168 Questions
What does inequality refer to?
Widening wealth gap based on social status
How does poverty impact economic participation?
Diminishes consumer markets and business opportunities
What perpetuates cyclical poverty across generations?
Access to quality education and employment
Why do poverty and inequality impact businesses' operational costs?
Lead to increased crime rates and security spending
What is the main aim of inclusivity in a business context?
Fostering a skilled and equitable workforce
How does poverty restrict full participation in the economy?
By diminishing consumer markets and business opportunities
Which form of ownership is characterized by having a maximum of 10 members referred to as members?
Close Corporation (CC)
What type of business has continuity that does not depend on the involvement of any particular shareholder?
Public Company (Ltd)
Which form of ownership has a governance structure involving a board of directors elected by members?
Co-operative
What type of business requires the least complex registration process, mainly needing a trading license?
Partnership
Which form of ownership is characterized by having an unlimited joint and several liability for the partners?
Close Corporation (CC)
In which type of business must owners increase the complexity of their registration by reserving a business name and registering a founding statement?
Close Corporation (CC)
What legislation encourages businesses to reflect the demographic makeup of society in their workforce?
The Employment Equity Act
What is the definition of unemployment?
Being willing and able to work but unable to find employment
What is the primary impact of unemployment?
Reduced living standards and economic strain
What is the business impact of HIV and AIDS?
High turnover and increased healthcare costs
Which term refers to the unauthorized use of another's work infringing intellectual property rights?
Piracy
How does counterfeiting impact consumers?
Protects consumers from harmful products
What is the primary business impact of intellectual property theft?
Revenue loss potential
Which activity often funds organized crime and detracts from the regulated economy?
Illegal gambling
What do pyramid schemes primarily benefit?
Newer recruits
What is the impact of workplace violence on businesses?
Financial and human resource losses
What is one way investing in community well-being can benefit a company according to the text?
Enhance the company's reputation
Which stakeholder plays a crucial role in advocating for fair labor practices?
Trade Unions
How can businesses help reduce poverty directly?
By creating jobs
What is a key role that entrepreneurs play in economic growth according to the text?
Creating employment opportunities
Which quality among entrepreneurs allows them to identify new business opportunities effectively?
Opportunity-seeking
What is a critical trait of successful entrepreneurs according to the text?
Perseverance
How do entrepreneurs contribute to market efficiency?
By driving innovation
What group of qualities do entrepreneurs possess according to the text?
Achievement, planning, and power
What role do Trade Unions have in advocating for employee benefits according to the text?
Advocating for fair labor practices
What can businesses do to enhance their market opportunities according to the text?
Invest in the community
Which quality helps entrepreneurs set specific goals and feel in control of their business trajectory?
Visionary with Big Dreams
What quality is crucial for overcoming challenges and establishing a successful business?
Willpower to Overcome Obstacles
How do entrepreneurs ensure business success when they lack leadership and management skills?
By hiring competent managers
What term describes the financial assets provided by owners to establish and operate their business?
Capital
In terms of liability, which ownership type makes owners personally responsible for all business debts?
Sole Proprietorship
What impacts the amount of tax paid by a business?
Legal Personality
Which quality involves continuously seeking information to make informed decisions and aligning strategies with market demands?
Flexibility and Adaptability
What legal feature allows a business to have a legal identity separate from its owners?
Legal Personality
What characteristic refers to a business's capacity to continue operations despite the death, retirement, or exit of any owners?
Continuity
What is one of the key reasons entrepreneurs engage in manageable risks?
Avoid unnecessary dangers
Which form of ownership offers the least continuity as it depends on the owner's involvement?
Sole Proprietorship
In which form of ownership does management require a minimum of three directors and is heavily regulated?
Public Company (Ltd)
Which form of ownership involves a board of directors elected by members for governance?
Co-operative
Which ownership type is limited by the number of shares issued and offers limited liability to shareholders?
Public Company (Ltd)
In which form of ownership do owners have unlimited joint and several liabilities?
Co-operative
Which form of ownership requires a more complex registration process involving a memorandum of incorporation?
Public Company (Ltd)
How does cyclical poverty differ from other forms of poverty?
It perpetuates across generations.
In the context of business, how does inclusivity aim to reduce inequality?
By promoting diversity and equal opportunities.
Why does poverty impact businesses' operational costs according to the text?
It results in higher spending on security measures by businesses.
What is the primary impact of insecurity due to poverty and inequality on businesses?
Higher investment in security at the expense of business growth.
How does a focus on inclusivity in business contribute to workforce development?
By fostering a more skilled and equitable workforce.
What role does economic participation play in reinforcing societal divides, as per the text?
It contributes to a self-sustaining cycle of poverty.
What describes an entrepreneur's ability to continuously seek information to make informed decisions and align strategies with market demands?
Flexibility and Adaptability
What quality does an entrepreneur need to have a strong will to overcome obstacles and resolve problems?
Willpower to Overcome Obstacles
How are corporations and close corporations different from partnerships and sole proprietorships?
Corporations and CCs possess legal personalities.
What describes the capability of a business to continue operations despite the death, retirement, or exit of any owners?
Continuity
What impacts the amount of tax paid by a business based on the legal structure?
Tax
Which ownership type involves owners being personally responsible for all business debts and risking personal assets?
Sole Proprietorship
What feature allows a company to have a legal identity separate from its owners, enabling it to enter into contracts and be sued independently?
Legal Personality
What quality do entrepreneurs possess to create and deliver value efficiently by organizing and synergizing factors of production?
Exceptional Organizational Skills
Which quality is crucial for driving businesses forward by bringing infectious energy and passion to work?
High Energy Levels and Passion
What is a significant trait that successful entrepreneurs possess, indicating confidence in capabilities and belief in their potential for business success?
Confidence and Self-Belief
What is the impact of HIV and AIDS on businesses?
Requires continuous investment in employee training
What is the primary business impact of counterfeiting?
Enhances product quality
How does workplace violence impact businesses?
Leads to decreased insurance costs
What perpetuates cyclical poverty across generations?
Entrepreneurial initiatives
What is the main impact of illegal gambling on the economy?
Contributes to social well-being
How do strikes impact a company's reputation?
Boosts financial standing
What role do lock-outs and go-slows play in labor disputes?
Improve labor relations
What is the primary goal of corporate social responsibility initiatives?
Minimize operational expenses
What is a key characteristic of pyramid schemes?
Benefiting all participants equally
How does intellectual property theft discourage innovation?
Encourages investment in new product development
What is one of the benefits of investing in community development according to the text?
Increased spending power and demand for products and services
How can entrepreneurs contribute to economic growth according to the text?
By creating employment opportunities and driving innovation
What is a role that Trade Unions play in advocating for according to the text?
Employee benefits and fair labor practices
What is an impact of entrepreneurs identifying new business opportunities effectively?
Enhanced chances of business success and staying ahead of competitors
How can businesses reduce poverty and improve community well-being directly according to the text?
By creating job opportunities and investing in economic stability
What do entrepreneurs contribute to market efficiency through according to the text?
Driving innovation and improving market efficiency
Why is fair compensation important for employees according to the text?
To improve employee morale and productivity
How can businesses enhance their reputation, customer loyalty, and profits according to the text?
By investing in community well-being and CSR activities
What do collaborative relationships with suppliers aim to achieve according to the text?
Creating more sustainable supply chains
Why do regulatory frameworks sometimes mandate CSR activities according to the text?
To guide and ensure businesses contribute to social responsibility
What does inequality represent?
Disparities in opportunities based on social status
How does poverty impact economic participation according to the text?
By restricting full participation in the economy
What is the impact of cyclical poverty?
Perpetuates poverty across generations
How does inclusivity aim to benefit businesses?
By harnessing a wide range of skills
What is one of the security costs associated with poverty and inequality?
Increased crime rates
How does poverty impact the perpetuation of poverty across generations?
By restricting access to quality education
What is a common beneficial outcome of investing in community development?
Increased spending power and demand
What is a key role that Trade Unions play according to the text?
Supporting employee benefits and fair labor practices
What can fair compensation and benefits for employees lead to according to the text?
Improved morale and productivity
What is a primary role of the government in Corporate Social Responsibility activities?
Guiding and sometimes mandating CSR activities
What type of investment scams promise high returns but primarily benefit those at the top at the expense of newer recruits?
Pyramid Schemes
How can entrepreneurs contribute to economic growth according to the text?
By driving innovation and creating jobs
What is an essential characteristic of successful entrepreneurs?
Persistence in pursuing business goals
What type of unethical activity obscures the origins of illicitly obtained money, undermining economic stability and legal business operations?
Money Laundering
How do entrepreneurs help improve market efficiency?
Through competition and innovation
Which scenario leads to reduced living standards, economic strain, and increased dependence on social welfare programs?
Unemployment
What increases dependency on social welfare systems and heightens social issues like crime and poverty?
Unemployment
What is a crucial outcome of businesses investing in employment creation?
Reduced poverty
How do entrepreneurs distinguish themselves according to the text?
By identifying and seizing new business opportunities
What can disrupt daily operations, increase insurance costs, and lead to investment in security measures for businesses?
Strikes
Which activity refers to the illegal production and sale of alcoholic drinks or recording media?
Bootlegging
What is one important way trade unions contribute to the business environment?
Advocating for fair labor practices
What refers to the unauthorized use or reproduction of another's work that infringes on intellectual property rights?
Piracy
Which business activity deters investment in new product development due to potential revenue loss from intellectual property theft?
Innovation Discouragement
Which form of unethical activity protects consumers from substandard and potentially harmful products?
Counterfeiting
Which condition can increase healthcare costs, reduce labor productivity, and necessitate continuous investment in employee training due to high turnover?
HIV and AIDS
Which form of ownership involves owners who are limited to a maximum of 10 members known as members?
Close Corporation
In which form of ownership is continuity limited and heavily depends on the partnership agreement?
Close Corporation
Which form of ownership requires a minimum of three directors and is subject to heavy regulation?
Public Company
In which form of ownership is the management solely handled by the owner?
Sole Proprietorship
Which form of ownership requires reserving a business name and registering a founding statement for establishment?
Close Corporation
Which ownership type offers limited liability for shareholders but involves a more complex registration process?
Private Company
What is a common characteristic of successful entrepreneurs according to the text?
Profound confidence in their capabilities
Which form of ownership involves owners being legally indistinguishable from the business itself?
Company with legal personality
What quality is crucial for entrepreneurs to continuously adapt their strategies to align with market demands?
Flexibility and adaptability
Which factor describes a business's capacity to continue operations despite changes in ownership?
Continuity
What is the primary determinant of the amount of tax a business pays based on its legal structure?
Liability type
What term describes an entrepreneur's ability to bring infectious energy and passion to their work?
High energy levels and passion
Which type of ownership involves owners being personally responsible for all business debts and risking personal assets?
Sole proprietorship
Which quality is crucial for establishing and sustaining a successful business in the face of challenges?
Confidence and self-belief
What is the primary focus of entrepreneurs who dream big and have clear visions for their businesses?
Setting specific goals
Which ownership type ensures owners are only responsible for the amount they invest in the business and not for additional debts?
Close corporation with legal personality
What does poverty restrict, causing a decrease in consumer markets and business opportunities?
Participation in the economy
Which cost, stemming from poverty and inequality, often leads to increased crime rates and higher security spending by businesses?
Security costs
What is the primary goal of aiming for inclusivity in a business context?
To reduce inequality and reinforce a diverse workforce
What perpetuates poverty across generations according to the text?
Restriction of education and employment
In a business context, what does inclusivity aim to harness by embracing diversity?
A wide range of skills and perspectives
How do poverty and inequality impact business operations as per the text?
By increasing crime rates and security spending
Which form of ownership is managed solely by the owner?
Sole Proprietorship
In which form of ownership is continuity not dependent on any particular shareholder?
Public Company (Ltd)
Which type of business involves a board of directors elected by the members for governance?
Co-operative
In which form of ownership is there unlimited joint and several liability for the owners?
Partnership
Which form of ownership is characterized by having a maximum of 10 members?
Close Corporation (CC)
Which form of ownership requires reserving a business name and registering a founding statement?
Co-operative
What does the Employment Equity Act encourage businesses to do?
Take into account the demographic makeup of society
What is the primary impact of unemployment according to the text?
Escalating social issues like crime and poverty
What do entrepreneurs do to contribute to economic growth, according to the text?
Reduce unemployment through job creation
What term describes the unauthorized use or reproduction of another's work that infringes on intellectual property rights?
Piracy
How do entrepreneurs stay ahead of competitors and increase profitability?
By pursuing business opportunities proactively
Which activity involves producing imitation products intended to be passed off as genuine?
Counterfeiting
What distinguishes entrepreneurs when identifying and seizing new business opportunities?
Combining creativity and insight effectively
What does workplace violence typically include?
Theft, fraud, and physical confrontations
What impact does crime have on businesses according to the text?
Disrupts daily operations
What is essential for entrepreneurs to continuously seek and capitalize on business opportunities effectively?
Persistent perseverance
How do entrepreneurial opportunities relate to a thriving business according to the text?
They lead to increased spending power and demand
What is a common feature of pyramid schemes?
Benefitting newer recruits at the expense of top-level participants
Why do entrepreneurs need to manage various resources effectively according to the text?
To generate profit
What type of investment scams promise high returns to participants?
Ponzi schemes
How do entrepreneurs affect market efficiency?
By driving innovation and increasing competition
What do strikes reflect, according to the text?
Employee grievances
What is a key role of entrepreneurs in improving economic growth according to the text?
Driving innovation and creating employment opportunities
What is the business impact of HIV and AIDS as discussed in the text?
Increases employee training costs
Why is perseverance crucial for entrepreneurs according to the text?
To overcome challenges and pursue business goals
What is a significant trait of successful entrepreneurs as per the text?
Consistent perseverance to overcome hurdles
What is the primary role of entrepreneurs in driving change and societal advancement through their businesses?
Generating employment and innovation
Which form of ownership allows owners to only be responsible for business debts up to the amount they have invested?
Corporations
What is the primary factor determining the amount of tax paid by a business based on its legal structure?
Legal form of the business
Which quality is essential for establishing and sustaining a successful business and is highlighted in overcoming obstacles?
Strong willpower
What characteristic allows companies to have a legal identity separate from their owners to enter into contracts independently?
Legal personality
What is the primary outcome of entrepreneurs embracing the responsibility that comes with running a business?
Efficient business operations
Which term refers to a business's capability to continue its operations despite owners' deaths, retirements, or exits?
Continuity
What is the quality that defines entrepreneurs' ability to synergize factors of production and deliver value efficiently?
Exceptional organizational skills
Which group of ownership types are legally indistinguishable from their owners, leading to joint responsibility for all business debts?
Sole proprietorships and partnerships
What is the primary factor determining the business tax rate paid by corporations compared to sole proprietorships?
Legal structure of the business
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