Gr 11 Business Studies: Entrepreneurial Qualities & Success Factors (HOT Quiz)

Q1 Apply: Spot the Quality

500

SCENARIO: During load-shedding, Sipho's spaza shop in Thohoyandou loses stock because his fridge stops. He borrows R4 000 from his stokvel, buys a second-hand gas fridge, and starts selling ice and cold drinks to neighbours during power cuts. Sales rise by 30%. Which TWO entrepreneurial qualities does Sipho show MOST clearly? A. Risk-taking and recognition of opportunities B. Honesty and ethics C. Vision and communication skills D. Good management and responsibility

A. Risk-taking (he borrowed R4 000 with no guarantee of success) and recognition of opportunities (he turned load-shedding, a problem, into a gap in the market for ice and cold drinks).

Q2 Analyse: Hidden Problem

500

SCENARIO: Lerato's bakery in Soweto always has long queues because she sells bread at R12 while it costs her R14 to bake. She keeps no records and says, 'Many customers means I am successful.' After 6 months she cannot pay her flour supplier. Which key success factor is Lerato neglecting MOST? A. Customer base B. Profitability (sound financial management) C. Knowing the market D. Good leadership

B. Profitability. A big customer base does NOT mean success: she loses R2 on every loaf (R12 - R14 = -R2). Selling more simply means losing more. She needs costing, pricing and record-keeping.

Q3 Evaluate: Right or Risky?

500

SCENARIO: During Level 4 water restrictions in Polokwane, Bra Tshepo's car wash secretly connects to a municipal pipe so he can keep washing cars at R50 while competitors charge R80. Customers love the low price. Which evaluation is MOST accurate? A. Good decision: low prices build a big customer base B. Good decision: it shows he is a risk-taker C. Poor decision: it is unethical and illegal, damages the community and puts the long-term sustainability of the business at risk D. Neutral: it does not affect the business

C. Unethical and illegal behaviour harms the community and the business reputation. If he is caught he may be fined or closed down. An unethical business is NOT sustainable (Ethics & good governance success factor).

Q4 Analyse: Tell Them Apart

500

SCENARIO: Thandi's first food stall failed (wrong location). Her second failed (hygiene complaints). Instead of quitting, she moved her third stall to the taxi rank, bought gloves and a gas cooker, and now makes a steady profit. Which statement BEST distinguishes the two qualities shown? A. 'Not quitting after two failures' = perseverance; 'moving and changing how she works' = adaptability B. Both parts only show passion and energy C. 'Not quitting' = creativity; 'moving' = risk-taking D. Both parts only show responsibility

A. Perseverance = not giving up despite failures. Adaptability = changing course and trying a different way. Thandi shows BOTH.

Q5 Evaluate: Best Strategy

500

SCENARIO: The Grade 11 class tuck shop's sales dropped by 40% after a vendor at the gate started selling chips R2 cheaper. The committee must choose ONE strategy. Which recommendation will MOST likely keep the tuck shop profitable AND sustainable? A. Cut prices below cost price to beat the vendor B. Do a quick learner survey, add affordable combo packs (e.g., vetkoek + juice) and a loyalty stamp card C. Tell learners the vendor's chips are expired D. Close the tuck shop and give up

B. It is based on knowing the market (survey), product & customer focus (combos), builds a loyal customer base and keeps prices above cost (profitability) while being ethical. A = losses, C = unethical, D = no perseverance.