IEB Grade 12 Business Studies: Business Roles and Business Operations (Book 2 of 3)

Comprehensive set of 200 vocabulary flashcards covering Business Roles and Business Operations for Grade 12 IEB Business Studies, Book 2 of 3.

Problem-solving

The comprehensive process of identifying a problem, finding potential solutions, and implementing a solution.

Decision-making

The specific step within problem-solving that involves choosing between two or more alternatives.

Mental blocks

Psychological barriers to creative thinking, such as fear of failure, fear of criticism, believing there is only one right answer, rigid rule-following, stress, routine thinking, and lack of confidence.

Indigenous thinking

Problem-solving and business creation that draws upon local, traditional knowledge, culture, and values (such as ubuntu, community decision-making, and indigenous plants like rooibos, buchu, and marula).

Problem-solving process: Step 1

Identify and define the problem.

Problem-solving process: Step 2

Gather information and find the root causes of the problem.

Problem-solving process: Step 3

Generate alternatives using creative thinking techniques.

Problem-solving process: Step 4

Evaluate the generated alternatives.

Problem-solving process: Step 5

Choose the best solution among the evaluated alternatives.

Problem-solving process: Step 6

Implement the chosen solution using an action plan.

Problem-solving process: Step 7

Monitor and evaluate the results of the implemented solution.

SCAMPER

A creative thinking checklist of questions used to improve a product or process, representing Substitute, Combine, Adapt, Modify, Put to other uses, Eliminate, and Reverse/rearrange.

SCAMPER: Substitute

Asking what components, materials, or steps can be replaced (e.g. offering oat milk instead of dairy milk).

SCAMPER: Combine

Asking what elements, products, or services can be joined together (e.g. offering a coffee and muffin combo deal).

SCAMPER: Adapt

Asking what parts or external concepts can be copied or adjusted to solve an issue (e.g. adding a drive-through window to a coffee shop).

SCAMPER: Modify

Asking what can be made larger, smaller, louder, or altered in size and appearance (e.g. offering mini and jumbo coffee sizes).

SCAMPER: Put to other uses

Asking how an existing item or by-product can be repurposed (e.g. packaging used coffee grounds to sell as garden compost).

SCAMPER: Eliminate

Asking what parts, features, or steps can be removed to streamline a product or service (e.g. removing plastic lids and straws).

SCAMPER: Reverse / rearrange

Asking how the order, sequence, or layout can be flipped or rearranged (e.g. ordering and paying ahead on a mobile application).

Brainstorming

A group ideation technique where members generate as many ideas as possible in a short timeframe, focusing on quantity over quality without initial criticism.

Force Field Analysis

A problem-solving model developed by Kurt Lewin that lists and scores driving forces (for a change) and restraining forces (against a change) from $1$ to $5$ to guide decisions.

Pros and cons chart

A two-column decision-making tool listing the advantages and disadvantages of an option, weighted with positive and negative scores to compare totals.

Decision tree

A visual diagram mapping decisions using squares for decision points, branches for alternatives, circles for chance events with probabilities, and calculated expected values.

Expected Value (EV)

The weighted financial outcome of an event calculated on a decision tree as: $\text{EV} = \text{Probability} \times \text{Outcome}$.

Value Chain Analysis (as a problem-solving technique)

Examining primary and support business activities to pinpoint the exact department or process where waste or failure originates and targeting interventions there.

P²E²STLE analysis (as a problem-solving technique)

Scanning the macro environment across Political, Physical, Economic, Ethical, Social, Technological, Legal, and Environmental factors to identify external causes of operational issues.

SWOT analysis (as a problem-solving technique)

Assessing internal Strengths and Weaknesses alongside external Opportunities and Threats to formulate solutions (e.g. using Strengths to pursue Opportunities).

The Delphi technique

A structured decision-making method where a facilitator gathers expert opinions through repeated rounds of anonymous questionnaires until a consensus is reached without panel members meeting.

Business ethics

Moral principles regarding what is right and wrong that guide behaviour and business decision-making.

Professional behaviour

Conduct aligned with the recognised standards and codes of a profession or job, characterised by competence, punctuality, respect, reliability, and confidentiality.

Responsible behaviour

Being accountable for one's business actions and actively managing their impact on stakeholders, society, and the natural environment.

Ethical behaviour

Conduct that is morally right, honest, fair, and transparent, even when the law does not strictly mandate it.

Effective business practice

The achievement of commercial goals efficiently and productively through the optimal allocation and utilisation of resources.

Citizenship roles of business

The obligations of an enterprise to act as a good corporate citizen by obeying the law, paying taxes, behaving ethically, protecting the environment, and contributing via CSR.

Contract

A legally binding agreement entered into by two or more parties that creates rights and duties enforceable by law.

Consensus (contract requirement)

Genuine mutual agreement between contracting parties achieved through offer and acceptance, freely given without fraud, duress, or material mistake.

Contractual capacity

The legal capability of a party to enter into a valid contract (being $18$ years of age or older, of sound mind, and not legally insolvent for specific transactions).

Legality (contract requirement)

The requirement that the terms, purpose, and performance of a contract must be lawful and not contravene common law or legislation.

Physical possibility (contract requirement)

The requirement that the obligations agreed to under a contract must be practically achievable and physically capable of being performed at the time of contracting.

Formalities (contract requirement)

Specific statutory criteria, such as requiring agreements to be in writing and signed (e.g. land purchases and credit agreements), to ensure legal enforceability.

Certainty (contract requirement)

The requirement that the terms and provisions of an agreement must be sufficiently clear, defined, and unambiguous so that performance is ascertainable.

Lease agreement

A contractual agreement where the property owner (lessor) grants temporary use of an asset or premises to a user (lessee) in exchange for regular payments.

Instalment sale contract

A contract where the buyer takes possession of goods and pays in periodic instalments, with ownership passing only once the item is fully paid.

Outsourcing contract

A legally binding agreement where a business contracts a specialised external service provider to perform an operational function (e.g. IT, cleaning, or payroll).

Breach of contract: Specific performance

A legal remedy wherein a court orders the breaching party to fulfil the exact obligations originally agreed upon in the contract.

Principle-based theory

An ethical theory holding that actions are inherently right or wrong based on established rules, duties, and values (e.g. honesty and fairness), regardless of the consequences.

Consequence-based theory

An ethical framework where an action is judged as right or wrong entirely by its results; carries the moral risk that "the end justifies the means."

Narrative theory

An ethical theory asserting that ethical choices are grounded in context, personal stories, local community values, and cultural beliefs such as ubuntu.

Utilitarian theory

A consequence-based ethical theory stating that the morally right action is the one that produces the greatest good for the greatest number of people.

Code of ethics

A foundational document outlining the core values, moral principles, and philosophical standards (e.g. integrity and honesty) that guide overall company decision-making.

Code of conduct

A set of explicit workplace rules prescribing acceptable and unacceptable employee behaviours regarding dress, gifts, use of property, confidentiality, and discipline.

Conflict of interest

A scenario in which an individual's personal interests (such as family, side investments, or outside business ties) clash with their professional duty to the enterprise.

Bribe

Offering or receiving money, gifts, or improper favours with the intention of dishonestly influencing a commercial or official decision.

Corruption

The unlawful abuse of a position of authority, power, or employment for illegitimate private gain or enrichment.

PRECCA (Act 12 of 2004)

The Prevention and Combating of Corrupt Activities Act, requiring individuals in authority to report corrupt transactions of $R100\,000$ or more under s34.

PRECCA Section 34A

A corporate offence provision introduced in $2024$ holding a company criminally liable if it fails to prevent bribery committed by its employees or associated persons.

Sexual harassment

Unwelcome conduct of a sexual nature that violates an individual's dignity, recognized legally as unfair discrimination under the Employment Equity Act.

Unauthorised use of funds

Using corporate funds, credit lines, or physical assets for unapproved personal spending, amounting to theft, fraud, or misappropriation.

Tax evasion

The illegal, intentional non-payment or under-payment of taxes through false declarations, misrepresenting records, or hiding taxable income from revenue authorities.

Tax avoidance

The legal exploitation of statutory tax provisions and allowances to minimise tax liabilities, which can become unethical if aggressively manipulated.

Bait advertising

An unethical and illegal marketing practice of advertising goods at attractive discount prices when the supplier lacks the intention or inventory to supply them.

Price gouging

Unethically inflating the prices of essential goods or services to excessively high levels during emergencies, natural disasters, or critical supply outages.

Price-fixing (collusion)

An illegal agreement among competing market players to coordinate selling prices rather than competing, prohibited under the Competition Act.

Insider trading

The illegal practice of buying or selling securities using confidential, price-sensitive information that is not publicly available, regulated under the Financial Markets Act $19$ of $2012$.

Piracy

The unauthorized, illegal copying, reproduction, or distribution of protected intellectual property, such as copyrighted software, films, music, or literature.

Counterfeiting

Manufacturing and distributing fake imitations of branded goods with forged logos, regulated under the Counterfeit Goods Act $37$ of $1997$.

Bootlegging

The illegal manufacture, transport, or sale of goods (notably alcohol and cigarettes) to evade customs duties and excise taxes, or illicitly recording performances.

Whistle-blowing

The act of an employee reporting illegal, fraudulent, or unethical corporate practices to internal leadership or statutory external authorities.

Protected Disclosures Act 26 of 2000

Legislation shielding legitimate whistle-blowers from occupational detriment, occupational retaliation, disciplinary action, dismissal, or demotion.

Professional code of conduct

A regulatory set of ethical standards and operating rules enforced by a statutory professional body (e.g. SAICA, HPCSA, ECSA, SACE) upon accredited practitioners.

State capture

Systemic political corruption where private commercial interests influence government decision-making, procurement, and state-owned enterprises (e.g. Eskom, Transnet).

Team

A group of people with complementary skills who collaborate towards a shared common goal and accept mutual accountability for outcomes.

Team dynamics

The psychological, behavioral, and interpersonal forces and communication patterns that shape how members of a team interact and perform.

Team synergy

The collective phenomenon where combined team performance exceeds the sum of individual individual contributions, represented mathematically as: $1 + 1 = 3$.

Belbin: Action roles

Task-oriented team roles defined by Meredith Belbin, consisting of the Shaper, Implementer, and Completer-finisher.

Belbin: People roles

Interpersonally oriented team roles defined by Meredith Belbin, comprising the Co-ordinator, Teamworker, and Resource investigator.

Belbin: Thinking roles

Cerebral and analytical team roles defined by Meredith Belbin, including the Plant, Monitor-evaluator, and Specialist.

Belbin role: Shaper

A dynamic, achievement-oriented team member who drives progress, challenges the team, and pushes past obstacles under pressure.

Belbin role: Implementer

A practical, reliable team member who systematically converts concepts and plans into manageable, executable action steps.

Belbin role: Completer-finisher

A conscientious team member who scrutinises output for errors, polishes work, and ensures deadlines are meticulously met.

Belbin role: Co-ordinator

A mature team leader who clarifies objectives, chairs discussions, facilitates shared decision-making, and delegates work effectively.

Belbin role: Teamworker

A supportive, diplomatic team member who fosters harmony, listens to others, diffuses friction, and maintains interpersonal cohesion.

Belbin role: Resource investigator

An extroverted, communicative role that explores external opportunities, develops business contacts, and sources ideas outside the immediate team.

Belbin role: Plant

A creative, unconventional, and innovative team member who generates original ideas and solves highly complex problems.

Belbin role: Monitor-evaluator

A sober, discerning, and analytical thinker who logically judges all options to prevent biased or flawed decision-making.

Belbin role: Specialist

A dedicated expert who provides rare, highly technical knowledge and specialised skills essential to the team's mandate.

Tuckman stage: Forming

The initial stage of team development where members get acquainted, act politely, and experience uncertainty regarding roles and team purpose.

Tuckman stage: Storming

The second stage of team development marked by conflict, disagreements over ideas, vying for leadership, and interpersonal friction.

Tuckman stage: Norming

The third stage of team development where members establish operating rules, clarify responsibilities, and build cooperative relationships.

Tuckman stage: Performing

The fourth stage of team development where the group operates smoothly, autonomously, and effectively towards achieving collective goals.

Tuckman stage: Adjourning

The final stage of team development where the primary task is concluded, the team disbands, and members reflect upon and celebrate achievements.

Employee Assistance Programme (EAP)

A formal corporate wellness initiative providing confidential counselling, health assessments, and stress support services to personnel.

Conflict

A disagreement or clash between individuals or groups arising from opposing needs, beliefs, values, interests, or operational goals.

Functional (constructive) conflict

Positive conflict focused on tasks and ideas that encourages innovation, sharpens decision-making, and strengthens relationships without personal hostility.

Dysfunctional (destructive) conflict

Negative conflict featuring personal insults and emotional hostility that lowers morale, causes absenteeism, diminishes productivity, and risks sabotage.

Conflict style: Avoiding

A conflict handling approach where a party ignores, suppresses, or physically withdraws from a dispute, leading to a lose-lose outcome.

Conflict style: Accommodating

A conflict approach where one side yields entirely to the preferences of the other to preserve peace, producing a lose-win outcome.

Conflict style: Competing (forcing)

An aggressive conflict strategy where a party prioritises its own interests at the direct expense of others using positional power, producing a win-lose outcome.

Conflict style: Compromising

A conflict resolution method where each party surrenders certain demands to achieve a mutually acceptable, partly win and partly lose resolution.

Conflict style: Collaborating

A problem-solving strategy where parties address root causes cooperatively to achieve an optimal win-win outcome that satisfies all interests.