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2023-03-10 Term 1 GR 10 Revision Booklet
2023-03-10 Term 1 GR 10 Revision Booklet
BUSINESS STUDIES
REVISION BOOKLET
2023 TERM 1
Grade 10
This revision program is designed to assist you in revising the critical content and skills covered during the
1st term. The purpose is to prepare you to understand the key concepts and to provide you with an
opportunity to establish the required standard and the application of the knowledge necessary to succeed
in the Final NSC examination.
INDEX PAGE
This revision booklet covers the SIX topics that were taught in Term 1.
1. MICRO-ENVIRONMENT
The use of the action verb determines the responses required and the marking
principles that will be applied when assessing your responses.
● Define and Elaborate: Split marking will be applied. One mark will be awarded for the fact and an
additional mark for explanation of the fact
Elaborate on the meaning of the term micro-environment – Split marking will be applied
You should be able to identify a vision/mission statement, goals, and objectives from given
scenarios.
The use of the action verb determines the responses required and the marking principles
that will be applied when assessing your responses.
● Outline: Full marks will be awarded for correct responses in full sentences.
● Influence the way people in the organization interact with each other as well as with … ✓✓
● A negative culture will … workers and make them feel unimportant which may cause conflict. ✓✓
Action verbs like “state” or “name” require responses that will only be awarded one mark
● Human resources ✓
● Physical resources ✓
● Financial resources ✓
● Technological resources ✓
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2. MARKET ENVIRONMENT
The next topic that this booklet covers relate to the market environment
● Consumers
● Suppliers
● Intermediaries
● Competitors
● Other organisations / Civil Societies
o Non-government organisations [NGOs]
o Regulators
o Strategic allies
o Unions
Consumers ● Customers / Buyers are the final users of the product /services.
● A consumer who buys products or services from a business is that business’s
customer
● Consumer market can be subdivided into markets for:
o Durable products, e.g., T.V sets.
o Semi-durable products, e.g., furniture
o Non-durable product, e.g., newspaper
o Services, e.g., repairs
Suppliers ● Suppliers include factories / suppliers of goods / services with whom businesses
acquire / buy goods to run their businesses.
● Individuals or agents who provide resources such as raw- materials, products, or
services.
● For a business to survive in a competitive environment the supplier must provide
the right quantity at the right time, right price, and credit terms.
Intermediarie ● Intermediaries / Agents who help promote, sell, and distribute products to
s consumers.
● Bridge the gap between the manufacturer and the consumer.
● Intermediaries bring the products and services within reach of the consumer.
● Marketing intermediaries are wholesalers, retailers, spazas, agents, brokers, and
representatives.
● Financial intermediaries are banks, insurance companies, etc.
Competitors ● Competitors who sell the same / similar products / services can have a greater
impact on the market or the business. e.g., Shoprite & Pick ‘n Pay
● Analysing competitors helps management to understand the strength,
weaknesses, and capabilities of competitors
Regulator ● A regulator is an organization with official power to control an activity and makes
sure it is done satisfactorily,
● Responsible for making rules that businesses in the various industries must adhere
to.
Strategic ● Strategic allies refer to two or more businesses working together to enable them
allies to acquire expertise from another business that they do not have.
Trade unions ● Trade unions are the employee organizations that aim to improve the working
conditions of its members.
You should be able to identify the components of the market environment from
given scenarios/statements/case studies/cartoons/pictures and motivate your
answer
Opportunities in a ● Opportunities are any factors in the external environment that will
business context contribute or is already contributing to the … of the business.
● Businesses need to constantly seek opportunities in their external
Threats in a business ● Threats are any factors in the external environment that will stand in the
context way or are already standing in the way of businesses achieving their ...
● Businesses have a challenge of constantly identifying threats in the
external environment and devising … to turn them into opportunities
otherwise they will not be successful.
Examples:
o Increase in taxes
o New business offering similar product is established
o Increase in interest rates
3. MACRO ENVIRONMENT
3.1 Meaning of macro environment
● The macro environment refers to … of the business with everything … of the business.
● The macro environment is also known as the … environment.
● Business has … control over this environment.
● Political
PESTLE
● Economic environment
● Social
● Technological environment
● Legal
● Environmental
You should be able to identify the components of the macro environment from given
scenarios/statements/case studies/cartoons/pictures
Lower Order Question 1 Give practical examples of each component/feature of the macro
environment
Middle Order Question 2 Define practical examples of each component/feature of the macro
environment
Higher Order Question 3
businesses.
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2 Economic ● Rising costs due to inflation/petrol price could affect business … and
profitability.
● High interest rates mean that … will become more expensive.
● Fluctuations in foreign currency may restrict ...
3 Social ● Customers may not be able to afford products because of low … levels.
● Social issues affect … spending and business profitability.
4 Technological ● Businesses may not be able to keep up with/be aware of the … technology
● Employees may not be … to operate new technology
5 Legal ● NCA: The business must do … checks on clients, which may be costly and
time-consuming.
● CPA: The business must give … on the ingredients of the product.
4. BUSINESS FUNCTIONS
MANAGEMENT LEADERSHIP
Direct human behaviour Influence human behaviour
Manage tasks to reach Encourage new ideas
targets. to increase
productivity.
Task orientated People orientated
Management by planning / Lead by example / trust / respect.
organization
/ leadership / control
Instructional approach. Motivational / Inspiring approach
● General Management
● Purchasing A business function refers to
● Production the various activities
● Marketing performed by business.
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● Human resources
● Public Relations
● Administration
● Financial
Use the first letter of the eight functions to make a phrase or sentence that will help
you remember them. This study technique is known as a mnemonic. For example:
Good People Play Music Honest People Admit Failure
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you.
Lower Order Question 1 Name the factors that influence organisation structure
Middle Order Question 2
Higher Order Question 3
● Functional
● Project
● Matrix structures
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you.
function
Management of ● Accounting records, which can be used to draw up financial statements and
information reports
● Keeping all business transactions up to date
● Budgets, which is a plan of estimated expenses and income for a specific period
● Collecting and classifying data
Handling of ● Information is collected from both outside and inside the business.
information ● Correct and reliable information should be available for meaningful decision
making and to run the business successfully.
Office practice ● Office practice refers to how the administrative staff should handle their duties.
● It covers matters such as proper filing of documents; telephone etiquette;
internet usage by staff
Information ● IT is the use of electronic equipment to assist with various administrative tasks.
technology (IT) ● Technology is used to communicate and handle information and is referred to as
ICT (information and communication technology).
You should be able to identify these activities of the administrative function from
given statements/ scenarios/case studies
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you.
You should be able to identify the types and sources of financing from given scenarios/case
studies/statements/ pictures/cartoons
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you.
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you..
4.16 Purpose/Nature of the National Credit Act and the Consumer Protection Act.
When you are required to answer questions on the impact you could either provide
only the advantages (positives); only disadvantages (negatives)/ or sufficient facts that
cover both the advantages (positives) and disadvantages (negatives).
Refer to the WCED 2023 Gr. 10 Learner Book or the Gr. 10 Business Studies textbook issued to you.
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You should be able to identify methods of carrying out public relations from given
scenarios/case studies/statements/ pictures/cartoons
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Relationship Explanation
between
components
1. Business ● The eight functions within the business depend on each to achieve their goals
functions and objectives.
● The general management function consults the administration function to
obtain the relevant information that it requires to run the affairs of the
business.
● The general management function coordinates all the other functions in the
business in an efficient and effective way to achieve the mission and vision of
the business.
● It constantly seeks information and advice from all the departmental heads to
make decisions and develop strategies for the business.
2. Departments ● The departments within the business depend on and influence each other
when they perform their duties and responsibilities.
● The production department will have to inform the purchasing department
about the type, quality, and quantity of raw materials they need to produce
the goods required.
3. Employer and ● The employer depends on the employees to perform certain duties and
employee responsibilities in return for a remuneration
● Competition as one of the components of the market environment poses a challenge to businesses
because it is not within the … of the business.
● Consumers will buy from the business where they get the most … for money
● Businesses could find that they are unable to make a viable … when the demand is not high enough.
● Businesses could find it hard to … itself from its competitors to gain a competitive advantage.
Business and consumers ● Goods and services are advertised to potential consumers.
● Market research is carried out on consumers to determine their
preferences and tastes.
● The public relations department ensures that customers remain loyal.
Business and suppliers ● Using the best supplier ensures the best quality at the best price.
● Business communicates with suppliers about the latest technology and
products.
● Business ensures that the suppliers have adequate stock to meet the
demand of customers.
● Businesses pay their suppliers as they are also their customers
Business and competitors ● Businesses must be aware of competitors’ products and prices.
● Business must keep abreast of the latest trends.
● Businesses must keep up to date with advertising and marketing trends.
● Businesses must be creative to change competition into something
positive.
● There is constant interaction between the business and the elements present in all three business
environments.
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6. CONCEPT OF QUALITY
Introduction
Quality is critical to satisfying customers and retaining their loyalty to ensure that they continue buying in the
future. Quality products make an important contribution to long-term revenue and profitability. The quality
indicators in a business function work together to contribute to the quality of the final product.
Quality refers to how goods/services satisfy customer’s needs and expectations continuously. It refers to the
characteristics of a product/service that meets the customer’s requirements. Quality guarantees the degree of
excellence to which a product or service meets the required needs of customers.
Quality control involves the inspection of a final product to ensure that it meets the required standards. It includes
setting targets/measuring performance and taking corrective measures.
Raw materials/employees/machinery/workmanship/ production are checked to ensure that high quality standards
are maintained.
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• The quality enables businesses to have a good reputation and promotes brand awareness.
• Consumers associate the image of the business with the quality of the product.
• Quality products increase sales, profits, business growth and attracts prospective investors.
• The business gains goodwill and support from the community.
• The recruitment policy should attract the best candidates for available post within a business.
• HR should follow a fair and equitable selection process.
• A low rate of staff turnover in the business.
• A healthy relationship between employees and employers is maintained.
• Market-related salaries should be offered.
• Fair remuneration packages that are aligned to the industry should be provided.
• The administration function should collect data that can be used in decision-making and store it safely.
• All documentation should be kept neatly and orderly in a safe place.
• Vital information should be available to management when needed.
• The relevant information should be available to make a quick decision.
• The latest technology should be used.
• Complaints should be handled quickly and effectively.
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• The financial function has to obtained capital from the most suitable sources.
• They should negotiate a lower/better interest rate to keep financial costs as low as possible.
• They should draw a budget to ensure sufficient allocation of cash to prevent wastage.
• The financial records should be kept up to date at all times and should be accurate in order for the
business to be tax compliant.
• Accurate financial statements should be drawn up so that management can see the performance of
the business.
• Surplus funds should be invested to save for future projects/expansion/growth.
The general management function should develop and monitor effective strategic plans.
• They should:
– continuously learn and understand changes in the business environment.
– take responsibility for setting direction and prioritising responsibilities.
– communicate and share vision and values effectively.
– set an example of the expected behavior in terms of ethics and professionalism.
– ensure that employees have the necessary resource to do the work and allocate resources effectively.
6.10 The correlation between management and the success of a business in achieving its objectives,
strengths, and weaknesses
• Management plays a key role in making the correct decisions and motivating employees to be productive.
• Poor management can result in ineffective employees and loss of productivity.
• Businesses require ongoing decision-making and problem-solving.
• Problems that cannot be solved and decisions that are not made appropriately can lead to a decrease in
productivity
Consolidation Question:
QUESTION 1
1.1 Name any TWO methods used to indicate quality in products. (2)
1.2 Outline the quality indicators of the general management function. (4)
1.3 Read the scenario below and answer all questions that follow:
1.3.1 Identify FOUR business functions applicable to TBD. Motivate your answer by quoting from the
scenario above. (12)
Use the table below as a GUIDE to answering QUESTION 1.2.1
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QUESTION 2
2.1 Explain how the quality of performance of the following business functions can contribute to the
success of a business:
2.1.1 Human Resources (4)
2.1.2 Administrative (4)
2.2 Discuss the correlation between management and the success of the business. (4)
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7. SOLUTIONS TO ACTIVITIES
8. EXAMINATION TIPS
● Type of questions: Multiple-choice, matching, choosing the correct concept/terminology, etc. (short and
objective questions):
● These types of questions require you to have a thorough knowledge of the subject and exercise logic and
good insight.
● The recommended approach to multiple-choice questions is to read and analyse the statement carefully
● Thereafter, study the alternatives carefully and eliminate the incorrect options.
● Review the remaining possible answers and choose the correct one.
● Paragraph style, case studies and source-based questions – shorter type questions:
● Read and understand the information presented.
● Questions can be direct or indirect. These include source-based questions and case studies.
● You must possess a broader/deeper understanding of the broad topics and sub- topics to be able to
motivate, evaluate, analyse, recommend, suggest, advise etc.
● You will be required to provide their opinion, solve problems, and make recommendations related to the
question.
● Questions range from easy to difficult in terms of cognitive levels and levels/degrees of difficulty.
Conclusion LASO
● Start with the word “conclusion” as a heading. ● Write the words Introduction and Conclusion to obtain
● Briefly summarise the main points and focus of the full marks for layout.
essay ● Write sub-headings that appear in the question paper
● End your essay with a meaningful fact – not to obtain ONE mark for analysis.
repeating what was said in the introduction or ● Ensure that you write as many correct facts as you can
body that amount to at least 16 marks or more in the body
● Give at least one meaningful closing statement -
to obtain another ONE mark for analysis.
[1x2=2]
● Write only responses relevant to the questions asked
to obtain two marks for synthesis.
● Use at least TWO current examples to elaborate on
facts to obtain two marks for originality.