Grade 11 Business Studies Term 3 Review

Comprehensive practice flashcards covering entrepreneurial qualities, action plans, presentation skills, teamwork, team dynamic theories, and conflict management from the Grade 11 Business Studies notes.

How is an entrepreneur defined in the notes?

An entrepreneur is a person who demonstrates the attitudes, behaviours, knowledge, and skills needed to start and make a success of a business venture, bearing most of the risks and enjoying most of the rewards.

What is meant by the quality of perseverance in an entrepreneur?

Perseverance means an entrepreneur does not give up despite challenges and problems, views difficulties as opportunities, and puts in continuous effort even after failing several times.

What are the three components of the triple bottom line that a sustainable business manages?

Profits, people, and planet.

In the Elite Salon scenario, what actions demonstrated Thuli's creativity and innovation?

She provided special services for clients unable to visit the salon during stage 3 lockdown and supplied masks and gloves for clients wanting to use her services without wearing their own.

What is the definition of an action plan?

An action plan is a record of activities showing how those activities will be organized to achieve the goals set out in the business plan.

What is a Gantt chart?

A Gantt chart is a bar chart that illustrates a project schedule by showing the start and finish dates of terminal elements and summary elements of a project.

What are the four steps involved in creating a Work Breakdown Structure (WBS)?

1. Identify one key activity. 2. Sub-divide the task into secondary tasks. 3. Break down each secondary task into more details. 4. Check for logic, sequence, and details.

How do verbal and non-verbal presentations differ regarding storage and delivery?

Verbal presentations exchange information orally, can be heard, and cannot be stored; non-verbal presentations communicate through printed media, can be read, and can be stored.

What is the key difference between analytical reports and informative reports?

Analytical reports provide data and conclusions with recommendations included, whereas informative reports present data without analysis or recommendations.

What guidelines should be followed when preparing presentation handouts?

Structure information logically, use legible font sizes, choose helpful images, check for spelling errors, avoid busy borders/different fonts, and leave an empty page at the end for audience notes.

What are the five stages of team development in order?

1. Forming stage 2. Storming stage 3. Norming/Settling and reconciliation 4. Performing/Working together towards achieving a goal 5. Adjourning/Mourning

According to Belbin Role Theory, what are the characteristics of the Plant role?

The Plant is thought-orientated, creative, innovative, comes up with new ideas, prefers to work apart from the team (introverted), and thrives on praise.

What are the four Jungian pairs of opposing attitudes and functions?

1. Extrovert versus Introvert 2. Sensing versus Intuition 3. Thinking versus Feeling 4. Judging versus Perceiving

What three factors are measured in the MTR-I (Management Team Role Indicator) approach?

1. What the person is doing. 2. What colleagues think each other is doing. 3. The position description for each team member.

How does Traditional Theory of conflict management differ from Contemporary Theory?

Traditional Theory assumes conflict is bad, caused by troublemakers, and should be suppressed; Contemporary Theory views conflict as a normal, potentially beneficial part of change managed through negotiation to reach win-win solutions.

What is a workplace forum according to the Labour Relations Act?

An elected organization of employees in a business that employs more than 100 people, introduced to promote communication and resolve workplace conflict.

What are two key differences between a trade union and a workplace forum?

1. Trade unions negotiate salaries/wages, while workplace forums do not deal with remuneration. 2. Trade unions can organize strikes under certain circumstances, while workplace forums cannot.