3.1 Name any THREE examples of fringe benefits - NSC Business Studies - Question 3 - 2022 - Paper 1

The role of the interviewer before the interview includes several key responsibilities:

1. Booking and Preparation: Schedule the interview and ensure all necessary arrangements are made, such as the venue and time.
2. Informing Candidates: Communicate with candidates regarding the interview date and provide details about what to expect.
3. Question Development: Prepare a set of questions based on the skills, knowledge, and attributes required for the position.
4. Time Allocation: Allocate adequate time to each candidate for a fair evaluation.

The method of recruitment used by MC is internal recruitment. This is supported by the scenario which states, 'MC advertised a vacancy for a project manager on their business noticeboard.' Thus, they are likely seeking candidates from within the organization.

The advantages of internal recruitment for a business include:

1. Cost Efficiency: It reduces recruitment costs as the need for external advertising and recruitment agencies is eliminated.
2. Familiarity with the Company Culture: Internal candidates are already familiar with the company’s culture and processes, which can shorten the training and adjustment period.
3. Employee Motivation: It boosts morale and motivation among employees as they see opportunities for advancement within the organization.

Reasons for the termination of an employment contract can include:

1. Unsatisfactory Job Performance: If an employee continually fails to meet job expectations.
2. Misconduct: Involvement in activities that violate company policies.
3. Restructuring: Organizational changes that lead to redundancy.
4. Mutual Agreement: Sometimes both parties may agree to part ways for various reasons.

Quality indicators of the financial function can include:

1. Accuracy of Financial Records: Ensuring that all financial documents are timely and correctly prepared.
2. Budget Adherence: Monitoring whether actual spending aligns with the budgeted figures.
3. Return on Investment (ROI): Evaluating the profitability of investments made by the organization.

1. Regular Training Sessions: Employees of RM attend regular training sessions to enhance their understanding of quality management.
2. Collaboration with Suppliers: RM works closely with suppliers to improve the quality of their raw materials.

Additional ways in which TQM can reduce costs include:

1. Process Improvement: Constantly analyzing processes to eliminate inefficiencies or defects.
2. Employee Involvement: Empowering employees to take part in decision-making can lead to better product outcomes and innovation.

Poor implementation of TQM can lead to:

1. Inadequate Training: Employees may not receive sufficient training, resulting in subpar products.
2. Increased Errors: Lack of proper systems can lead to higher rates of defective goods.
3. Loss of Customer Trust: Customers may turn to competitors if quality does not improve, impacting profits.

An advantage of having adequate financing and capacity as part of TQM is:

1. Investment in Quality Improvements: Sufficient financial resources allow businesses to invest in technology and processes that improve product quality.