Summary Grade 11 BUSINESS STUDIES Paper 1 June Exam 2024 STUDY NOTES
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Vak
Business Studies
Instelling
11th Grade
Previous examination papers were used to compile these notes, @IMPAQ JUN 2022, 2021/ DBE - NW/June 2019.
Content:
• Influences on business environments
• Challenges of the business environment
• Adapting to challenges of the business environment
• Contemporary socio- economic iss...
Grade 11
BUSINESS STUDIES
Paper 2
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 memorandum.
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:
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
• Stress and crisis management
• Professionalism and ethics
Cooperative This form of ownership is established by a group of people who
agree to work together for their mutual economic benefit:
Leasing A business can use fixed assets by renting it for a period of time
Fishbone analysis Fishbone analysis requires a group to identify the problem
factors and then for individuals to work on possible solution.
Kaizen model Quality groups meet to discuss levels of quality in their divisions.
@ Juffrou_ Ansie
, 2
Project plan Project plan is a written document giving details of the goals of
the business and how these
goal will be reached.
Corporations Members are also shareholders of the business.
Franchisee They pay an upfront fee for the right to use the name and
trademark.
Delphi techniques Get the opinions of experts without bringing them together
face to face.
Internal change Aims to address the weakness within a business enterprise.
Gantt charts An instrument that helps project managers do project planning
by clearly showing activities against dates of completion.
Professionalism Professionalism developing moral compass for
decision making
Conventional Conventional solutions certain of the outcome when
solutions solving problems.
Project planning Project planning identify and analyse all activities required to
be completed.
Equity Capital Equity Capital money contributed by the owner to
start the business
Bad decision Bad decision demotivates employees and might cause high
staff turn-over
Royalties Monthly payment to a franchisor.
Franchise Legal document set up between franchisor and franchisee.
agreement
Goodwill Amount of money a business owner wants for good trade
name he or she has built up.
Lease The contract between parties giving conditional ownership of
an asset for a fixed period.
Indigenous Knowledge, practices, and skills developed by indigenous
knowledge people to improve their quality of life
@ Juffrou_ Ansie
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Objectivity theory Moral values can be objectively true independent of individual
personal feelings.
State-owned Denel SOC Ltd. manufactures military equipment and has only
one shareholder, the South African government. Denel is a
state-owned company.
Stress management The process of creating something new, that is valuable and
useful.
Force field analysis This problem-solving technique considers all the advantages
and disadvantages of a decision.
Quality assurance Caring about the quality of work before submitting it.
Stakeholders All parties who have an interest in the business and who are
affected by the change.
Franchising Franchising refers to the purchase of a business idea.
Integrity refers to working honestly, according to the norms and
standards of the business.
Partnership is a business where all the owners have unlimited liability for the
debts of the business.
Optimal Optimal stress is the right balance of influences to create the
best result.
Stressors A percentage of sales is paid to the owner of the business idea.
Continuity The ability to carry on with operations despite big changes or
events
Three-point test A tool that can help managers and employees to make the
right decisions.
Consensus Agreement between all parties through analytical discussion.
Legal entity The business is regarded as a legal person that exists
independently of its members. / Business is separate from the
owner. Owner cannot be targeted/held liable for debt.
The ADKAR model A – Awareness
@ Juffrou_ Ansie
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D – Desire
K – Knowledge
A – Ability
R – Reinforcement
Unlimited liability When owners lose all their possessions when the business
cannot pay its creditors and are declared insolvent it is known
as unlimited liability.
Lateral Lateral thinking is solving problems by seemingly illogical
methods.
Force employees Which of these is not a step in the change management
to change process
Action plan A document stating what must be done, who will do it, and by
when it will be done.
Grants Money given by the government or an NGO for a specific
purpose is called grants
Flipchart The flipchart and whiteboard may be used for noting down
information during a presentation
Scheduling Allocating people to perform work is called scheduling
Written report A non-verbal presentation
Graph A graph is a visual illustration to provide information clearly and
concisely
Whistleblowing Whistleblowing is a system to alert senior management of
fraudulent activities.
SARS VAT, SITE, and PAYE registration must be completed through
SARS
ADKAR The ADKAR theory was designed to focus on teams with
specific activities that would have an impact on results.
@ Juffrou_ Ansie
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Force field The Force field technique is based on identifying all the forces
for and against a strategy and assigning a weight to these
forces.
Dividends Money paid to shareholders in the interim and/or financial year-
end
Business Process Concentrates on new ways to get work done.
Reengineering
Collateral Assets pledged to the bank in case of a default in the
repayment of a loan.
Memorandum of The document sets out the rights, responsibilities, and duties of
Incorporation (MOI) shareholders and directors. Serves as a constitution of a
company.
Non-profit An association incorporated not for gain.
company
A legal entity that is created by the government to take part in
State-owned
commercial activities on its behalf.
company (SOC)
1. BUSINESS VENTURES
SCENARIO DBE NW/June 2019
BOTSHELO Pty (Ltd)
Botshelo Pty (Ltd) intends to penetrate the market by acquiring other businesses
in the neighbouring countries. They contacted Mara Pty (Ltd) to buy their
business. In their discussion the owners of Mara overstated the returns made in
the previous years. The business has experienced a decline in sales due to the
bad reputation caused by negative employees.
@ Juffrou_ Ansie
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Quote from the scenario reasons why Botshelo Pty (Ltd) should be discouraged to buy
Mara Pty (Ltd).
Mara overstated the returns made in the previous years. The business has experience
decline in sales due to the bad reputation caused by negative employees
The positive impact of buying an existing business.
It is easy to raise finance if the business has a good history. The business is able to make
immediate cash flow because it has already established customers. It is easy to
penetrate the market because distribution channels and supply links are already
established.
Reason why entrepreneurs may decide to purchase an existing business. DBE NOTES 2024
Established business An established business should not take up too much
time to set up as all requirements needed to run the
business is already in place.
Established customer An established business should have an existing
base customer base.
Established name When an entrepreneur buys an existing business, it may
and reputation come with goodwill from an established good
reputation on the market. People are creatures of
habit – if they have shopped at the same hardware
store for several years, they will likely continue to shop
there – even when a new owner takes over. It is a
good idea to state that the transfer of ownership
@ Juffrou_ Ansie
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includes the company’s phone number, website and
registered name.
Known market The market research has already been done for an
existing business, so the new owner can use that
information to form any future plans.
Mentorship Starting a business can be overwhelming. If you
purchase an existing business, the owner may often be
willing to stay on for an agreed amount of time to
mentor and guide the incoming owner.
Cash flow An existing business already has customers and
continued cash flow. By comparison, a start-up can
take a long time to attract new customers and
become cash positive. Buying an existing business can
offer greater security over working capital and help
the new owner to improve cash flow sooner.
Financing Many existing companies have three or more years of
profitable financials that makes it easier to secure
financing either from a traditional bank, government
organisation, or venture capitalist.
Current Staff Only one in ten start-ups make it past the second year
and many businesses fail during growth as the business
tries to hire more staff. Having trained staff in place
can ensure a smooth transfer and contribute to the
success of the business.
@ Juffrou_ Ansie
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