Name:Anita Kesego

Surname: Dihela
Year:2021-2022
Section A multiple choice questions

1. A
2. D
3. C
4. D
5. A
6. D
7. D
8. A
9. A
10. C
11. D
12. C
13. D
14. C
15. C
16. B
17. A
18. B
19. A
20. C
21. B
22. B
23. D
24. C
25. D
26. A
27. D
28. B
29. B
30. A
31. B
32. A
33. D
34. D
35. D
36. A
37. D
38. D
39. C
40. B

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Section B

Question 1

i) A feasibility study is conducted to determine the availability of a business

initiative. Before investing anything in the new business initiative a

feasibility study is conducted to see whether the enterprise is worth the

effort and money while a business plan is created only when it is it has

been determined that a business opportunity exists and that the endeavor

is about to begin. This simply implies that a business plan is created

following the completion of feasibility plan.

ii) Statistics, evaluation and projected estimate of the business potential are

included in a feasibility plan while a business plan is largely made up of

techniques and plans to be applied in order to establish and expand the

firm.

iii) A feasibility plan is concerned with availability of a company concept

whereas a business plan is concerned with business development and

sustainability.

iv) A feasibility report discloses to the entrepreneur the revenue potential of a

company concept or prospect whereas a business plan assists the

entrepreneurs in raising the necessary startup funds from investors.

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 v) A feasibility study is carried out before the business plan while a business

plan is prepared after the feasibility study.

Question 1b
Also business visionary is an individual who begins another firm causing the vast

majority of the dangers and harvesting a large portion of the increases. A business

person is habitually considered a powerhouse a supplier a new idea, item,

administrations, and activity arranging.

Ambitious innovators assume a significant part in each economy since they have the

capacity and initiative anticipate prerequisites and carry splendid new developments

to the market. Organizations that prevailed with regards to assuming the dangers of

dispatching a business is compensated with the income, eminence and opportunities

for progressing development. A business that failures results in loses and lower

market presence for people locked in

Question 2

i) Communication- As an entrepreneur Boitumelo Must be able to communicate

effectively with workers, clients and her shareholders.

ii) Boitumelo must be able to organize tasks and carry them out in a systematic

manner.

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iii) She must guarantee interdependence and intergroup competition.

iv) Boitumelo must the develop and establish the relevant rules and protocols.

v) She has to know and understand her weaknesses and strengths.

vi) She has to be able to plan, lead and control the business functions.

Question 2b

i) For Boitumelo to be a successful entrepreneur she must be able to discover new

goods or opportunities.

ii) Successful entrepreneurs a creative and innovative.

iii) Boitumelo should be willing to take risks for her business.

iv) She should develop very good social skills which can involve team strategy

building.

Question 2c

Advantages

i) Autonomy- Boitumelo works for herself. she can decide who she wants to

work with and went to take vacations. she does not need anyone approval

to make a decision.

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 ii) Profitability- Entrepreurship provides a larger opportunity for financial

benefits than laboring for another person. Running your own enterprise

eliminates the financial constraints that come with working for someone

else.

Disadvantages

i) Limited growth- Not able to access tax credits

ii) Financial risk- There is no one to guide Boitumelo on how to spend

money. She can recklessly spend all the money without realizing at this

can result in her company liquidating.

Question 2d

i) Interpersonal skills

ii) Communication and motivation

iii) Organization and designation

iv) Teamwork

v) Problem addressing and direction

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Question 3

Question 3a

i) Boitumelo contributes to economic progress through introducing new

technology, goods, and services.

ii) Increased competition from Boitumelo puts current businesses under

pressure to become more competitive.

iii) She creates both short and long-term career chances.

iv) Entrepreneurial activity boosts corporate and economic productivity.

v) Entrepreneurs hasten structural change by displacing existing, sluggish

enterprises.

vi) She is also promoting entrepreneurial culture

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Question 3b

i) Demographic factors

The many qualities of a population are known as demographics. Factors

such as race, gender and age of being in a group at being examined as

examples of demographics. Statistical data is important to Boitumelo

because she can use this data to design marketing plans.

ii) Political and legal factors

as lawmakers leave office and new ones have their spots the approaches

they offer affect organisations in related businesses such as Boitumelo.

Organizations consistently full administrative recommendations to plan for

any progressions due to the irregularity governmental issues.

iii) Social factors

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 Individuals buying propensities are affected by where they dwell, their own

quantities and their social standing. one planning and show custom

merchandise Boitumelo should think about friendly contemplations, should

endeavor recent developments and also try to connect with her customers.

iv) Money and resources

shortage offense might be the difference between Boitumelo’s company’s

survival or demise. When financial resources are restricted it impacts the

number of employees she can recruit and the quantity advertising she can

purchase. but if she has sufficient funds she can have a lot more leeway to

grow and extent her company.

v) Competitive factors

Because there are a lot of competitors Boitumelo can use the info she

gathers to create ideas for enhancements re launches and new item

advancement.

Question 3c

Market research can assist Boitumelo in assessing significant trends and forecasting

how the market will develop. It is an important stage in finding new market sectors,

generating new goods, and determining her target market.

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Well-executed market research aids in the development of your strategy. Even if a

firm is long-established, it must remain in touch with its customers' demands, as well

as market developments and rivals. By incorporating an insights repository into your

market research process, you may obtain more timely, accurate, and efficient

research insights.

Market research may also be used to assess the efficacy of your own marketing.
You can learn how well consumers understand your products and services. The
results might provide you with ideas for effective packaging and advertising to
increase brand recognition.

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