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BSM1501 Assignment 01 Semester 01 2020 Questions and Answers
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BSM1501 Assignment 01 Semester 01 2020 Questions and Answers including page references etc.
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BSM1501Business Management 1A
Assignment 01 for Semester 01 (compulsory)
Unique Number 670231
Due: 13 March 2020
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Note that all answers are extracted from the prescribed book: “ Entrepreneurship and how to establish
your own business – sixth edition and / or the study guide.
PLEASE NOTE
Study Chapters 1 and 2 thoroughly before you answer this assignment.
MULTIPLE-CHOICE QUESTIONS
We recommend submitting your assignment online on myUnisa. You may also use a markreading
sheet to answer and submit the assignment.
Chapter 1
Questions 1 to 5. Match the following concepts in column A with the correct description in column
B.
, Answer:
1. 2)
Page 12 of the prescribed textbook:
Perseverance
Entrepreneurs have confidence in themselves and their businesses and carry on in spite of setbacks,
difficult situations and problems. They are able to take immediate decisions, but can also exercise
patience until a task has been completed and a goal reached. They do not lose heart when they make
mistakes or fail. Successful entrepreneurs have an intense determination and a need to overcome
obstacles, solve problems and complete a task. They are not intimidated by difficult situations.
2. 5)
Page 3 of the prescribed textbook:
Gross Domestic Product (GDP) is the total production of a country. The total number of services and
products supplied and produced within the borders of a country in one year is measured in financial
terms by GDP. The growth rate of GDP is an indication of how successful a country is in providing jobs
and income to its citizens.
3. 4)
Page 17 of the prescribed textbook:
Customer service
This activity is included in the marketing and administrative functions. Entrepreneurs who maintain
good human relations are aware of clients’ needs, and so provide very good customer service.
Examples are after-sales service; attention to detail, such as serving refreshments when a client visits;
personal presentability and attractive premises; user-friendliness; and having a neatly ordered shop
and clear instructions for using products. Clients remember, support and recommend a business that
meets their needs and gives them something extra without making them feel they are paying for it.
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