipping Agent

Answer: (b) Letter of Credit is the correct answer. A letter of credit is a

negotiable instrument that guarantees payment to the seller if the buyer
fails to meet their obligations.

8) Cost like when taking delivery of the goods at supplier's facility is known
as:

a) Cost Insurance and Freight

b) Delivery Duty Paid

c) Clearing and Forwarding Agent

d) Inland Container Depot

Answer: (b) Delivery Duty Paid (DDP) is the correct answer. DDP means the
seller bears all the costs and risks associated with delivering the goods to the
buyer's premises, including import duties and taxes.

9) Clearing against smuggling activity and distracting customs fraud is a

duty of:

a) Cost Insurance and Freight

b) Letter of Credit
c) Freight Forwarder

d) Customs Authority

Answer: (d) Customs Authority is the correct answer. The customs authority
is responsible for preventing smuggling and fraud.

10) The Method of levying tax by percentage of the value of the imported
goods is:

a) Specific

b) Ad-valorem

c) Excise duty

d) Taxation

Answer: (b) Ad-valorem is the correct answer. Ad-valorem means "according

to value," and it's a method of levying tax based on the value of the goods.

QUESTION 2 (20 Marks)

Write TRUE for the statement that is correct and FALSE for incorrect
statement.

(i) For the statement that is not correct.

Answer: This instruction is incomplete and doesn't specify which statement

to evaluate.

(ii) Rail transport is comparatively a cheaper mode of transport for carrying

heavy and bulky traffic over long distances.

Answer: TRUE. Rail transport is often more economical for long-distance

transport of heavy goods.
(iii) To issue sea import tax compliance to the highest degree possible is a
role of TRA.

Answer: TRUE. The Tanzania Revenue Authority (TRA) is responsible for

collecting import taxes.

(iv) Import license is issued by the Tanzania Aviation Authority.

Answer: FALSE. Import licenses are usually issued by the Ministry of Industry
and Trade or a similar government agency, not the Aviation Authority.

(v) Inland container depot helps cargo owners (principal) in efficient

movement of goods to the buyers by completing a number of procedural and
documentary formalities.

Answer: TRUE. Inland container depots (ICDs) facilitate the movement of

goods by handling customs clearance and documentation

QUESTION 1 (20 Marks)

Read the following questions and made the correct letter that represent the
appropriate answer.

1. The system of allocating and load motor model transport through

containers is:

a) Packaging

b) Containerization

c) Customs procedures

d) Communication
Answer: (b) Containerization is the correct answer.

2. A document which an exporter sends to the importer informing him about

the dispatch of goods is:

a) Shipping advice

b) Broker's report

c) Mate's receipt

d) Bill of Lading

Answer: (a) Shipping advice is the correct answer.

3. Suitability for organized retail goods operate in JIT system.

a) Suitable for organized retail goods

b) Not suitable for organized retail goods

c) Flexible and ability to reach far out to customers and trans-ship the goods

d) Flexible and ability to reach for individuals or corporations

Answer: (a) Suitable for organized retail goods is the most accurate answer.
JIT (Just-in-Time) is suitable for organized retail because it relies on efficient
inventory management.

4. Freight flow procedures to be for individuals or corporations to get space

from shipping lines is called:

a) Freight Clearing

b) Freight Forwarding
c) Freight Manifest

d) Freight Handling

Answer: (b) Freight Forwarding is the correct answer. Freight forwarders act
as intermediaries between shippers and shipping lines.

5. The set-up by Tanzania Bureau of Standards in clearing and forwarding is:

a) Care linkage to minimize the government on the developed devices and

duplications

b) Promote the scope of medicines

c) Quality control of cosmetics and services

d) Improving arts, documents related to goods, accept and reject.

Answer: (d) Improving arts, documents related to goods, accept and reject.
While the wording is a bit unclear, it likely refers to the role of TBS in
ensuring compliance with standards for imported goods.

6. Shipping Bill -

a) [Incomplete question]

Since the question is incomplete, I cannot provide a definitive answer.

However, based on the context, it likely relates to the shipping bill as a
customs document for export.

QUESTION 2
(The question is not fully visible, but it seems to relate to transportation
types)

(i) ... from the state of origin is:

a) Rail Transport

b) Motor Transport

c) To place cargo

d) To import cargo

Based on the visible text, the answer is likely (a) Rail Transport, as it's often
used for long-distance transport from origin.

(ii) Inland ...

(The question is cut off, making it impossible to answer

QUESTION TWO (20 Marks)

Briefly describe five (5) importance of organizing managerial function to a

business operation.

Answer:

Efficient Resource Allocation: Organizing helps in allocating resources

(human, financial, material) effectively, minimizing waste and maximizing
utilization.

Clear Lines of Authority and Responsibility: It establishes clear hierarchies

and reporting structures, defining who is responsible for what.
Coordination and Communication: Organizing facilitates smooth
communication and coordination among different departments and
individuals.

Achievement of Goals: A well-organized structure helps in setting clear goals

and objectives, making it easier to achieve them.

Adaptability and Growth: An organized structure allows the business to adapt

to changes in the environment and facilitates future growth.

QUESTION THREE (20 Marks)

Write TRUE or FALSE on the following:

i. Chain of command, Division of work, planning are some of the 14 principles

of management by H. Fayol.

Answer: TRUE. These are indeed principles outlined by Henri Fayol.

ii. Collaboration is a very important component of effective team

management.

Answer: TRUE. Collaboration is essential for teamwork.

iii. SWOT Analysis stands for strength, weakness, opportunities, threats.

Answer: TRUE. This is the correct definition of SWOT Analysis.

iv. An effective Manager should have only mentoring skills to lead his/her
organization to success.

Answer: FALSE. An effective manager needs a range of skills, not just

mentoring.

v. Four level of management consists of CEO, Foremen, Chairperson, and

General Manager.
Answer: FALSE. This is not a standard or accurate representation of
management levels.

vi. Line and staff organizational structure provide a clear hierarchy and
reduce workload.

Answer: TRUE. Line and staff structures create a clear hierarchy and can
reduce workload through delegation.

vii. Consultative management style and Democratic management style are

similar but differ in final decision.

Answer: TRUE. They are similar in involving employees but differ in who
makes the final decision.

QUESTION FOUR (20 Marks)

Teamwork is very important in an organization because it can facilitate the

organization to reach it objective quick and this cannot be fit (6ft)
characteristics of a good team.

Answer:

The first part of the statement is TRUE. Teamwork is crucial for achieving
organizational objectives.

The second part is unclear. "Cannot be fit (6ft) characteristics of a good

team" doesn't make logical sense. It seems to be a phrase or sentence
fragment that doesn't belong.

Required: Explain five (5) characteristics of a good team.

Answer:

Clear Communication: Effective communication is essential for

understanding and coordinating tasks.

Shared Goals and Objectives: Team members should have a common

understanding of the team's goals.
Mutual Trust and Respect: Trust and respect among team members are vital
for open communication and collaboration.

Defined Roles and Responsibilities: Each member should have a clear

understanding of their role and responsibilities.

Effective Leadership: A good leader guides the team, facilitates

communication, and resolves conflicts.

QUESTION FIVE (20 Marks)

Work schedules may vary based on the nature of business, position of an

employee and season of the year. With examples, explain 5 types of a work
schedule that can be found in a working organization.

Answer:

Fixed Schedule: Employees work the same hours every day (e.g., 9 am to 5
pm, Monday to Friday). Common in office settings.

Rotating Schedule: Employees work different shifts on a rotating basis (e.g.,

day, night, swing shifts). Common in 24/7 operations like hospitals or
manufacturing.

Flexible Schedule (Flextime): Employees have core hours they must work,
but can adjust their start and finish times. Common in creative or project-
based work.

Compressed Workweek: Employees work longer hours on fewer days (e.g., 4

days, 10 hours each). Can improve work-life balance.

Part-time Schedule: Employees work fewer hours than full-time employees.

Common in retail or service industries.

Answer that question

This image shows the general instructions for an examination paper from the
Institute of Accountancy Arusha. Let's break down the information:

Key Information:

Institution: Institute of Accountancy Arusha

Department: Faculty of Business Management & Procurement

Programmes:

Ordinary Diploma in Business with Chinese Ordinary Diploma in International

Trade and Customs Management

Ordinary Diploma in Business Management (ODBM II)

Ordinary Diploma in Clearing and Forwarding (ODMC II)

Course Title: Principles of Clearing and Forwarding

Course Code: ODBM/ODMC 200300

Final Examinations

Semester: II

Academic Year: 2023/2024

Date: Wednesday, June 19, 2024

Time Allowed: 3 Hours

Paper Pages: 4 pages

General Instructions:

This examination consists of FOUR printed pages. (Confirms the page count)

There are FIVE (05) questions in this paper. (Indicates the number of
questions to be answered)

Attempt ALL FIVE (05) questions. (Emphasizes that no questions can be

skipped)
Do not write anything on the question paper. (Instructs students to use
separate answer sheets)

You are reminded to adhere to ALL Institute's Examination Regulations.

(General reminder about exam conduct)

In essence, this is a standard exam instruction sheet providing essential

details about the exam, including the subject, date, time, and guidelines for
answering the questions.

Answer that question

Let's analyze the matching question in the image:

QUESTION ONE (20 Marks)

Match the items in SECTION A with the correct response in the list B:

SECTION A SECTION B

I. Planning A. Employees given a voice in decision making

II. Communication B. Setting goals & objectives

III. Democratic management style C. Organization improves workers to work

in harmony

IV. Unity of command D. Major plan of any harmony

V. Unity of direction E. Manager has full control over decision

VI. Scalar chain F. Making

VII. Span of control G. Foreman, Managing manager

VIII. Division of work H. 14 principles of management

IX. Authority I. Decision comes from one level

X. Responsibility J. Work done by group

XI. Delegation K. Person with Authority and Responsibility

XII. Work objectives and one goal L. One objective and one goal

N. Everyone renders the same

Matching Answers:

I. Planning - B. Setting goals & objectives (Planning involves defining goals

and strategies.)

II. Communication - F. Making (Communication is essential for making things

happen in an organization.)

III. Democratic management style - A. Employees given a voice in decision

making (This style involves employee participation.)

IV. Unity of command - I. Decision comes from one level (Each employee
reports to only one manager.)

V. Unity of direction - L. One objective and one goal (All efforts directed
towards a common goal.)

VI. Scalar chain - H. 14 principles of management (Fayol's scalar chain

outlines the hierarchy.)

VII. Span of control - G. Foreman, Managing manager (Relates to the number

of subordinates a manager can supervise.)

VIII. Division of work - J. Work done by group (Specialization and efficiency

through dividing tasks.)

IX. Authority - K. Person with Authority and Responsibility (Authority is the

right to give orders.)

X. Responsibility - K. Person with Authority and Responsibility (Responsibility

is being accountable.)
XI. Delegation - N. Everyone renders the same (This option is a bit unclear
but might relate to delegation ensuring consistent work.)

XII. Work objectives and one goal - L. One objective and one goal (This is a
restatement of option L and likely refers to unity of direction.)

Answer that question

This image shows the general instructions for an examination paper from the
Institute of Accountancy Arusha. Let's break down the information:

Key Information:

Institution: Institute of Accountancy Arusha

Department: Faculty of Business Management

Course Title: Management Principles / Basic Management Principles

Course Code: MT05501/LT05207

Final Examination

Academic Year: 2023/2024

Session: II

Date: 29th June, 2024

Time Allowed: 3 Hours

Paper Pages: 3 pages

General Instructions:

This examination consists of THREE (3) printed pages. (Confirms the page
count)
There are FIVE (5) questions. Answer ALL questions. (Indicates the number of
questions to be answered and that all must be answered)

Do not write anything on the question paper. (Instructs students to use

separate answer sheets)

You are reminded to adhere to ALL Institute's Examination Regulations.

(General reminder about exam conduct)

In essence, this is a standard exam instruction sheet providing essential

details about the exam, including the subject, date, time, and guidelines for
answering the questions.

Answer that question

Let's break down the questions in the image and provide the answers:

QUESTION FIVE (20 Marks)

(a) Define National Income (5 Marks)

Answer: National Income refers to the total monetary value of all final goods
and services produced within a country's economy during a specific period,
typically one year. It represents the total income earned by the factors of
production (land, labor, capital, and entrepreneurship) in a nation.

(b) Consider the table below and answer the following questions.

Contents (Million)

Depreciation 20
Private final consumption expenditure 600

Net exports 50

Government final consumption expenditure 100

Investment consumption 70

Net factor income from abroad 10

(i) Find the value of GDP (4 Marks)

Answer: GDP (Gross Domestic Product) is calculated using the expenditure

approach:

GDP = Private Consumption + Government Consumption + Investment +

Net Exports

GDP = 600 + 100 + 70 + 50 = 820 Million

(ii) Find the value of GNP (4 Marks)

Answer: GNP (Gross National Product) is GDP plus Net Factor Income from
Abroad (NFIA):

GNP = GDP + NFIA

GNP = 820 + 10 = 830 Million

(iii) Find the value of NNP (3 Marks)

Answer: NNP (Net National Product) is GNP minus Depreciation:

NNP = GNP - Depreciation

NNP = 830 - 20 = 810 Million

(iv) Interpret the value for NFIA (2 Marks)

Answer: The Net Factor Income from Abroad (NFIA) is 10 Million. This means
that the income earned by the country's residents from investments and
assets abroad is 10 Million higher than the income earned by foreign
residents from investments and assets within the country.

(v) Interpret the value for net export (2 Marks)

Answer: The Net Exports are 50 Million. This means that the value of the
country's exports is 50 Million higher than the value of its imports. A positive
net export value indicates a trade surplus.

Answer that question

Unfortunately, the image you provided is very blurry and the text is difficult
to read. I can only make out a few fragments. To give you the best possible
answer, I need you to provide the text from the image.

However, based on the visible parts, I can see that this is a matching
question with two columns, likely labeled A and B, and some letters H, I, J, K,
L, M in one of the columns.

From what I can decipher, the columns seem to relate to:

Column A: Likely contains terms or concepts related to economics, business,
or management.

Column B: Contains definitions or explanations.

Here are some of the fragments I can see and their potential meanings
(though I cannot be certain without the full text):

H: "Strategies to reduce unemployment" (likely a match to a strategy in

column B)

I: "Surplus" (likely refers to an economic situation)

J: "Market structures" (likely a match to a description of different market

types)

K: "Arises when the level of production for goods and services increases"
(likely refers to a concept like supply or economic growth)

L: "demanded exceeds the quantity supplied in a market" (likely refers to a

concept like shortage or excess demand)

M: "The [illegible] in the [illegible] of manufacturing goods or providing

services" (likely refers to a definition of a specific industry or economic
sector)

To get a proper answer, please provide the full text from the image. If you
can type it out, I can match the terms correctly.

Answer that question

Let's analyze the questions in the image:

QUESTION THREE (20 Marks - 5 Marks Each)

(a) Communicate the theory of absolute advantage.

Answer: The theory of absolute advantage, proposed by Adam Smith, states

that a country has an absolute advantage in producing a good if it can
produce that good using fewer resources than another country. In essence, it
can produce more output with the same amount of input, or the same output
with less input.

(b) Consider two countries, A and B, producing two goods X and Y. In country
A, it takes 5 hours to produce one unit of X and 10 hours to produce one unit
of Y. In country B, it takes 8 hours to produce one unit of X and 12 hours to
produce one unit of Y. Which country has an absolute advantage in the
production of each good?

Countries Hours of Production per Unit

A 5

B 8

Answer:

Country A has an absolute advantage in producing good X (5 hours < 8

hours).

Country A also has an absolute advantage in producing good Y (10 hours <
12 hours).

(c) Suppose country A can produce 4 units of X or 6 units of Y in one hour.

Country B can produce 10 computers or 16 computers in one hour. Which
country has a comparative advantage in the production of each good?

Answer:

Country A:

Opportunity cost of 1 unit of X = 6/4 = 1.5 units of Y

Opportunity cost of 1 unit of Y = 4/6 = 2/3 units of X

Country B:

Opportunity cost of 1 computer = 16/10 = 1.6 computers

Opportunity cost of 1 computer = 10/16 = 5/8 computers

Comparative Advantage:

Country A has a comparative advantage in producing Y (2/3 < 5/8).

Country B has a comparative advantage in producing X (1.5 < 1.6).

(d) Which country has an absolute advantage in computer production?

Answer: Country B has an absolute advantage in computer production (10

computers > 4 units of X).

QUESTION FOUR (20 Marks)

(a) The quantity demanded of a product decreased from 100 units to 80 units
when the price increased from $10 to $12. Calculate the price elasticity of
demand.

Answer:

Percentage change in quantity demanded: ((80-100)/100) * 100 = -20%

Percentage change in price: ((12-10)/10) * 100 = 20%

Price elasticity of demand = |-20% / 20%| = 1 (Unitary elastic)

(b) The price of a good increased by 10%, resulting in a 20% decrease in

quantity demanded. Calculate the price elasticity of demand.

Answer:

Percentage change in price = 10%

Percentage change in quantity demanded = -20%

Price elasticity of demand = |-20% / 10%| = 2 (Elastic demand)

(c) Demand function for a product is given by Qd = 100 - 2P, and the supply
function is given by Qs = 4P - 20. Find the equilibrium price and quantity (7
marks).

Answer:

At equilibrium, Qd = Qs.

100 - 2P = 4P - 20

120 = 6P

P = 20 (Equilibrium Price)

Substitute P = 20 into either Qd or Qs:

Qd = 100 - 2(20) = 100 - 40 = 60

Qs = 4(20) - 20 = 80 - 20 = 60

Q = 60 (Equilibrium Quantity)

Answer that question

Let's analyze the matching question in the image:

QUESTION TWO (20 Marks - 2 Marks Each)

Match the questions with the correct answers:

Column A Column B

A. Structural Unemployment Answers

B. Balance of Trade A. Occurs when the quantity supplied in a market

exceeds the quantity demanded, resulting in downward pressure on prices as
producers seek to sell excess inventory.

C. Comparative Advantage B. The difference between a country's exports

and imports of goods and services.

D. Seasonal Unemployment C. The ability of a country to produce a good or

service at a lower opportunity cost than another country.

E. Unemployment Rate D. Occurs when demand exceeds the available labor

supply.

F. Demand-pull inflation E. A measure of the percentage of the labor force

that is unemployed.

G. Underemployment F. A sustained increase in the general price level of

goods and services.

G. Predictable changes that occur due to the demand for certain types of
labor based on the time of year.

H. Refers to individuals who are employed part-time or in jobs that do not

fully utilize their skill level.

I. Occurs when there is a mismatch between the skills of job seekers and the
requirements of available jobs.

J. Government policies, investments in infrastructure, and innovation aimed

at promoting job creation.

Matching Answers:
A. Structural Unemployment - I. Occurs when there is a mismatch between
the skills of job seekers and the requirements of available jobs.

B. Balance of Trade - B. The difference between a country's exports and

imports of goods and services.

C. Comparative Advantage - C. The ability of a country to produce a good or

service at a lower opportunity cost than another country.

D. Seasonal Unemployment - G. Predictable changes that occur due to the

demand for certain types of labor based on the time of year.

E. Unemployment Rate - E. A measure of the percentage of the labor force

that is unemployed.

F. Demand-pull inflation - F. A sustained increase in the general price level of

goods and services.

G. Underemployment - H. Refers to individuals who are employed part-time

or in jobs that do not fully utilize their skill level.

Answer that question

Let's analyze the multiple-choice questions in the image:

QUESTION ONE (20 Marks - 5 Marks Each)

Choose the correct answer:

1. Which of the following is NOT an assumption of economics?

A. The quantity of a good or service that consumers are willing and able to
buy at a given price.

B. The quantity of a good or service that producers are willing and able to
sell at a given price.

C. The total amount of a good or service available in the market.

D. The amount of money consumers are willing to spend on a good or

service.

Answer: C. The total amount of a good or service available in the market.

While supply is a factor in economics, the total amount isn't a core
assumption. Assumptions are more about behavior (willingness to buy/sell).

2. What causes a shift in the demand curve?

A. Changes in the price of the product.

B. Changes in the price of related goods.

C. Changes in the number of suppliers in the market.

D. Changes in consumer tastes and preferences.

Answer: D. Changes in consumer tastes and preferences. A change in tastes

or preferences alters the underlying demand for a product, shifting the entire
curve.

3. Which of the following is true about the law of supply?

A. There is an inverse relationship between price and quantity supplied.

B. There is a direct relationship between price and quantity supplied.

C. Supply is determined solely by consumer demand.

D. Supply is independent of market price or cost of production.

Answer: B. There is a direct relationship between price and quantity supplied.
The law of supply states that as price increases, quantity supplied increases.

4. What causes a shift in the supply curve?

A. Changes in consumer income.

B. Changes in technology of the product.

C. Changes in consumer tastes and preferences.

D. Changes in the price of related goods.

Answer: B. Changes in technology of the product. Technological

advancements can lower production costs, leading to increased supply at all
price points.

5. Equilibrium in the market occurs when:

A. Demand exceeds supply.

B. Supply exceeds demand.

C. The quantity demanded equals the quantity supplied.

D. The price is at its maximum.

Answer: C. The quantity demanded equals the quantity supplied. Equilibrium

is where supply and demand intersect.

Sources and related content

[Link]

[Link]

[Link]

[Link]
Answer that question

Let's analyze the multiple-choice questions in the image:

6. When the demand for a product increases while the supply remains
constant:

A. Price increases, quantity increases.

B. Price decreases, quantity decreases.

C. Price increases, quantity decreases.

D. Price decreases, quantity increases.

Answer: A. Price increases, quantity increases. An increase in demand with

constant supply leads to higher prices and a larger quantity being sold at the
new equilibrium.

7. If the government imposes a price ceiling below the equilibrium price,

what is likely to occur?

A. A shortage in the market.

B. A surplus in the market.

C. The market will become more efficient.

D. Creation of demand measures.

Answer: A. A shortage in the market. A price ceiling below equilibrium

prevents the market from reaching equilibrium, leading to quantity
demanded exceeding quantity supplied.

8. The responsiveness of quantity demanded to changes in price is:

A. The level of consumer satisfaction.

B. The ratio of quantity demanded to changes in price.

C. The level of consumer satisfaction.

D. The ratio of the following goods and services.

Answer: B. The ratio of quantity demanded to changes in price. This is the

definition of price elasticity of demand.

9. Which of the following does NOT affect demand?

A. Income of consumers.

B. Price of related goods.

C. Changes in technology of production.

D. Consumer tastes and preferences.

Answer: C. Changes in technology of production. Technology affects supply,

not demand.

10. What happens to equilibrium price and quantity when there is an

increase in demand?

A. Price increases and quantity increases.

B. Price decreases and quantity decreases.

C. Price decreases and quantity increases.

D. Price decreases and quantity decreases.

Answer: A. Price increases and quantity increases. An increase in demand

shifts the demand curve rightward, leading to higher equilibrium price and
quantity.
Sources and related content

[Link]

[Link]

[Link]

[Link]

Answer that question

Let's analyze the questions in the image:

QUESTION THREE (20 Marks)

Write TRUE or FALSE (USE CAPITAL LETTERS):

i. Delphi is a group problem-solving technique whereby managers must face

to face in order to make decisions.

Answer: FALSE. The Delphi technique involves anonymous, iterative rounds

of questionnaires and feedback, not face-to-face meetings.

ii. Risk condition is an environment whereby all available choices, potential

costs and benefits are known.

Answer: TRUE. Risk conditions involve known probabilities of outcomes.

iii. Laws and policies in business environment are imposed by external forces
such as owners of the firm and Government regulatory agencies.
Answer: TRUE. Laws and policies are imposed by external entities.

iv. In decision making, a certain identification of critical factors are relevant

to the problem and solution.

Answer: TRUE. Identifying critical factors is essential for effective decision-

making.

v. Uncertainty condition is unpredictable environment without concrete

knowledge and reliable information.

Answer: TRUE. Uncertainty involves a lack of reliable information.

vi. Formal planning guides managers with formal authority to make decisions
and use organizational resources accordingly.

Answer: TRUE. Formal planning provides a structured framework for decision-

making.

vii. Nominal is a decision-making technique which avoids undesirable effects

while planning.

Answer: FALSE. The Nominal Group Technique involves structured

brainstorming, not avoidance of planning.

viii. Displacement of rule of thumb is management principle which suggests

changes in usual practices, experiences and common sense in decision
making.

Answer: TRUE. Displacement of rule of thumb involves moving away from

relying on intuition.

ix. Teamwork allows participation and increase creativity in decision making.

Answer: TRUE. Teamwork fosters collaboration and creativity.

QUESTION FOUR (20 Marks)

Management functions are highly inseparable in nature as they affect

performance of each function. Explain at least 2 basic managerial functions
and at least 2 activities involved in each function.

Answer:

Planning:

Activities: Setting goals, developing strategies, forecasting, creating budgets.

Organizing:

Activities: Defining roles and responsibilities, structuring the organization,

delegating authority, coordinating resources.

QUESTION FIVE (20 Marks)

The failure or success of any organization is determined by how well it

utilizes its business environment to win a competitive advantage in that
industry. Explain 5 points on how an external business environment may
affect business operations negatively.

Answer:

Increased Competition: New entrants or aggressive competitors can erode

market share and profitability.

Economic Downturns: Recessions or economic instability can reduce

consumer demand and sales.

Technological Disruptions: New technologies can render existing products or

services obsolete.

Changing Regulations: New laws or regulations can increase compliance

costs or restrict business activities.

Political Instability: Political uncertainty or conflict can disrupt supply chains

or create operational challenges.
Answer that question

This image shows the general instructions for an examination paper from the
Institute of Accountancy Arusha. Let's break down the information:

Key Information:

Institution: Institute of Accountancy Arusha

Department: Department of Business Management

Programmes:

Ordinary Diploma in Business Management (ODBM II)

Ordinary Diploma in Procurement and Logistic Management (ODPLM II)

NTA Level: 6

Course Title: Principles of Economics

Course Code: BMT 06208

Final Examination

Academic Year: 2023/2024

Session: II

Date: 21st June 2024

Time Allowed: 3.00 Hour(s)

Paper Pages: 6 pages

General Instructions:

This examination consist of six printed pages. (Confirms the page count)
There are Five (05) questions in this Examination. (Indicates the number of
questions to be answered)

Attempt all questions. (Emphasizes that no questions can be skipped)

Do not write anything on the Question Paper. (Instructs students to use

separate answer sheets)

You are reminded to adhere to ALL Institute's Examination Regulations.

(General reminder about exam conduct)

In essence, this is a standard exam instruction sheet providing essential

details about the exam, including the subject, date, time, and guidelines for
answering the questions.

Answer that question

Let's analyze the matching question in the image:

QUESTION TWO

Write the correct letter from GROUP B to clarify the explanation from GROUP
A.

GROUP A GROUP B

i. A specialized branch of knowledge connected to the study of principles and

practices of basic administration. A. Human Resources

ii. Factors which are originated by the rule that the organization is located in.
B. Management

iii. They assign jobs to willing applicants to train in operations. C.

Regulations
iv. Vacancies in an organization. D. Technical skills

v. The ability to get knowledge, specific skills and experience. E. Division

of labor

vi. Managers attempt to eliminate potential conditions to the business. F.

Older

vii. Commitments to forming and implementing business participation. G.

Renewal environment

viii. Business create positive impact on society while doing business. H.

Computers

ix. Materials and people should be in positions which they are able to
cooperate well with others, empower and be sensitive to individual needs.
J. Recruitment

K. Management is task environment

L. Democratic leaders

M. Unity of direction

N. Corporate social responsibility

O. Responsibility

P. Strategic planning

R. Selection

Matching Answers:

i. A specialized branch of knowledge connected to the study of principles and

practices of basic administration. - B. Management (Management is the
study of administration.)

ii. Factors which are originated by the rule that the organization is located in.
- C. Regulations (Regulations are external factors impacting an organization.)

iii. They assign jobs to willing applicants to train in operations. - J.

Recruitment (Recruitment is the process of hiring new employees.)

iv. Vacancies in an organization. - A. Human Resources (Human Resources

handles filling vacancies.)
v. The ability to get knowledge, specific skills and experience. - D. Technical
skills (This is the definition of technical skills.)

vi. Managers attempt to eliminate potential conditions to the business. - K.

Management is task environment (Managers deal with the task environment,
which includes potential threats.)

vii. Commitments to forming and implementing business participation. - L.

Democratic leaders (Democratic leaders encourage participation.)

viii. Business create positive impact on society while doing business. - N.

Corporate social responsibility (CSR involves businesses contributing
positively to society.)

ix. Materials and people should be in positions which they are able to
cooperate well with others, empower and be sensitive to individual needs. -
O. Responsibility (This relates to the responsibility of managers to create a
positive work environment.)

Answer that question

Let's analyze the multiple-choice questions in the image:

QUESTION ONE:

Choose the most correct answer from the following sentences and write its
letter in the provided booklet.

1. Management qualities to be a social science because of the following:

A. Management involves people.

B. It involves the knowledge, skills and creativity.

C. Its activities are categorized through the actions that managers take.

D. It has a systematic body of knowledge and continuous observations.

Answer: D. It has a systematic body of knowledge and continuous

observations. Social sciences are based on systematic study and
observation, which aligns with option D.

2. Management is flexible, it changes according to situations and

environmental factors. This means management is:

A. Multidiscipline in nature

B. Dynamic in nature

C. Universal in nature

D. Dynamic in nature

Answer: B. Dynamic in nature (and also D. Dynamic in nature, as they are the
same). Management adapts to changing circumstances.

3. Management has roadblocks and setbacks which hinder effectiveness and

efficiency. It needs some good qualities to deal with challenges except:

A. Reliability and delegation

B. Integrity and sensitivity

C. Impatient and selfish

D. Clarity and management

Answer: C. Impatient and selfish. The other options are generally positive
qualities in management.

4. When a manager scans business environment, he or she is playing a role

of a:
A. Leader

B. Liaison

C. Monitor

D. Disseminator

Answer: C. Monitor. Scanning the environment is a monitoring activity.

Answer that question

You've already asked this question and I've provided the answers above. Is
there anything else I can help you with?

Answer that question

Let's analyze the multiple-choice questions in the image:

VI. Democratic leadership style entails:

A. Coaching leadership style

B. Autocratic leadership style

C. Bureaucratic leadership style

D. Consultative leadership style

Answer: D. Consultative leadership style. Democratic leadership involves
consulting with team members before making decisions.

VII. Objective should be formed or management that must have open doors
with the same opportunity to all participants by any changes among the
given targets:

A. Unity of command

B. Unity of direction

C. Result of controls

D. Esprit de corps

Answer: D. Esprit de corps. This refers to fostering a sense of unity and

teamwork within the organization.

VIII. ...are the study of human population in terms of size, division, location,
and density.

A. Demography

B. Democracy

C. Demoralization

D. Decolonization

Answer: A. Demography. Demography is the statistical study of human

populations.

IX. ...factors may affect an organization's data change lead published rules
and regulations on how to operate legally for competition.

A. Employees

B. Regulators
C. Customers

D. The owners

Answer: B. Regulators. Regulatory bodies create and enforce rules and

regulations.

X. Economic environment consists of the following factors that affect

consumer's purchasing power and spending patterns, except:

A. Income and inflation

B. Legal guidelines

C. Business cycles and interest rates

D. Per capital income and currency exchange rate

Answer: B. Legal guidelines. Legal guidelines are part of the legal/regulatory

environment, not the economic environment.

Answer that question

Let's analyze the information in the image:

INSTITUTE OF ACCOUNTANCY ARUSHA

DEPARTMENT OF BUSINESS MANAGEMENT

ODBM / ODPLM II
BMT 06211 - INTRODUCTION TO PRINCIPLES OF MANAGEMENT

PROGRESS TEST - ACADEMIC YEAR 2022/2023

DATE: 4th May, 2023

TIME ALLOWED: 2 HOURS

GENERAL INSTRUCTIONS:

This examination consists of TWO printed pages.

There are 3 questions in this paper. Attempt all.

You are reminded to adhere to ALL Institute's Examination Regulations.

QUESTION ONE

Choose the most correct answer: [USE CAPITAL LETTERS]

1. Frederick Taylor and Lillian Gilbreth were advocates of an approach to

management involving the use of scientific methods, known as:

(a) Classical management.

(b) Scientific management.

(c) Bureaucratic management.

(d) The quantitative approach.

Answer: (b) Scientific management. Frederick Taylor is considered the father

of scientific management.
2. Scalar chain refers to:

(a) Every employee should receive orders from only one superior.

(b) The line of authority from top management to the lowest ranks.

(c) Parity of authority and responsibility.

(d) Materials and people should be in the right place at the right time.

Answer: (b) The line of authority from top management to the lowest ranks.
The scalar chain refers to the hierarchical chain of command.

Answer that question

Let's analyze the questions in the image:

3. Management is not rigid or static, it is flexible in nature, it changes

according to situations and environmental changes. This statement means:

(a) Management is multidimensional.

(b) Management is a continuous process.

(c) Management is a goal-oriented process.

(d) Management is dynamic.

Answer: (d) Management is dynamic. The statement directly describes

dynamism in management.

4. The systems approach:

(a) Emphasizes the psychological and social aspects.

(b) Emphasizes the technical requirements of the organisation and its needs.

(c) Encourages managers to view the organisation both as a whole and as

part of a larger environment.

(d) Forces organizations to have technological systems in order to

accomplish organization goals.

Answer: (c) Encourages managers to view the organisation both as a whole

and as part of a larger environment. The systems approach views
organizations as interconnected systems influenced by their environment.

5. Management is an activity as:

(a) It has a well-defined and organized body of knowledge, formal education

and ethical standards.

(b) It commits of all personnel having managerial responsibilities in an

organization.

(c) It gets things done through the effort of other people.

(d) It uses a systematic body of knowledge which is connected to the study

of principles and practices.

Answer: (c) It gets things done through the effort of other people.
Management involves directing and coordinating the work of others.

QUESTION TWO

Write TRUE or FALSE: [USE CAPITAL LETTERS]

1. Division of Labour/work is management principle which determines roles

to be played by different workers basing on competencies and specialization.

Answer: TRUE. Division of labor is a core principle in management.

2. Delegating is to give responsibilities, projects and tasks in order to reduce
burden to senior managers and empowers subordinates.

Answer: TRUE. Delegating is a key management function.

3. Planning involves setting objectives and determine the course of action

required to achieve those objectives.

Answer: TRUE. Planning is about setting goals and outlining how to achieve
them.

4. Effective information flow is each employee must receive instructions from

only one person i.e. supervision.

Answer: TRUE. This describes the principle of unity of command.

5. Management theories are concepts which recommend management styles

and strategies.

Answer: TRUE. Management theories provide frameworks for effective

management.

QUESTION THREE

(a) What do you understand by the term business environment? [2 Marks]

Answer: The business environment encompasses all internal and external

factors that can influence an organization's operations, including economic,
social, technological, political, and legal factors.

(b) Explain 4 points on how micro environment can affect business

operations. [4 Marks]

Answer:

Suppliers: Changes in supplier costs or availability can impact production.

Customers: Shifts in customer demand or preferences influence sales.

Competitors: Actions of competitors can affect market share and pricing.

Employees: Employee morale, skills, and productivity impact efficiency.

(c) Managers can't always control their business environments, they just
need to be aware on some changes. With examples, explain SWOT analysis.
[4 Marks]

Answer:

SWOT Analysis: A strategic planning tool that helps organizations identify

their Strengths, Weaknesses, Opportunities, and Threats.

Example:

Strength: A company has a strong brand reputation.

Weakness: Outdated technology limits production capacity.

Opportunity: Emerging markets offer potential for expansion.

Threat: A new competitor enters the market with lower prices.

Answer that question

Let's analyze the questions in the image:

7. The following is not among the functions of Shipping line:

(a) issuing receipts and documents for custom clearance of the goods

(b) ensuring that the goods are safely packed

(c) Check and process duty and VAT payments

(d) Moving the cargo from port to discharge port

Answer: (c) Check and process duty and VAT payments. Shipping lines are
responsible for transporting goods, not for processing tax payments.

8. One of the roles of Tanzania Medicines and Medical Devices Authority is -

(a) issue import declaration certificate

(b) To issue import permission

(c) To inspect medical cargoes goes into containers

(d) None of the above

Answer: (c) To inspect medical cargoes goes into containers. The authority is
responsible for regulating medical imports.

9. An indirect tax levied on specific products, both imported and domestically

manufactured is called:-

(a) Excise duty

(b) Ad-Valorem

(c) Dumping tax

(d) Import tariff

Answer: (a) Excise duty. Excise duty is a tax on specific goods, regardless of
origin.

10. Air way bill is a transport document issued by:

(a) Shipping company

(b) Tanzania Port Authority

(c) Exporter

(d) Airlines
Answer: (d) Airlines. An air waybill is a document used for air transportation.

QUESTION 2 (20 Marks)

Write TRUE (T) or FALSE (F) against each of the following statements:

(i) Mate's Receipt is a receipt issued by the export to facilitate transport of

goods.

Answer: FALSE. A Mate's Receipt is issued by the ship's officer to

acknowledge receipt of goods on board.

(ii) Main function of IDF is to compile trade statistics.

Answer: FALSE. IDF stands for Import Declaration Form, which is used for
customs clearance, not compiling trade statistics.

(iii) Documentary collection is payment method where exporters are paid by

cash.

Answer: FALSE. Documentary collection involves banks handling documents

for payment, not direct cash payments.

(iv) An order placed by the importers to the exporters is an Indent.

Answer: TRUE. An indent is an order placed by an importer with an exporter.

(v) Consular invoice suggests to a buyer what the actual invoice would look
like.

Answer: FALSE. A consular invoice is a document certified by a foreign

government's consulate, not a suggestion of what an invoice looks like.
Answer that question

Let's analyze the questions in the image:

Write TRUE (T) or FALSE (F) against each of the following statements:

(vi) Import quota certificate describes the maximum quantity of goods

imported.

Answer: TRUE. An import quota certificate specifies the maximum amount of

a specific good that can be imported.

(vii) An invoice is an export to the receiving country.

Answer: FALSE. An invoice is a document issued by the seller to the buyer,

detailing the transaction.

(viii) A document issued by Customs authority for the purpose of determining

customs value is called customs invoice.

Answer: FALSE. A customs invoice is a document prepared by the exporter

for customs valuation.

(ix) To provide facilities relating to Harbours and provide harbour services is

the functions of Inland Container Depots.

Answer: FALSE. Inland Container Depots (ICDs) are inland facilities, not
harbour facilities.

(x) The system in which the seller's only responsibility is to make the goods
available at their premises is E-works.
Answer: FALSE. The term "E-works" is not a standard trade term. The closest
is "Ex Works" (EXW), which means the seller makes the goods available at
their premises.

QUESTION 3 (20 Marks)

MATATU Company a TZA an International Logistics company dealing with

shipping cargoes across countries. The company has recently secured
contract to forward 100 items to 666 country. Explain six (6) aspects to be
taken into account in safe alternative means of freight forwarding.

Answer:

Cost: Compare the costs of different modes of transport (sea, air, rail, road).

Time: Consider the delivery time and urgency of the shipment.

Reliability: Evaluate the reliability and track record of different carriers.

Safety: Assess the safety measures and handling procedures for the cargo.

Accessibility: Determine if the destination is easily accessible by the chosen

mode.

Cargo Characteristics: Consider the size, weight, and nature of the cargo
when choosing the mode.

QUESTION 4 (20 Marks)

(a) What do you understand by the term "Clearing and Forwarding Agent"? (5
Marks)

Answer: A Clearing and Forwarding Agent is a company or individual that

facilitates the movement of goods across borders by handling customs
clearance, documentation, and transportation logistics on behalf of importers
and exporters.

(b) Describe any five (5) roles of the Clearing and Forwarding Agent (15
Marks)
Answer:

Customs Clearance: Handling all necessary customs documentation and

procedures.

Documentation: Preparing and processing shipping documents (bill of lading,

invoices, etc.).

Transportation: Arranging for transportation of goods by sea, air, rail, or road.

Warehousing: Providing storage facilities for goods before or after shipment.

Insurance: Arranging for insurance coverage for the goods during transit.

QUESTION 5 (20 Marks)

Klaus Kichungu has ordered a new brand car from Japan for the price (CIF) of
US dollar 15,000.00. On arrive at the port of Dar es Salaam, he was required
to clear the car by paying the customs duties and taxes at the port. The
import duty rate is 25%, the VAT is 18% and the exchange rate was fixed at
Tsh. 2300.00. Dumping Duty rate 40% and Vehicle Recognition Fee was
(TSHS) 600,000.00

Calculate:

(i) Taxable value (TSH)

(ii) The Import duty amount (TSH)

(iii) The Value Added Tax (VAT) amount (TSH)

(iv) Dumping Duty amount (TSH) if applicable given that the car was
manufactured on 30th June 2011 (TSH)

(v) The total customs duties and taxes (TSH)

Answer:
(i) Taxable Value (TSH):

* CIF Value in TZS: $15,000 * 2300 TZS/USD = 34,500,000 TZS

(ii) Import Duty Amount (TSH):

* Import Duty: 25% of 34,500,000 TZS = 8,625,000 TZS

(iii) Value Added Tax (VAT) Amount (TSH):

* VAT Taxable Value: 34,500,000 TZS + 8,625,000 TZS = 43,125,000 TZS

* VAT: 18% of 43,125,000 TZS = 7,762,500 TZS

(iv) Dumping Duty Amount (TSH):

* Since the car was manufactured on June 30th, 2011, it is more than 10
years old. Dumping duty is applicable.

* Dumping Duty: 40% of 34,500,000 TZS = 13,800,000 TZS

(v) Total Customs Duties and Taxes (TSH):

* Total: 8,625,000 TZS (Import Duty) + 7,762,500 TZS (VAT) + 13,800,000

TZS (Dumping Duty) + 600,000 TZS (Vehicle Recognition Fee) = 30,787,500
TZS

Answer that question

You've already asked this question and I've provided a detailed answer
above. Is there anything else I can help you with?
Answer that question

Let's analyze the questions in the image:

QUESTION 1 (20 Marks)

Choose and Correct answer and write its letter in the bracket provided

1. The following are the advantages of road transport except one which is:

(a) There is a need to make main roads.

(b) Considerable flexible and ability to reach far out to customers

(c) Suitable for organizations which operate in JIT systems

(d) Low cost of transport

Answer: (a) There is a need to make main roads. This is a disadvantage, not
an advantage.

2. The following documents are related to goods except one which is:

(a) Proforma invoice

(b) Bill of exchange

(c) Certificate of origin

(d) Consignment Note

Answer: (b) Bill of exchange. This is a financial instrument, not a document
related to goods.

3. A document giving the packing details of goods in a prescribed format is

known as:

(a) Commercial invoice

(b) Packing list

(c) Payment note

(d) Consular invoice

Answer: (b) Packing list. This document details the contents of a shipment.

4. A document issued by a relevant government department authorizing the

import of certain controlled goods is called:

(a) Import Declaration Certificate

(b) Import license

(c) Export permit

(d) Export Declaration Form

Answer: (b) Import license. This document grants permission for importing
restricted goods.

5. The following are among the Export procedures except one which is:

(a) Dispatching of Shipping advice

(b) Preparation of Shipping invoice

(c) Securing insurance policy

(d) Securing letter of credit

Answer: (d) Securing letter of credit. Letters of credit are primarily related to
payment, not general export procedures.

6. Taxable value is commonly known as:

(a) All costs requires to bring the goods to destination

(b) Total cost of goods imported

(c) The cost of goods before charging import duties

(d) Value of goods on which duties and taxes are chargeable

Answer: (d) Value of goods on which duties and taxes are chargeable. This is
the base value used for calculating duties and taxes.

QUESTION 2 (20 Marks)

Write TRUE (T) or FALSE (F) against each of the following statements:

(i) Mate's Receipt is a receipt issued by the export to facilitate transport of

goods.

Answer: FALSE. A Mate's Receipt is issued by the ship's officer to

acknowledge receipt of goods on board.

(ii) Main function of IDF is to compile trade statistics.

Answer: FALSE. IDF stands for Import Declaration Form, which is used for
customs clearance, not compiling trade statistics.

(iii) Documentary collection is payment method where exporters are paid by

cash.

Answer: FALSE. Documentary collection involves banks handling documents

for payment, not direct cash payments.
(iv) An order placed by the importers to the exporters is an Indent.

Answer: TRUE. An indent is an order placed by an importer with an exporter.

(v) Consular invoice suggests to a buyer what the actual invoice would look
like.

Answer: FALSE. A consular invoice is a document certified by a foreign

government's consulate, not a suggestion of what an invoice looks like.

Answer that question

Unfortunately, the image is too blurry to read the text and accurately answer
the question.

To help me understand the question and provide a good answer, please type
out the text from the image.

Once you provide the text, I'll be happy to assist you!

Answer that question

This image shows the general instructions for an examination paper from the
Institute of Accountancy Arusha. Let's break down the information:
Key Information:

Institution: Institute of Accountancy Arusha

Department: Department of Business Management

Programmes:

Ordinary Diploma in Procurement and Logistics Management

Ordinary Diploma in Business Management (OPLM and ODBM II)

Course Title: Principles of Clearing and Forwarding

Course Code: BMD 06209

Final Examinations

Semester: II

Academic Year: 2022/2023

Session: II

Date: Tuesday, July 4th, 2023

Time Allowed: 3 Hours

Paper Pages: 4 pages

General Instructions:

This examination consists of FOUR printed pages. (Confirms the page count)

There are FIVE questions in this paper. (Indicates the number of questions to
be answered)

Attempt ALL questions. (Emphasizes that no questions can be skipped)

Do not write anything on the question paper. (Instructs students to use

separate answer sheets)

You are reminded to adhere to ALL Institute's Examination Regulations.

(General reminder about exam conduct)
In essence, this is a standard exam instruction sheet providing essential
details about the exam, including the subject, date, time, and guidelines for
answering the questions.

Answer that question

Let's analyze the questions in the image:

QUESTION THREE (20 Marks)

Carefully read the following statements and write the word "TRUE" for a
correct statement and the word "FALSE" for a wrong statement.

i. Innovation is the process that transforms new values into new ideas.

Answer: TRUE. Innovation involves transforming ideas into valuable

outcomes.

ii. All innovation begins with invention.

Answer: FALSE. Innovation can also involve new applications of existing

inventions.

iii. Incubation occurs when an individual is engaged in activities totally

unrelated to the subject.

Answer: FALSE. Incubation involves a period of focused development, not

unrelated activities.
iv. The overall industry attractiveness does not imply that every firm in the
industry will return the same profitability.

Answer: TRUE. Firm-specific factors also affect profitability.

v. Unexpected occurrences happen when there are unexpected users of

firm's product.

Answer: FALSE. Unexpected occurrences refer to unforeseen events.

vi. Psychological enterprise theory focuses on the psychological context.

Answer: TRUE. It deals with the psychological aspects of entrepreneurship.

vii. Anthropology is the study of the origin, development, customs, and

beliefs of a community.

Answer: TRUE. This is the definition of anthropology.

viii. Locus of control is an individual's perception about the underlying main

causes of events in his/her life.

Answer: TRUE. Locus of control is about perceived control over events.

ix. The venture life cycle is defined as the business time and its phases over
progress.

Answer: TRUE. It describes the stages of a business's development.

x. Incongruities (as one of the innovation sources) is the gap between what is
and what should be.

Answer: TRUE. Incongruities highlight discrepancies that can spark

innovation.

QUESTION FOUR (20 Marks)

DW Microfinance is a business organization engaged in the business of loans
provision to small and medium sized enterprises (SMEs) in Arusha. Recently,
the organization has received challenges from both clients and from
development partners. DW is challenged on how to assess the credit
worthiness to its clients. Explain (by giving five points) how you will advise
the organization's management on the appropriate criteria used to assess
credit worthiness.

Answer:

Credit History: Examine the client's past borrowing and repayment behavior.

Financial Statements: Analyze the client's income, expenses, assets, and

liabilities.

Business Plan: Assess the viability and potential of the client's business.

Collateral: Evaluate any assets the client offers as security for the loan.

Character: Consider the client's trustworthiness and integrity.

QUESTION FIVE (20 Marks)

When Gloria Tila opened her boutique in Karakata six years ago, she had
only one full-time employee. When Gloria has added two general partners
and greatly expanded the operation. Over the past year, it has become
obvious that the areas...

(The question is incomplete. Please provide the rest of the question for a
complete answer.)

Answer that question

Let's analyze the multiple-choice questions in the image:

vii. The potential sources of opportunity for a business include references to

those:

A. Potential risks, novelty and resources.

B. Potential value, novelty and perceived desirability.

C. Prioritize value, expenses and perceived calculated risks.

D. Prioritize value, perceived calculated risks and expenses.

Answer: B. Potential value, novelty and perceived desirability. These are key
elements that indicate a potential opportunity.

viii. There are three characteristics that distinguish entrepreneurs from small
business managers.

A. Growth targets, potential growth and strategic objectives.

B. Growth targets, innovation and creativity.

C. Operational, tactical and life experiences.

D. Operational, tactical objectives and experience.

Answer: B. Growth targets, innovation and creativity. Entrepreneurs are

typically driven by growth, innovation, and creative ideas.

ix. According to Cantillon, the entrepreneur is:

A. An individual who either takes the market risk and the recipient of profit
(the reward for bearing the costs of uncertainty).

B. An individual who assumes a risk by buying at a certain price and selling

at an uncertain price, therefore making a profit or loss.
C. An innovator who implements change within markets as a result of
carrying out new combinations.

D. An individual who identifies profit opportunities and initiates action to fill

currently unsatisfied needs.

Answer: B. An individual who assumes a risk by buying at a certain price and

selling at an uncertain price, therefore making a profit or loss. Cantillon's
definition emphasizes risk-taking in market transactions.

x. According to Schumpeter, the entrepreneur is:

A. An individual who either takes the market risk and the recipient of profit
(the reward for bearing the costs of uncertainty).

B. An individual who assumes a risk by buying at a certain price and selling

at an uncertain price, therefore making a profit or loss.

C. An innovator who implements change within markets as a result of

carrying out new combinations.

D. An individual who identifies profit opportunities and initiates action to fill

currently unsatisfied needs.

Answer: C. An innovator who implements change within markets as a result

of carrying out new combinations. Schumpeter focused on the entrepreneur
as an innovator who drives change.

Answer that question

Let's analyze the multiple-choice questions in the image:

QUESTION ONE [20 Marks]

In each of the following questions, choose the most correct answer:

i. Before a business is launched, it undergoes some form of:

A. Promotion

B. Competition and distribution

C. Networking and distribution

D. Pricing and development

Answer: D. Pricing and development. Before launch, businesses need to

determine pricing and develop their product/service.

ii. Porter five forces analysis is a framework used to:

A. Assess the general business environment for investment purposes

B. Evaluate business location

C. Analyse level of competition within an industry and develop business

strategy

D. Assess the economic situation of the target market

Answer: C. Analyse level of competition within an industry and develop

business strategy. Porter's Five Forces directly analyzes industry competition.

iii. Demographic changes occur due to changes in:

A. Population

B. Economy

C. Politics

D. Gender balance
Answer: A. Population. Demographics are about population characteristics.

iv. Objectives of a small business indicate the future of a business, but the
objectives of entrepreneurial venture are more strategic in nature, relating
to:

A. Growth targets, market share, and market position

B. Growth targets, competitive edge and market position

C. Innovation plan, growth targets and market position

D. Market share, business plan and growth targets

Answer: B. Growth targets, competitive edge and market position.

Entrepreneurial ventures focus on growth and competition.

v. Situational analysis refers to the collection of methods that are used to

analyse an organization's:

A. General and macro environment

B. Informal and external environment.

C. Task and micro environment

D. Industry and micro environment.

Answer: C. Task and micro environment. Situational analysis looks at the

immediate environment affecting the organization.

vi. Going public is the process of:

A. Selling shares to potential new investors.

B. Registering a business as private company.

Answer: A. Selling shares to potential new investors. Going public means
offering shares to the public.

Answer that question

Let's break down this import calculation step-by-step:

Exercise 1

Given Information:

Blouse cost: 300 Euros

Postage (transport cost): 40 Euros

Customs duty rate: 15%

VAT rate: 18%

Exchange rate: 3000 TZS per Euro

Customs Processing Fee: 0.6%

Railway Development Fee: 1.5%

Computations:

(i) Customs Duty

Calculate the CIF Value (Cost, Insurance, and Freight):

CIF Value = Blouse cost + Postage

CIF Value = 300 Euros + 40 Euros = 340 Euros

Convert CIF Value to Tanzanian Shillings (TZS):

CIF Value in TZS = 340 Euros * 3000 TZS/Euro = 1,020,000 TZS

Calculate the Customs Duty:

Customs Duty = 15% of CIF Value in TZS

Customs Duty = 0.15 * 1,020,000 TZS = 153,000 TZS

(ii) VAT Amount

Calculate the VAT Taxable Value:

VAT Taxable Value = CIF Value in TZS + Customs Duty

VAT Taxable Value = 1,020,000 TZS + 153,000 TZS = 1,173,000 TZS

Calculate the VAT:

VAT = 18% of VAT Taxable Value

VAT = 0.18 * 1,173,000 TZS = 211,140 TZS

(iii) Total Import Duties

Calculate the Customs Processing Fee:

Customs Processing Fee = 0.6% of CIF Value in TZS

Customs Processing Fee = 0.06 * 1,020,000 TZS = 6,120 TZS

Calculate the Railway Development Fee:

Railway Development Fee = 1.5% of CIF Value in TZS

Railway Development Fee = 0.015 * 1,020,000 TZS = 15,300 TZS

Calculate the Total Import Duties:

Total Import Duties = Customs Duty + VAT + Customs Processing Fee +

Railway Development Fee

Total Import Duties = 153,000 TZS + 211,140 TZS + 6,120 TZS + 15,300
TZS = 385,560 TZS

(iv) Total Cost of the Blouse

Calculate the Total Cost in TZS:

Total Cost in TZS = CIF Value in TZS + Total Import Duties

Total Cost in TZS = 1,020,000 TZS + 385,560 TZS = 1,405,560 TZS

Calculate the Total Cost in Euros:

Total Cost in Euros = Total Cost in TZS / Exchange Rate

Total Cost in Euros = 1,405,560 TZS / 3000 TZS/Euro = 468.52 Euros

Therefore:

(i) The customs duty: 153,000 TZS

(ii) The VAT amount: 211,140 TZS

(iii) Total Import duties: 385,560 TZS

(iv) The total cost of the blouse: 1,405,560 TZS (or 468.52 Euros)

Answer that question

Let's discuss the questions presented in the image:

QUESTIONS FOR DISCUSSION:

1. Are managerial levels and skills necessary for organizational success?

Discuss.

Yes, they are absolutely necessary. Here's why:

Structure and Hierarchy: Managerial levels create a clear chain of command,

defining roles and responsibilities. This structure is essential for coordination
and efficient decision-making.

Specialized Skills: Different managerial levels require distinct skill sets. Top-
level managers need strategic thinking and vision, middle-level managers
require people management and implementation skills, and lower-level
managers need technical and operational expertise.

Effective Resource Allocation: Managers at all levels are responsible for

allocating and managing resources (human, financial, material) effectively to
achieve organizational goals.

Communication and Coordination: Managers act as vital communication links

between different parts of the organization, ensuring information flows
smoothly.

Motivation and Leadership: Managers motivate employees, foster a positive

work environment, and provide leadership to drive performance.

Adaptability and Change: Managers are crucial in adapting to changing

market conditions and implementing organizational changes.

2. Compare and contrast managerial levels and skills in an organization.

Comparison:
Shared Goal: All managerial levels work towards achieving the organization's
overarching goals.

Interdependence: They are interconnected and rely on each other for

information and support.

Decision-Making: All levels are involved in decision-making, though the scope

and impact differ.

Contrast:

Top-Level Management (Strategic):

Skills: Strategic planning, vision, decision-making, financial acumen, external

relations.

Focus: Long-term goals, overall direction, policy formulation.

Examples: CEO, Board of Directors.

Middle-Level Management (Tactical):

Skills: People management, implementation, coordination, communication,

problem-solving.

Focus: Translating top-level strategies into actionable plans, managing

departments or teams.

Examples: Department heads, regional managers.

Lower-Level Management (Operational):

Skills: Technical expertise, task management, supervision, communication.

Focus: Day-to-day operations, ensuring tasks are completed efficiently,

supervising employees.

Examples: Supervisors, team leaders.

3. State with reasons which skills are "highly necessary", "necessary
desirable" and "less demanded" at the top level, middle level and lower level
of management. Discuss.

Top-Level Management:

Highly Necessary:

Strategic Thinking: Formulating long-term plans and adapting to complex

environments.

Decision-Making: Making critical decisions with significant impact on the

organization.

Financial Acumen: Understanding financial statements and making sound

financial decisions.

External Relations: Representing the organization to stakeholders and

building relationships.

Necessary Desirable:

Communication: Effectively communicating the organization's vision and

strategy.

Leadership: Inspiring and motivating others.

Less Demanded:

Technical Skills: While understanding the business is important, deep

technical knowledge is less critical.

Middle-Level Management:

Highly Necessary:

People Management: Leading and motivating teams, resolving conflicts.

Communication: Acting as a bridge between top and lower levels.

Problem-Solving: Addressing operational challenges and finding solutions.

Necessary Desirable:
Planning and Organizing: Implementing strategies and coordinating
resources.

Technical Skills: Understanding the operational aspects of their department.

Less Demanded:

Strategic Vision (to the same extent as top-level): While they contribute to
strategy, their focus is on implementatio

Lower-Level Management:

Highly Necessary:

Technical Skills: Proficiency in the specific tasks and processes.

Supervision: Directing and monitoring employee performance.

Communication: Giving clear instructions and providing feedback.

Necessary Desirable:

Problem-Solving: Addressing immediate issues and finding solutions.

Time Management: Organizing tasks and meeting deadlines.

Less Demanded:

Strategic Thinking: Their focus is on operational tasks, not long-term

planning.

External Relations: They have limited interaction with external stakeholders.

Let me know if you'd like me to expand on any of these points!