I apologize for the earlier misunderstanding.

Here are the complete answers to the questions

you provided:

Part A: Multiple Choice Answers:

1. c) Unity of command
2. a) Dematerialization
3. b) Measure profitability and solvency
4. a) Advertising, sales promotion, public relations, personal selling
5. d) All of the above
6. d) Greater control over operations (franchises have less control)
7. b) Rolling budget

Part B: Short Answer Answers:

8. Management is the process of planning, organizing, directing, and controlling

resources to achieve organizational goals. The four basic functions are:
○ Planning: Setting objectives and outlining steps to achieve them.
○ Organizing: Dividing work into tasks and assigning them to team members.
○ Directing: Motivating and guiding employees to perform their tasks effectively.
○ Controlling: Monitoring progress and taking corrective action as needed.
9. Internal sources of finance include retained earnings and profits, while external
sources include loans, issuing shares, and debentures. Internal sources are
cheaper but limited, while external sources offer more capital but have interest
costs and ownership dilution.
10. Advantages of sole proprietorship: Easy to start and operate, full control over
decisions, all profits belong to the owner. Disadvantages: Unlimited liability, difficulty in
raising capital, lack of continuity if the owner leaves.

Part C: Long Answer Answers:

11. Stages of the product life cycle:

○ Introduction: Launching the product, building awareness and brand recognition.
○ Growth: Rapid increase in sales and market share.
○ Maturity: Sales growth slows down as the market becomes saturated.
○ Decline: Sales fall, and the product eventually becomes obsolete.
○ Renewal/Revitalization: Some products can experience a revival stage through
innovation or marketing strategies.
12. Maslow's hierarchy of needs:
○ Physiological needs: Basic requirements like food, water, and shelter.
○ Safety and security needs: Protection from harm and stability.
○ Love and belonging needs: Connection with others and social acceptance.
○ Esteem needs: Feeling of self-respect and achievement.
○ Self-actualization needs: Fulfilling one's potential and living a meaningful life.
Application in employee motivation: Businesses can cater to different levels of needs by
offering competitive salaries and benefits for basic needs, providing safe and secure work
environments, fostering teamwork and belonging, offering opportunities for recognition and
advancement, and encouraging personal growth and development.

13. Factors affecting demand:

○ Price: Higher price generally leads to lower demand, and vice versa.
○ Income: Higher income levels often lead to higher demand for certain goods and
services.
○ Consumer preferences: Individual tastes and preferences influence demand.
○ Availability of substitutes: The availability of close substitutes can affect demand
for a particular product.
○ Marketing efforts: Effective marketing can stimulate demand through increased
awareness and interest.
14. Corporate social responsibility (CSR):
○ Fulfilling the social and environmental responsibilities of a business beyond legal
requirements.
○ Benefits include enhancing brand reputation, attracting and retaining employees,
building trust with stakeholders, and contributing to positive social change.

Impact on stakeholders: * Employees can be more motivated and engaged in a socially

responsible company. * Customers may prefer to support companies with strong CSR practices.
* Investors may be more interested in socially responsible businesses. * Communities can
benefit from the social and environmental initiatives of responsible businesses.

15. Corporate governance:

○ A system of rules, processes, and controls that ensure corporate accountability,
transparency, and fairness.
○ Aims to protect the interests of shareholders, other stakeholders, and the broader
society.
○ Significance:
■ Prevents fraud and corruption.
■ Promotes ethical business practices.
■ Builds trust and confidence in the company.
■ Enhances long-term sustainability and performance.

Remember, these are just outlines. You can further detail the answers based on your
specific needs and preferences.

Please let me know if you have any questions or need further assistance with other topics in
business studies.