Grade 10 Business Studies Question Papers and Memos

Grade 10 Business Studies Question Papers and Memos

Term 1

2023 term 1

Term 2

Term 3

Business Studies Grade 10 September Past Exam Papers

Term 2

Term 4

2020

Paper 1

Paper 2

2018

Questions and Answers

Define the meaning of micro-environment.

The micro-environment refers to the immediate factors that directly impact a business’s ability to serve its customers. This includes elements like suppliers, customers, competitors, and intermediaries. These factors are typically within the business’s control to some extent and can influence its daily operations and overall success.

Describe the importance of a business’s organisational structure.

A business’s organisational structure is crucial as it defines how activities such as task allocation, coordination, and supervision are directed toward the achievement of organizational aims. A well-designed structure helps to ensure efficient communication, effective management, clear lines of authority, and can enhance productivity and employee morale.

Read the scenario below and answer the question that follows.

TASKER’S FRESH FISH MARKET

Tasker’s Fresh Fish Market sells fresh fish. They employ five full-time workers. They use custom-made freezers to keep products fresh. They borrowed money from Moneywise to expand the business.

Identify TWO organisational resources from the scenario and motivate your answer by quoting from the scenario.

Two organisational resources from the Tasker’s Fresh Fish Market scenario are:

1. Human Resources: “They employ five full time workers.”
2. Financial Resources: “They borrowed money from Moneywise to expand the business.”

These quotes indicate that the business relies on its employees to operate and has secured financial backing to facilitate growth.

Discuss suppliers as a component of the market environment.

Suppliers are a critical component of the market environment as they provide the necessary inputs a business needs to produce its goods and services. The reliability, quality, and cost of the materials provided by suppliers can significantly impact a business’s operational efficiency and profitability. Moreover, strong supplier relationships can lead to favorable terms and innovation opportunities, enhancing the competitive edge of the business.

Explain TWO reasons why NGOs and CBOs form part of the market.

1. Advocacy and Influence: NGOs and CBOs often advocate for social, environmental, and economic issues that can affect market conditions. Their campaigns can lead to changes in regulations and consumer preferences.
2. Community Support and Development: These organizations can support local communities by providing services and funding, which can enhance the business environment and create a more stable and prosperous market.

Suggest TWO efforts to create an inclusive workforce.

1. Diversity Training Programs: Implement training programs to educate employees about the importance of diversity and inclusion, fostering a more respectful and inclusive workplace culture.
2. Equitable Hiring Practices: Develop hiring policies that ensure equal opportunity for all candidates, regardless of race, gender, disability, or other factors, to build a diverse and inclusive workforce.

Discuss the impact of crime on the business.

Crime can have a severe impact on businesses by increasing operational costs due to the need for security measures, insurance premiums, and potential losses from theft and vandalism. It can also deter customers, harm employee morale, and reduce overall productivity. Furthermore, a high crime rate can tarnish a business’s reputation, making it less attractive to potential investors and clients.

Read the following scenario and answer the questions that follow.

GOLDIE DOG PARLOUR

Goldie Dog Parlour is a salon for dogs. The management decided to expand services to also include other domestic pets in their services. The increase in interest rates caused cash flow problems in the business. A new competitor opened a salon in the area.

Quote TWO threats from the scenario.

From the Goldie Dog Parlour scenario, two threats are:

1. “The increase in interest rates caused cash flow problems in the business.”
2. “A new competitor opened a salon in the area.”

Recommend ONE strategy for each threat to overcome the challenge.

1. Interest Rate Threat: Implementing cost-cutting measures and optimizing operational efficiencies can help manage cash flow issues caused by rising interest rates. Additionally, exploring alternative financing options with lower interest rates could alleviate the financial burden.
2. New Competitor Threat: Differentiating services by offering unique packages, loyalty programs, or specialized care can attract and retain customers despite the new competitor.

Name TWO types of organisational structures.

1. Functional Structure
2. Matrix Structure

Outline consumers’ rights according to the National Credit Act.

According to the National Credit Act, consumers have the following rights:

1. Right to Apply for Credit: Consumers can apply for credit and be considered based on fair and objective criteria.
2. Right to Information: Consumers have the right to receive clear, understandable, and accurate information regarding credit terms and conditions.
3. Right to Privacy: Consumers’ personal and financial information must be protected and only used for authorized purposes.
4. Right to Fair Treatment: Consumers must be treated fairly and not be discriminated against in the credit granting process.
5. Right to Query and Dispute: Consumers can question and dispute entries on their credit records.
6. Right to Reasonable Credit Marketing: Consumers should not be subjected to aggressive or misleading marketing practices.

Read the scenario below and answer the questions that follow.

HAPPY PENCIL

Happy Pencil is a stationery store in East London. The business employs various employees in different departments. Anton updates the business’s Facebook page regularly.

Identify the business function that Anton is responsible for.

Anton is responsible for the Marketing business function, as he “updates the business’s Facebook page regularly.”

Describe TWO other methods Anton can use to carry out his responsibilities in the business function identified in QUESTION 3.3.1.

1. Email Marketing: Anton can create and manage email campaigns to keep customers informed about new products, promotions, and events.
2. Content Creation: Developing engaging content such as blog posts, videos, and infographics for the company website can help attract and retain customers by providing valuable information and showcasing the brand’s expertise.

Discuss the interrelatedness of the business functions.

The interrelatedness of business functions means that each function (e.g., marketing, finance, human resources, operations) does not operate in isolation. Effective coordination and communication among these functions are essential to achieve organizational goals. For example, the marketing department needs input from the finance team to set budgets and pricing strategies, while the HR department must work with operations to ensure staffing levels meet production needs. This synergy ensures that the business operates smoothly and efficiently, enhancing overall performance.

Describe TWO reasons why a business may need finance.

1. Expansion: Businesses may need finance to expand operations, such as opening new locations, increasing production capacity, or entering new markets.
2. Working Capital: To ensure smooth day-to-day operations, businesses often need finance to cover short-term expenses like salaries, rent, and inventory purchases.

Explain the difference between fixed and working capital.

Fixed Capital refers to long-term investments in assets such as buildings, machinery, and equipment that are used over several years to generate income. These assets are not intended for sale in the regular course of business.

Working Capital is the short-term capital required to manage daily operations. It includes current assets like inventory, accounts receivable, and cash, minus current liabilities like accounts payable. Working capital ensures that a business can meet its short-term obligations and continue operating smoothly.

Evaluate the impact of the Consumer Protection Act on businesses.

The Consumer Protection Act (CPA) has a significant impact on businesses by ensuring that they provide fair treatment, transparent information, and high-quality products and services to consumers. This can lead to increased trust and customer loyalty, potentially boosting sales and profitability. However, compliance with the CPA also requires businesses to invest in proper training, systems, and processes, which can increase operational costs. Non-compliance can result in legal penalties and damage to reputation, highlighting the importance of adhering to the Act’s regulations.