SBA PREP

Question 1

What is the difference between problem solving and decision making

Answer 1

Decision making
decision making is the process of choosing from several alternatives

Various alternatives are considered before deciding on the best one

Problem solving
Problem solving is the process of finding a solution to a problem

Alternative solutions are identified and evaluated

It involves analyzing the problem to identify solutions

Question 2

what the advantages of creative thinking

Answer 2

New innovative and better ideas and solutions are generated

creativity is key to staying one step ahead of competitors

complex business problems are resolved

It leads to increased productivity of the entire business

It improves motivation amongst staff members

Question 3

force field analysis and application

Answer 3

analysis
it is aimed at facilitating change in the business

Application
The business should describe the current situation and desired situation

write a plan or proposal for change in the middle

List all forces in support of the change in one column

Assign a score for each from 1 (weak) to 5 (strong)

determine if change is viable

Find ways to increase the forces for change and diminish the ones against change

come up with a strategy to help reduce the resisting forces and ensure change is done

Question 4

Name four types of strikes

Answer 4

Go slow
Symphathy strike
Lock out strike
wild cat

Question 5

Difference between public sector and private sector

Answer 5

Public

State owned/State run
Aimed at meeting the needs of society
The motive is not to make a profit but offer a service

Private

Privately owned
Aimed at meeting both needs and wants of consumers and customers
Profit driven businesses

Question 6

Reasons why competition poses a threat