Summary Beautifully summarized IEB business studies notes (Chapter 1 to 6)

CHAPTER 2
Overall organization performance




Ashleigh Steenhuisen : matric 2023

, Term 1




The importance of creative thinking and problem-solving techniques
• Identify a problem that the consumer is not even aware of yet and finding a way to
solve the problem
• To create and maintain a “competitive advantage”
• Product life cycles are often becoming shorter and therefore the business must
constantly adapt to ensure customer needs are satisfied


Problem solving steps:
1. Identify the resource gap and obtain these resources

2. Explain the impact on the business and consider different solutions

3. Choose the best solution(s) and explain it in depth

Pros and cons chart:
INTRODUCING A NEW SUBJECT AT SCHOOL
PROS CONS
® Gives learners a wider choice ® Do not have a teacher with the
® May attract more learners subject knowledge- cost of
employing an additional teacher
® Must build another classroom
*Might have to give each pro/con a score out of 5 based on importance

Decision Tree
® A visual representation of different outcomes to a single event
® Looks at different options and the consequences of each




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