# Business Studies Grade 11 P2 Eastern Cape November 2023 Memo > Grade 11 Business Studies Paper 2 memorandum from the Eastern Cape November Exam 2023 (English), 29 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/bus-studies-p2-gr11-memo-nov-2023-english-watermark/ff2c88b4-4222-481f-a457-5f162d1b5dad - Updated: 2026-09-27 - Subject: Business Studies - Grade: Grade 11 - Language: English - Document type: Memorandum - Year: 2023 - Exam period: Eastern Cape November Exam - Paper: 2 - Curriculum: CAPS - Pages: 29 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 11](https://www.hlayiso.com/library/grade-11) › [Business Studies](https://www.hlayiso.com/library/grade-11/business-studies) › [Business Studies Grade 11 P2 Eastern Cape November 2023 Memo](https://www.hlayiso.com/library/bus-studies-p2-gr11-memo-nov-2023-english-watermark/ff2c88b4-4222-481f-a457-5f162d1b5dad) ## About this document Business Studies · Grade 11 · Eastern Cape November Exam · 2023 · English. Memorandum, 29 pages. Read online or download the PDF. 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Layout, diagrams and tables may not survive extraction. ### Page 1 NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER 2023 BUSINESS STUDIES P2 MARKING GUIDELINE MARKS: 150 This marking guideline consists of 29 pages. ### Page 2 2 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) NOTES TO MARKERS PREAMBLE The notes to markers are provided for quality assurance purposes to ensure the following: (a) Fairness, consistency and reliability in the standard of marking (b) Facilitate the moderation of candidates' scripts at the different levels (c) Streamline the marking process considering the broad spectrum of markers across the country (d) Implement appropriate measures in the teaching, learning and assessment of the subject at schools/institutions of learning 1. Candidates’ responses must be in full sentences for SECTIONS B and C. However, this would depend on the nature of the question. 2. A comprehensive marking guideline have been provided but this is by no means exhaustive. Due consideration should be given to an answer that is correct, but: • Uses a different expression from that which appears in the marking guidelines • Comes from another credible source • Original • A different approach is used NOTE: There is only ONE correct answer in SECTION A. 3. Take note of other relevant answers provided by candidates and allocate marks accordingly. (In cases where the answer is unclear or indicates some understanding, part-marks should be awarded, for example, one mark instead of the maximum of two marks.) 4. The word ‘Sub-max.’ is used to facilitate the allocation of marks within a question or sub-question. 5. The purpose of circling marks (guided by ‘max’ in the breakdown of marks) on the right-hand side is to ensure consistency and accuracy in the marking of scripts as well as for calculation and moderation purposes. 6. Subtotals to questions must be written in the right-hand margin. Circle the subtotals as indicated by the allocation of marks. This must be guided by ‘max.’ in the marking guideline. Only the total for each question should appear in the left-hand margin next to the appropriate question number. 7. In an indirect question, the theory as well as the response must be relevant and related to the question. Copyright reserved Please turn over ### Page 3 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 3 8. Correct numbering of responses to questions is recommended in SECTION A and B. However, if the numbering is incorrect, follow the sequence of the candidate’s responses. Candidates will be penalised if the latter is not clear. 9. No additional credit must be given for repetition of facts. Indicate with an R. 10. The differentiation between 'evaluate' and 'critically evaluate' can be explained as follows: 10.1 When ‘evaluate’ is used, candidates are expected to respond in either a positive/negative manner or take a neutral (positive and negative) stance, e.g. Positive: ‘COIDA eliminates time and costs spent √ on lengthy civil court proceedings.’ √ 10.2 When ‘critically evaluate’ is used, candidates are expected to respond in either a positive/negative manner or take a neutral (positive and negative) stance. In this instance, candidates are also expected to support their responses with more depth, e.g. ‘COIDA eliminates time and costs spent √ on lengthy civil court proceedings, √ because the employer will not be liable for compensation to the employee for injuries sustained during working hours as long as it can be proved that the business was not negligent.’ √ NOTE: 1. The above could apply to ‘analyse’ as well. 2. Note the placing of the tick (√) in the allocation of marks. 11. The allocation of marks must be informed by the nature of the question, cognitive verb used, mark allocation in the marking guidelines and the context of each question. Cognitive verbs, such as: 11.1 Advise, name, state, outline, motivate, recommend, suggest, (list not exhaustive) do not usually require much depth in candidates’ responses. Therefore, the mark allocation for each statement/answer appears at the end. 11.2 Define, describe, explain, discuss, elaborate, compare, distinguish, compare, tabulate, differentiate, analyse, evaluate, critically evaluate (list not exhaustive) require a greater depth of understanding, application and reasoning. Therefore, the marks must be allocated more objectively to ensure that assessing is conducted according to established norms so that uniformity, consistency and fairness are achieved. 12. Mark only the FIRST answer where candidates offer more than one answer for SECTION B and C questions that require one answer. Copyright reserved Please turn over ### Page 4 4 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) 13. SECTION B 13.1 If for example, FIVE facts are required, mark the candidate’s FIRST FIVE responses and ignore the rest of the responses. Indicate by drawing a line across the unmarked portion or use the word ‘Cancel’. NOTE: 1. This only applies to questions where the number of facts is specified. 2. The above also applies to responses in SECTION C. 13.2 If two facts are written in one sentence, award the candidate FULL credit. Point 13,1 above still applies. 13.3 If candidates are required to provide their own examples/views, brainstorm this to come up with alternative answers. 13.4 Use of the cognitive verbs and allocation of marks: 13.4.1 If the number of facts are specified, questions that require candidates to 'describe/discuss/explain' may be marked as follows: • Fact 2 marks (or as indicated in the marking guidelines) • Explanation 1 mark (two marks will be allocated in SECTION C) The ‘fact’ and ‘explanation’ are given separately in the marking guidelines to facilitate mark allocation. 13.4.2 If the number of facts required is not specified, the allocation of marks must be informed by the nature of the question and the maximum mark allocated in the marking guidelines. 13.5 ONE mark may be awarded for answers that are easy to recall, requires one-word answers or is quoted directly from a scenario/ case study. This applies to SECTIONS B and C in particular (where applicable). 14. SECTION C 14.1 The breakdown of the mark allocation for the essays is as follows: Introduction Content Maximum: 32 Conclusion Insight 8 TOTAL 40 Copyright reserved Please turn over ### Page 5 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 5 14.2 Insight consists of the following components: Layout/Structure Is there an introduction, paragraphs and a conclusion? 2 Analysis and Is the candidate able to break down the question into 2 interpretation headings/sub-headings/interpret it correctly to show understanding of what is being asked? Marks to be allocated using this guide: All headings addressed: 1 (One ‘A’) Interpretation (16 to 32 marks): 1 (One ‘A’) Synthesis Are on the questions? 2 there relevant decisions/facts/responses made based Option 1: Only relevant facts: 2 marks (No ‘-S’) Where a candidate answers 50% or more (two to four sub-questions) of the question with only relevant facts; no '-S' appears in the left margin. Award the maximum of TWO (2) marks for synthesis Option 2: Some relevant facts: 1 mark (One ‘-S) Where a candidate answers less than 50% (only one sub-question) of the question with only OR some relevant facts; one '-S' appears in the left margin. Award a maximum of ONE (1) mark for synthesis. Option 3: Some relevant facts: 1 mark (One ‘-S’) Where a candidate writes FOUR sub- questions, but one/two/three sub-questions with no relevant facts; one '-S' appears in the left margin. Award a maximum of ONE (1) mark for synthesis. Option 4: No relevant facts: 0 marks (Two ‘-S’) Where a candidate answers less than 50% (only one sub-question) of the question with no relevant facts; two '-S' appear in the left margin. Award a ZERO mark for synthesis. Originality Is there evidence of one or two examples, not older than 2 two (2) years are based on recent information, current trends and developments? TOTAL FOR INSIGHT: 8 TOTAL MARKS FOR FACTS: 32 TOTAL MARKS FOR ESSAY (8 + 32): 40 NOTE: 1. No marks will be awarded for contents repeated from the introduction and conclusion. 2. The candidate forfeits marks for layout if the words INTRODUCTION and CONCLUSION are not stated. 3. No marks will be allocated for layout, if the headings ‘INTRODUCTION and CONCLUSION are not supported by an explanation. Copyright reserved Please turn over ### Page 6 6 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) 14.3 Indicate insight in the left-hand margin with a symbol e.g. (‘L, A, -S and/or O’). 14.4 The breakdown of marks is indicated at the end of the suggested answer/ marking guidelines to each question. 14.5 Mark all relevant facts until the SUBMAX/MAX mark in a subsection has been attained. Write SUBMAX/MAX after maximum marks have been obtained but continue reading for originality “O”. 14.6 At the end of each essay, indicate the allocation of marks for facts and marks for insight as follows: (L – Layout, A – Analysis, S – Synthesis, O – Originality) as in the table below. CONTENT MARKS Facts 32 (max.) L 2 A 2 S 2 O 2 TOTAL 40 14.7 When awarding marks for facts, take note of the sub-maxima indicated, especially if candidates do not make use of the same subheadings. Remember headings and sub-headings are encouraged and contribute to insight (structuring/logical flow/sequencing) and indicate clarity of thought. (See MARKS BREAKDOWN at the end of each question.) 14.8 If the candidate identifies/interprets the question INCORRECTLY, then he/she may still obtain marks for layout. 14.9 If a different approach is used by candidates, ensure that the answers are assessed according to the mark allocation/subheadings as indicated in the memorandum. 14.10 14.10.1 Award TWO marks for complete sentences. Award ONE mark for phrases, incomplete sentences and vague answers. 14.10.2 With effect from November 2015, the TWO marks will not necessarily appear at the end of each completed sentence. The ticks (√) will be separated and indicated next to each fact, e.g. ‘Product development is a growth strategy/ √ where business aim to introduce new products √ into existing markets.’ √ This will be informed by the nature and context of the question, as well as the cognitive verb used. 14.11 With effect from November 2017, the maximum of TWO (2) marks for facts shown as headings in the memo, will not necessarily apply to each question. This would also depend on the nature of the question. Copyright reserved Please turn over ### Page 7 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 7 SECTION A QUESTION 1 1.1 1.1.1 C√ 1.1.2 B √√ 1.1.3 D √√ 1.1.4 A √√ 1.1.5 C √√ (5 x 2) (10) 1.2 1.2.1 limited liability √√ 1.2.2 bar graph √√ 1.2.3 problem-solving √√ 1.2.4 ethics √√ 1.2.5 retrenchment √√ (5 x 2) (10) 1.3 1.3.1 D √√ 1.3.2 E √√ 1.3.3 A √√ 1.3.4 J √√ 1.3.5 H √√ (5 x 2) (10) TOTAL SECTION A: 30 BREAKDOWN OF MARKS QUESTION 1 MARKS 1.1 10 1.2 10 1.3 10 TOTAL 30 Copyright reserved Please turn over ### Page 8 8 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) SECTION B Mark the answers to the FIRST TWO questions only. QUESTION 2: BUSINESS VENTURES 2.1 Aspects to consider when initiating a business - Strategy √ - Operations √ - Productivity √ - Size of the business√ - Any other relevant answer related to the aspects that must be considered when initiating a business. NOTE: Mark the first THREE (3) only. (3 x 1) (3) 2.2 Strategies used by businesses to ensure they remain profitable and sustainable - Thorough planning every time new decision and development occurs. √√ - Sound managing of finances through sensible decision in spending. √√ - Effective management of scarce resources such as money, equipment, personnel. √√ - Effective managing employees through team building, good interpersonal relation and sound conflict resolution. √√ - Maintain a solid customer base by attracting and retaining customers. √√ - Behaving ethically and socially responsible where product prices are fair and environmentally friendly. √√ - Monitoring the external and internal environment to create awareness of threats and opportunities. √√ - Any other relevant answer related to strategies that businesses can use to ensure that they remain profitable and sustainable. Max. (4) 2.3 Avenues of acquiring a business 2.3.1 Avenue of acquiring a business from the scenario Leasing √√ (2) Motivation MP buys farms and allows the user to utilise the property with regular payment according to their contract. √ (1) NOTE: Do not award marks for the motivation if the avenue of acquiring a business was incorrectly identified. Max. (3) Copyright reserved Please turn over ### Page 9 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 9 2.3.2 Reasons why entrepreneurs may decide to purchase an existing business - Easier to raise finance √ if the business has a good history/image. √ - Immediate cash flow √ as there are already established customers. √ - Market research has already been done √ and there is an established customer base. √ - Distribution/Supply links/Staff/Network √ is/are already established. √ - A market for business products √ or services has already been established. √ - Existing employees and managers will have √ experience they can share. √ - Many business problems √ have already been solved. √ - Any other relevant answer related to reasons why entrepreneurs may decide to purchase an existing business. Max. (4) 2.4 Procedure for the formation of companies - Determine the minimum number of people √ establishing a company. √ - Reservation a company name with the registrar of companies, √ CIPC COR9.4 with fee payment. √ - Prepare Memorandum of incorporation √ indicating the rights, duties and responsibilities of shareholders/Nature of company/Securities/Meetings/ Directors. √ - File a Notice of Incorporation √ to commence a business/trade to raise finance. √ - The company needs to open a bank account √ and register with South African Revenue Services. √ - Register for unemployment insurance fund (UIF) √ with the department of labour. √ - Register with the commissioner for Compensation for Occupational Injuries and Diseases Act (COIDA) √ for protection of injuries at work. √ - Draw up a prospectus to inform investors about company √ and shares to offer. √ - Any other relevant answer related to the procedure for the formation of companies. Max. (6) 2.5 Gantt chart 2.5.1 Gantt chart from the scenario PERSON ACTIVITIES WEEKS RESPONSIBLE WEEK 1 WEEK 2 WEEK 3 Purchasing √ Mzala √ milking cows √ Setting up milking √ Kenny √ machines √ Sub max. (2) Sub-max. (2) Sub-max. (2) Max. (6) Copyright reserved Please turn over ### Page 10 10 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) 2.6 Factors that influence the choice of funding Nature of finance √√ - Shares and debentures are not available to certain forms of ownership, e.g. sole traders and partnerships. √ - Shares and debentures can only be issued by companies. √ Factor (2) Discussion (1) Sub-max. (3) Amount of capital needed √√ - Large amount of capital needed, the fewer options will be available. √ - Larger amounts must be obtained from banks/use own funds. √ Factor (2) Discussion (1) Sub-max. (3) Risk √√ - Bank/Venture capitalist will consider how safe their investment will be by looking at factors that will endanger the recovery of the debt. √ - Difficult for a new business to obtain funding/extra funding than an existing business who already has a good credit record. √ Factor (2) Discussion (1) Sub-max. (3) Cost of finance √√ - The cost of the funding is normally measured in the interest that must be paid for the funding. √ - Businesses must weigh all the options before choosing the most affordable option of funding √ Factor (2) Discussion (1) Sub-max. (3) Period of finance √√ - Short-term financing like the payment of creditors, buying stock, and businesses could make use of a bank overdraft. √ - Business must buy an asset, such as equipment, a bank loan would suit this purpose better. √ Factor (2) Discussion (1) Sub-max. (3) - Any other relevant answer related to factors that influence the choice of funding. NOTE: Mark the first TWO (2) only. Max. (6) Copyright reserved Please turn over ### Page 11 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 11 2.7 Preparation of visual aids 2.7.1 Slides - Start with the text which forms the basis of the presentation. √√ - Select the background to complement/enhance the text. √√ - Choose images that may help to communicate the message. √√ - Include/Create graphics to assist the information which is conveyed. √√ - Add special effects/sound/pictures/animation to make it interesting for the audience. √√ - Create hyperlinks to allow quick access to other files/documents/video clips. √√ - Use legible font and font size so that it is easy to see/read. √√ - Keep slides/images/graphs/font simple by not mixing different styles/ colours. √√ - Make sure there are no language and spelling errors. √√ - Use bright colours to increase visibility. √√ - Structure information in a logical sequence so that the audience can easily follow the content of the presentation. √√ - Limit the information on each slide by using key words and not full sentences. √√ - Any other relevant answer related to how the presenter must prepare slides as a visual aid. Max. (4) 2.7.2 Handouts - Structure information in a logical sequence. √√ - Use a legible font size and font size. √√ - Choose images that may help to communicate the message. √√ - Make sure there are no grammatical/spelling errors. √√ - Use bright colours to increase visibility. √√ - Refrain from using busy borders, different fonts and too many different colours. √√ - Limit the information as handouts should not contain unnecessary information. √√ - Allow an empty page at the end of the handout to allow for the audience to make additional notes during the presentation. √√ - Any other relevant answer related to how the presenter must prepare handouts as a visual aid. Max. (4) [40] BREAKDOWN OF MARKS QUESTION 2 MARKS 2.1 3 2.2 4 2.3.1 3 2.3.2 4 2.4 6 2.5.1 6 2.6 6 2.7.1 4 2.7.2 4 TOTAL 40 Copyright reserved Please turn over ### Page 12 12 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) QUESTION 3: BUSINESS ROLES 3.1 Theories of ethics - Consequential theory √ - The common good approach √ - The rights approach √ NOTE: Mark the first THREE (3) only. (3 x 1) (3) 3.2 Principles of professionalism - Employees should respect themselves and the rights of others. √√ - Responding quickly to the request of customers. √√ - Caring about the quality of work before submission. √√ - Communicate with clarity and honesty. √√ - Meeting deadlines by completing assignments before the due date. √√ - Using resources responsibility with due regard for the environment. √√ - Respecting the image of the business/your profession, e.g. adhere to the dress code of the business/profession. √√ - Respecting diversity and differences and demonstrate cultural sensitivity. √√ - Acting with integrity/honesty/reliability, e.g. keep to working hours even if no other workers are around/noting using the business resources for personal gain. √√ - Being committed to quality and apply skills and knowledge to the benefit of the business/society at large. √√ - Adhering to confidentiality measures by not disclosing sensitive information about customers/business. √√ - Remaining objective, act fairly and justly to all without being biased or showing favouritism. √√ - Continually improve/develop skills and knowledge, e.g. attending refresher courses and seminars. √√ - Sharing knowledge by investing time and expertise with junior staff members, e.g. uplifting/empowering others. √√ - Offering and accept appropriate incentives, goods and services in business transaction. √√ - Any other relevant answer related to the principle of professionalism. Max. (6) 3.3 Problem-solving 3.3.1 Problem-solving techniques from the scenario PROBLEM-SOLVING MOTIVATIONS TECHNIQUES 1. Force-field analysis √√ They considered all the supporting and opposing ideas for this development. √ 2. Delphi technique √√ UT decided to invite experts to help them deal with their challenges. √ Sub-max. (4) Sub-max. (2) Copyright reserved Please turn over ### Page 13 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 13 NOTE: 1. The answer does not have to be in tabular format. 2. Award marks for the problem-solving techniques even if the motivations were incomplete. 3. Do not award marks for the motivations if the problem-solving techniques were incorrectly identified. Max. (6) 3.4 Advantages of creative thinking in the workplace - Better/Unique/Unconventional ideas/solutions √ are generated. √ - May give the business a competitive advantage √ if unusual/unique solutions/ ideas/strategies are implemented. √ - Complex business problems √ may be solved. √ - Productivity increases as management/employees may quickly generate multiple ideas which utilises time √ and money more effectively. √ - Managers/Employees have more confidence √ as they can live up to their full potential. √ - Managers will be better leaders as they will be able to handle/manage √ change(s) positively and creatively. √ - Managers/Employees can develop a completely new outlook, √ which may be applied to any task(s) they may do. √ - Leads to more positive attitudes √ as managers/employees feel that they have contributed towards problem solving. √ - Improves motivation √ amongst staff members. √ - Managers/Employees have a feeling of great accomplishment √ and they will not resist/obstruct the process once they solved a problem/contributed towards the success of the business. √ - Management/Employees may keep up √ with fast changing technology. √ - Stimulates initiative from employees/managers, √ as they are continuously pushed out of their comfort zone. √ - Creativity may lead to new inventions, √ which improves the general standard of living. √ - Any other relevant answer related to the advantages of creative thinking in the workplace. Max. (4) 3.5 Major changes that people and businesses deal with 3.5.1 Unemployment - It is when employees lose their jobs due to resignation for a better position, √ being fired, or choosing to stop working. √ - Change can lead to unemployment √ due to retrenchment. √ - A business may close down/sold/merge √ resulting to unemployment. √ - Coping with unemployment is traumatic √ and can lead to depression and illness. √ - Any other relevant answer related to unemployment as a major change that the people and businesses deal with. Max. (4) Copyright reserved Please turn over ### Page 14 14 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) 3.5.2 Affirmative action - Affirmative action is a legal requirement that ensures that qualified people from designated groups √ have equal opportunities in the workplace. √ - The policy aims to ensure that Black South Africans, women √ and people with disabilities are well represented in businesses. √ - Workers can resent affirmative action appointments √ and people who have been appointed in affirmative action positions. √ - Businesses should ensure that they are compliant with affirmative action procedures √ and that all employees are aware that these are being implemented within the businesses. √ - Any other relevant answer related to affirmative action as a major change that the people and businesses deal with. Max. (4) 3.6 Crises 3.6.1 Crises from the scenario - King Frozen Foods has encountered a severe challenge of stage eight load shedding. √ - Heavy rain also damaged their storeroom. √ - The employees of KFF also disagree with one another. √ NOTE: 1. Mark the first THREE (3) only. 2. Only award marks for responses that are quoted from the scenario. (3 x 1) (3) 3.6.2 Ways businesses can deal with crisis in the workplace - Businesses should respond appropriately √ and quickly to lessen the effects of the crisis situation. √ - Intervene swiftly and with urgency, √ but without panicking or overreacting. √ - Identify the real nature of the crisis by making a thorough assessment of the situation √ and seeking expert opinions. √ - Assess/If the crisis happens, face up to it √ and quickly find out what has happened without over-reacting. √ - Deal with crisis directly √ and timeously without trying to avoid/ minimise the seriousness of the situation. √ - Plan/Identify √ and prioritise the actions required. √ - Inform/Provide accurate √ and correct information. √ - Support/Guide others through the situation by providing training √ and support. √ - Attempt to contain the situation √ to minimise further damage. √ - Communicate with all stakeholders so that they are properly informed √ about what has happened, what the impact is and how it is being dealt with. √ - Appoint a spokesperson from the management team √ who will deal with all questions and provide information. √ - Regain control/Manage the situation in a calm manner √ until the crisis is over. √ Copyright reserved Please turn over ### Page 15 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 15 - Obtain expert advice √ if the crisis falls outside the business’ scope of expertise. √ - Call for help and seek assistance/advice √ and support from the appropriate agencies and professional. √ - Arrange debriefing sessions for all those directly involved in the crisis √ or who have been traumatised by the event. √ - Evaluate how effective the emergency plan was √ throughout the crisis. √ - Amend the emergency plan √ after evaluating what worked and what did not work. √ - Any other relevant answer related to ways in which businesses can deal with crises in the workplace. Max. (4) 3.7 Ways in which professional, responsible and effective practices should be conducted - Businesses should treat all employees equally. √√ - Plan properly and put preventative measures in place. √√ - Pay fair wages/salaries which are in line with the minimum requirements of the BCEA/Remunerate employees for working overtime/during public holidays. √√ - Engage in environmental awareness programmes/Refrain from polluting the environment, e.g. by legally disposing of toxic waste. √√ - Refrain from starting a venture using other businesses' ideas that are protected by law. √√ - Business decisions and actions must be clear/transparent to all stakeholders. √√ - Businesses should be accountable/responsible for their decisions and actions/ patent rights. √√ - Hiring honest/trustworthy accountants/financial officers with good credentials. √√ - Regular/Timeous payment of taxes. √√ - Draw up a code of ethics/conduct. √√ - Ongoing development and training for all employees. √√ - Performance management systems/Appraisals should be in place √√ - Adequate internal controls/monitoring/evaluation. √√ - Any other relevant answer related to ways in which professional, responsible, ethical and effective business practices should be conducted. Max. (6) [40] BREAKDOWN OF MARKS QUESTION 3 MARKS 3.1 3 3.2 6 3.3.1 6 3.4 4 3.5.1 4 3.5.2 4 3.6.1 3 3.6.2 4 3.7 6 TOTAL 40 Copyright reserved Please turn over ### Page 16 16 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) QUESTION 4: MISCELLANEOUS TOPICS BUSINESS VENTURES 4.1 Project planning steps - Define the scope of the plan to be done. √ - Identify project supporters. √ - Break the project down into activities. √ - Set time frames and determine how much time you will need to allocate to each activity. √ - Set milestones/targets, for example, determine what the main completion point is. √ - Determine accountabilities and the person responsible for the decision/s made. √ - Calculate the financial, human, and technical resources that need to be allocated. √ - Plot the activity schedule into a Gantt chart. √ - Execute the project plan. √ - Monitor progress. √ - Communicate and review project progress. √ - Keep records of all activities. √ - Any other relevant answer related to project planning steps. NOTE: 1. Mark the first TWO (2) only. 2. Accept the steps in any order. (2 x 1) (2) 4.2 Qualities of an entrepreneur - Desire for responsibility for their decisions and actions in their business. √√ - Taking calculated risks where involve a degree of uncertainty. √√ - Good management and leadership skills, such as planning, motivating, and controlling. √√ - High levels of energy and good health are essential. √√ - Dreams with a clear vision and able to achieve long-term goals. √√ - Confidence in one’s ability to succeed in believing themselves to achieve their goals. √√ - Flexibility in adapting to changing business environment. √√ - Willpower to overcome obstacles, for example, new competitors. √√ - Recognising opportunities and convert them into business opportunities. √√ - Showing perseverance by continuing to try until they have reached a goal. √√ - Organisational skills e.g., time management, planning and leadership. √√ - Passion will keep the entrepreneur motivated when things go wrong. √√ - A high degree of commitment to their business idea and work hard to achieve their goals. √√ - Being creative by using creative thinking skills to turn threats into business opportunities in order to be competitive. √√ - Product and customer focus are needs and wants of their customers. √√ - Any other relevant answer related to the qualities of an entrepreneur. Max. (4) Copyright reserved Please turn over ### Page 17 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 17 4.3 Forms of ownership 4.3.1 Document from the scenario Prospectus √√ (2) 4.3.2 Aspects that must be included in the prospectus - Company overview, including the vision, mission and goals of a business √√ - Product or service portfolio √√ - Market analysis and strategy √√ - Management team √√ - The risk and potential of the business √√ - Available financial and share information √√ - Company's assets and liabilities √√ - Financial position and securities attached √√ - Profits and losses with audited financial statements √√ - Cash flow √√ - Prospects for growth √√ - Pre-incorporation contracts that have been signed √√ - Date of registration of the prospectus √√ - The minimum subscription √√ - Any other relevant answer related to aspects that must be included in the prospectus. Max. (4) 4.4 Reasons why businesses need funding - Cover the start-up cost of buying premises √/machinery/raw material. √ - Run the business and have enough money √ to pay employees/suppliers of raw material. √ - Pay for cost of input such as wages, telephone √ and other expenses. √ - Expand the business as the orders/sales increase √ and bigger premises need to be established. √ - Any other relevant answer related to reasons why businesses need funding. Max. (4) 4.5 Advantages of outsourcing - Provide continuity √ during periods of high staff turnover. √ - Allows businesses to focus √ on important business activities. √ - Operations, where costs are running out of control, √ can benefit from outsourcing. √ - Staffing flexibility is possible because the business can make use of seasonal cyclical demands, √ for example, when there are only certain times when extra labour is needed. √ - On-site outsourcing will bring people with a certain skill set into the company, √ and existing employees can collaborate with them to gain new skills. √ - Company is able to reduce costs √ as outsourcing can lead to a decrease in staff, remuneration, control and operating costs. √ - Business can focus on its vision, goals √ and to apply its staff more effectively in its core business. √ - Improved access to skilled people as the outsourced work will be done by highly skilled people, √ without the company having to employ them. √ Copyright reserved Please turn over ### Page 18 18 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) - Business has access to resources √ and equipment for a specific function. √ - Fixed cost and overhead costs are lower √ for the business. √ - Any other relevant answer related to the advantages of outsourcing. Max. (4) BUSINESS ROLES 4.6 Benefits of ethical business ventures - Businesses can build a good reputation and attract more investors, thus increasing profitability. √√ - Customer loyalty is created and nurtured, and a positive business image will be created. √√ - Staff morale can be built and maintained by paying employees fairly. √√ - Staff who are hard-working and productive will be loyal and dedicated to the business. √√ - Positive relationships will develop between co-workers, which will result in improved productivity. √√ - Businesses that become compliant with environmental regulations will avoid unnecessary fees or sanctions. √√ - Any other relevant answer related to the benefit of ethical business ventures. Max. (4) 4.7 Advantages of working with others to solve problems - The problem can be solved faster and easier √ by working with others. √ - Workload decreases √ if everyone does their share. √ - More ideas can be generated √ increasing the chances of finding the best possible solutions. √ - Exposure to other people’s thinking patterns √ and to the way other people approach problems. √ - Enables team members to learn from others √ and accept their points of views. √ - Greater results √ can be achieved. √ - Team members have access √ to a broader bases of knowledge, skills and expertise. √ - The problem is viewed from different perspectives √ leading to better/more diverse inputs. √ - Problems are analysed in greater detail √ which lead to better understanding of the problem. √ - Promotes creative thinking and idea generation √ by thinking of as many ideas as possible to solve problems. √ - Any other relevant answer related to the advantages of working with others to solve problems. Max. (6) 4.8 Stress and crisis management 4.8.1Causes of stress from scenario - Heavy workload √ - Works long hours √ NOTE: Mark the first TWO (2) only. (2 x 1) (2) Copyright reserved Please turn over ### Page 19 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 19 4.8.2 Ways employees can manage stress in the workplace - Develop self-awareness to recognise the signs of stress and its causes. √√ - Create a balanced lifestyle and minimise extreme emotions. √√ - Exercise regularly and keep fit. √√ - Follow a balanced diet. √√ - Get enough sleep and relaxation. √√ - Replace negative self-talk with positive thoughts. √√ - Apply good time-management skills. √√ - Set personal realistic goals and targets. √√ - Accept things one cannot change and focus on things one can control. √√ - Practise time management. √√ - Any other relevant answer related to ways employees can manage stress in the workplace. Max. (4) 4.9 Ways in which businesses can stimulate creative thinking - Businesses must emphasise the importance of creative thinking to ensure that all staff know that their ideas will be heard. √√ - Encourage staff to come up with new ideas/opinions/solutions. √√ - Encourage job swops within the organisation/studying how other businesses are doing things. √√ - Encourage alternative ways of working/doing things. √√ - Respond enthusiastically to all ideas and never let anyone feel less important. √√ - Reward creativity with reward schemes for teams/individuals that come up with creative ideas. √√ - Provide a working environment conducive to creativity, free from distractions. √√ - Make time for brainstorming sessions to generate new ideas such as regular workshops/generate more ideas/build on one another's ideas. √√ - Place suggestion boxes around the workplace and keep communication channels open for new ideas. √√ - Train staff in innovative techniques/creative problem-solving skills/mind- mapping/lateral thinking. √√ - Any other relevant answer related to ways in which businesses can create an environment that stimulate creative thinking. Max. (4) [40] Copyright reserved Please turn over ### Page 20 20 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) BREAKDOWN OF MARKS QUESTION 4 MARKS 4.1 2 4.2 4 4.3.1 2 4.3.2 4 4.4 4 4.5 4 4.6 4 4.7 6 4.8.1 2 4.8.2 4 4.9 4 TOTAL 40 TOTAL SECTION B: 80 Copyright reserved Please turn over ### Page 21 (EC/NOVEMBER 2023) BUSINESS STUDIES P2 21 SECTION C Mark the answers to the FIRST question only. QUESTION 5: BUSINESS VENTURES (PRESENTATION) 5.1 Introduction - Presenting business information enables business to make quick decision- making. √ - Preparing for a presentation helps the presenter to use the most appropriate content to ensure that the audience remains interested. √ - Stakeholders rely on business reports to keep them updated regarding the risks associated with their investments. √ - Handling feedback in a non-aggressive and professional manner may enable the audience to give valuable inputs on the presentation. √ - Any other relevant introduction related to the importance of presenting business information/factors that the presenter must consider when preparing a presentation/steps in report writing/ how to handle feedback after a presentation in a non-aggressive and professional manner. (Any 2 x 1) (2) 5.2 Importance of presenting business information - Increases sales and profitability. √√ - Provides management with information/data regarding important markets. √√ - Enables businesses to identify opportunities and threats in the market. √√ - Allows management to develop new strategies in order to overcome competition in the market. √√ - Enables businesses to share their financial performance with internal and external stakeholders. √√ - Attracts and retains investors and improves the image of the business. √√ - Employees are informed about the business operations and the required performance. √√ - Any other relevant answer related to the importance of presenting business information. Max. (10) 5.3 Factors that the presenter must consider when preparing a presentation - Clear purpose/intentions/objectives √ and main points of the presentation must be presented. √ - The main aims should be captured in the introduction √ and opening statement of the presentation. √ - Information presented should be relevant √ and accurate. √ - Fully conversant with the content √/objectives of the presentation. √ - Background/diversity/size/pre-knowledge of the audience √ to determine the appropriate visual aids. √ - Prepare a rough draft of the presentation with a logical structure/format √ with an introduction, body and conclusion. √ - The conclusion must summarise the key facts √ and how it relates to the objectives/shows that all aspects have been addressed. √ - Create visual aids/graphics that will consolidate the information √/facts to be conveyed to the board of directors. √ Copyright reserved Please turn over ### Page 22 22 BUSINESS STUDIES P2 (EC/NOVEMBER 2023) - Find out about the venue for the presentation, √ e.g. what equipment is available/appropriate/availability of generators as backup to load shedding. √ - The time frame for presentation should considered, √ e.g. fifteen minutes allowed. √ - Rehearse to ensure a confident presentation √/effective use of time management. √ - Prepare for the feedback session, √ by anticipating possible questions/ comments. √ - Any other relevant answer related to the factors that should be considered when preparing for a presentation. Max. (14) 5.4 Steps in report writing OPTION 1: - Define the purpose of a report √ and who will be reading it. √ - Be aware of √ who the reader of the report will be. √ - Do research √ in order to gather data. √ - Plan the report structure √ e.g. title, contents page, introduction, body and conclusion. √ - Prepare a work plan, start early √ and allow time for brainstorming and preliminary research. √ - Clearly display the topic of the report √ at the top of the page. √ - Put together the first draft of the report, √ print the first draft and read sometime later. √ - Ensure the information presented is useful √ to the decision-making process. √ - Organise √ and rewrite your material. √ - Prepare visual aids √ to help convey the information. √ - Ensure the report is accurate √ and to the point. √ - Balance the quality of information by being specific √ and straight to the point. √ - Anticipate the audience √ and issues, it could be distributed to people whom it was not intended. √ - Write the executive summary √ to provide an overview of a report. √ - Proofread the whole report √ to check for spelling, grammar and layout mistakes. √ - Any other relevant answer related to steps in report writing. OR Copyright reserved Please turn over Text truncated here. 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