2018 WASSCE BUSINESS MANAGEMENT

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BUSINESS MANAGEMENT ANSWERS

2(a)
A certificate of deposit (CD) is a savings certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements.


(b)
i) Property:

The possessor of the negotiable instrument is presumed to be the owner of the property contained therein. A negotiable instrument does not merely give possession of the instrument but right to property also. The property in a negotiable instrument can be transferred without any formality. In the case of a bearer instrument, the property passed by mere delivery to the transferee. In the case of an order instrument, endorsement and delivery are required for the transfer of property.


ii) Title:

The transferee of a negotiable instrument is known as holder in due course.’ A bonafide transferee for value is not affected by any defect of title on the part of the transferor or of any of the previous holders of the instrument. This is the main distinction between a negotiable instrument and other subjects of ordinary transfer. The general rule of nemo dat quod non habet does not apply to negotiable instruments.


iii) Rights:

The transferee of the negotiable instrument can sue in his own name, in case of dishonor.

A negotiable instrument can be transferred any number of times till it is at maturity. The holder of the instrument need not give notice of transfer to the party liable on the instrument to pay.


iv) Presumptions:

Certain presumptions apply to all negotiable instruments e.g. a presumption that consideration has been paid under it.


v) Prompt Payment:

A negotiable instrument enables the holder to expect prompt payment because a dishonor means the ruin of the credit of all persons who are parties to the instrument.



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3a)
A Brand name is a name given by the maker to a product or range of products, especially a trademark.


(b)

i)
Branding Creates Trust:

When a company presents themselves in a professional way, and when there is social proof that their products and service are quality, prospects will trust that company and feel more comfortable giving it their hard-earned money.

ii)
Branding Improves Recognition:

While your logo should not be the be-all-end-all of your branding efforts, you should still put the time and effort into coming up with a professionally-designed, memorable logo. Not only should your logo be memorable, it should give the desired impression of your company so when people see it, they instantly think and feel what you want them to think and feel.

iii)
Branding Supports Your Marketing Efforts:

Marketing is an important component of your brand. The mediums and channels chosen as well as the demographic targeted helps to build your brand. Be careful of too narrow of a marketing focus, or you’ll risk being “pigeon holed” and lose your ability to expand into new markets. Then again, too broad of a marketing focus could lead to an inability to create a definable impression of your company in consumers’ minds.

iv)
Branding Motivates Employees:

Anyone can hire employees, but only a strong brand can hire motivated employees that are inspired to carry your vision and mission forward. When your brand feels pride, your employees do as well. Having a strong brand is essential for employee morale and productivity.

v)
Branding Generates New Revenue:

Branding is one of the best ways to get referral or word-of-mouth business. And again, this is why it’s important that your logo, marketing, and reputation work cohesively to form an indelible impression on consumer minds. Think about it, you can’t tell your friend about the amazing golf clubs you just bought if you can’t remember the brand.



BM OBJECTIVE

1-10 BCCBBACCBD
11-20 -CCACCAC-D
21-30 DAACBBCDDB
31-40 -DC-ACAAB-
41-50 AD-BBCDBBD

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