# Business Studies Grade 12 P2 EC Prelim 2023 Memo (English) > Grade 12 Business Studies Paper 2 memorandum from the EC Prelim 2023 (English), 33 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/bus-studies-p2-memo-sept2023-english/b3c8f03c-1610-4413-97b9-fa198a140166 - Updated: 2026-09-27 - Subject: Business Studies - Grade: Grade 12 - Language: English - Document type: Memorandum - Year: 2023 - Exam period: EC Prelim - Paper: 2 - Curriculum: CAPS - Pages: 33 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Business Studies](https://www.hlayiso.com/library/grade-12/business-studies) › [Business Studies Grade 12 P2 EC Prelim 2023 Memo (English)](https://www.hlayiso.com/library/bus-studies-p2-memo-sept2023-english/b3c8f03c-1610-4413-97b9-fa198a140166) ## About this document Business Studies · Grade 12 · EC Prelim · 2023 · English. Memorandum, 33 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 NATIONAL SENIOR CERTIFICATE GRADE 12 SEPTEMBER 2023 BUSINESS STUDIES P2 MARKING GUIDELINE MARKS: 150 This marking guideline consists of 33 pages. ### Page 2 2 BUSINESS STUDIES P2 (EC/SEPTEMBER 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. For marking and moderation purposes, the following colours are recommended: Marker: Red School moderation: Green District moderation: Orange Provincial moderation: Purple 2. Candidates’ responses must be in full sentences for SECTIONS B and C. However, this would depend on the nature of the question. 3. A comprehensive marking guideline has 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 guideline • Comes from another credible source • Original • A different approach is used NOTE: There is only ONE correct answer in SECTION A. 4. 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.) 5. The word ‘Sub-max.’ is used to facilitate the allocation of marks within a question or sub-question. 6. 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. 7. 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 guidelines. Only the total for each question should appear in the left-hand margin next to the appropriate question number. 8. 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/SEPTEMBER 2023) BUSINESS STUDIES P2 3 9. Correct numbering of answers to questions or sub questions is recommended in SECTIONS 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. 10. No additional credit must be given for repetition of facts. Indicate with an ‘R’. 11. The differentiation between ‘evaluate’ and ‘critically evaluate’ can be explained as follows: 11.1 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.’ √ 11.2 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. 12. The allocation of marks must be informed by the nature of the question, cognitive verb used, mark allocation in the marking guideline and the context of each question. Cognitive verbs, such as: 12.1 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. 12.2 Define, describe, explain, discuss, elaborate, distinguish, differentiate, compare, tabulate, 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. 13. 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/SEPTEMBER 2023) 14. SECTION B 14.1 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. NOTE: 1. This applies only to questions where the number of facts is specified. 2. The above also applies to responses in SECTION C (where applicable) 14.2 If two facts are written in one sentence, award the candidate FULL credit. Point 14.1 above still applies. 14.3 If candidates are required to provide their own examples/views, brainstorm this to finalise alternative answers. 14.4 Use of the cognitive verbs and allocation of marks: 14.4.1 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 guideline to facilitate mark allocation. 14.4.2 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 guideline. 14.5 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). 15. SECTION C 15.1 The breakdown of the mark allocation for the essays is as follows: Introduction Maximum: Content 32 Conclusion Insight 8 TOTAL 40 Copyright reserved Please turn over ### Page 5 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 5 15.2 Insight consists of the following components: Layout/Structure Is there an introduction, a body, and a conclusion? 2 Analysis and Is the candidate able to break down the question into 2 interpretation headings/ subheadings/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 there relevant decisions/facts/responses made 2 based on the questions? Marks to be allocated using this guide: 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 questions, but one sub-question of the question 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 that 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 awarded 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/SEPTEMBER 2023) 15.3 Indicate insight in the left-hand margin with a symbol e.g. ('L, A, -S and/or O'). 15.4 The breakdown of marks is indicated at the end of the suggested answer/ marking guideline to each question. 15.5 Mark all relevant facts until the SUB MAX/MAX mark in a subsection has been attained. Write SUB MAX/MAX after maximum marks have been obtained but continue reading for originality “O”. 15.6 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 15.7 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 subheadings are encouraged and contribute to insight (structuring/logical flow/sequencing) and indicate clarity of thought. (See MARK BREAKDOWN at the end of each question.) 15.8 If the candidate identifies/interprets the question INCORRECTLY, then he/she may still obtain marks for layout. 15.9 If a different approach is used by candidates, ensure that the answers are assessed according to the mark allocation/subheadings as indicated in the marking guideline. 15.10 15.10.1 Award TWO marks for complete sentences. Award ONE mark for phrases, incomplete sentences and vague answers. 15.10.2 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 businesses 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. 15.11 With effect from November 2017, the maximum of TWO (2) marks for facts shown as headings in the marking guidelines, 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/SEPTEMBER 2023) BUSINESS STUDIES P2 7 SECTION A QUESTION 1 1.1 1.1.1 D √√ 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 reinstatement √√ 1.2.2 tables √√ 1.2.3 language √√ 1.2.4 tax evasion √√ 1.2.5 aggressive √√ (5 x 2) (10) 1.3 1.3.1 F √√ 1.3.2 D √√ 1.3.3 H √√ 1.3.4 B √√ 1.3.5 A√√ (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/SEPTEMBER 2023) SECTION B Mark the answers to the FIRST TWO questions only. QUESTION 2: BUSINESS VENTURES 2.1 Examples of short-term insurance - Property insurance √ - Money in transit √ - Theft √ - Burglary √ - Fire √ - Any other relevant answer related to the examples of short-term insurance. NOTE: Mark the first THREE (3) only. (3 x 1) (3) 2.2 Aspects that should be considered when designing a multimedia presentation - Start with the text which forms the basis of the presentation. √√ - Select the relevant 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 aspects that should be considered when designing a multimedia presentation. Max. (4) Copyright reserved Please turn over ### Page 9 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 9 2.3 Calculation of compound interest Option 1 FORMULA: P x (1 + r) n √ R15 000 x (1+8/100)2 √ R15 000 x (1,08)2 = R17 496 √ Total interest = R17 496 – R15 000 √ = R2 496 √√√√ OR Option 2 Year 1: R15 000 x 8% = R1 200 √ Year 2: R16 200 √ x 8% = R1 296 √ Total interest = R2 496 √√√√ NOTE: 1. Award full marks (4) if the answer is correct and no workings are shown. 2. If formula and workings were shown correctly, but the final answer is wrong, award a maximum of THREE (3) marks. 3. If the workings and the answer are incorrect, award a maximum of ONE mark for the correct formula. Max. (4) 2.4 Importance of insurance for businesses - Transfers the risk from the business/insured √ to an insurance company/insurer. √ - Transfer of risk is subject to the terms and conditions √ of the insurance contract. √ - Protects businesses against theft/loss of stock and/or damages √ caused by natural disasters such as floods, storm damage. √ - Businesses will be compensated for insurable losses, √ such as the destruction of property through fire. √ - Business’ assets such as vehicles/equipment/buildings need to be insured √ against damage and/or theft. √ - Businesses are protected against the loss of earnings, √ such as strikes by employees which may result in losses worth millions. √ - Protects businesses √ against dishonest employees. √ - Life insurance can be taken on the life of partners in a partnership√ to prevent unexpected loss of capital. √ - Should the services of key personnel be lost due to accidents/ death, √ the proceeds of an insurance policy can be paid out to the business/beneficiaries. √ - Replacement costs for damaged machinery/equipment are very high, √ therefore insurance can reduce/cover such costs. √ - Protects businesses from claims made by members of the public √ for damages that businesses are responsible for. √ - Protects businesses against losses √ due to death of a debtor. √ - Any other relevant answer related to the importance of insurance for businesses. Max. (6) Copyright reserved Please turn over ### Page 10 10 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 2.5 Presentation 2.5.1 Visual aid from the scenario Hand-outs √√ (2) Motivation She distributed hard copies of the sales figures to them before the start of her presentation. √ NOTE: Do not award marks for motivation if the visual aid was incorrectly identified. (1) Max. (3) 2.5.2 Positive impact of handouts as a visual aid - Meaningful handouts may be handed out at the start of the presentation √ to attract attention/encourage participation. √ - Notes/hard copies of the slide presentation can be distributed at the end of the presentation √ as a reminder of the key facts of the presentation. √ - It is easy to update handouts √ with recent information/ developments. √ - Notes may be compared with electronic slides √ to validate the accuracy of the information. √ - Extra information, e.g. contact details/price lists may be handed out √ to promote the services of the business. √ - Useful information for improving the next presentation may be obtained, √ when the audience completes feedback questionnaires after the presentation. √ - Any other relevant answer related to the positive impact of handouts as a visual aid. NOTE: Accept relevant facts if the visual aid was incorrectly identified as an answer in QUESTION 2.5.1. Max. (4) Copyright reserved Please turn over ### Page 11 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 11 2.6 Difference between management and leadership MANAGEMENT LEADERSHIP - Guides human √ behaviour. √ - Influences human √ behaviour. √ - Communicates through management - Communicates by means of functions, √ such as line function. √ interaction √/behaviour/vision/values/ charisma. √ - Administers plans/programs/ tasks √ - Innovates/Encourage new ideas √ to reach targets. √ to increase productivity. √ - Controls systems √ and procedures - Inspires staff to trust √ and support to get the job done. √ each another. √ - Focuses on how √ and when. √ - Focuses on what √ and why. √ - Focuses on the bottom line √/ short/ - Focuses on the horizon √ /long medium term. √ term. √ - A person becomes a manager - Leaders are born with natural/ √ because of the position √ in which instinctive leadership skills. √ he/she is appointed. √ - Manages the process of getting - Guides/Leads people √ to become things done √ by exercising active participants. √ responsibility. √ - Managers have power √ because of - Leaders have power/ the position of authority into which influence √ because of his/her they are appointed. √ knowledge/skills/intelligence. √ - Enforce rules √ on subordinates. √ / - Always trying to find more efficient Ensure that tasks √ are completed. √ ways √ of completing tasks. √ - Instructional √ in their approach. √ - Motivational/Inspirational √ in their approach √ - Task √ orientated. √ - People √ orientated. √ - Manage by planning √/ organising/ - Lead by example √ /trust/respect. √ leading/control. √ - Does things √ right. √ - Does the right √ things. √ - Any other relevant answer related to - Any other relevant answer related to management. leadership. Sub-max (2) Sub-max (2) NOTE: 1. The answer does not have to be in tabular format. 2. The differences do not have to link, but must be clear. 3. Award a maximum of TWO (2) marks if the difference is not clear/Mark either management or leadership only. Max. (4) Copyright reserved Please turn over ### Page 12 12 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 2.7 Criteria contributing to the success and/or failure of a public company 2.7.1 SUCCESS FACTORS AND/OR FAILURE FACTORS - Managed by at least three - Directors may not have a direct competent/ √ highly skilled interest in the company, √ directors. √ which can hamper growth and profit maximisation. √ - The management of the - Directors may not be motivated company can improve √ since to work very hard √ because directors are accountable to shareholders decide on the shareholders. √ directors' remuneration. √ - Directors bring creative - Large management structure √ ideas √ which encourage can result in decision making innovation/high productivity/ taking time. √ efficient in the company. √ Management Management - Shareholders can vote √ for/ - Some shareholders may not appoint the most capable exercise their voting rights √ directors to manage their resulting in choosing the wrong company. √ person as a director. √ - Management may be open to legal challenges √ if their reports do not comply with King Code III. √ - Directors’ fees increase the company's expenses √ which reduces net profit. √ - Any other relevant answer - Any other relevant answer related to how management related to how management as as a criteria could contribute a criteria could contribute to the to the success of a public failure of a public company. company. Sub-max. (2) Sub-max. (2) Max. (4) Copyright reserved Please turn over ### Page 13 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 13 2.7.2 SUCCESS FACTORS AND/OR FAILURE FACTORS - Procedures to form a public - Formation procedures are time company have been simplified √ consuming/complicated/ by the new Companies Act 71 of expensive, √ as many legal 2008. √ documents need to be prepared/submitted. √ - Limited liability allows for - High formation/ establishment greater risk-taking, √ which may expenses √ require large start- lead to growth of the up capital. √ business. √ - Auditing of financial statements - Annual audit of financial gives shareholders the statements √ is costly. √ assurance √ that the business is being properly managed √ and supports raising additional finance. √ Legislation - The company and its owners/ - If a public company does not (shareholders) are separate comply with legislation, √ its entities, √ which may encourage licence maybe withdrawn by more people to join the company the Companies and Intellectual √ Property Commission (CIPC). √ - Publishing of financial statements may discourage √ investors to invest in underperforming companies. √ - A public company can benefit - Directors’ fees increase the from government company’s expenses √ which programmes √ if they comply reduces the cash flow/net with the relevant legislation. √ profit. √ - Companies which comply with legislation √ build a positive image/may attract investors. √ - Continuity of existence √ due to the legal personality of the company. √ - Any other relevant answer - Any other relevant answer related how legislation as a related to how legislation as a criterion could contribute to the criterion could contribute to the success of a public company. failure of a public company. Sub-max. (2) Sub-max. (2) NOTE: 1. The answer does not have to be in tabular format. 2. Mark either success AND/OR failure of EACH factor. Max. (4) Copyright reserved Please turn over ### Page 14 14 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 2.8 Situations in which the laissez-faire/free reign leadership style can be applied This leadership style can be applied when: - Subordinates are experts and know what they want/can take responsibility for their actions. √√ - The leader is very busy, and delegation of tasks will increase productivity. √√ - Team members need to improve/develop leadership skills. √√ - Employees are highly experienced and know more about the task than the leader. √√ - Any other relevant answer related to situations in which the laissez-faire/ free reign leadership style can be applied in the workplace Max. (4) [40] BREAKDOWN OF MARKS QUESTION 2 MARKS 2.1 3 2.2 4 2.3 4 2.4 6 2.5.1 3 2.5.2 4 2.6 4 2.7 8 2.8 4 TOTAL 40 Copyright reserved Please turn over ### Page 15 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 15 QUESTION 3: BUSINESS ROLES 3.1 Human rights in the workplace - Privacy √ - Dignity √ - Equity √ - Freedom of speech and expression √ - Information √ - Safety, security and protection of life √ NOTE: Mark the first TWO (2) only. (2 x 1) (2) 3.2 Benefits of diversity in the workplace - Diversity in the workforce improves morale/motivation. √√ - Businesses with a diverse workforce are more likely to have a good public image and attract more customers. √√ - A diversified workforce can give businesses a competitive advantage, as they can render better services. √√ - Workforce diversity improves the ability of a business to solve problems/ innovate/cultivate diverse markets. √√ - A diversified workforce stimulates debate on new/improved ways of getting things done. √√ - Employees demonstrate greater loyalty to the business because they feel respected/accepted/understood. √√ - Employees value each other’s diversity and learn to connect/communicate across lines of differences. √√ - Employees from different backgrounds can bring different perspectives to the business. √√ - Employees represent various groups and are therefore better able to recognise customer needs/satisfy consumers. √√ - Being respectful of differences/demonstrating diversity makes good business sense/improves profitability. √√ - Diverse businesses ensure that its policies/practices empower every employee to perform at his/her full potential. √√ - Stakeholders increasingly evaluate businesses on how they manage diversity in the workplace. √√ - Any other relevant answer related to the benefits of diversity in the workplace. Max. (6) Copyright reserved Please turn over ### Page 16 16 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 3.3 Responsibilities of employees in promoting health and safety in the workplace 3.3.1 Responsibilities of the employees in promoting human health and safety in the workplace from the scenario - The employees of ZB take care of their own health and safety when manufacturing bricks. √ - They report all accidents, that have occurred, to the management by the end of the day. √ NOTE: 1. Mark the first TWO (2) only. 2. Only award marks for the responses that are quoted from the scenario. (2 x 1) (2) 3.3.2 Other responsibilities of the employees in promoting human health and safety in the workplace - Use prescribed safety equipment. √√ - Report unsafe/unhealthy working conditions to the relevant authorities/ management. √√ - Inform the employer of any illness that may affect the ability to work. √√ - Co-operate and comply with the rules and procedures, e.g. wear prescribed safety clothing. √√ - Any other relevant answer related to other responsibilities of ZB employees in promoting human health and safety in the workplace. NOTE: Do not award marks for responses quoted in QUESTION 3.3.1. Max. (4) 3.4 Challenges posed by abuse of working time - It may result in many employees √ often abusing working time. √ - Abuse of working time could result in losing customers √ or not meeting the deadlines/conflict amongst workers. √ - Wasting time costs the business money √ and affects productivity. √ - Abuse of work time results in a decline in profits √ which could damage the financial wealth of the business. √ - Effective customer services may not be rendered √ resulting in the negative image of the business. √ - Any other relevant answer related to how abuse of working time as a type of unprofessional business practice poses challenges to businesses. Max. (6) Copyright reserved Please turn over ### Page 17 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 17 3.5 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) 3.6 Problem-solving 3.6.1 Problem-solving techniques from the scenario PROBLEM-SOLVING MOTIVATIONS TECHNIQUES 1. Force-field analysis √√ They considered all the pros and cons for changing to the new system. √ 2. Delphi technique √√ BT also requested a panel of experts to do research on the challenges of this system. √ Sub-max. (4) Sub-max. (2) NOTE: 1. The answer does not to be in tabular format. 2. Award marks the problem-solving techniques even if the quotes were incomplete. 3. Do not award marks for motivations if the problem- solving techniques were incorrectly identified. Max. (6) Copyright reserved Please turn over ### Page 18 18 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 3.7 Correct procedure to deal with grievances in the workplace - An aggrieved employee must verbally report the incident/grievance √ to his/ her supervisor/manager. √ - Supervisor/manager needs to resolve the issue √ within three to five (3 to 5) working days. √ - Should the employee and supervisor not be able to resolve the grievance, √ the employee may take it to the next level of management. √ - The employee may move to a more formal process √ where the grievance must be lodged in writing/completes a grievance form. √ - The employee must receive a written reply √ in response to the written grievance. √ - A grievance hearing/meeting must be held √ with all relevant parties present. √ - Minutes of the meeting must be recorded √ and any resolution passed must be recorded on the formal grievance form. √ - Should the employee not be satisfied, √ then he/she could refer the matter to the highest level of management. √ - Top management should arrange a meeting √ with all relevant parties concerned. √ - Minutes of this meeting should be filed/recorded √ and the outcome/decision must be recorded on the formal grievance form. √ - Should the employee still not be satisfied, he/she may refer the matter to the CCMA √ who will make a final decision on the matter. √ - The matter can be referred to the Labour Court on appeal √ if the employee is not satisfied with the decision taken by the CCMA. √ - Any other relevant answer related to the correct procedure to deal with grievances in the workplace. NOTE: The procedure may be in any order. Max. (6) 3.8 Ways in which professional, responsible, ethical and effective business practice should be conducted - Mission statement should include the values of equality/respect. √√ - Businesses should develop equity programmes/promotes strategies to ensure that all employees are treated equally regardless of status/rank/ power. √√ - Treat workers with respect/dignity by recognising work well done/the value of human capital. √√ - 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 such as 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. √√ - Hire honest/trustworthy accountants/financial officers with good credentials. √√ Copyright reserved Please turn over ### Page 19 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 19 - Regular/Timeous payment of taxes. √√ - All workers should have access to equal opportunities/ positions/ resources. √√ - Ensure that employees work in a work environment that is conducive to safety/ fairness/free of embarrassment. √√ - Employers and employees need to comply with legislation with regard to equal opportunities/human rights in the workplace. √√ - Training/ Information/Business policies should include issues such as diversity/discrimination/harassment. √√ - Employers should respond swiftly and fairly to reported incidents of discrimination in the workplace. √√ - Orders/Tasks should be given respectfully and allow the recipient/employee to have a say in the way that task should be performed. √√ - Draw up a code of ethics/conduct. √√ - On-going 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 practice should be conducted. Max. (4) BREAKDOWN OF MARKS QUESTION 3 MARKS 3.1 2 3.2 6 3.3.1 2 3.3.2 4 3.4 6 3.5. 4 3.6.1 6 3.7 6 3.8 4 TOTAL 40 Copyright reserved Please turn over ### Page 20 20 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) QUESTION 4: MISCELLANEOUS TOPICS BUSINESS VENTURES 4.1 Leadership theories - Situational leadership√ - Transitional/Transformational leadership√ - Leaders and followers√ NOTE: Mark the first TWO (2) only. (2 x 1) (2) 4.2 Principles of insurance 4.2.1 Principles of insurance from the scenario PRINCIPLES OF MOTIVATIONS INSURANCE 1. Utmost good faith √√ KT was honest when entering into the contract by disclosing all relevant facts. √ 2. Security √√ Kamesh also insured himself in the event of loss of life. √ Sub-max. (4) Sub-max. (2) NOTE: 1. The answer does not to be in tabular format. 2. Award marks the principles of insurance even if the quotes were incomplete. 3. Do not award marks for motivations if the principles of insurance were incorrectly identified. Max. (6) 4.3 Factors to be considered when preparing for a presentation - Presenter should establish a clear purpose/intentions/objectives √ and main points of the presentation. √ - Main aims √ captured in the introduction/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 √ that will consolidate the information/facts to be conveyed to the audience. √ - Find out about the venue for the presentation, √ e.g. what equipment is available/appropriate/availability of generators as backup to load shedding. √ - Consider the timeframe √ for the presentation, e.g. fifteen minutes allowed. √ Copyright reserved Please turn over ### Page 21 (EC/SEPTEMBER 2023) BUSINESS STUDIES P2 21 - Presenter should 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 must be considered when preparing for a presentation. Max. (6) 4.4 Impact of fixed deposits as a form of investment Positives/Advantages - Interest is earned at a fixed rate √ regardless of changes in the economic climate. √ - The period of investment √ can be over a short/medium/long term. √ - Investors can choose the investment period √ that suits them. √ - The principal amount plus interest earned √ is paid out on the maturity date. √ - Ensures financial discipline as investors cannot withdraw their funds √ before the maturity date. √ - Investors earn a better return on investment √ than on an ordinary savings account. √ - It has a low risk/safe investment √ as investors are guaranteed of the final payment. √ - The higher the principal amount/the longer the investment period, √ the higher the interest rate offered by a financial institution. √ - Any other relevant answer related to the positive impact/advantages of fixed deposits as a form of investment. AND/OR Negatives/Disadvantages - The investor cannot withdraw their funds √ before the maturity date. √ - The investor can be penalised √ for any early withdrawals. √ - Low returns √ compared to other investments. √ - May not outperform the effect of inflation √ over the long-term. √ - Any other relevant answer related to the negative impact/ disadvantages of fixed deposits as a form of investment. Max. (6) BUSINESS ROLES 4.5 King Code principles for good corporate governance - Transparency √ - Accountability √ - Responsibility √ NOTE: Mark the first TWO (2) only. (2 x 1) (2) 4.6 Social responsibility and CSR 4.6.1 Examples of CSI projects from the scenario - MM provides adult basic education. √ - They also invest in job creation projects in their community. √ NOTE: 1. Mark the first TWO (2) only. 2. Only award marks for the responses that are quoted from the scenario. (2 x 1) (2) Copyright reserved Please turn over ### Page 22 22 BUSINESS STUDIES P2 (EC/SEPTEMBER 2023) 4.6.2 Relationship between social responsibility and triple bottom line Profit/Economic √ - Triple Bottom line means that businesses should not only focus on profit/charge high prices but should also invest in CSI projects. √ - Businesses should not make a profit at the expense of its community. √ - Any other relevant answer related to the relationship between social responsibility and profit/economic as a triple bottom line element. Sub-max. (2) People/Social √ - Business operations should not have a negative impact on/exploit people/ employees/customers/community. √ - Businesses should engage/invest in sustainable community programmes/projects that will benefit/uplift communities. √ - Improve the lifestyle/quality of life of their human resources/ employees. √ - Any other relevant answer related to the relationship between social responsibility and people/social as a triple bottom line element. Sub-max. (2) Planet/Environment √ - Businesses should not exhaust resources/harm the environment for production/profit purposes. √ - They may support energy-efficient/eco-friendly products/production methods. √ - Recycle/Re-use waste such as packaging from recycled material. √ - Any other relevant answer related to the relationship between social responsibility and planet/environment as a triple bottom line element. Sub-max. (2) Max. (6) 4.7 Dealing with poverty as a diversity issue - Businesses should employ people √ from different socio-economic backgrounds/status. √ - Give previously disadvantaged individuals a chance to be educated √ by incorporating Adult Basic Education and Training (ABET) into training programmes of the business. √ - Train all employees √ so that they can be able to deal with retrenchment. √ - Reward employees √ for services well-rendered. √ - Ensure that the prices of products are affordable √ for the identified consumer market. √ - Sponsor learnerships for unemployed people √/use grants received from SETAs to train more unemployed people from local communities. √ Max. (6) Copyright reserved Please turn over Text truncated here. 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