Grade 10 Business Opportunities and Related Factors

At the end of this lesson you should be able to answer the following questions:

• Analyze the challenges of the macro-environment using PESTLE analysis.
• Outline the components of a business plan.
• Explain the purpose of the executive summary
• Outline aspects that must be included in the executive summary.
• Formulate the vision/mission statements and goals of the envisaged business.
• Explain the relationship between the structure of the business and forms of ownership.
• Outline/Mention different types of legal requirements of a business.
• Compile a SWOT analysis for the envisaged business.
• Explain the importance of a marketing plan and market research.
• Explain the meaning of a marketing mix with specific reference to the 7p’s.
• Identify competitors from doing a market research
• Explain the strategies that you will use to overcome competition in the market.

Learners you are required to complete the following task, the task weighs 20 marks. Please 

Task;

Question 1 True or False

1. A Business opportunity can be described as an economic idea that can be implemented to create a business enterprise and earn profits. (2)

2. It is not important to consider the market for the product. (2)

Question 2 

1. Discuss FOUR interviews methods that can be used to research information. (8)

2. Discuss THREE business research skills. (6)

3. Advise businesses on the importance of conducting market research. (6)