Forms of ownership
What is a shareholder?
People who are part owners of a company because they own a number of shares.
Name 1 management style
Autocratic, democratic, LF
You just got 100 points for nothing!
How easy can it be?
Name 2 business environements and the 3 classifications there in
Internal and external. Micro, Market and Macro
What is the term for accepting or offering something valuable to influence a business decision dishonestly?
Bribery
Does a partnership have limited or unlimited liability
Unlimited
You just got 200 points for nothing
That was easy
Name 3 business functions
There are 8
In which environment does customers fall?
Market
What tis the difference between professionalism and ethics in the workplace?
Professionalism refers to how you behave at work, including your attitude, appearance, communication and work standards.
Ethics refers to what is right and wrong, based on moral principles such as honesty, fairness and integrity.
Name 2 types of companies
Private and public company
Leader followed by choice, manager by order
Leader looks after people, manager after processes
Which function will find the right supplier?
Purchasing
In which environment does the business culture fall and why?
Micro - it is in the control of the business
Name one behavior that is unethical in marketing
Deceptive names, materialism
What is the prospectus?
A formal document issued by a company to provide potential investors with information about the business and encourage them to buy its shares.
Name the 4 main management tasks
Planning, leading, organising, control
Name one risk that the production department faces?
There are a few
Give an example of a political factor in South Africa that might influence a business that is happening in the next 10 days
Voting taking place
What does contractual capacity mean?
legally allowed to sign a contract - 18 years and older
Which form of ownership has to have its financial statements audited?
Public company
Mark Zuckerberg is the co-founder of Meta, originally founded as Facebook in 2004, alongside Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes.
What is the remuneration for the factor of production - Natural resources?
Rent
Which major South African supermarket chain announced on 26 October 2026 that it had reduced its half-year losses by approximately 32% to R299 million? You will get 100 extra point if you get it right on your first try
Pick and Pay
What term describes reporting illegal or unethical activities within an organisation to the relevant authorities?
Whistelblowing