UNIT OUTLINE

Understanding Business Activity

Image by Cytonn Photography

1.1 Business Activity

  • Why is specialization important?

  • What are the two (2) ways of specializing? 

  • What are the advantages and disadvantages of labour and capital intensive?

  • What is the purpose of business activities?

Image by Adele Payman

1.2 Classification of businesses

  • What are the three (3) industrial sectors?

  • What is the difference between a market, mixed and planned economy?

  • What are public sector organisations?

Image by Hunters Race

1.3 Enterprise, business growth and size

  • What are the advantages and disadvantages of being an entrepreneur?

  • What are the characteristics of an entrepreneur?

  • What are the importance of a business plan?

  • What are the components of a business plan?

  • Why does government support businesses?

  • What kind of support does the government offer businesses?

  • How to measure the size of firms?

  • Why do firms grow?

  • How do firms grow?

  • Why does some firm remain small?

  • What are the problems of growing a business?

  • Why does some business fail?

  • What causes a business to fail?

Image by Samson

1.4 Types of business organization

Image by Austin Distel

1.5  Business objectives and stakeholder objectives

SCORING STRATEGY

Something Isn’t Working…

Refresh the page to try again.Error: 393289301ba043c1b91dc40fd9fa8cd0