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IEB Business Studies Grade 12 New Exam Questions And Correct Answers 100% Verified Latest Update
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IEB Business Studies Grade 12 New Exam Questions And Correct Answers 100% Verified Latest Update...
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IEB Business Studies Grade 12 New Exam Questions AndCorrect Answers 100% Verified Latest Update
Porter's Six Forces - ANSWER 1. Degree of competition
2. Threat of substitute products
3. Threat of new entrants
4. Bargaining leverage of suppliers
5. Bargaining leverage of buyers
6. Complementors
return on investment - ANSWER net profit after taxes divided by total assets
a strategy that focuses on turnaround of very poor company performance by shrinking
the size or scope of the business
bonds - ANSWER A certificate issued by a government or private company which
promises to pay back with interest the money borrowed from the buyer of the
certificate: The city issued bonds to raise money for putting in new sewers.
liquidation - ANSWERWhen a business goes out of business, liquidation occurs, in which
the business sells off its assets to pay creditors.
Equities - ANSWERStocks that represent ownership shares in corporations
joint venture - ANSWERAn agreement by two or more companies to share ownership of
a business project
Dividends - ANSWERProfits paid to stockholders
,forward integration - ANSWERwhen a firm owns distribution channels for its major
products
Retirement annuity - ANSWER Stream of level cash flows available for consumption
during one's retirement years.
backwards integration - ANSWER Owning or controlling sources of raw materials and
components.
Pension fund - ANSWER a mutual fund that holds assets to pay retirement income to its
members
low-cost strategy - ANSWER Driving the organization's costs down below the costs of its
rivals.
differentiation strategy - ANSWER to offer products or services that are of unique and
superior value compared with those of competitors but to target a wide market
endowments - ANSWER gifts of property or money given to a group or organization
debentures - ANSWER unsecured bonds
focus strategy - ANS the positioning strategy that involves either cost leadership or
differentiation to yield a focused or specialized product or service for a market target
consisting of a limited number of buyers in a specific geographic region or from a
particular market segment
insurable risks include: - ANS fire insurance. vehicle insurance. theft insurance.
market penetration - ANS a marketing strategy that attempts to reach an increased
market share among current customers
,uninsurable risk - ANSWER A risk that no insurance company will cover. (war, illegal
activity)
product development - ANSWER company growth by offering modified or new products
to current market segments
unemployment insurance - ANSWER A source of income for workers who have lost their
jobs through no fault of their own
market development - ANSWER company growth by identifying and developing new
market segments for current company products
COIDA - protects employees against injury or death at work
Intrapreneur - ANSWER someone who works inside an existing organization who sees
an opportunity for a product or service and mobilizes the organization's resources to try
to realize it
entrepreneur - ANSWER A person who starts up and takes on the risk of a business
diversification - ANSWER a strategy of increasing sales by introducing new products
into new markets
autocratic - ANSWER absolute in power or authority
Synergy - ANSWER The interaction of 2 or more parties so that their combined effect is
greater than the sum of their individual effects
democratic - ANSWER Ensuring that all people have the same rights
, Functional Conflict - ANSWER Non-aggresive
Stimulates creativity
Laissez-faire - ANSWER a policy or attitude of letting things take their own course,
without interfering.
Dysfunctional conflict - ANSWER Aggressive disagreement
No compromise
Transactional Leadership - ANSWER leadership which elicits obedience of subordinates
through rewarding them for good performance and reprimanding them for poor
performance
CCMA - ANSWER independent organisation acting as a dispute resolution body
7P's of marketing - ANSWER product, price, place, promotion, people, physical
evidence, process
Negotiation - ANSWER discussion intended to arrive at a compromise
Consumer Protection Act - ANSWER laws and organizations designed to ensure the
rights of consumers as well as fair trade competition and the free flow of truthful
information in the marketplace.
Conciliation - ANSWER Facilitate conversation
brand extension - ANSWER the use of the same brand name for new products being
introduced to the same or new markets
Mediation - ANSWER a method of out-of-court dispute settlement using the services of a
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