Entrepreneurship NCV Level 2 — Document P1
November 2019 — NCV Level 2 — Entrepreneurship
NCV Level 2
2019
NCV Business
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Q1— Section header —
1.15\in the ANSWER BOOK.
1.1A person who is innovative, takes calculated risks and has a passion and drive to start their own business. Entrepreneurship
1.2It is ONE way of competing with competitors in the business environment. Employment Better customer services
1.3It favours small businesses to do well or flourish. Employment opportunities Inflation
1.4Identifying opportunities is an example of hreats a g
1.5ONE of these methods fall under primary data Branding Experimentation
1.6Sales cost of sales = ross sale
1.7can identify mistakes in your business idea
1.8Deciding which tasks are most important and most urgent so that they can be handled first. Prioritis ing Planning
1.9escribes both the manufacturing process and the equipment needs SWOT analysis
1.10ocument from which financial records are compile d: ecent document
1.11nfluences the pricing of the product Skimming Competitors
1.12executive summary cover page le gal document title page
1.13It is about informing potential customers about products and why they should buy them Promotion Observation
1.14nstrument you can use to investigate the internal environment of your business
1.15in a business trength
Q2— Section header —
2.1SWOT analysis allow us to plan properly and use our strength to our best
2.2A business plan can be used as a roadmap or guideline when the business is up and running
2.3The external environment is also referred to as the micro environment
2.4Legal documents and tax returns are placed under supporting documents in a business plan
2.5The ab ility to o rganis is one of the characteristics needed by an entrepreneur to meet managerial requirement s.
2.6Copyright is the registration of a name, a unique mark or a word that distinguishes your product
2.7Information from market research ca n be used to make decision on the price of the product.
2.8Resource centres, libraries and statistics are some of the common sources of secondary data.
2.9Break even analysis is part of the management plan
2.10Capital is a resource that e ntrepreneurs need to achieve success. (3021042\ Copyright reserved Please turn over
2.11Creditors, bank overdrafts and tax es are examples of long term liabilities.
2.12The business diary records all important activities of the business.
2.13Outsourcing is an agreement to use an exi sting business idea for a fee
2.14A credit note is an example of a source document.
2.1515
Q3— Section header —
3.1Advi e Hlengiwe on what causes most businesses to fail . M ention three ways in which she c an avoid this challenge.
3.2How would the following external factors negatively affect Hlengiwe business
3.2.1Unemployment
3.2.2Inflation
3.2.3
3.3Hlengiwe was armed with determination his means that she was confident that she w ould succeed
3.4A business plan would have helped Hlengiwe to secure the start up loan. .4.1 Mention THREE benefits of a business plan
3.4.2Mention any THREE components of a business plan (3\
3.5Rather than the smell of the food lur ing the customers, Hlengiwe can use dvertising to inform customers about her bu siness.
3.5.1Mention THREE goal of advertising (3\
3.5.2Name TWO advertising media that Hlengiwe can use (2\
3.6Hlengiwe operates in a competitive environment ist FOUR ways in which she can compete better with the competitors
Q4— Section header —
4.1Let us assume that Hlengiwe sell 11 breakfasts and 13 lunches (small\in a day
4.1.1Calculate the total s ales per day (5\
4.1.2Calculate Hlengiwe s profit per week (4\
4.2Hlengiwe s new supplier has changed prices he cost of her weekly stock has
Q5— Section header —
5.1Hlengiwe can use a task list in her business. ompile FOUR tasks that she has to complete in the course of he r working day. (4\
5.2A diary can help Hlengiwe to manage her time effectively. Explain the following types of diaries that she can use.
5.2.1Electronic diaries
5.2.2Year planner
5.2.3
5.3Will Hlen giwe succeed as an entrepreneur? (1\
Q5— Section header —
5.5Give FOUR reasons why entrepreneurs are important in South Africa. (4\
5.6Explain what is meant by competitive advantage. 2\
5.7Mention the competitive advantage of Hlengiwe s stall. (1\ [20] TOTAL SECTION B: 70 GRAND TOTAL: 10020
Topics Identified
3
Business EnvironmentsLeadershipBusiness Plan
Mark Allocation
Total100 marks
Sections15 + 15 + 35 + 15 + 20 = 100 marks
Paper information
TitleDocument
SubjectEntrepreneurship
LevelNCV Level 2
Document typeQuestion paper
Year2019
MonthNovember
Pages8
Downloads5
Examination context
Decade2010s
Years ago7y
SeasonSpring (SH)
Start dayFriday
Exam periodNovember 2019
Days since exam2,537
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