Business Studies 2024 - Grade 11 Revision
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Questions and Answers

What was Betty's approach to selling her sports supplements?

  • Minimizing her sales team's involvement.
  • Prioritizing excellent customer service. (correct)
  • Avoiding customer feedback sessions.
  • Focusing on short-term profits.

Which quality did Betty display by urging her staff to dream big?

  • Risk aversion.
  • Conservative planning.
  • Indifference to goals.
  • Visionary leadership. (correct)

What did Betty offer her sales team as motivation?

  • Pay based on hourly wages.
  • High commission without a basic salary. (correct)
  • Fixed benefits without performance incentives.
  • A low commission with a high basic salary.

How often did Betty engage in meetings with her sales team?

<p>Daily for one hour. (A)</p> Signup and view all the answers

What aspect did Betty neglect while developing her business initially?

<p>Profit-focused strategies. (C)</p> Signup and view all the answers

What does the statement 'people must start small, learn from it, even if they fail' reflect?

<p>A growth mindset. (C)</p> Signup and view all the answers

Which key success factor is indicated by a business's ability to compete globally?

<p>Unique product or service. (D)</p> Signup and view all the answers

Which of the following best summarizes Betty's entrepreneurial strategy?

<p>Focusing on customer feedback to guide development. (D)</p> Signup and view all the answers

What is a critical first step Polka should take when drawing up an action plan for her business?

<p>Establish clear business goals (B)</p> Signup and view all the answers

Why are timelines important in an action plan?

<p>They provide structure for performance assessments (C)</p> Signup and view all the answers

What should be included in the steps for transforming a business plan into an action plan?

<p>Outlining necessary resources for each step (C)</p> Signup and view all the answers

What is one key aspect of project planning steps in an action plan?

<p>Assessing the productivity of operations (C)</p> Signup and view all the answers

Which of the following is NOT a reason businesses need funding?

<p>To hire unnecessary staff (D)</p> Signup and view all the answers

What is the primary purpose of a Gantt chart in business planning?

<p>To visualize project timelines and tasks (C)</p> Signup and view all the answers

Which factor is crucial for determining the choice of funding for a business?

<p>The cost of finance and risk involved (A)</p> Signup and view all the answers

What does 'productivity' refer to in a business context?

<p>The effectiveness of production per unit of input (D)</p> Signup and view all the answers

What is the primary purpose of providing handouts during a presentation?

<p>To enhance the audience's understanding of the topic (C)</p> Signup and view all the answers

How do transparencies or slides benefit a business presentation?

<p>They visualize information for better audience engagement (A)</p> Signup and view all the answers

What does the term 'net salary' refer to?

<p>Take-home salary after deductions (A)</p> Signup and view all the answers

What is meant by 'time–related salary'?

<p>Compensation for the time spent working (C)</p> Signup and view all the answers

Which of the following is a key benefit of presenting business information effectively?

<p>It helps attract and retain investors (B)</p> Signup and view all the answers

What is a key feature of a business report?

<p>It outlines factual information (A)</p> Signup and view all the answers

Which act focuses on ensuring fair treatment and workplace equity?

<p>Employment Equity Act (A)</p> Signup and view all the answers

What is the primary responsibility of the Human Resources Function (HRF)?

<p>Filling vacant positions with qualified candidates (D)</p> Signup and view all the answers

Which option is a common characteristic of flyers used by businesses?

<p>They advertise products or services (C)</p> Signup and view all the answers

What should HRF ensure regarding employees' rights?

<p>Adherence to conditions of service and labor rights (D)</p> Signup and view all the answers

In what way does effective presentation of business information support decision-making?

<p>It provides management with important market data (B)</p> Signup and view all the answers

What distinguishes verbal presentations from non-verbal presentations?

<p>Verbal presentations rely on spoken communication (A)</p> Signup and view all the answers

What does 'piecemeal related salary' indicate?

<p>Compensation linked to the amount of work completed (A)</p> Signup and view all the answers

Which aspect does the successful presentation of business information NOT focus on?

<p>Emphasizing personal storytelling (A)</p> Signup and view all the answers

What does the recruitment process primarily involve?

<p>Identifying vacant positions within the business (B)</p> Signup and view all the answers

Which of the following best describes 'conditions of service'?

<p>The terms and regulations governing employment (C)</p> Signup and view all the answers

What is a key function of trade unions in the workplace?

<p>To negotiate salaries and wages (D)</p> Signup and view all the answers

Which statement accurately describes the difference between a trade union and a workplace forum?

<p>Trade unions can sue or be sued. (D)</p> Signup and view all the answers

Which of the following is NOT a characteristic of a workplace forum?

<p>Can organize strikes (D)</p> Signup and view all the answers

What is one of the causes of conflict that might arise in a workplace as suggested in the Cheeky Chocolates scenario?

<p>Lack of communication between management and staff (C)</p> Signup and view all the answers

In what way can workplace forums contribute to resolving workplace conflicts?

<p>By fostering cooperation and consensus (D)</p> Signup and view all the answers

Which of the following is a component of job analysis?

<p>Job description (B)</p> Signup and view all the answers

Which of the following statements about recruitment methods is TRUE?

<p>Internal methods utilize current employees. (D)</p> Signup and view all the answers

How do trade unions primarily serve their members?

<p>By negotiating on behalf of employees (A)</p> Signup and view all the answers

Which source is categorized under internal recruitment?

<p>Internal e-mails, intranet, websites to staff (B)</p> Signup and view all the answers

Which of the following is a method of external recruitment?

<p>Recruitment agencies (C)</p> Signup and view all the answers

What is the primary characteristic of internal recruitment?

<p>It focuses on filling positions with current employees. (A)</p> Signup and view all the answers

Which method is associated with external recruitment?

<p>Social media, social networks, business websites (A)</p> Signup and view all the answers

Which source is specifically designed to reach candidates within the organization?

<p>Notice board of the business (B)</p> Signup and view all the answers

How does the process of external recruitment differ from internal recruitment?

<p>External recruitment seeks candidates outside the organization. (D)</p> Signup and view all the answers

Which of the following methods is NOT considered external recruitment?

<p>Internal e-mails, intranet, websites to staff (B)</p> Signup and view all the answers

What type of recruitment does networking primarily fall under?

<p>External recruitment (D)</p> Signup and view all the answers

Flashcards

Entrepreneurial Quality 1

Betty's focus on customer service exceeding profit-seeking.

Entrepreneurial Quality 2

Starting small and scaling up gradually, learning from failures.

Entrepreneurial Quality 3

Identifying market gaps and creating new products.

Entrepreneurial Quality 4

High commission for sales team motivated by market feedback.

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Entrepreneurial Quality 5

Regular market feedback sessions to inform product development and sales.

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Entrepreneurial Quality 6

Motivating a sales team to dream big for global competition.

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Key Success Factor 1

Profitability: Ensuring return on investment through financial management.

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Key Success Factor 2

Sustainability: Maintaining operations without harming the environment and community.

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Action Plan

A detailed plan with specific steps, timelines, and responsibilities to achieve business goals.

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Project Planning

The process of defining project goals, tasks, resources, and timelines.

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Gantt Chart

A visual tool used to schedule and track project tasks and timelines.

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Business Goals

Specific objectives a business aims to achieve.

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Timelines

Specific dates assigned to different project steps or tasks.

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Strategy

A long-term plan of action to achieve a goal in the business.

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Operations

Activities a business uses to achieve its goals, leading to success.

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Business Plan to Action Plan Transformation

Converting the overall goals of a business plan into a step-by-step action plan.

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Handouts

Printed information given to the audience to support a presentation.

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Transparencies/Slides

Visual aids displayed on a screen, containing data, audio, or video.

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Business Reports

Formal written documents, conveying factual information to business stakeholders.

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Flyer

A small sheet of paper used for advertising products or services by businesses.

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Business Information Importance

Provides data on market opportunities, develops strategies, and gives insights into financial performance; improves business image for investors.

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Verbal Presentation

Presentation using spoken words.

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Non-verbal Presentation

Presentation using body language, facial expressions, and other visual cues.

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Stakeholders

Individuals or groups that have an interest in a business.

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Workplace Conflict Causes

Disagreements or tensions between employees or between employees and management, often due to resource shortages, poor communication, or other issues.

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Trade Union

A group of workers who come together to represent their shared interests, typically negotiating and focusing on wages and benefits, and using activities like strikes.

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Workplace Forum

A platform (not a legal entity) for communication between staff members and managers, aiming to improve efficiency but does not cover payment.

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Conflict Management

Strategies to resolve disagreements and tensions in workplaces.

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Recruitment Procedure

The process of finding and hiring new employees.

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Job Analysis

A detailed examination of the tasks and responsibilities of a specific job.

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Job Description

A document outlining the responsibilities and tasks of a job.

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Job Specification

A document specifying the qualifications, skills, and experience needed for a job.

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Net Salary

An employee's take-home pay after all deductions.

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Piecemeal Salary

Pay based on the number of items or units produced.

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Time-related Salary

Pay based on the time spent working.

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BCEA

Basic Conditions of Employment Act

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EEA

Employment Equity Act

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COIDA

Compensation for Injuries and Disease Act

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HR Function's role

Ensuring vacant positions are filled with qualified candidates and complying with employment legislation.

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Recruitment

The business process of identifying vacant positions.

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Internal Recruitment

Finding employees within the company for open positions.

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External Recruitment

Finding employees outside the company for open positions.

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Job Description

A document outlining the tasks, responsibilities, and requirements for a job.

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Recruitment Sources

Different methods for attracting and finding potential employees.

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Selection Procedure

Steps taken to choose the most suitable candidate for a job.

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Internal Recruitment Source Examples

Examples of methods for finding employees within the company.

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External Recruitment Source Examples

Examples of methods for finding employees outside the company.

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Key Performance Areas

Specific duties and responsibilities to evaluate employee performance in a certain role.

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Study Notes

Business Studies Revision Booklet 2024 - Grade 11

  • This revision program helps students revise 3rd and 4th term content and skills
  • Purpose is to prepare students for the Final NSC examination
  • Topics covered:
    • Entrepreneurial qualities and success factors
    • Transform a Business Plan into an Action Plan
    • Start a Business Venture based on an Action Plan
    • Presentation of Business Information
    • Team Dynamics and Conflict Management
    • Introduction to Human Resource Function

Entrepreneurial Qualities and Success Factors

  • Learners should be able to outline/explain qualities of an entrepreneur
  • Identify entrepreneurial qualities from scenarios or case studies
  • Identify key success factors
  • Suggest areas for improvement, and strategies for businesses to remain profitable and sustainable
  • Key Concepts: entrepreneur, sustainability, customer base, good governance, stable workforce

Elsabe Health Products (EHP)

  • Betty, the manager of Elsabe Health Products (EHP), identified a gap in the sport supplement market by mixing and creating formulas
  • She focused on customer service instead of only profit
  • She successfully grew the business, emphasizing small steps with learning from failures
  • Key Qualities displayed by Betty: innovative, hardworking, responsible, takes calculated risks, motivated, inspirational, enthusiastic, confident

1.2 Key success factors in a business

  • Strong focus
  • Strong Customer base
  • Profitability
  • Good leadership
  • Sustainability
  • Market knowledge
  • Stable workforce
  • Unique product or service

Index Page

  • Entrepreneurial qualities and success factors: pages 2-8
  • Transform a Business Plan into an Action Plan: pages 9-16
  • Start a Business Venture based on an Action Plan: pages 17-24
  • Presentation of Business Information: pages 25-35
  • Team Dynamics and Conflict Management: pages 36-39
  • Introduction to Human Resource Function: pages 40-49

1.4 Strategies businesses can use to ensure that they remain profitable and Sustainable

  • Planning for efficiency is important
  • Sound financial management and good accounting practices
  • Effective management of resources and employees
  • Customer retention
  • Ethical business behavior (socially responsible)
  • Engage in community support

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Related Documents

2024 Western Cape Business Studies Gr 11 Revision Booklet PDF

Description

This quiz is designed for Grade 11 students to review essential Business Studies concepts in preparation for the Final NSC examination. Topics include entrepreneurial qualities, business plans, team dynamics, and human resource functions. Enhance your understanding and skills to succeed in the business landscape.

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