,OTE2601 Assignment 2 (COMPLETE
ANSWERS) 2025 - DUE 15 June 2025
MULTIPLE CHOICE,ASSURED EXCELLENCE
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 (
5.2 Characteristics of a one-man business (6)
5.3 Record keeping in a business (6) [20]
QUESTION 1
Reasons Why Most Businesses Fail:
1. Lack of Market Demand: Many businesses fail because
they don't adequately research or understand their
market. Without a clear demand for their product or
service, sustaining operations becomes difficult.
2. Poor Management: Ineffective leadership, lack of strategic
planning, and mismanagement of resources can lead to
business failure. This includes issues like inadequate
financial management or ignoring operational challenges.
ANSWERS) 2025 - DUE 15 June 2025
MULTIPLE CHOICE,ASSURED EXCELLENCE
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 (
5.2 Characteristics of a one-man business (6)
5.3 Record keeping in a business (6) [20]
QUESTION 1
Reasons Why Most Businesses Fail:
1. Lack of Market Demand: Many businesses fail because
they don't adequately research or understand their
market. Without a clear demand for their product or
service, sustaining operations becomes difficult.
2. Poor Management: Ineffective leadership, lack of strategic
planning, and mismanagement of resources can lead to
business failure. This includes issues like inadequate
financial management or ignoring operational challenges.
