Chapter 1

Question 1

Business resources

Answer 1

• Human
• Material
• Info
• Financial

Question 2

Business classification

Answer 2

Manufacturing businesses
- Process various materials
- Deliver physical product

Service businesses
- Produce services -(e.g., haircuts, legal advice, tax consulting)

Question 3

Stakeholders

Answer 3

The different individuals/groups who are affected by the policies and decisions made by an organisation.

Question 4

Environment

Answer 4

PESTLE
-Political
-Economic
-Social
-Technological
-Legal
-Environmental

Questions to consider:
> Why is this environment important?
> What is currently happening in these environments (trends)?
> How do each of these trends affect the business?
> What can businesses do to overcome the challenges of each environment? Or react upon which positive trends?

Question 5

Teetotalism

Answer 5

Gen Z increasingly rejects alcoholic beverages in favour of a “cleaner” lifestyle.

Younger persons are more health conscious, as well as of how food and drink choices affect their long-term well-being.

The teetotaller trend will lead to a rise in demand for alcohol-free products and opportunities.

Question 6

Circular economy

Answer 6

This implies that what we buy/sell must be used over and over again.
> This goes far beyond recycling.
> The purpose of the circular economy is to eliminate waste; and to encourage a sustainable way of life.

Question 7

Circular economy

Answer 7

• Food wastage
  10 mil tons lost = 1/3
  pressure on food chain - loss = R61.5 trillion
  > energy loss associated can power JHB for 16 weeks
  > associated loss water = fill 600 000 olympic swimming pools
• Virtual reality
• Check -out free shopping
• Augmented reality
• Recycling
  Growing trend
  > SA non-profit org - National Recycling Forum

Question 8

Legal environment

Answer 8

• Intellectual property
• Competition/trading practices
• Consumer protection
• Enviro protection
• Company formation/governance
• Employment protection
• Health and safety
• Human rights

the above all concern international law, regional and national legal systems