Business Studies RESOURCES
Posters see page 112
Also available in Afrikaans
Business functions Entrepreneurship
Quality
Productive effi ciency of a business depends on the quality of each business function. This means that all functions need to be quality-controlled in order for the business to make a profi t.
1. General management
Responsible for: the success of the business in terms of achieving its goals
Activities: plans, organises, implements, manages activities of other business functions
2. Administration
Reponsible for: the internal systems and procedures needed by other business functions to perform properly
Activities: manages information and data, internal communication, offi ce space and practices, information technology
3. Finance
Responsible for: managing the business’s money and assets
Activities: acquires, allocates, invests and plans the business’s capital and income
4. Purchasing
Responsible for: acquiring goods, materials and services required by all other
business functions to perform properly
Activities: buys goods needed at the right price, the right quality, the right quantity, from the right supplier and at the right time
5. Public relations
Responsible for: the image and reputation of the business to the public
Activities: communicates to the public and stakeholders through the media
6. Production
Responsible for: processing raw materials and skills into products and services
Activities: uses skill, knowledge, labour, capital, and fi xed and current assets to convert raw materials into goods and services for consumers
7. Marketing
Reponsible for: transferring goods and services from the producer to the consumer
Activities: locates the consumer, advises the production function on product development, grades, prices, stores, sells and distributes products and services
8. Human resources
Reponsible for: human capital, labour and skills management
Activities: recruits, selects, places, develops, trains, and maintains human capital in the business and implements systems governing how the human capital functions
FET PHASE
Dictionaries see pages 100–101
Additional free resource Download from
freeresources.oxford.co.za
Free teacher workshops
50 Oxford University Press South Africa
OxfordSASchools
Skills Development Act No. 97 of 1998 (SDA)
Purpose: Develops the skills of all people in South Africa to improve productivity
Nature
• Improves skills and potential earnings of the current workforce
• Improves standard of living by increasing earning potential
• Increases investment in education and training
• Increases employment opportunities for previously disadvantaged individuals
Advantages Employers
• Improves productivity as employees are better trained
• Increases competitiveness of the business
• Increases opportunities for development of skills
• Affords previously disadvantaged individuals the chance to be trained
Employees
• Increases skills required in the workplace
• Acknowledges skills already acquired • Promotes self-employment • Makes people employable by increasing skills
• Promotes constant development Disadvantages Employers
• Reduces working hours during training
• Requires personnel to implement and manage training
• Wastes time and money training employees who leave the business
Employees
• Employees depend on the employer for education and training
Compliance and penalties
Businesses pay 1% of their payroll value to SARS
SARS
administers this fund
Labour inspector will monitor compliance with SDA
80% goes to SETA
20% goes to National Skills Fund (NSF)
SETA is responsible for training in the workplace
NSF drives skills development for designated groups
Businesses provide opportunities to upskill employees
Businesses provide opportunities to upskill employees
National Skills Developments Strategy National
Qualifications Framework (NQF) framework for learning achievements
Sector Education and Training
Authorities (SETAs) monitor and assess training in each learning sector
South African Qualifications Authority (SAQA) oversees the implementation and development of the NQF
Education and
Training Quality Assurance (ETQA) qualifies trainers, produces course materials and checks that training is NQF compliant
National
Standards Bodies (NSB) makes
recommendations on the standards of NQF to SAQA
Standard Generating Bodies (SGB) develop standards and qualifications for each
learning area
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