OTE2601 Assignment 2 (COMPLETE ANSWERS)Semester 1 2025 - DUE 15 June 2025; 100% correct solutions and explanations.

OTE2601 Assignment 2 (COMPLETE ANSWERS)Semester 1 2025 - DUE 15 June 2025; 100% correct solutions and explanations. QUESTION 1 A famous South African entrepreneur like Patrice Motsepe can mentor young entrepreneurs in running a business. Discuss the reasons why most businesses fail. [20] QUESTION 2 Trade unions are by far not the only actor and most likely not even the most effective actor in bringing about, securing and maintaining inclusive economic transformation, but they are, due to their democratic, institutional and internationalist characteristics, crucial to the process. It seems that the discourse on economic transformation needs to incorporate the labour movement, even if discussions on exploitation and class struggle seem so unpopular in much of development studies and praxis. During the turbulent years of anti-apartheid agitations, trade unions played a vital role in South Africa. Now the trade unions of South Africa are politically active and they can challenge anyone irrespective of the position held by that individual in a country. 2.1 Discuss about the role of Trade Unions in the economy of a country (10) 2.1 Before one can compile a cash flow plan, there are specific steps to be taken. Discuss the steps that you will take before compiling a cash flow plan. (10) [20] [20] QUESTION 3 3.1 Many people, especially young people, are reluctant to start their own businesses. It is important that learners are equipped with the knowledge and skills they will eventually need to maintain their positions as employers, employees and consumers in the economy. Support this statement with the creative methods that can be used to generate business ideas. [20] QUESTION 4 The marketing plan includes everything that has to be done to convey the product or service to the consumer or target market. In your opinion, how do the following instruments become necessary to make the plan work? 4.1 Product 4.2 Price (5) 4.3 Place (5) 4.4 Promotion (5) [20] QUESTION 5 Famous entrepreneurs like Maponya and Motsepe play a crucial role in the economy of a country. Do you agree with the statement that “the chosen form of business must suit the particular circumstances, needs and personality traits of the entrepreneur”? Justify your answer by focusing on the following: 5.1 Factors that have a direct influence on the choice of business (8) 5.2 Characteristics of a one-man business (6) 5.3 Record keeping in a business (6) [20]