Student Number‐Please this assignment consists of .docx

Student Number: ‐
Please this assignment consists of SA Type questions, Case
Studies about Management, Financial management,
Entrepreneurship, Accounting. If your’e not comfortable with
this don't attempt i need complete descriptive answers not short
descriptions.
The main source for this assignment
TheEntrepreneurasaManager
Prescribed Text book
Niewenhuizen, C. (ed.), 2011, Basics of Entrepreneurship
Second Edition. Cape Town: JUTA
isbn 978-0-70218-859-6
Or maybe this would help as i do not have the text book it
includes the case studies

http://books.google.co.za/books?id=i625lP3TP8cC&pg=PA336
&lpg=PA336&dq=business+plan+for+Ntombi%E2%80%99s+Mi
lk+Market&source=bl&ots=X1OG3MtjFn&sig=cOD4jZGuckyQ
2cJOoNqNu9r32-
g&hl=en&sa=X&ei=ll17UuaXB8qUhQfz04GIBA&ved=0CE8Q6
AEwAQ#v=onepage&q=business%20plan%20for%20Ntombi%E
2%80%99s%20Milk%20Market&f=false
or
http://books.google.co.za/books?id=GcNWAmRkWskC&pg=PA
148&lpg=PA148&dq=business+plan+for+Ntombi%E2%80%99s
+Milk+Market&source=bl&ots=TlVAUuaB8f&sig=OBrJTtlZDm
XDb6Hx0DhhUdHbujk&hl=en&sa=X&ei=ll17UuaXB8qUhQfz0
4GIBA&ved=0CFIQ6AEwAg#v=onepage&q=business%20plan
%20for%20Ntombi%E2%80%99s%20Milk%20Market&f=false
SECTIONA

/50
SECTIONB
/75
SECTIONC
/75
TOTAL
/200
MAN681-1-1

1
Student Number: ‐
SUMMATIVEASSESSMENT3(MODULES7&8):ENTREPRENE
URSHIP
SECTIONA:SHORTQUESTIONS
Question1:SelectfromcolumnAthecorrectanswertomatchcolumnB
.
Match the concepts in column A with the descriptions in column
B:
A
Statement:B
Nr:
YourAnswers:
a) Economics

1.1 Business cycle, inflation, and recession
1.1
e).
b) Micro economics
1.2 Economy as a whole, supply and demand for money, capital
and commodities
1.2
d).
c) Economic factors
1.3 Individual agents such as households and businesses
1.3
b).
d) Macro economics

1.4 Production, distribution, trade and consumption of goods
and services
1.4
c).
e) Free Market economy
1.5 All transfers of money, goods and services are devoid of
coercion and theft
1.5
a).
Total question 1
/5
.
Match the factors that influence the form of business ownership
in column A with the descriptions in column B:

A
Statement:B
Nr:
YourAnswers:
a) Liability and accountability
2.1 Lifespan of the business.
2.1
b).
b) Continuity
2.2 Separate (from owner) legal entity.
2.2
c).

c) Legal personality
2.3 Statutory requirements that must be complied with.
2.3
a).
d) Legal requirements
2.4 Requirements on how financial record must be kept
2.4
e).
e) Accounting requirements
2.5 Responsibility for possible debts and other legal obligations
of a business.
2.5
d).

Total question 2
/5
2
(
3
)
Student Number:
‐

Question3:Readeachstatementcarefullythenstatetrueorfalseinthes
paceprovided.
Nr:
Statement:
Your
3.1
An entrepreneur is a high risk-taker who will enthusiastically
embrace a new or original concept that has not been tried
before.
True
3.2
Large corporate companies, in most of the successful world
economies are the biggest contributors to job creation.
True
3.3
Entrepreneurs have the freedom to choose and make their own
decisions—they answer to no-one.

True
3.4
All SMMEs are owned or managed by entrepreneurs.
True
3.5
Entrepreneurs are also small business managers as they manage
their own enterprises to ensure permanence and growth.
True
3.6
Innovation deals with finding an idea for a new product.
True
3.7
A viability study is an in-depth investigation of the profitability
of a business idea to be converted into a business enterprise.
False
3.8

A feasibility study largely focuses on the entrepreneur’s ability
to convert an idea into a small business enterprise.
False
3.9
General Motors practises niche marketing when it sells specific
models for different income and age groups
True
3.10
Nike practises segment marketing by selling athletic gear for
basketball, running, and soccer.
True
Total question 3
/10
Question4:ChoosetheCORRECTanswerbyselectingaorb.
Nr:
Statement:

YourAnswers
4.1
‘Customised marketing’ involves …
a) Tailoring brands and promotions to the needs and wants of
local customer groups.
b) Tailoring products and marketing programs to the needs
and preferences of individual customers.
b).
4.2
Demographic segmentation consists of ...
a) Dividing the market into groups based on variables such as
income and nationality.
b) Dividing the market into groups based on variables such as
social class and life style.
a).
4.3

Shopping products are products that ...
a) Consumers consume regularly and purchase frequently.
b) Consumers spend more time on to locate since they are
relatively more expensive.
b).
4.4
A referenced price serves as an ___ standard against which the
customer evaluates other prices.
a) internal or
b) external
b).
4.5
When some businesses set high initial prices to attract first-time
buyers who are willing to pay a premium price to own the new
product, it is called ...
a) Penetration pricing

b) Price skimming.
b).
Total question 5
/5
Student Number: ‐
Question5:Choosetheappropriatewordorconceptforthefollowings
tatements.Selectonlyonefromthelistbelowforeachstatementandwr
itedownthecorrespondingletter(a/b/cetc.)intheanswercolumn.
a. Advertising
b. Sponsorship
c. Publicity
d. Sales promotion
e. Personal selling
Nr:
Statement:
YourAnswers:

5.1
News reports about a new, tasty, nutritious dieting product.
a).
5.2
Designed to intensify the efforts of the sales force and make it
easier to generate sales.
d).
5.3
Non-personal, paid marketing message.
c).
5.4
Primarily involves the relationship and interaction between
buyer and seller.
e).
5.5
Financial support provided by a company in return for the rights

to use the company’s name (brand) and logo in connection with
a specific event
b).
Total question 5
/5
Operationsmanagement:
a. Productivity
b. Capacity
c. Batch production
d. Mass production
e. Job production
Nr:

YourAnswers:
6.1
Manufacturing a number of identical items either to meet a
specific order or to meet a continuous demand.
c).
6.2
Products are made to satisfy a specific order from a customer.
e).
6.3
The efficiency with which an organisation turns production
inputs into outputs.
a).
6.4
The greatest possible workload that a business can handle
within a certain period.
b).
6.5

Manufacturing the same type of product to meet the continuous
demand for that specific product.
d).
Total question 6
/5
4
Student Number: ‐
Question7: Choose the CORRECT answer by selecting aorb.
Nr:
Statementorquestion:
Nr:
YourAnswers
7.1

One of the internal factors that influence Human resource
planning is ... a) The nature of the work or b) Trade union
requirements
7.1
a).
7.2
…refers to the situation when people leave the company, for
whatever reason. a) Net change or b) Attrition
7.2
a).
7.3
… refers to the way tasks are combined to form complete jobs
a) Job enrichment or b) Job design
7.3

b).
7.4
Aptitude tests are designed to …
a) Measure the candidate’s ability to learn specific jobs or
skills or
b) Determine how well the candidate is able to do the job.
7.4
b).
7.5
Choosing the most suitable candidate from a pool of candidates
is called ... a) screening or b) selection
7.5
b).
Total question 7
/5

Question8: Match the concepts in column A with the
descriptions in column B:
A
Statement:B
Nr:
YourAnswers:
a) Current asset
8.1 Return on investment
8.1
c).
b) Capital
8.2 The ability of an enterprise to pay off all its liabilities if it
should stop to operating at any given time.

8.2
e).
c) Profitability
8.3 Money needed to acquire vehicles, manufacturing
equipment, etc. Sometimes called liabilities.
8.3
b).
d) Liquidity
8.4 Owned by the enterprise and can be turned into cash within
12 months
8.4
a).
e) Solvency
8.5 The ability of an enterprise to pay its short-term financial
commitments continuously and on time.

8.5
d).
Total question 8
/5
paceprovided.
Nr:
Statement:
YourAnswers
9.1
Return on equity indicates the profitability of the business as a
whole.
False

9.2
Trade credit is a form of current capital.
True
9.3
A profitable small business can go bankrupt as result of
liquidity problems.
True
9.4
Factoring, a form of medium-term finance, is not readily
available to small businesses.
True
9.5
Mortgage bonds can be used to acquire furniture and fittings for
a business.
True
Total question 9
/5

TOTAL:SECTIONA
/50
5
URSHIP
SECTIONB:APPLICATION/ESSAYQUESTIONS
Nr:
Question:
Mark:
9.

Generate a business idea from everyday activities to start your
own micro business.
a. Explain what product/service you will be providing. What
will the chief activities of this business be? (5)
b. Why do you want to pursue this idea? Do you have the
support and motivation to pursue such an idea? Motivate your
answer. (3)
c. Discuss your target market — who are your customers? (3)
d. Do you have the skills and means to meet your customers’
needs? (3) e. How will you market your idea to your
customers? (3)
f. Explain the difference between the feasibility and viability
of the business idea. (3)
15
10.
Formulate a mission statement as well as 4 long-term objectives
for your business.

10
11.
Prepare a cash budget for the first 2 months of your own
business
10
12.
a. Using the chief activities of your business, do a job
analysis and identify possible jobs / positions in your business
(5)
b. Prepare a job description and job specification for one of
these positions (10).
15

13.
Discuss five important considerations when choosing the right
sources and forms of finance.
10
14.
Why is a thorough knowledge and understanding of financial
management so important for an entrepreneur? Your explanation
should also include how financial management relates to and
integrates with the other functional areas of a business.
10
15.
Briefly explain five unique problems that small business
entrepreneurs face in obtaining finance.
5

TOTAL:SECTION B
75
Business idea
After conducting a small research locally, a business
opportunity emerged; starting a small distribution and supply
company. The local area is full of small and medium sized retail
stores that sell goods and services directly to the consumer,
however they all suffered from one major problem.; delivery of
their stock. Most of the manufacturing companies are located in
the outskirts of the local business centre. This means that the
retailers have to get their stocks from different manufacturers at
their own expense. This is because most if not all of the
manufacturing companies have a policy whereby they can only
deliver an order if it is a big quantity; in this case the large
retailers are the only ones that enjoy the service. The motivation
behind the idea is because it fills in a lacuna and there is less
competition as there is no other small distribution and supply
companies.
As a preventive measure against loss of stock, the
company will strictly deal with the supply of consumer durables
that are non perishable; they will include household cleaning
agents and personal consumables. The legal requirements to
start a company is that there should be at least a mini-lorry, a
licensed driver, a small office, funds for the purchase of the
initial stock and in case of expansion a small go down.
Marketing for the service will be done face to face by
communicating to the retailers.

SUMMATIVE ASSESSMENT 3 (MODULES 7 & 8):
MANAGEMENT PRINCIPLES
SECTION C : CASE STUDIES
C 1
Martha Mazibuku started a small business (registered as a close
corporation in 2009) which sells computer equipment in her
township. Martha did an A+ Computer technician course 4 years
ago and worked for a large computer company for about 6 years

before embarking on this venture. She took a loan of R200 000
from Khula and used all her savings to convert an old
hairdressing salon into a computer shop and to buy her initial
stock.
There is a great need for her products and services. High-school
children and students living in the township are her main
customers. Although she started by working on her own, she
now employs one technician and one sales lady.
Through hard work and good customer service her turn-over was
R550 000 for the past year and it is her vision to grow her
business into the preferred supplier of computer hardware and
services in her neighbourhood. She started planning to expand
her business and wants to achieve a turn-over of at least R750
000 in the next 12 months.
Martha realises that she must take the variables in the external
environment into account. However, she focuses only on the
variables in the market environment and does not consider those
in the macro environment. At the moment her only competitors
are two computer technicians who are doing PC repair work in
the area.
QUESTIONS: CASE STUDY 1
Nr:

Question:
Mark:
16.
a. Do you regard Martha as an entrepreneur? Please provide
reasons for your point of view.
b. Do you regard her business as a micro, small or medium
enterprise? Please provide a reason for your answer.
3
2
17.
a. Name the variables in the macro environment that may
have an influence on her business.
b. Explain to Martha, with the help of suitable examples,
which of these variables will be more likely to influence the
operation and success of her business.

6
4
18.
a. Explain a creativity technique that you can use to help
Martha to generate more business ideas.
b. Further develop Martha’s business idea by using a bow-tie
diagram.
5
5
19.
a. What are the questions that Martha needs to answer when
formulating a mission statement for her business?
b. Formulate a mission statement for Martha’s business.

7
3
Total case study 1
35
7
Please refer to the business plan for Ntombi’s Milk Market
(Appendix A)
of your prescribed book ( pages 333—352) when answering the
following questions:
Nr:
Question:

Mark:
20.
a. Explain what a viable business idea is.
b. If the average Mamelodi household (Average income =
R3000 p.m.) spends 2% of their monthly income on milk, and
the business- to- business market amounts to R80 000 per
month, calculate the potential rand value of Ntombi’s Milk
Market’s (NMM) market.
c. Define indirect costs and give 3 examples of NMM’s
indirect costs
2
3
3
21
a. Calculate the break-even point for NMM.

b. How can NMM lower their break-even point? Explain at
least two ways.
4
3
22.
a. Classify all NMM’s products in terms of the consumer
product category.
b. To which category (according to your text book) of the
product-service mix does NMM belong? Give a reason for your
answer
5
2
23
a. What factors may have affected the pricing of NMM’s
products?
b. What pricing objective do you think NMM has adopted?
Give a reason for your answer.

4
2
24
a. Discuss the types of channels of distribution that a
business can use.
b. What type of channel does NMM use? Please motivate
your answer.
5
2
25
Calculate the Re-order point (ROP) for a small dairy shop that
buys milk from NMM. The shop has an average monthly
demand of 105 litres of milk. The order lead time is one week
and the safety stock is five litres.
5

Total case study 2
40
TOTAL:SECTION C
75
TOTAL SUMMATIVE ASSIGNMENT 3
200

8
Cost estimation and cost containment are an
important concern for a wide range of for-profit
and not-for-profit organizations offering health-
care services. For such organizations, the accurate
measurement of costs per patient day (a measure
of output) is necessary for effective management.
Similarly, such cost estimates are of significant
interest to public officials at the federal, state,
and local government levels. For example, many
state Medicaid reimbursement programs base
their payment rates on historical accounting
measures of average costs per unit of service.
However, these historical average costs may or
may not be relevant for hospital management
decisions. During periods of substantial excess
capacity, the overhead component of average
costs may become irrelevant. When the facilities
are fully used and facility expansion becomes
necessary to increase services, then all costs,
including overhead, are relevant. As a result,
historical average costs provide a useful basis
for planning purposes only if appropriate
continued I
J

assumptions can be made about the relative
length of periods of peak versus off-peak facility
usage. From a public-policy perspective, a
further potential problem arises when hospital
expense reimbursement programs are based on
average costs per day, because the care needs
and nursing costs of various patient groups can
vary widely. For example, if the care received
by the average publicly supported Medicaid
patient actually costs more than that received by
non-Medicaid patients, Medicaid reimbursement
based on average costs would be inequitable to
providers and could create access barriers for
Medicaid patients.
As an alternative to accounting cost estimation
methods, one might consider using engineering
techniques to estimate nursing costs. For example,
the labor cost of each type of service could be
estimated as the product of an approximation of
the time required to perform each service and the
esÿnated wage rate per unit of time. Multiplying
this figure by an estimate of the frequency of
service gives an engineering estimate of the cost
of the service. A possible limitation to the accuracy
of this engineering cost estimation method is
that treatment of a variety of illnesses often
requires a combination of nursing services. To
the extent that multiple services can be provided
simultaneously, the engineering technique will
tend to overstate actual costs unless the effect of
service "packaging" is allowed for.

Cost estimation is also possible by means of
a carefully designed regression-based approach
using variable cost and service data collected
at the ward, unit, or facility level. Weekly labor
costs for registered nurses (RNs), licensed
practical nurses (LPNs), and nursing aides
might be related to a variety of patient services
performed during a given measurement period.
With sufficient variability in cost and service
levels over time, useful estimates of variable
labor costs become possible for each type of
service and for each patient category (Medicaid,
non-Medicaid, etc.). An important advantage of
a regression-based approach is that it explicitly
allows for the effect of service packaging on
variable costs. For example, ff shots and wound-
dressing services are typically provided together,
this will be reflected in the regression-based
estimates of variable costs per unit.
Long-run costs per nursing facility can be
estimated using either cross-section or time-series
methods. By relating total facility costs to the
service levels provided by a number of hospitals,
nursing homes, or out-patient care facilities
during a specific period, useful cross-section
estimates of total service costs are possible. If
case mixes were to vary dramatically according
to type of facility, then the type of facility
would have to be explicitly accounted for in the
regression model analyzed. Similarly, if patient

mix or service-provider efficiency is expected to
depend, at least in part, on the for-profit or not-
for-profit organization status of the care facility,
the regression model must also recognize this
factor. These factors plus price-level adjustments
for inflation would be accounted for in a time-
series approach to nursing cost estimation.
continued
Table 8.2 Nursing Costs per Patient Day, Nursing Services, and
Profit Status for 40 Hospitals in Southeastern States
Nursing Care Costs Wound
Profit Status (1 = For-profit,
Hospital Per Patient Day Shots IV Therapy Pulse
Taking Dressing 0 = Not-for-profit)
1 300.92 0.29 0.51 3.49 0.27
0
2 283,65 0.15 0.59 3.32 0.62
0
3 329.65 0.26 0.85 3.05 0.29
1
4 343.71 0.23 0.67 2.26 0.57
0
5 389.03 0.47 0.79 2.43 0.68
0
6 299.01 0.41 0.86 2.48 0.66
1
7 437.97 0.42 0.90 3.81 0.49
0
8 284.74 0.25 0.63 2,96 0.34

0
9 404.65 0.50 0.93 2.27 0.60
0
10 293.70 0.27 0.67 2.51 0.61
0
11 264.58 0.38 0.62 2.93 0.39
0
12 299.71 0.14 0.76 2,17 0.37
0
13 323.81 0.16 0.91 2.07 0.47
0
14 434.45 0.27 0.98 3.17 0.68
0
15 374.17 0.48 0.87 3.45 0.33
0
16 304.61 0.43 0.61 2.96 0.30
0
17 354.46 0.09 0.82 3.17 0.54
0
18 340.21 0.12 0.71 3.96 0.41
0
19 348.13 0,04 0.76 3.39 0.70
0
20 353.52 0.41 0.84 2.61 0.41
0
21 309.01 0.22 0.83 2.62 0.47
I
22 406.12 0.32 0.56 4.00 0.59
0
23 309.04 0.40 0.84 3.46 0.50
I
24 406.94 0.29 0.72 3.85 0.65
0
25 317.12 0.14 0.91 2.74 0.29
0

26 369.23 0.15 0.80 3.73 0.72
I
27 300.31 0.31 0.75 3.12 0.26
0
28 402.08 0.37 0.72 2.76 0.73
0
29 434.40 0.40 0.96 2.72 0.72
0
30 272.48 0.35 0.62 2.31 0.37
0
31 316.30 0.08 0.68 3.80 0.33
0
32 351.71 0.34 0.63 3.58 0.53
0
33 359.90 0.46 0.89 3.44 0.46
0
34 331.36 0.39 0.54 3.40 0.56
0
35 335.54 O. 17 0.84 2.58 0.43
I
36 402.26 0.48 0.91 3.75 0.36
0
37 373.28 0.25 0.81 3.49 0.53
0
38 440.67 0.16 0.86 3.34 0,68
0
39 262.83 0.43 0.51 3.05 0.43
I
40 333.86 0.45 0.82 3.59 0.33
I
Average 344.98 0.30 0.76 3.09 0.49
0.20

1. Build a regression model. You must decide which one of the
variables in the case is the dependent variable (justify your
choice). You
must decide whether to use a simple or a multiple regression
(justify
your choice). This includes justifying whether to include or not
include
each of the other variables as independent variables in your
regression
model. You must also decide whether to use a linear or non-
linear
model (justify your choice). Do some research!
2. Estimate your regression model (excel is acceptable). In
addition you
must describe and interpret each of the coefficient(s) of the
independent
variable(s) and whether they have the expected signs. You must
also
explain how well the model explains the variability in the
dependent
variable.
3. Conduct the hypothesis tests shown in the class notes. No
short cuts.
Student Number: ‐

SECTION A
/50
SECTION B
/75
SECTION C
/75
TOTAL
/200
MAN681-1-1

1
Student Number: ‐
ENTREPRENEURSHIP
SECTION A: SHORT QUESTIONS
Question 1: Select from column A the correct answer to match
column B.
B:
A
Statement: B

Nr:
Your Answers:
a) Economics
1.1
b) Micro economics
1.2 Economy as a whole, supply and
demand for money, capital and
commodities
1.2

c) Economic factors
1.3 Individual agents such as
households and businesses
1.3
d) Macro economics
1.4 Production, distribution, trade and
consumption of goods and services
1.4

1.5 All transfers of money, goods and
services are devoid of coercion and theft
1.5
Total question
1
/5
Question 2: Select from column A the correct answer to match
column B.
in column A with the
A
Statement: B

Nr:
Your
Answers:
a) Liability and
accountability
2.1
b) Continuity
2.2

2.3 Statutory requirements that must be
complied with.
2.3
2.4 Requirements on how financial record
must be kept
2.4
e) Accounting
requirements
2.5 Responsibility for possible debts and

other legal obligations of a business.
2.5
Total question
2
/5
2
Student
Number:
‐
Question 3: Read each statement carefully then state true or

false in the space provided.
Nr:
Statement :
Your
3.1
embrace a
new or original concept that has not been tried before.
3.2
economies
are the biggest contributors to job creation.

3.3
3.4
3.5
their own
enterprises to ensure permanence and growth.
3.6

3.7
of a
business idea to be converted into a business enterprise.
3.8
to convert
an idea into a small business enterprise.
3.9

3.10
basketball,
running, and soccer.
Total question
3
/10
Question 4: Choose the CORRECT answer by selecting a or b.
Nr:
Statement:

Your
Answers
4.1
local
customer groups.
b) Tailoring products and marketing programs to the needs and
preferences of individual customers.
4.2
income and
nationality.

social class
and life style.
4.3
relatively more
expensive.
4.4
customer
evaluates other prices.
a) internal or

b) external
4.5
buyers
who are willing to pay a premium price to own the new product,
it is called
...
b) Price skimming.
Total question
5
/5
3

Student Number: ‐
Question 5: Choose the appropriate word or concept for the
following statements. Select
only one from the list below for each statement and write down
the corresponding letter (a/b/c
etc.) in the answer column.
a. Advertising
b. Sponsorship
c. Publicity
d. Sales promotion
e. Personal selling
Nr:
Statement :

Your
Answers:
5.1
5.2
easier to
generate sales.
5.3
5.4

buyer and seller.
5.5
to use the
company’s name (brand) and logo in connection with a specific
event
Total question
5
/5
Question 6: Choose the appropriate word or concept for the
following statements. Select

only one from the list below for each statement and write down
the corresponding letter (a/b/c
etc.) in the answer column.
Operations management:
a. Productivity
b. Capacity
c. Batch production
d. Mass production
e. Job production
Nr:
Your Answers:
6.1

specific
order or to meet a continuous demand.
6.2
6.3
inputs into
outputs.
6.4
within a
certain period.

6.5
Total question
6
/5
4
Student Number: ‐
Question 7: Choose the CORRECT answer by selecting a or b.
Nr:

Statement or question:
Nr:
Your Answers
7.1
planning is ... a) The nature of the work or b) Trade
union requirements
7.1
7.2

7.2
7.3
… refers to the way tasks are combined to form
complete jobs a) Job enrichment or b) Job design
7.3
7.4
a) Measure the candidate’s ability to learn specific jobs or skills
or

7.4
7.5
Choosing the most suitable candidate from a pool of
candidates is called ... a) screening or b) selection
7.5
Total question
7
/5
Question 8: Match the concepts in column A with the
A

Statement: B
Nr:
Your
Answers:
a) Current asset
8.1
b) Capital
8.2 The ability of an enterprise to pay off all its liabilities
if it should stop to operating at any given time.

8.2
c) Profitability
8.3
d) Liquidity
8.4 Owned by the enterprise and can be turned into cash
within 12 months
8.4

e) Solvency
8.5 The ability of an enterprise to pay its short-term
financial commitments continuously and on time.
8.5
Total question
8
/5
Question 9: Read each statement carefully then state true or
false in the space provided.
Nr:
Statement :

Your Answers
9.1
whole.
9.2
9.3
liquidity
problems.
9.4

available to small
businesses.
9.5
a
business.
Total question
9
/5
TOTAL: SECTION A
/50

5
ENTREPRENEURSHIP
SECTION B : APPLICATION / ESSAY QUESTIONS
Nr:
Question:
Mark:
9.
own micro
business.
will the chief

activities of this business be? (5)
support and
motivation to pursue such an idea? Motivate your answer. (3)
customers? (3)
f. Explain the difference between the feasibility and viability of
the business
idea. (3)
15
10.
for your
business.

10
11.
business
10
12.
a. Using the chief activities of your business, do a job analysis
and identify
possible jobs / positions in your business (5)
these positions
(10).
15

13.
sources and
forms of finance.
10
14.
management so
important for an entrepreneur? Your explanation should also
include how
financial management relates to and integrates with the other
functional areas
of a business.
10
15.

entrepreneurs
face in obtaining finance.
5
TOTAL:SECTION B
75
6
MANAGEMENT PRINCIPLES
SECTION C : CASE STUDIES
Cඉඛඍඛගඝඌඡ1
corporation in 2009) which

sells computer equipment in her township. Martha did an A+
Computer technician course 4
years ago and worked for a large computer company for about 6
years before embarking on
this venture. She took a loan of R200 000 from Khula and used
all her savings to convert an
old hairdressing salon into a computer shop and to buy her
initial stock.
children and students
living in the township are her main customers. Although she
started by working on her
own, she now employs one technician and one sales lady.
R550 000 for the past
year and it is her vision to grow her business into the preferred
supplier of computer
hardware and services in her neighbourhood. She started
planning to expand her
business and wants to achieve a turn-over of at least R750 000
in the next 12 months.
environment into account.

However, she focuses only on the variables in the market
environment and does not consider
those in the macro environment. At the moment her only
competitors are two computer
technicians who are doing PC repair work in the area.
Nr:
Question:
Mark:
16.
reasons for
your point of view.

enterprise?
Please provide a reason for your answer.
3
2
17.
a. Name the variables in the macro environment that may have
an
influence on her business.
b. Explain to Martha, with the help of suitable examples, which
of these
variables will be more likely to influence the operation and
success of
her business.
6

4
18.
Martha to
generate more business ideas.
diagram.
5
5
19.

7
3
Total case study
1
35
7
Please refer to the business plan for Ntombi’s Milk Market
(Appendix A)
of your prescribed book ( pages 333—352) when answering the
following questions:

Nr:
Question:
Mark:
20.
R3000 p.m.) spends
2% of their monthly income on milk, and the business- to-
business market
amounts to R80 000 per month, calculate the potential rand
value of
Ntombi’s Milk Market’s (NMM) market.

c. Define indirect costs and give 3 examples of NMM’s indirect
costs
2
3
3
21
b. How can NMM lower their break-even point? Explain at least
two ways.
4
3
22.

product category.
product-service
mix does NMM belong? Give a reason for your answer
5
2
23
products?
b. What pricing objective do you think NMM has adopted? Give
a reason for your
answer.
4

2
24
a. Discuss the types of channels of distribution that a business
can use.
b. What type of channel does NMM use? Please motivate your
answer.
5
2
25
buys milk from NMM.
The shop has an average monthly demand of 105 litres of milk.
The order lead time
is one week and the safety stock is five litres.

5
Total case study
2
40
TOTAL:SECTION
C
75
TOTAL SUMMATIVE ASSIGNMENT
3
200
8
Student Number: ‐

SECTIONA
/50
SECTIONB
/75
SECTIONC

/75
TOTAL
/200
MAN681-1-1
1
Student Number: ‐
URSHIP
SECTIONA:SHORTQUESTIONS

.
B:
A
Statement:B
Nr:
YourAnswers:
a) Economics
1.1
b) Micro economics
1.2 Economy as a whole, supply and demand for money, capital
and commodities

1.2
c) Economic factors
1.3 Individual agents such as households and businesses
1.3
d) Macro economics
1.4 Production, distribution, trade and consumption of goods
and services
1.4
1.5 All transfers of money, goods and services are devoid of
coercion and theft

1.5
Total question 1
/5
.
in column A with the descriptions in column B:
A
Statement:B
Nr:
YourAnswers:
a) Liability and accountability

2.1
b) Continuity
2.2
2.3 Statutory requirements that must be complied with.
2.3

2.4 Requirements on how financial record must be kept
2.4
e) Accounting requirements
2.5 Responsibility for possible debts and other legal obligations
of a business.
2.5
Total question 2
/5
2

(
3
)
Student Number:
‐
paceprovided.
Nr:
Statement:
Your
3.1

embrace a new or original concept that has not been tried
before.
3.2
economies are the biggest contributors to job creation.
3.3
3.4
3.5
their own enterprises to ensure permanence and growth.

3.6
3.7
of a business idea to be converted into a business enterprise.
3.8
to convert an idea into a small business enterprise.
3.9
3.10

basketball, running, and soccer.
Total question 3
/10
Question4:ChoosetheCORRECTanswerbyselectingaorb.
Nr:
Statement:
YourAnswers
4.1
local customer groups.

b) Tailoring products and marketing programs to the needs
and preferences of individual customers.
4.2
income and nationality.
social class and life style.
4.3
relatively more expensive.
4.4

customer evaluates other prices.
a) internal or
b) external
4.5
buyers who are willing to pay a premium price to own the new
product, it is called ...
b) Price skimming.
Total question 5
/5
Student Number: ‐

a. Advertising
b. Sponsorship
c. Publicity
d. Sales promotion
e. Personal selling
Nr:
Statement:
YourAnswers:
5.1
5.2
easier to generate sales.

5.3
5.4
buyer and seller.
5.5
to use the company’s name (brand) and logo in connection with
a specific event
Total question 5
/5

Operationsmanagement:
a. Productivity
b. Capacity
c. Batch production
d. Mass production
e. Job production
Nr:
YourAnswers:
6.1
specific order or to meet a continuous demand.
6.2

6.3
inputs into outputs.
6.4
within a certain period.
6.5
Total question 6
/5
4

Student Number: ‐
Question7: Choose the CORRECT answer by selecting aorb.
Nr:
Statementorquestion:
Nr:
YourAnswers
7.1
planning is ... a) The nature of the work or b) Trade union
requirements
7.1
7.2

7.2
7.3
… refers to the way tasks are combined to form complete jobs
a) Job enrichment or b) Job design
7.3
7.4
a) Measure the candidate’s ability to learn specific jobs or
skills or

7.4
7.5
Choosing the most suitable candidate from a pool of candidates
is called ... a) screening or b) selection
7.5
Total question 7
/5
Question8: Match the concepts in column A with the
A
Statement:B
Nr:

YourAnswers:
a) Current asset
8.1
b) Capital
8.2 The ability of an enterprise to pay off all its liabilities if it
should stop to operating at any given time.
8.2
c) Profitability
8.3

d) Liquidity
8.4 Owned by the enterprise and can be turned into cash within
12 months
8.4
e) Solvency
8.5 The ability of an enterprise to pay its short-term financial
commitments continuously and on time.
8.5
Total question 8
/5

paceprovided.
Nr:
Statement:
YourAnswers
9.1
whole.
9.2
9.3
liquidity problems.

9.4
available to small businesses.
9.5
a business.
Total question 9
/5
TOTAL:SECTIONA
/50
5
URSHIP

SECTIONB:APPLICATION/ESSAYQUESTIONS
Nr:
Question:
Mark:
9.
own micro business.
will the chief activities of this business be? (5)
support and motivation to pursue such an idea? Motivate your
answer. (3)

customers? (3)
f. Explain the difference between the feasibility and viability
of the business idea. (3)
15
10.
for your business.
10
11.
business
10

12.
a. Using the chief activities of your business, do a job
analysis and identify possible jobs / positions in your business
(5)
these positions (10).
15
13.
sources and forms of finance.
10
14.

management so important for an entrepreneur? Your explanation
should also include how financial management relates to and
integrates with the other functional areas of a business.
10
15.
entrepreneurs face in obtaining finance.
5
TOTAL:SECTIONB
75

6
SUMMATIVEASSESSMENT3(MODULES7&8):MANAGEMEN
TPRINCIPLES
SECTIONC:CASESTUDIES
corporation in 2009) which sells computer equipment in her
township. Martha did an A+ Computer technician course 4 years
ago and worked for a large computer company for about 6 years
before embarking on this venture. She took a loan of R200 000
from Khula and used all her savings to convert an old
hairdressing salon into a computer shop and to buy her initial
stock.
children and students living in the township are her main
customers. Although she started by working on her own, she
now employs one technician and one sales lady.

R550 000 for the past year and it is her vision to grow her
business into the preferred supplier of computer hardware and
services in her neighbourhood. She started planning to expand
her business and wants to achieve a turn-over of at least R750
000 in the next 12 months.
environment into account. However, she focuses only on the
variables in the market environment and does not consider those
in the macro environment. At the moment her only competitors
are two computer technicians who are doing PC repair work in
the area.
QUESTIONS:CASESTUDY1
Nr:
Question:
Mark:
16.

reasons for your point of view.
enterprise? Please provide a reason for your answer.
3
2
17.
a. Name the variables in the macro environment that may
have an influence on her business.
b. Explain to Martha, with the help of suitable examples,
which of these variables will be more likely to influence the
operation and success of her business.
6
4

18.
Martha to generate more business ideas.
diagram.
5
5
19.
7
3
Total case study 1

35
7
PleaserefertothebusinessplanforNtombi’sMilkMarket(Appendix
A)
ofyourprescribedbook(pages333—
352)whenansweringthefollowingquestions:
QUESTIONS:CASESTUDY2
Nr:
Question:
Mark:
20.

R3000 p.m.) spends 2% of their monthly income on milk, and
the business- to- business market amounts to R80 000 per
month, calculate the potential rand value of Ntombi’s Milk
Market’s (NMM) market.
c. Define indirect costs and give 3 examples of NMM’s
indirect costs
2
3
3
21
b. How can NMM lower their break-even point? Explain at
least two ways.
4
3

22.
product category.
product-service mix does NMM belong? Give a reason for your
answer
5
2
23
products?
b. What pricing objective do you think NMM has adopted?
Give a reason for your answer.
4
2
24

a. Discuss the types of channels of distribution that a
business can use.
b. What type of channel does NMM use? Please motivate
your answer.
5
2
25
buys milk from NMM. The shop has an average monthly
demand of 105 litres of milk. The order lead time is one week
and the safety stock is five litres.
5
Total case study 2
40
TOTAL:SECTIONC

75
TOTALSUMMATIVEASSIGNMENT3
200
8

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