Grade 10 Business Studies Comprehensive Revision

Practice flashcards in fill-in-the-blank style covering core Grade 10 Business Studies concepts, environments, functions, forms of ownership, and strategic tools.

The business has full and complete control over its __________.

micro-environment

A __________ refers to what the business wants to achieve in the long-term, representing the dream of the business.

vision

A __________ describes what the business provides or produces and explains the reason for the business's existence.

mission statement

The diagram illustrates three levels of management within an organisational __________.

organogram

The four main groups of organisational resources controlled by management are physical, financial, human, and __________ resources.

information & technological

The five basic management tasks carried out in a business are planning, organising, leading, controlling, and __________.

risk management

Top management makes long-term strategic decisions, whereas middle management makes medium-term __________ decisions.

tactical

Capital used to finance long-term assets such as land and buildings is called __________ capital.

fixed

The return on borrowed capital is paid in the form of __________.

interest

The inspection of the final product to ensure that it meets required standards is known as quality __________.

control

The continuous maintaining of the required level of quality carried out during and after the production process is known as quality __________.

assurance

This diagram illustrates the five core components that make up the __________.

market environment

Government bodies that make rules and regulations to monitor the operations of businesses are known as __________.

regulators

The tool depicted in this diagram used to analyze external challenges across six environmental factors is the __________ analysis.

PESTLE

The production process moving from growing wheat on a farm to milling flour and retailing bread illustrates the relationship between the primary, secondary, and __________ sectors.

tertiary

Businesses that are legally registered with the CIPC, pay tax, and are included in the country's GDP figures belong to the __________ sector.

formal

The main motive of businesses in the public sector is to provide a service, whereas the motive of the private sector is to __________.

make a profit

__________ in the workplace means ensuring all designated groups have equal opportunities without discrimination based on colour, creed, or gender.

Inclusivity

A __________ gives an inventor the exclusive right to make, use, or sell an invention or product for a limited period of time.

patent

The unlawful recording and selling of live or broadcast performances without permission is defined as __________.

bootlegging

The practice where a business actively manages its operations and resources to have a positive impact on society and the environment is called __________.

corporate social responsibility

A sole trader and general partners face __________ liability, meaning their personal assets may be seized to pay business debts.

unlimited

A public company requires a minimum of $3$ directors and its registered name must end with __________.

Ltd

The name of a personal liability company must end with the letters __________.

INC

A minimum of __________ members is required to establish a co-operative.

$$5$$

The problem-solving technique that relies on an independent panel of experts answering successive rounds of questionnaires is the __________ technique.

Delphi

The structured brainstorming method where participants silently write down ideas on their own before ranking them through a voting process is the __________ technique.

nominal group

According to the criteria of a good research instrument, an instrument is __________ if it obtains the same results from the same person participating a second time.

reliable

In the strategic planning model shown, strengths and weaknesses are classified as __________ factors.

internal

The 7Ps marketing mix consists of product, price, place, promotion, people, process, and __________.

physical environment