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Summary Grade 10_Business Studies Summaries

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  • Course
  • Business Studies
  • Institution
  • 10th Grade

This Grade 10 Business Studies Notepad is an essential tool for any student taking the subject. It covers all TERM 1-4 of the course in an easy to understand format. The Note Set clearly outlines the topics covered in the course and provides comprehensive notes and diagrams for each topic. With its...

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Document information

  • August 7, 2023
  • 53
  • 2023/2024
  • Summary

Subjects

  • grade 10 business studies

Written for

  • 10th Grade
  • Business Studies
  • 200
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business Studies

, MICROENVIRONMENT, BUSINESS FUNCTIONS +
QUALITY
Business Environments:
Internal External environment
environment MARKET ENVIRONMENT MACRO ENVIRONMENT
MICROENVIRONMENT ⇨Operational ⇨General
[full control by company] [limited control by the [no control by the
company] company]
• Vision, mission, strategy • consumers • political
and objectives of the • competitors • economic
business enterprise • suppliers • social
• Factors of production / • civil society • technologically
resources • intermediaries • legally
Elements




Elements
• Business functions • customers / clients • environment
• Management structure • physically /
• Work environment naturally
• Culture • sociocultural &
• Image of the company demography
• international /
global
• institutional
• difficult employees • competition • changes in income
• lack of vision and mission • demographics levels
• lack of adequate • stock shortage • globalization
management skills • change in consumer • political changes
Challenges




Challenges
• trade unions preferences and • recent legislation
• stalking and stalking habits • labour
• psychographics restrictions
• socio-economic
issues
• inflation and
interest rates
Business has complete control Business has no control, but management can
influence control factors



MICROENVIRONMENT → internal environment / company itself

COMPONENTS:



VISION, MISSION STATEMENT, AIMS + GOALS
Vision → a dream that gives direction to the organisation over a long period of time [clear
& inspiring statement of what you are trying to achieve]
Strategy → the planning and actions of the top manager to achieve their vision.
Strategic vision → combine vision and strategy to provide a framework for the mission
and objectives of the organisation



2© Noted Summaries [Grade 10 > Business Studies] www.notedsummaries.co.za

,MISSION STATEMENT
→ is inspired by the vision and explains what the business does in the long term
MISSION STATEMENT → statement of core objectives of a business and an explanation of
why the business exists



OBJECTIVES (AIM) AND OBJECTIVES
Primary objective → To make a profit
Secondary objective → social upliftment




ORGANISATIONAL CULTURE – ORGANISATIONAL RESOURCES

ORGANISATIONAL CULTURE
→ refers to HOW things are done at a business [e.g., clothing] > INFLUENCED BY EMPLOYEES'
CULTURE


VALUES → may include the upliftment of disadvantaged persons and equal employment
opportunities [the moral qualities important to an organisation]
CONVICTION → an organisation feels that the employees should dress as they want so
that they can be comfortable [example] > what an organisation feels is true / acceptable


PURPOSE of a business [NOT JUST > pursue optimal profit] → to create employment
opportunities and to be involved in social uplift [Purpose → the aims or objectives of an
organisation]


ORGANISATIONAL RESOURCES
→ Resources that a business uses > effective functioning
HUMAN RESOURCES– People with knowledge and skills (workers, consultants & managers)
[LABOUR → WAGES]
PHYSICAL RESOURCES– (operating resources) everything needed to run the business
successfully [CAPITAL → INTEREST]
FINANCIAL RESOURCES– (Cash, bank overdrafts, short- and long-term loans) it is
necessary to pay purchases and expenses to run the business [ENTREPRENEURIAL →
PROFIT]
TECHNOLOGICAL RESOURCES- (Computers, voice mail and e-mail or production technology)
can give advantage over competitors but must therefore be protected by patent rights
or copyright [NATURAL → RENT]


BUSINESS MANAGEMENT - LEADERSHIP - ORGANISATIONAL
STRUCTURE
Management → The process by which an individual
provides guidance and direction so that the
organisation can achieve its objectives
Leadership → The way in which an individual can
influence the behaviour of others to achieve the
objectives of the organisation



3© Noted Summaries [Grade 10 > Business Studies] www.notedsummaries.co.za

, LEADERSHIP MANAGER
• any employee [not management • specific position in company
position] • vacant management position
• comes forward > need for guidance in • hand out assignments + ensure their
group > CHARACTER TRAIT execution
• part of team + help carry out tasks • authority to issue assignments
• inspire to carry out tasks



ORGANISATIONAL STRUCTURE
→ Way in which employees are organised in a company + describe each manager's
responsibilities & authority
TRADITIONAL > pyramids [indicate levels of enterprise]


ORGANISATION → management determines which activities are to be carried out and by
whom.


ORGANOGRAM INDICATES:
• What work is done and by whom it is done
• The relationship between different jobs and tasks (lower level, middle level or top
management)
• The coordination between different departments (e.g., human resources and
marketing management)




8 BUSINESS FUNCTIONS > ROLE + IMPORTANCE

[IMPORTANT = ENSURING THAT THE BUSINESS' GOALS ARE ACHIEVED]





4© Noted Summaries [Grade 10 > Business Studies] www.notedsummaries.co.za

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