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MNG2602 EXAMINATION PACK UPDARED 2024 SEMESTER 1Discuss the three strategies that managers can implement to ensure that their product development efforts will result in innovative and successful new products. Explain what negotiation is. Name and discus$4.19
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MNG2602 EXAMINATION PACK UPDARED 2024 SEMESTER 1Discuss the three strategies that managers can implement to ensure that their product development efforts will result in innovative and successful new products. Explain what negotiation is. Name and discus
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Course
MNG2602 (MNG2602)
Institution
University Of South Africa (Unisa)
MNG2602 EXAMINATION PACK UPDARED 2024 SEMESTER 1
Discuss the three strategies that managers can implement to ensure that their product development efforts will result in innovative and successful new products.
Explain what negotiation is. Name and discuss the two major types of negotiation.
...
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MNG2602
Question 1 Go to the “Our Stakeholders” section on page 14 of the IAR.
Consider the stakeholders with a HIGH level of influence and a HIGH level of
interest. Classify each of these stakeholders under either the task or the general
environment of WHL. (5 marks)
General
GOVERNMENT & REGULATORS
Communities
The media
Industry organizations
Government and regulators
Academic institutions
Task
Employees
Suppliers
Customers
2.1 In the form of a table, do a SWOT analysis on this section of the report and
provide two examples of each component. (8 marks)
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Strengths
Diversified business portfolio
Strong relationships with stakeholders
Threats
Intense competition in retail industry
Ongoing challenges related to COVID-19
Opportunities
Increasing demand for online shopping
Growing middle class in Africa
Weakness
Limited physical footprint in some geographic areas
Lack of skilled employees.
2.2 Name and discuss the four essential managerial tasks that managers
perform. Provide an example (in the form of a quote) from this section of the
report for each of the four tasks to support your discussion. (8 marks)
• Planning: "The Group's strategic priorities guide investment and decision
making across the business."
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• Organizing: "We have a dedicated central team that assesses sustainability
risks and opportunities across all operations and brands, and ensures we have
systems and processes in place to manage this effectively."
• Leading: "Our Group CEO, Roy Bagattini, has focused on improving the
profitability of the business and driving growth through going back to basics,
simplifying the business, and improving execution."
• Controlling: "The Group's internal audit function plays a critical role in providing
assurance to the Audit Committee and the Board on the effectiveness of the
Group's risk management, internal control, and governance processes
Question 3
Competitive advantage is created in many ways such as:
Efficiency – reducing the quantity of resources used to produce goods or services.
For example, they devote a significant amount of energy and resources to ensure
sustainable development allowing for the changing social and environmental needs of
South Africa.
Improving quality- Ability to produce products that satisfies the market. For example,
the fact that their favourite retailer sells eggs produced by hens kept in crowded, small
cages on farms or in factories was an ethical issue for these customers.
Speed, flexibility and innovation – how fast an organisation can bring new products
to market; how easily they can change and adapt the way they perform their activities
to respond to the environment; and can they create new or improved goods and
services. For example, Woolworth educate all its employees, customers and suppliers
about responsible production and consumption.
Responsiveness to customers – particularly vital for service organisations. For
example, Woolworths, in partnership with Technoserve (an enterprise development
partner) and Qutom (Woolworths’s tomato supplier), stepped in to provide training,
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