QUESTION 3: BUSINESS OPERATIONS 3.1 State FOUR aspects that should be included in an employment contract - NSC Business Studies - Question 3 - 2021 - Paper 1

External recruitment brings new candidates who offer fresh talents, ideas, and experiences which can greatly benefit the business. This method helps to meet affirmative action goals and can widen the pool of candidates to select from. Furthermore, external recruitment generally allows a business to attract candidates with the necessary qualifications and skills which may not be available internally, thus facilitating the acquisition of suitable talent.

Quality management involves overseeing all activities and tasks needed to maintain a desired level of excellence in the production of goods and services. It encompasses the establishment of a quality policy, determining quality objectives, and arranging the roles and responsibilities necessary to achieve quality standards. The goal of quality management is to ensure that a company's products or services meet customer requirements consistently and that the organization is on par with industry standards.

1. Decline in productivity, because of stoppages.

2. The reputation of the business may suffer because of poor quality products supplied.

Poorly implemented TQM can lead to significant operational inefficiencies, such as the failure to meet customer needs. This might result in wasted resources and diminished customer satisfaction, leading to potential financial losses. Additionally, if TQM strategies are not effectively applied, it can create a lack of trust in the business from its stakeholders and clients.

The quality performance of the administration function is crucial for smooth business operations. Effective administration ensures that processes are efficiently handled, which enhances productivity and reduces errors. It also aids in proper communication across departments, fostering a collaborative environment. Good administration supports decision-making processes, enabling quicker responses to market changes and thereby contributing to the overall success of the business.

Adequate financing allows large businesses to invest in essential resources and technologies, facilitating scalability and operational efficiency. It enables them to implement quality control measures thoroughly, ensuring product reliability and customer satisfaction. Furthermore, it provides them with the flexibility to adapt to market changes and invest in research and development, ultimately driving growth and success.