Business Studies Grade 10 Term 1 Study Guide

Business Studies Study Guide
Grade 10, Term 1

,Contents:



Unit 1 – The Micro Environment…………………………………………………………………….Pg. 2 -16

End of Unit Questions………………………………………………………………………………..Pg.17 – 20

End of Unit Answers………………………………………………………………………………….Pg. 21 – 23

Unit 2 – The Market Environment…………………………………………………………………..Pg. 24 – 26

End of Unit Questions………………………………………………………………………………..Pg. 27

End of Unit Answers………………………………………………………………………………….Pg. 28 - 29

Unit 3 – The Macro Environment……………………………………………………………………Pg. 30 – 32

End of Unit Questions………………………………………………………………………………..Pg. 32

End of Unit Answers………………………………………………………………………………….Pg. 33

Unit 4 – Interrelationship between the micro, macro and market environments……………….Pg. 34 - 35

End of Unit Questions………………………………………………………………………………...Pg. 36

End of Unit Answers………………………………………………………………………………….Pg. 37 - 40

Unit 5 – Business sectors……………………………………………………………………………Pg. 41 - 42

End of Guide questions………………………………………………………………………………Pg. 43

End of Guide Answers……………………………………………………………………………….Pg. 44 – 48

Weekly study plan (9 weeks):

Week 1 to 3 - Unit 1

Week 4 to 5 – Unit 2

Week 6 – Unit 3

Week 7 – 9 – Unit 4 and Unit 5

Unit 1 – The Micro Environments



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,Introduction:

The business environment consists of the micro, market and macro environments.

The micro environment refers to the internal factors that will influence the performance of the business.

All the elements of the micro environment are directly controlled by management.

The market environment is part of the external business environment.

The business has no control over the components/challenges of the macro environment.

The challenges related to the components of the market environment are directly influenced by events
in the macro environment.

Components of the micro environment

Vision, mission, goals and objectives:



The Purpose of the business
Mission




Vision What the business would like to become




Goals What the business intends to achieve




Objectives Detailed statement of the companies’ goals




Using your notes and text book explain why it is important for a company to have a mission, vision,
goals and objectives. Summarize in bullet format.
Organizational Culture




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, Relationships Customers
Organizational Culture
-The businesses “personality”
Communication -The companies’ beliefs, values Practices
and norms that brings the
company and its employees
Values together. Language




Organizational Resources




Resources are the tools the enterprise can use to make it run smoothly.

Companies need various types of resources, including entrepreneurial, human, financial, and natural
resources, see table below:

Type of Resource Description
Entrepreneurial The person responsible for combining production factors in such a way as to
make the business a profit
Human The people needed to carry out the work and keep the company running
Financial Money invested in the company to buy manufacturing goods like land,
buildings and machinery
Natural Natural assets used to provide products and services, such as minerals, water
and wood


Read the above organisational resources and write down examples of your own for each type of
resource. This will help you prepare for exams.


Business organizational structures:

-In order to manage a company’s resources effectively, businesses must have clear organisational
structures in place

-Depending on the companies nature of business, you can determine which type of organizational
structure would be most suitable.




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