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

The interviewer plays a crucial role prior to the interview by:

• Booking and preparing the venue for the interview.
• Informing candidates about the date and place of the interview.
• Developing a set of questions based on the skills required.
• Reviewing each candidate's CV.
• Allocating time effectively to ensure fairness in the interview process.

The method of recruitment used by MC is internal recruitment, as indicated by the scenario stating that the vacancy was advertised on their business noticeboard.

The advantages of internal recruitment for a business include:

• Quicker to fill positions as candidates are already known.
• Cost-effective since it reduces the expenses associated with external hires.
• Employees are familiar with the company culture, leading to quicker integration.

Reasons for termination may include:

• Unsatisfactory job performance or misconduct.
• Organizational changes such as layoffs or restructuring.
• Employee's decision to leave for better opportunities.

Quality indicators of the financial function may involve:

• Accurate financial records to ensure reliability.
• Timeliness in reporting financial performance.
• Regular auditing to sustain integrity in financial data.

Two ways in which TQM reduces the cost of quality are:

• Regular training sessions for employees to understand their roles in quality management.
• Collaboration with suppliers to improve the quality of raw materials.

Other ways in which TQM can reduce costs include:

• Regular review and improvement of quality systems.
• Continuous employee training to enhance skills and reduce errors.
• Adopting best practices and benchmarking against industry leaders.