REVISION BOOKLET 2020 TERM 2 Grade 12

Directorate: Curriculum FET

BUSINESS STUDIES

REVISION BOOKLET 2020 TERM 2

Grade 12

This revision program is designed to assist you in revising the critical content and skills covered during the 2nd term. The purpose is to prepare you to understand the key concepts and to provide you with an opportunity to establish the required standard and the application of the knowledge necessary to succeed in the NCS examination.

The revision program covers the following topics: ? Business Sectors ? Quality of Performance ? Management & Leadership ? Investment: Securities ? Investment: Insurance ? Team Performance & Conflict Management

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INDEX PAGE

Contents 1 Business Studies Main Topics & Topics 2 Pre-Test 3 Business Sectors 4 Quality of Performance 5 Management & Leadership 6 Investment: Securities 7 Investment: Insurance 8 Team Performance & Conflict Management

Page number 2

3 - 4 5 - 6 7 - 11 12 - 14 15 - 19 19 - 22 23 - 24

BUSINESS STUDIES ? GRADE 12: MAIN TOPICS & TOPICS

Business Environment

Business Ventures

Business Roles

Business Operation

Impact of recent 1 legislation on

business 2 Devise strategies

Business sectors 3 and there

environments

4

5

Management and leadership

Investment: Securities Investment: Insurance

Professionalism and Ethics

Creative thinking

Concept of corporate social responsibility.

Human Resources function Quality of performance

Forms of ownership and their impact on the business operation Presentation of information and data response

Team performance Assessment and conflict Management Human Rights, Inclusivity and Environmental issues

Gr 12 Business Studies 2020 Term 2 - Revision

3 Learner: School:

1. Business Sectors

Pre-Test

Challenge TLS's assistant lawyers are not trained to handle criminal cases. Another law firm, Mbuzi Inc. has set up a law practice in the same office block as TLS. TLS can no longer service their bank loan due to an increase in interest rates.

Bus Environment 1.1 1.2

1.3

Extent of Control 1.4 1.5

1.6

2. Benefits of a good quality management system

2.1 Effective customer services are rendered, resulting in increased ...

2.2 Time and ... are used efficiently. 2.3 ... increases through proper time management/using high

quality resources. 2.4 Vision/Mission/Business goals may be ... 2.5 Business has a ... over its competitors. 2.6 Products/Services are constantly improved resulting in ... levels

of customer satisfaction

3. Leadership Styles

3.1 The leader allows the employees to participate in the decision making process, so they feel empowered/positive

3.2 Quick decisions can be taken without consulting/considering followers/ employees

3.3 Subordinates are experts and know what they want/can take responsibility for their actions

3.4 Encourages employees to work hard because they will receive rewards

3.5 Employees are motivated as the leader is energetic/ inspiring

3.6 Managers ensure that rules/ regulations are always followed accurately

4 4. Functions of the JSE

4.1 Gives opportunities to ... such as insurance companies to invest their funds in shares.

4.2 Serves as a barometer/indicator of ... in South Africa. 4.3 Keeps investors informed on ... by publishing the share prices daily. 4.4 Acts as a link between ... and public companies.

4.5 Shares are valued and assessed by ...

4.6 ... are invited to take part in the economy of the country through the buying/selling of shares.

4.7 Regulates the ... for dealing with shares

5. Insurance concepts

5.1 A contract between a person/business/insured requiring insurance cover and the insurance company/insurer bearing the financial risk

5.2 Occurs when property or assets are insured for less than its full market value

5.3 A stipulation set by the insurer which is applicable when property/goods is under insured/insured for less than its market value

5.4 It is a stipulation whereby the insurer may replace lost/damaged property/goods instead of reimbursing.

5.5 Applies to short term insurance, as the insured is compensated for specified/proven harm/loss.

5.6 Applies to long-term insurance where the insurer undertakes to pay out an agreed upon amount in the event of loss of life.

5.7 Insured has to be honest in supplying details when entering in an insurance contract.

5.8 Occurs when the item is insured for more than the actual market value 5.9 A clause which states that the insured is responsible for a fixed amount

of the claim, when submitting a claim. 5.10 Insured must prove that he/she will suffer a financial loss if the insured

object is damaged/lost/ceases to exist.

6. Stages of Team Development

6.1 Individuals gather information and impressions about each other and the scope of the task and how to approach it.

6.2 Different ideas from team members will compete for consideration 6.3 Roles and responsibilities are clear and accepted 6.4 All members are now competent, autonomous and able to handle the

decision-making process without supervision. 6.5 The focus is on the completion of the task/ending the project

TOTAL: 40

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1. Business Sectors

1. Name THREE types of business sectors.

? This question requires you to recall the three types of Business Sectors. ? The three types are: Primary-; Secondary- and Tertiary Sectors

? You may also be asked to identify the three types of business sectors from a scenario:

MAC FORESTRY PLANTATIONS (PTY) LTD The founders of Mac Forestry Plantations (Pty) Ltd supplies timber to Swazi Timber Ltd, who manufactures furniture. Mac Plantation (Pty) Ltd borrowed capital from Peoples' Bank to finance expansion.

Write your answers below: 1 Primary sector 2 Secondary sector 3 Tertiary sector

2. Identify business challenges from given scenarios/case studies and classify them according to the THREE business environments.

? This question requires you to respond in TWO ways

? Firstly: Identify business challenges

? Secondly: Classify the challenges according to Three Business Environment

BHEKI'S CHICKEN FARM (BCF) Bheki's Chicken Farm's employees are regularly absent on Mondays. Their suppliers of chicken feed do not deliver stock on time. The storeroom and office block of BCF was destroyed by a heavy rain.

2.1 Quote THREE challenges that BCF is facing from the scenario above.

(3)

2.2 Classify the challenges according to the THREE business environments.

(3)

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