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Summary Grade 11 BUSINESS STUDIES Paper 2 June Exam 2024 STUDY NOTES CA$10.35   Add to cart
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Summary Grade 11 BUSINESS STUDIES Paper 2 June Exam 2024 STUDY NOTES
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  • Course
  • Business Studies
  • Institution
  • 11th Grade

Previous examination papers were used to compile these notes, @IMPAQ JUN 2022, 2021/ DBE NW/June 2019. Content: 1. BUSINESS VENTURES 2. BUSINESS ROLES • Benefit of a company over other forms of ownership • Avenues of acquiring a business • Creative thinking and problem-solving �...

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  • April 1, 2024
  • 34
  • 2023/2024
  • Summary

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  • grade 11 business studies

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  • Business Studies
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Grade 11
BUSINESS
STUDIES
Paper 1
June Exam
2024
Previous examination papers were used to compile these notes, @IMPAQ JUN 2022, 2021/ DBE
NW/June 2019. These are just proposed responses from the memoranda. Some information is
repeated, I want you the various ways show the same information is asked.

I encourage you to answer the calculation/illustration questions without looking at the answers
first.

Good luck. Juffrou Ansie
Content:

• Influences on business environments
• Challenges of the business environment
• Adapting to challenges of the business environment
• Contemporary socio- economic issues
• Business sectors
• Production function
• Marketing function

A trade union A trade union’s main function is to negotiate on behalf of the employees
for better pay and conditions.
Lobbying A process where a business intentionally sends out a representative to
influence high-level decision-makers on certain aspects affecting the
business is called lobbying.
Micro lending Micro lending refers to granting small loans to people who cannot get
credit from banks.
Intermediaries Intermediaries operate in the market environment of the economy.
Micro A business has complete control over this environment.

@ Juffrou_Ansie

, 2


Globalisation Globalisation refers to the movement between countries of more
people, goods, capital, and ideas.
An acquisition An acquisition takes place when one business buys another business.
An alliance An alliance is a traditional way of a group of interested parties getting
together and sharing resources, infrastructure, and costs, to achieve a
better outcome.
Nepotism The practice of showing favouritism towards one’s family members or
friends in economic or employment
Labour Relations Act A mechanism to ensure sound labour relations which contributes
towards the success of businesses.
Economic dilemma Balancing the unlimited needs and wants of society with the limited
resources available to satisfy them.
Dumping Balancing the unlimited needs and wants of society with the limited
resources available to satisfy them.
Labour restrictions This government initiative makes it difficult to import skills
internationally but rather encourages businesses to employ locally
Strategic response Management must make strategic plans to remain sustainable in a
competitive market.
Takeovers The purchasing of a company (target) by another company (the bidder)
usually against the will of their targets.

Businesses that take over existing companies by buying out their shares
until the business has controlling interests.
Mergers This happens when two companies join and form one new business.
When two businesses, usually by agreement become one.

If it is a public company, then the shareholders will swap their shares in
one company for the equivalent value of shares in the newly merged
company.
Vision A vision tries to predict what the future would look like; it reflects the
dream of where the business will find itself somewhere in the future.
Motivation One of the social factors that influences a consumers’ buying is
motivation.
Business profitability Business profitability is often defined as managing the triple bottom
line.
Demographics The demographics refers to the statistical data relating to the
population and particular groups within it e.g age and gender.
Objectives Clear directives of how the business intends to achieve its vision.
Corruption Ethical misconduct in the business.
Political unrest A political unrest is a form of protest by community members about
lack of service delivery.
Economic crime Those committed for financial gain and involve deception and fraud
rather than violence


@ Juffrou_Ansie

, 3


Counterfeiting Illegally copying of protected goods without the consent of the owner
Bargaining An acceptable agreement reached after negotiations


INFLUENCES ON BUSINESS ENVIRONMENTS

Ways businesses can have a direct influence on the environment. IMPAQ JUN 2021

↘ Businesses can influence their environment by introducing new products/opening new
branches/signing long-term contracts with suppliers/initiating negotiations with trade
unions.
↘ Businesses must protect the natural environment by using renewable sources of
power/initiate power-saving methods/implement ways to save water/use non-toxic
cleaning material/consider organically grown products.
↘ Businesses should adapt their ways to reduce the effects of climate change.
↘ Businesses should initiate their own CSR project to protect the natural resources they use.
↘ Businesses should get involved in/support a CSR project that protects the environment.
↘ Businesses should do business with organisations that are environmentally aware and
doing their part to slow the pace of environmental change.

_____________________________________________________________________

The benefits that businesses may enjoy by being involved in the macro environment. DBE NW/June
2019


→ The business can more accurately predict
future events, threats and opportunities that
may arise
→ The business can contribute to a healthier,
more skilled and productive workforce
→ It can protect natural resources and meet
consumer needs in a sustainable way
→ The business can contribute to wealthier
consumers
→ The business can reduce industrial conflict
and increase productivity.
→ The business can accurately promote a
cause that is a concern to the society.
→ The business can contribute its expertise and
resources that can influence the public opinion. This is called advocacy.

Ways in which the business can be involved in the macro environment

→ Knowing government regulations and operating within them.
→ Keeping up with new technologies to improve production and marketing.
→ Lowering its impact on the environment.
→ Entering the global market by using the internet to source suppliers and customers.
→ Working within the law to set up contracts.

@ Juffrou_Ansie

, 4


→ Taking advantage of economic changes such as exchange rate, tax break
_____________________________________________________________________



Ways to overcome competition @IMPAQ JUN 2021

• Management must ensure the business differentiates itself from competitors by tapping
into what the customer wants.
• Offering more personal services by being responsive to the customer’s
needs/expectations.
• Offering low-cost extras such as improved credit terms/discounts/loyalty schemes, etc.
• Charging lower prices than other businesses.
• Selling products of a superior quality / new products/services that customers might be
interested in.
• By being the best employer with well-trained/knowledgeable staff who create a better
working atmosphere.
• Stepping up the marketing of the business by using promotional ideas such as posters or
campaigns on social media.
• Updating the image of the business such as painting the front of the premises / making the
business looking modern/ inviting.
• Keeping up with developments in the business sector, following consumer trends/investing
in new technology.
• Improving on customer services and keeping them happy.

________________________________________________________________________

Scenario @IMPAQ JUN 2021

Local micro-lending on a slippery slope Unsecure micro-lending is growing despite
high risk. South Africa has witnessed extraordinary growth in unsecured micro-lending
over the last few years. This is due to South African banks taking uncalculated risks in
favour of higher premiums and due to a correction of previous discrepancies in the
South African credit industry.



The business environment for the challenges in the scenario above

Macro Environment

Reasons from the article why South Africa has witnessed extraordinary growth in unsecured
micro-lending over the last few years.

South African banks taking uncalculated risks in favour of higher premiums. A correction of
previous discrepancies in the South African credit industry

The term “micro-lending”


@ Juffrou_Ansie

, 5


→ A form of credit that is available to people who would not normally qualify for credit
anywhere else.
→ Granting of small loans to people who cannot get credit from banks.
→ Individuals or businesses make loans of small sums of money available to individuals for
short periods of time at interest rates that are much higher than those charged by
commercial banks.

How micro-lending can be a challenge to the business.

→ Limited regulations of micro-lending.
→ Individuals/Businesses pay unreasonably high levels
of interest and cannot afford to repay the money.
→ The loans come without training and many of the
entrepreneurs are unskilled and inexperienced and
their businesses fail.
→ When micro-businesses fail, their suppliers are also
affected since their sales decrease and they lose any
amounts owed to them by the micro-business.
→ Financial institutions also regard micro-lenders as a
threat in the formal sector and will compete with
them.

________________________________________________________________________

Impact of low-income levels @IMPAQ JUN 2021

• This leads to a decrease in the demand for goods and services resulting in a fall in turnover
and lower profits for businesses.
• People who earn low salaries and wages may become disheartened this will negatively
influence productivity.
• Consumers shift to cheaper brands of certain products.
• Poverty can lead to crimes such as shoplifting and robberies.
• Businesses will have lower profits and no money to expand.
• Income level affects the morale of the workforce and could lead to lower productivity which
impacts on the business turnover.

_____________________________________________________________________________

The reasons why businesses have more control over the microenvironment. @IMPAQ JUN 2021

• More control over microenvironment
• Business owners and managers have a great deal of control over the internal/
microenvironment of business, which covers day-to-day decisions.
• They choose the suppliers they purchase from / which employees they hire / the products
they sell, and where they sell those products.
• They use their skills and resources to create goods and services that will satisfy existing and
prospective customers.


@ Juffrou_Ansie

, 6


_____________________________________________________________________________

The business environment represented by the following statements DBE NW/June 2019

Statement Environment Extent of control
Micro Complete/Full
The employees of Ben’s Chicken Farm are regularly environment control
absent.
Market Limited/Little
The suppliers of Pinky Bakery do not deliver stock environment control/Influence
on time.
Macro No control
The buildings of Mampho Catering Services have environment
been destroyed by heavy storms.


_____________________________________________________________________________

CHALLENGES OF THE BUSINESS ENVIRONMENT

Scenario @IMPAQ JUN 2022

Jan’s Poultry Farm has been operating for 10 years. Its employees are
struggling to see where the business is headed. A new poultry farm has
opened near them affecting their profits. Jan is also struggling to pay the
new minimum wage.


You might get a similar question in the exam:

• Indicate what challenges Jan’s Poultry Farm is experiencing and motivate your answer by
quoting from the scenario.
• Classify the challenges according to the correct business environment.
• Determine the extent of control of each of the business environments.

Can complete the table?

Challenges and motivation Environment Extent of control




@ Juffrou_Ansie

, 7




_______________________________________________________________________

The different forms of power relationships @IMPAQ JUN 2021 & DBE NW/JUN 2019

Strategic • Businesses form partnership agreements to benefit from their
alliance/Partnership involvement with each other.
agreements • These partnership alliances help the parties involved to benefit
from infrastructure development and scarce skills.
• These alliances are designed to build on the expertise of each
partner and on how they complement each other.
Persuasion of large • If a business has a powerful investor, it can often benefit from
investors the relationship to obtain credit more easily and better deals
from suppliers.
• Businesses invite influential people to serve on their board of
directors to get advice from them.
• Having such powerful investors as part of the business may
have a positive influence on its reputation and image.

Company • This representative fulfils an important function in trying to
representatives’ persuade investors to invest in a particular business practice.
influence • People will make decisions based on the company’s image,
personality, communication style, and power of persuasion.
• Businesses must invest time and energy to recruit the right
person for this position.




__________________________________________________________________________



@ Juffrou_Ansie

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