Via Afrika Business Studies

Via Afrika Business Studies

Grade 10 Study Guide

T.D. Kotze E.L. Llewellyn, P. Bean, M. Kleyn, A. Marx, T.R. Maliehe

T. Kotze

Study Guide

Business Studies

Grade 10

ISBN: 978-1-41546-300-0

Contents

Introduction to Business Studies .......................................................................... 1

Term 1

Topic 1 The micro environment ........................................................................... 2 OVERVIEW .............................................................................................................. 2 Unit 1 Components of the micro environment ...................................................... 3 Unit 2 Eight business functions ......................................................................... 6 Unit 3 Functions in the business .......................................................................15 Unit 4 General management ............................................................................ 16 Unit 5 The concept of quality.............................................................................17 Unit 6 Management and the success of business .............................................. 18 Questions ......................................................................................................... 19 Answers ............................................................................................................ 23

Topic 2 The market environment ....................................................................... 28 OVERVIEW ............................................................................................................ 28 Unit 1 The market: customers and consumers.................................................... 28 Unit 2 Suppliers and intermediaries................................................................. 29 Unit 3 Competitors ...........................................................................................31 Unit 4 Civil society ...........................................................................................31 Questions ......................................................................................................... 34 Answers ............................................................................................................ 36

Topic 3 The macro environment ........................................................................ 38 OVERVIEW ............................................................................................................ 38 Unit 1 The physical/natural environment .......................................................... 39 Unit 2 Economic environment .......................................................................... 39 Unit 3 The social, cultural and demographic environment.................................. 40 Unit 4 The technological environment .............................................................. 40 Unit 5 Legal and political environment ............................................................. 42 Unit 6 The international environment ............................................................... 43 Unit 7 The institutional environment ................................................................ 44 Questions ......................................................................................................... 45 Answers ............................................................................................................ 47

Topic 4 Interrelationship of micro, market and macro environments ................... 49 OVERVIEW ............................................................................................................ 49 Unit 1 The relationship of the three environments ............................................. 50 Unit 2 How do they relate?................................................................................51 Unit 3 How do micro-and market environments relate?...................................... 52 Questions ......................................................................................................... 53 Answers ............................................................................................................ 54

Topic 5 Business sectors .................................................................................. 56 OVERVIEW ............................................................................................................ 56 Unit 1 Primary, secondary and tertiary sectors ................................................... 57 Unit 2 The difference between the formal and informal sectors .......................... 59 Unit 3 The difference between public and private sectors .................................. 60 Questions ......................................................................................................... 61 Answers ............................................................................................................ 62

Term 2

Topic 1 Contemporary socio-economic issues .................................................... 65 OVERVIEW ............................................................................................................ 65 Unit 1 Poverty, inequality, inclusivity, unemployment and HIV/Aids.................... 66 Unit 2 Piracy, counterfeiting and bootlegging....................................................68 Unit 3 Gambling, violence, crime ..................................................................... 69 Unit 4 Strikes, labour disputes and political disturbances..................................71 Questions ......................................................................................................... 72 Answers ............................................................................................................ 74

Topic 2 Social responsibility............................................................................. 77 OVERVIEW ............................................................................................................ 77 Unit 1 What is social responsibility?.................................................................. 78 Unit 2 What can businesses do?....................................................................... 78 Questions ......................................................................................................... 80 Answers ............................................................................................................ 81

Topic 3 Entrepreneurial qualities .................................................................... 82 OVERVIEW ............................................................................................................ 82 Unit 1 What is an entrepreneur? ........................................................................ 83 Unit 2 The qualities of an entrepreneur ............................................................ 86 Questions ......................................................................................................... 86 Answers ............................................................................................................ 87

Topic 4 Forms of ownership .............................................................................. 88 OVERVIEW ............................................................................................................ 88 Unit 1 Forms of ownership vocabulary ............................................................... 89 Unit 2 Characteristics....................................................................................... 91 Unit 3 Advantages and disadvantages of different forms of ownership............... 96 Questions ......................................................................................................... 99 Answers ...........................................................................................................103

Term 3

Topic 1 Creative thinking and problem-solving .................................................107 OVERVIEW ...........................................................................................................107 Unit 1 Creative thinking .................................................................................. 108 Unit 2 Entrepreneurial opportunities............................................................... 109 Questions ........................................................................................................ 114 Answers ........................................................................................................... 116

Topic 2 Business opportunities ....................................................................... 118 OVERVIEW ........................................................................................................... 118 Unit 1 Identifying business opportunities ......................................................... 119 Unit 2 The research process ........................................................................... 120 Unit 3 Business opportunities ? needs and desires..........................................122 Questions ........................................................................................................123 Answers .......................................................................................................... 124

Topic 3 Business location decisions................................................................ 126 OVERVIEW .......................................................................................................... 126 Unit 1 Where to position your business ............................................................127 Questions ........................................................................................................130 Answers ...........................................................................................................132

Topic 4 Contracts............................................................................................134 OVERVIEW ...........................................................................................................134 Unit 1 Types of contracts .................................................................................134 Unit 2 Legal implications of contracts ..............................................................136 Questions ....................................................................................................... 138 Answers .......................................................................................................... 140

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