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Summary Business Studies guide grade 10
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provides and explains all aspects of business studies
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T. KotzeS t ud y G ui de
Business Studies
Grade 10
,Contents
Introduction to Business Studies .......................................................................... 1
Term 1
Topic 1 The micro environment ........................................................................... 2
OVERVIEW .............................................................................................................. 2
Unit 1 Components of the micro environment ...................................................... 3
Unit 2 Eight business functions ......................................................................... 6
Unit 3 Functions in the business .......................................................................15
Unit 4 General management ............................................................................ 16
Unit 5 The concept of quality............................................................................. 17
Unit 6 Management and the success of business .............................................. 18
Questions ......................................................................................................... 19
Answers ............................................................................................................ 23
Topic 2 The market environment ....................................................................... 28
OVERVIEW ............................................................................................................ 28
Unit 1 The market: customers and consumers .................................................... 28
Unit 2 Suppliers and intermediaries ................................................................. 29
Unit 3 Competitors ...........................................................................................31
Unit 4 Civil society ...........................................................................................31
Questions ......................................................................................................... 34
Answers ............................................................................................................ 36
Topic 3 The macro environment ........................................................................ 38
OVERVIEW ............................................................................................................ 38
Unit 1 The physical/natural environment .......................................................... 39
Unit 2 Economic environment .......................................................................... 39
Unit 3 The social, cultural and demographic environment.................................. 40
Unit 4 The technological environment .............................................................. 40
Unit 5 Legal and political environment ............................................................. 42
Unit 6 The international environment ............................................................... 43
Unit 7 The institutional environment ................................................................ 44
Questions ......................................................................................................... 45
Answers ............................................................................................................ 47
,Topic 4 Interrelationship of micro, market and macro environments ................... 49
OVERVIEW ............................................................................................................ 49
Unit 1 The relationship of the three environments ............................................. 50
Unit 2 How do they relate? ................................................................................51
Unit 3 How do micro-and market environments relate? ...................................... 52
Questions ......................................................................................................... 53
Answers ............................................................................................................ 54
Topic 5 Business sectors .................................................................................. 56
OVERVIEW ............................................................................................................ 56
Unit 1 Primary, secondary and tertiary sectors ................................................... 57
Unit 2 The difference between the formal and informal sectors .......................... 59
Unit 3 The difference between public and private sectors .................................. 60
Questions ......................................................................................................... 61
Answers ............................................................................................................ 62
Term 2
Topic 1 Contemporary socio-economic issues .................................................... 65
OVERVIEW ............................................................................................................ 65
Unit 1 Poverty, inequality, inclusivity, unemployment and HIV/Aids .................... 66
Unit 2 Piracy, counterfeiting and bootlegging .................................................... 68
Unit 3 Gambling, violence, crime ..................................................................... 69
Unit 4 Strikes, labour disputes and political disturbances .................................. 71
Questions ......................................................................................................... 72
Answers ............................................................................................................ 74
Topic 2 Social responsibility............................................................................. 77
OVERVIEW ............................................................................................................ 77
Unit 1 What is social responsibility? .................................................................. 78
Unit 2 What can businesses do?....................................................................... 78
Questions ......................................................................................................... 80
Answers ............................................................................................................ 81
Topic 3 Entrepreneurial qualities .................................................................... 82
OVERVIEW ............................................................................................................ 82
Unit 1 What is an entrepreneur? ........................................................................ 83
Unit 2 The qualities of an entrepreneur ............................................................ 86
Questions ......................................................................................................... 86
Answers ............................................................................................................ 87
, Topic 4 Forms of ownership .............................................................................. 88
OVERVIEW ............................................................................................................ 88
Unit 1 Forms of ownership vocabulary ............................................................... 89
Unit 2 Characteristics....................................................................................... 91
Unit 3 Advantages and disadvantages of different forms of ownership ............... 96
Questions ......................................................................................................... 99
Answers ...........................................................................................................103
Term 3
Topic 1 Creative thinking and problem-solving ................................................. 107
OVERVIEW ........................................................................................................... 107
Unit 1 Creative thinking .................................................................................. 108
Unit 2 Entrepreneurial opportunities ............................................................... 109
Questions ........................................................................................................ 114
Answers ........................................................................................................... 116
Topic 2 Business opportunities ....................................................................... 118
OVERVIEW ........................................................................................................... 118
Unit 1 Identifying business opportunities ......................................................... 119
Unit 2 The research process ........................................................................... 120
Unit 3 Business opportunities – needs and desires ..........................................122
Questions ........................................................................................................123
Answers .......................................................................................................... 124
Topic 3 Business location decisions................................................................ 126
OVERVIEW .......................................................................................................... 126
Unit 1 Where to position your business ............................................................ 127
Questions ........................................................................................................130
Answers ...........................................................................................................132
Topic 4 Contracts ............................................................................................134
OVERVIEW ...........................................................................................................134
Unit 1 Types of contracts .................................................................................134
Unit 2 Legal implications of contracts ..............................................................136
Questions ....................................................................................................... 138
Answers .......................................................................................................... 140
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