(a) planning

(b) organising;
(c) directing;
(d) controlling;
(e) coordinating;
(f) delegating,
(g) motivating.

providing adequate working conditions, training,

maintaining good communication and human relations
 set reasonable prices, have good customer service

pay tax, control pollution levels

improve working conditions

motivating workers
practice good leadership
provide fair wages
Invest in good communication technology- Joanna should
invest in communication devices such as cell phone for
workers and a PA system for making announcements. This
will ensure communication is easy to carry out.

Interact with staff regularly- Joanna should ensure she

meets with staff regularly so if they have any questions or
issues regarding instructions given they will have the
opportunity to clarify.
A contract is an agreement made by two or more parties that is
legally binding or enforceable by law.

Offer

Competence/capacity of parties- The term capacity is

used to identify who is eligible to enter into a contract.
Anyone who enters into a contract must be able to take
responsibility for their actions associated with the contract.
Parties to the contract must be over 18 years, of sound
mind, not under the influence of drugs or incarcerated.

Legality- A contract must be legal- thus, agreements

made between parties concerning illegal drugs and any
other illegal activity is not a contract.
 No he will not suceed

Paul did not provide acceptance regarding the

new price of 6500 stated in the counter offer.
Additionally there was no consideration as no
money was exchanged or provided as a
downpayment.

Signed, sealed and delivered

(i) By performance- When the parties to a contract fulfill
the obligations arising under the contract within the time
and manner prescribed, then the contract is discharged by
performance.

Example: Peter agrees to sell his cycle to John for an

amount of $10,000 to be paid by John on the delivery of
the cycle. As soon as it is delivered, John pays the
promised amount.

(ii) By breach- If a party to a contract fails to perform his

obligation according to the time and place specified, then
he is said to have committed a breach of contract.

For example: A seller agrees to deliver the goods (or

service) within 10 days but fails to do so. Under such
circumstances the injured party can sue for damages.
Land , Labour, Capital, enterprise

oil

The Petroleum industry

Tertiary surplus

primary domestic

secondary subsistence
Production refers to the quantity of a particular item
produced. It is the process of combining units of input
(raw materials) and human resources (capital and
labour) to create goods and services to satisfy human
wants and needs.

Productivity refers to the efficiency of production or

how well the resources were used. In other words
productivity measures output per unit of input
Good employee motivation- If employees are motivated
they will be eager to attend work and perform at their
best. As a result productivity will increase.

Good working conditions- An employee will be more

productive if the environment is comfortable and they are
able to perform their duties in a safe manner.
A market is any situation where buyers and sellers
come together.

The process involved in identifying, anticipating,

and meeting customer requirements to make a
profit

product, price, place, promotion

Branding is the process of creating the brand identity
of a company. eg logo

A sales promotion is a marketing strategy where a

business will use short-term campaigns to spark
interest and create demand for a product, service
or other offers. eg discounts
Price- If Pat's price is too high, especially compared to
competitors, demand for the product by consumers will
be low

Quality- If the quality is poor consumers will not buy her

product and demand will be low. Consumers will not
risk their health and purchase a product that is of a
lower standard.
ICT help banking and finance operations by:
1) Improve the efficiency and effectiveness of
services offered to customers
2) Enhances business processes,
3) Makes managerial decision making easier as info
is easily available,
4) ICT allows workgroup collaborations easier eg
Zoom meetings.,

1) Computer Aided Design

(CAD).
2) Management Information
Systems (MIS).
While E-Commerce refers to conducting online
transactions, E-Business encompasses all the
business activities and services conducted using the
web.

1) Improves communication within the business

2) Reduces expenses in the company
3) Makes the business more efficient
4) Allows records to be stored easily
Unauthorized data collection and tracking- Employees
may use ICT to monitor the personal information of
individuals they know. This is unethical as customers are
placing their trust in the business to keep their information
confidential.

Identity theft- hackers can easily manipulate information

after accessing online databases and use financial
information and personal details to assume another
person's identity. This is dangerous and places customers
in harm's way.