NZQA Business Management Assignment Sample Answers

Assignment Tasks

You are expected to complete this assessment using examples, and experiences from your own business workplace. This approach ensures the assessment reflects real-world application and meets NZQA requirements.

If you do not have a business workplace or are unable to apply the requirements of this assessment to your workplace, you may use a business you are familiar with.

Task 1: Marketing Practices (LO3)

a) Research key marketing practices used in a New Zealand business.

Compare and contrast two (2) marketing practices used by the business.

In your answer, you must:

• compare and contrast the two (2) marketing practices by discussing similarities and differences
• explain how each practice enhances business performance
• support your answer with relevant examples from the business
• provide a minimum of two (2) credible sources to support your research

(14 marks – 6 marks for comparing and contrasting, 2 marks for explaining how each enhances business performance, 2 marks for examples and 2 marks for credible sources)

b) Using examples in a New Zealand business, justify why it is important for a successful manager to use a range of good marketing practices. (A minimum of two (2) examples are to be provided).

Task 2:  Sales Practices (LO3)

Research key sales practices used in a New Zealand business.

Compare and contrast two (2) of these practices.

In your answer, you must:

• compare and contrast the two (2) sales practices by discussing similarities and differences
• explain how each practice enhances business performance
• support your answer with relevant examples from the business
• provide a minimum of two (2) credible sources to support your research

Task 3:  HR Management Practices (LO4)    

 a) Analyse two (2) HR management practices used by New Zealand businesses.

In your answer, you must:

• explain how the key features of each practice lead to its advantages and disadvantages
• include at least two (2) advantages and one (1) disadvantage for each practice
• explain how these advantages and disadvantages affect business performance

b) Justify why it is important for a manager of a New Zealand business to be aware of any changes in legal requirements related to HR management and the risks that could occur. Two (2) examples from a workplace are required.

Task 4:  Risk Management Practices (LO4)

Analyse two (2) risk management practices used by New Zealand businesses.

In your answer, you must:

• explain how the key features of each practice lead to its advantages and disadvantages
• include at least two (2) advantages and one (1) disadvantage for each practice
• explain how these advantages and disadvantages affect business performance

Experts Answer on Above Business Management Questions

Selected business – The Warehouse Group

Comparison of two marketing practices

The marketing practice 1 is everyday low pricing (EDLP) strategy that aims at offering products and services at affordable prices throughout the year, and thereby appeals to the New Zealand householders to make their purchases effectively. The second marketing practice is MyRewards loyalty program that offers personalised discounts, and rewards customers on the basis of their purchasing behaviour. The objective of these marketing strategies are to attract new customers and retain existing ones, increase the customer traffic and strengthen customer loyalty.
These strategies are also effective in enhancing business performance as they increase the sales volume and market competitiveness of the business.

Importance of using multiple marketing practices

Multiple marketing practices are essential for businesses because a single marketing practice cannot satisfy all the customer needs and requirements. For example, The Warehouse utilises social media marketing along with MyRewards program in order to attract new shoppers.

Sales practices

The two sales practices chosen for analysis at The Warehouse New Zealand are omnichannel sales and cross-selling. The omnichannel sales strategy allows customers to make purchases online through the website of the company and collect products from its physical stores, while the cross-selling strategy aims at targeting customers with other related products. For example, a customer who buys a laptop is targeted for accessories like laptop bags, wireless mice. The aim of both these strategies are to increase sales revenue and improve customer experience.
The business performance noted in respect to The Warehouse New Zealand from these sales strategies are increasing sales revenue and improved customer experience.

HR management practices

The first HR management practice selected is employed training and development and the second one is health, safety and wellbeing program. The employee training and development contribute positively towards improvement in employee skills and productivity, and thereby supports innovation and workplace safety. Its business impact is positive in terms of improved production quality and operational efficiency. The health, safety and wellbeing program helps in reducing workplace accidents, and improves employee morale and retention. A safer workplace contributes positively in terms of reduction in employee absenteeism and legal risk while improving organisational performance.

Importance of legal awareness

It is important for the managers to remain aware of New Zealand employment legislation in order to avoid any kind of legal penalties and ensure compliance with fair employment practices. For example, changes to the minimum wage rate requires adjustments to be made in the payroll in order to remain compliant.

Risk management practices

The risk management practices selected for analysis are health and safety risk assessments, and cyber security and data protection. The advantage of Health and safety risk assessments include proper prior identification of any workplace hazards that leads to appropriate measures aimed at restricting any incidents, and it also protects employees and reduces legal liabilities. With respect to cyber security and data protection, it protects customers and business information, and also reduces any kind of financial losses from cyber attacks.

Want Detailed Answers with References?

The entire analysis indicates that The Warehouse Group effectively manages its marketing, sales, HR and risk management practices, and they in turn contribute towards sustainable business performance in New Zealand. With our NZ management experts, you can also get a similar kind of analysis done on any company, with respect to its important business practices, and how it affects its business performance. Simply visit our New Zealand assignment help page to get a professional management assignment expert for your assignment. You can also access the University of Otago assignments answers from different subjects solved by our experts to improve your learning.