IEB Business Studies –
Ultra‑Deep Exam Notes
(Matric Prelims)
Built for intensive revision. Everything is written in exam language, with
frameworks, examples, checklists, and marking hooks. Use the answer
frames and the SA context prompts in each section to maximise marks.
Exam Command Words & Answer Frames (Use
Everywhere)
● Define: Short, precise, syllabus wording. (1–2 lines)
● List/Name: Bullet items only. (No explanations unless asked)
● Explain/Describe: What + How + Why + So what (impact). (3–4 linked sentences)
● Differentiate/Distinguish: Definition A vs B + 2 keyed differences + example each.
● Analyse/Evaluate: Pros + Cons + Conditions + Conclusion (recommend).
● Recommend: Who/What/When/Cost/Risk/KPI. (SMART)
● Apply: Tie theory to the scenario (industry, size, data, stakeholders, risks, SA
context).
PEEL paragraph: Point → Explain → Example (SA) → Link to Q.
1) Business Environments (Macro,
Market, Micro)
1.1 Macro Environment (PESTLE + Physical)
,Outside control; anticipate and adapt.
P – Political & Legal
● Political stability, policy direction, taxation, trade policy.
● Key SA laws (know purpose + 1–2 provisions + a business response):
○ BCEA (Basic Conditions of Employment Act) – hours, leave, contracts;
respond with compliant policies & rosters.
○ LRA (Labour Relations Act) – collective bargaining, strikes; respond with
recognition agreements & dispute procedures.
○ EEA (Employment Equity Act) – eliminate unfair discrimination, affirmative
action; respond with EE plan & reporting.
○ OHSA (Occupational Health & Safety Act) – safe workplace; respond with risk
assessments & training.
○ NCA (National Credit Act) – credit provider duties; respond with affordability
checks.
○ CPA (Consumer Protection Act) – consumer rights; respond with returns
policy, accurate info.
○ Competition Act – prohibits collusion, abuse of dominance; compliance
training.
○ B‑BBEE Act – transformation scorecards; supplier and ownership strategies.
○ Companies Act – governance, solvency & liquidity tests; board duties; King IV
link.
E – Economic: Inflation, interest, exchange rate, growth, unemployment.
● Impacts: cost of capital, consumer demand, input costs, exports.
● Strategies: pricing reviews, cost control, hedging basics, product mix changes.
S – Social: Demographics, urbanisation, culture, income inequality, education levels.
● Strategies: localisation, inclusive hiring, CSI aligned to community needs.
T – Technological: Automation, AI, e‑commerce, cybersecurity.
, ● Strategies: digital channels, data protection (POPIA), upskilling.
L – Legal: (covered with P) + industry codes/standards.
E – Environmental (Physical/Natural): Energy security, water, climate, waste.
● Strategies: solar/backup power, water-saving tech, eco‑design, ISO 14001.
Macro Answer Frame: Factor → Business impact (cost/revenue/risk) → Relevant SA law or
policy → Strategy (time‑bound) → Expected outcome (KPI/KRI).
Exam triggers: load shedding; inflation spikes; new minimum wage; fuel price; drought.
1.2 Market Environment (Industry/Competitive)
External, industry‑level forces; some influence via strategy.
Forces & Players
● Competitors (pricing, differentiation, capacity).
● Customers (bargaining power, switching costs, loyalty).
● Suppliers (input power, reliability, logistics).
● New Entrants (barriers: capital, regulation, brand).
● Substitutes (alternative solutions, tech disruption).
● Intermediaries (distributors/retailers, platforms).
● Trade unions & industry bodies (wage demands, standards).
Tools: Porter’s Five (or Six) Forces, STP (segmentation‑targeting‑positioning),
Benchmarking.
Strategies
● Cost leadership (efficiency, scale, lean ops),
● Differentiation (brand, quality, service),
● Focus/Niche (specialised segment),
Ultra‑Deep Exam Notes
(Matric Prelims)
Built for intensive revision. Everything is written in exam language, with
frameworks, examples, checklists, and marking hooks. Use the answer
frames and the SA context prompts in each section to maximise marks.
Exam Command Words & Answer Frames (Use
Everywhere)
● Define: Short, precise, syllabus wording. (1–2 lines)
● List/Name: Bullet items only. (No explanations unless asked)
● Explain/Describe: What + How + Why + So what (impact). (3–4 linked sentences)
● Differentiate/Distinguish: Definition A vs B + 2 keyed differences + example each.
● Analyse/Evaluate: Pros + Cons + Conditions + Conclusion (recommend).
● Recommend: Who/What/When/Cost/Risk/KPI. (SMART)
● Apply: Tie theory to the scenario (industry, size, data, stakeholders, risks, SA
context).
PEEL paragraph: Point → Explain → Example (SA) → Link to Q.
1) Business Environments (Macro,
Market, Micro)
1.1 Macro Environment (PESTLE + Physical)
,Outside control; anticipate and adapt.
P – Political & Legal
● Political stability, policy direction, taxation, trade policy.
● Key SA laws (know purpose + 1–2 provisions + a business response):
○ BCEA (Basic Conditions of Employment Act) – hours, leave, contracts;
respond with compliant policies & rosters.
○ LRA (Labour Relations Act) – collective bargaining, strikes; respond with
recognition agreements & dispute procedures.
○ EEA (Employment Equity Act) – eliminate unfair discrimination, affirmative
action; respond with EE plan & reporting.
○ OHSA (Occupational Health & Safety Act) – safe workplace; respond with risk
assessments & training.
○ NCA (National Credit Act) – credit provider duties; respond with affordability
checks.
○ CPA (Consumer Protection Act) – consumer rights; respond with returns
policy, accurate info.
○ Competition Act – prohibits collusion, abuse of dominance; compliance
training.
○ B‑BBEE Act – transformation scorecards; supplier and ownership strategies.
○ Companies Act – governance, solvency & liquidity tests; board duties; King IV
link.
E – Economic: Inflation, interest, exchange rate, growth, unemployment.
● Impacts: cost of capital, consumer demand, input costs, exports.
● Strategies: pricing reviews, cost control, hedging basics, product mix changes.
S – Social: Demographics, urbanisation, culture, income inequality, education levels.
● Strategies: localisation, inclusive hiring, CSI aligned to community needs.
T – Technological: Automation, AI, e‑commerce, cybersecurity.
, ● Strategies: digital channels, data protection (POPIA), upskilling.
L – Legal: (covered with P) + industry codes/standards.
E – Environmental (Physical/Natural): Energy security, water, climate, waste.
● Strategies: solar/backup power, water-saving tech, eco‑design, ISO 14001.
Macro Answer Frame: Factor → Business impact (cost/revenue/risk) → Relevant SA law or
policy → Strategy (time‑bound) → Expected outcome (KPI/KRI).
Exam triggers: load shedding; inflation spikes; new minimum wage; fuel price; drought.
1.2 Market Environment (Industry/Competitive)
External, industry‑level forces; some influence via strategy.
Forces & Players
● Competitors (pricing, differentiation, capacity).
● Customers (bargaining power, switching costs, loyalty).
● Suppliers (input power, reliability, logistics).
● New Entrants (barriers: capital, regulation, brand).
● Substitutes (alternative solutions, tech disruption).
● Intermediaries (distributors/retailers, platforms).
● Trade unions & industry bodies (wage demands, standards).
Tools: Porter’s Five (or Six) Forces, STP (segmentation‑targeting‑positioning),
Benchmarking.
Strategies
● Cost leadership (efficiency, scale, lean ops),
● Differentiation (brand, quality, service),
● Focus/Niche (specialised segment),
