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MNB1501 Exam pack.
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MNB1501Exam pack.
,CONTENT
1) SUMMARY CHAPTER 1 – 10
2) EXAMINATION PAPERS
a. MAY/JUNE 2016
b. OCTOBER/NOVEMBER 2016
c. MAY/JUNE 2017
d. OCTOBER/NOVEMBER 2017
e. MAY/JUNE 2018
f. OCTOBER/NOVEMBER 2018
g. MAY/JUNE 2019
h. OCTOBER/NOVEMBER 2019
i. MAY/JUNE 2020
3) EXAMINATION MEMOS 2016-2019
4) ASSIGNMENT MEMOS
,Table of Contents
Introduction ........................................................................................................................................... 7
Role of business in society .................................................................................................................... 7
Needs and needs satisfaction ............................................................................................................... 9
Multiplicity of human needs ............................................................................................................. 9
Society limited resources .................................................................................................................. 9
Natural Resources ......................................................................................................................... 9
Huan resources .............................................................................................................................. 9
Capital ........................................................................................................................................... 10
Entrepreneurship ........................................................................................................................ 10
Needs satisfaction cycle .................................................................................................................. 10
The main economic systems ........................................................................................................... 10
Market economy .......................................................................................................................... 10
Command economy ..................................................................................................................... 10
Socialism ...................................................................................................................................... 11
Mixed economy ............................................................................................................................ 11
The state and economic systems .................................................................................................... 11
Need-satisfying institutions of market economy .......................................................................... 11
Business organisation ................................................................................................................. 11
Government organisations ......................................................................................................... 11
Non-Profit .................................................................................................................................... 12
The nature of business management ............................................................................................. 12
Purpose and task of business management .............................................................................. 12
Purpose ........................................................................................................................................ 12
Task of business management ................................................................................................... 12
The renaissance of entrepreneurship ................................................................................................ 12
Entrepreneurship in South Africa ...................................................................................................... 12
Role of entrepreneurs and small business owners........................................................................... 13
Achievement motivation ................................................................................................................. 13
Internal locust of control ................................................................................................................ 13
Innovation and creativity ............................................................................................................... 14
Risk-taking ....................................................................................................................................... 14
Entrepreneurs skills and industry experience .................................................................................. 14
Outsourcing .......................................................................................................................................... 14
, The entrepreneurial process .............................................................................................................. 15
The small business .............................................................................................................................. 16
The legal form of ownership............................................................................................................... 16
Entity’s legal juristic personality .................................................................................................... 17
Limited liability of owners .............................................................................................................. 17
Degree of control ............................................................................................................................. 17
Compliance of legal formalities ...................................................................................................... 17
Taxation ........................................................................................................................................... 17
Transferability ................................................................................................................................. 17
The type of ownerships ...................................................................................................................... 18
Sole proprietor ................................................................................................................................ 18
Partnership ...................................................................................................................................... 18
Close corporation ............................................................................................................................ 18
Company .......................................................................................................................................... 19
Business trust .................................................................................................................................. 19
Co-operative society ........................................................................................................................ 19
Joint venture .................................................................................................................................... 20
Business plan ....................................................................................................................................... 20
Stakeholders .................................................................................................................................... 20
Scope of business plan .................................................................................................................... 21
Cover page and executive summary .............................................................................................. 21
General company description ........................................................................................................ 21
Product and service plan ................................................................................................................ 21
Marketing plan ................................................................................................................................. 21
Management plan ............................................................................................................................ 21
Operating plan ................................................................................................................................. 21
Financial plan ................................................................................................................................... 22
The business and environmental change .......................................................................................... 22
The composition of business environment ....................................................................................... 23
Microenvironment .......................................................................................................................... 23
Market environment ....................................................................................................................... 23
Macro environment ......................................................................................................................... 23
The microenvironment ....................................................................................................................... 24
The market environment .................................................................................................................... 24
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