Final Assessment

Unit Details	Name	Business Acumen
	Code	HI5000
	Trimester, Year	Trimester 1, 2023

 

Assessment Details	Name	Final Assessment
	Due Date	20 June, 2023
	Due Time	3.00 pm
	Weight	50%

 

Student Number
First Name
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INSTRUCTIONS

Duration	·       24 hours LATE SUBMISSIONS ARE NOT ACCEPTED
Answers	·       All responses must be entered using the answer boxes provided in this paper. DO NOT CUT AND PASTE INTO A NEW DOCUMENT
File Format	·       MS Word only.  No other format is accepted
Submission Information	·       Instructions are listed at the end of this paper and must be followed.
Academic Integrity Information	·       Holmes Institute is committed to ensuring and upholding academic integrity. All assessments must comply with academic integrity guidelines. Important academic integrity breaches include plagiarism, collusion, copying, impersonation, contract cheating, data fabrication and falsification. Violating academic integrity is serious and punishable by penalties that range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.
Penalties	·       Reference sources must be cited in the text of the assessment, and listed appropriately at the end in a reference list using Holmes Institute Adapted Harvard Referencing. Penalties are associated with incorrect citation and referencing.

 

 

 

Question 1                                                                                                            (10 marks)

Our studies taught us that the Western world’s first modern company was the East India Company, formed in the UK in 1600. At that time, the East India Company became responsible for 50% of all world trade. East India compaCompanythree important characteristics: independent legal personality; multiple shareholders; and limited liability, which it used to advantage when competing with sole domestic traders and family merchants in host countries. However, these structural benefits ‘crowded out’ the local producers and entrepreneurs leaving many of them as low-margin commodity suppliers.

India’s first prime minister observed the outcome of this inequality after independence, Jawaharlal Nehru. On December 19, 1929, Nehru wrote in the Declaration of the Independence of India:

‘The British government in India has not only deprived the Indian people of their freedom but has based itself on the exploitation of the masses, and has ruined India economically, politically, culturally, and spiritually.”

Required:

Analyse the facts presented above and make an argument both FOR and AGAINST the exploits of the East India Company. For example:

• Is it fair that multiple-shareholder, limited liability companies should have a monopoly advantage when competing in developing countries?
• should the British Government be liable to repay the wealth their companies gained in South Asia?

ANSWER: (answer box will enlarge as you enter your response)

 

 

 

 

 

 

 

 

Question 2                                                                                                            (10 marks)

The Hersey Blanchard situational leadership model suggests that leaders should have a variety of leadership styles and that they should adjust their styles using two variables, i.e. Relationship Orientation and Task Orientation. These are illustrated in four quadrants known as S1, S2, S3 & S4.

Required:

Apply this model by naming each of the four quadrants and explaining how each relates to the characteristics of the followers, for which the leader is responsible.

ANSWER:

 

 

 

 

Question 3                                                                                                            (10 marks)

We looked at Tony Robbins as an example of someone who seems to have mastered the art of goal achievement. Some of his advice was that we should try to see things as they are but not worse than they are. He pointed out that business people might sometimes fall into the trap of thinking that their situation is very bad and cannot be fixed. He believes that we have a habit of thinking our situation is worse than it is and can never get better.

He recommends the following 3 Points to Remember (or principles):

1. Do not catastrophise, do not make things worse than they are
2. The majority of situations are not hopeless; you can build a better future
3. See things as they are – and then see things better than they are

 

Required:

Apply these and other relevant principles, with examples from your own personal and/or business experience, and concerning Seligman’s Hope Academy.

ANSWER:

 

 

 

 

 

 

Question 4                                                                                                            (10 marks)

You have studied The Stages of Economic Growth by Rostow on this subject.

He claims that most of the so-called First World countries that enjoy prosperity, democracy, and stability have reached that position due to political and economic certainty and have enjoyed the growth trajectory described in his theory.

Required:

Apply Rostow’s economic development and growth theory to explain the five stages and four linkages (between stages).

ANSWER:

 

 

 

 

 

 

Question 5                                                                                                            (10 marks)

In your study of Business acumen, we discussed issues around Artificial Intelligence (AI) implementation and realised that to be successful,  AI had to become established in the ‘spokes’ of the business where the systems are used. It is also essential that the benefits of the new AI system are ‘sold’ to the Users. We learned about four initiatives management can use to increase the probability of successfully installing an AI system.

 

Required:

Explain the managerial focus and how it will be used to bring about acceptance of AI implementation, using examples discussed in this subject.

ANSWER:

 

 

 

 

 

 

END OF FINAL ASSESSMENT

Please complete the following details:

 

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	Student Number
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Submission instructions:

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  It is critical you follow this file name instruction to ensure the file belongs to you.
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Once you have checked the above:

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You have two attempts to submit your assessment with only the final submission being marked.

 

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