Beruflich Dokumente
Kultur Dokumente
QUESTION 2
In order to arrange a new business, state three (3) types of goals and
three (3) levels of goals. ( 3 marks )
Types of goals :
1. Vision/purpose
2. Mission
3. Objective
Levels of goals :
1. Long - term goals
2. Intermediate goals
3. Short - term goals
QUESTION 3
DEFINE BUSINESS AND EXPLAIN THE FOUR (4) PURPOSES OF
GOAL SETTING IN BUSINESS. (10 MARKS)
DEFINITION OF BUSINESS :
BY KHALIDAH KHALID, A BUSINESS IS AN ORGANIZATION UNDER
ONE MANAGEMENT, SET UP FOR THE PURPOSE OF EARNING
PROFITS BY PROVIDING GOODS AND SERVICES FOR SALE IN
MARKET.
WHILE, IN THE OTHER OPINION BY MADURA, A BUSINESS(FIRM) IS
AN ENTERPRISE THAT PROVIDES OR SERVICES THAT CUSTOMER
DESIRE.
When the managers set goals for their firms, they establish
directions where the firm is going and what the firm want to
achieve. Helping the manager to run the business effectively and
efficiently.
Its
Its
Its
QUESTION 4
Explain three (3) roles of business. ( 6 marks )
The roles of business is to provide employment by opening more
jobs opportunity to society. Its will reduce poverty and increase standard
of living.
The second point is to help the country to increase the growth rate
through promote exchange rate between two countries (economic) such
as offer an affordable price to outsider for marketing product . It will
helps country to maintain high standard of living .
The third point is business help to protect the environment by
preserve the environment in healthy condition by reducing contamination
and pollution. Owner of the business can make a collaboration with
consumer to promote the environmentally safe product and service such
as make biodegradable fertilizer and merchandise .
QUESTION 5
DISCUSS TWO FORMS OF BUSINESS OWNERSHIP (4M)
There are three major forms of business ownership which are sole proprietorship,
partnership and corporation.
First form of business ownership is sole proprietorship. This form is owned by one
person. It does not need to be operated by one person solely, instead it can have large
number of employees. Furthermore, sole-proprietorship also has the large numbers of
business in most country. It usually exits in small size such as restaurant, laundry shop
and bakery shop. This form is the simplest form of business ownership.
Second form of business ownership is partnership. It is an association of two or
more persons to act as co-owners of a business for a profit. This form of business is
owned by two or more persons carrying a business in a common view of sharing the
profits and losses of the business.
QUESTION 6
Identify two function of business. (5 marks)
Preserved knowledge
Expertise can preserve the knowledge by having
the business. Then, people can know more about
business and can help country economy to growth.
With knowledge, we can improve the lives and
expend more knowledge thinking. After that, they
can train the other with their knowledge to
continuing improvement.
QUESTION 7
If you were to start a business, explain five (5) key function needed to operate the business.
(10 marks)
QUESTION 8
Define sole proprietorship and explain three and two
disadvantages of sole proprietorship. (12 marks)
Sole proprietorship or sole trader is considered to be
the simplest form of business organization, whereby it is
owned by one person. However, it does not need to be
operated solely by one person ; it can have a large number
of employees instead. Sole proprietorships represent the
largest number of businesses in most countries, and
typically the smallest ones in size. For example:
restaurants, travel agencies, bakery shop, laundry shop.
Feeling of isolation.
Running a business alone would give you the
freedom in making decisions, but it also creates the
feeling of isolation where one would feel that he/she
cannot turn to anyone for help when there is a
problem or in obtaining feedback.
Short life of business.
Most sole proprietors face the problem of succession ,
whereby if the owner dies, the business goes with
him/her. Usually, there are no plans laid for the
continuity of the business.
QUESTION 9
Briefly explain two types of partnership (4 marks)
Partnership consists of two types which are general partnership and
limited partnership. General partnership is an association of two or more
person with each general partners as co-owner having unlimited legal
liability. This partner is responsible for all the debts of the enterprise and
may loose their personal assets as they have unlimited liabilities.
Limited partnership is a business co-owned by one or more general
partners who manage the business and limited partners who invest
money in it. They can lose the capital they have put in but they are not
required to pay partnership debts as they have limited liability.
QUESTION 10
Explain (3) advantages and two (2) disadvantages of partnership. (10 marks)
ADVANTAGES OF PARTNERSHIP:
COMBINED BUSINESS AND KNOWLEDGE
Several partners in a business could bring benefits in terms of
idea or expertise since different people have their own vision or
ways to improve business. Partners share decisions making,
help each other out. More partners means more brains with
result an outstanding business ideas for solving problems that
the business encounters plus two head are better than one.
DISADVANTAGES OF PARTNERSHIP :
UNLIMITED LIABILITY
In a partnership, the liability of the partners for the debts of the
business is unlimited. Each partner is jointly and severely liable for the
partnerships debts that is each partner is liable for their share of the
partnership debts as well as being liable for all the debts. This will
cause partners to lose their personal assets such as vehicle or house.
LACK OF CONTINUITY
If a partner deceased or retires could shut down the business
permanently. A negotiation will have to be made in order to establish a
new partnership. Transfer of ownership can be quite difficult unlike in
corporations. In a nutshell, a partnership can be potentially unstable
because of the danger of dissolution if one partner want to withdrawal
from the business or dies.
QUESTION 11
Identity four(4) characteristics of corporation
(4 marks)
CHARACTERISTIC OF THE CORPORATION ARE
LIABILITY MEMBER ARE LIMITED TO THE NUMBER OF
SHARES SUBSCRIBED. NEXT, THE COMPANYS
OPERATION IS GOVERNED BY THE COMPANIES
COMMISSION. THEN, COMPANY MUST PUBLISH ITS
FINANCIAL REPORT. FURTHERMORE, ALL TAXES
MUST BE PAID BY THE COMPANY.
QUESTION 12
Explain two(2) disadvantages of corporation. (4 marks)
QUESTION 13
Explain five (5) types of business support system in
business. (10 marks)
A business support system (BSS) is a group of business elements
used in networking to help service providers gain customer
insight, compile real-time subscriptions and introduce new
revenue generating services.
A BSS is critical because it helps service providers support and
extend operations to enhance business services. Business
support systems are used by all service providers, including
mobile, fixed and cable networks.
TECHNICAL
ASSISTANCE
FINANCIAL
ASSISTANCE
INFORMATION
PROVIDERS
MARKETING
ASSISTANCE
INFRASTRUCTURE
ASSISTANCE
TECHNICAL ASSISTANCE
TECHNICAL SUPPORT SERVICES ADDRESS SPECIFIC
PROBLEMS WITH A PRODUCT OR SERVICES RATHER THAN
THE PROVISION OF TRAINING,CUSTOMIZATION OR
OTHER SUPPORT SERVICES.
MOST COMPANIES OFFER TECHNICAL SUPPORT FOR THE
PRODUCT THEY SELL EITHER FREELY AVAILABLE OR FOR A
FEE.
IT ASSIST ENTREPRENEUR IN IMPROVING THEIR
PRODUCTION METHODS AND DEVELOPING SYTEMATIC
MANAGEMENT PROCES.
EXAMPLES
PALM OIL RESEARCH
INDUSTRY
MALAYSIA (PORIM)
FOREST RESEACH
INSTITUTE
OF MALAYSIA (FRIM)
FINANCIAL ASSISTANCE
IT IS GIVEN BY A COMPANY FOR THE PURCHASE OF ITS
SHARES OF THOSE OF ITS HOLDING COMPANIES.
FINANCIAL FACILITIES OR ACCOMODATION IS PROVIDED
BY FINANCIAL INSTITUITION FOR AN ENTREPRENEUR TO
START AND PERFORM A BUSINESS.
EXAMPLES
MAJLIS AMANAH
RAKYAT (MARA)
BANK PERTANIAN
MALAYSIA (BPM)
MALAYSIA INDUSTRICAL
DEVELOPMENT FINANCE
BERHAD ( MIDF)
MARKETING ASSISTANCE
THIS SYSTEM IS USED TO HELP BUSINESSES EXPLORE
DIFFERENT SCENARIOS BY MANIPULATING COLLECTED
DATA FROM THE PAST EVENTS.
IT IS ALSO A DECISION SUPPORT SYSTEM FOR
MARKETING ACTIVITIES CONSIST OF INFORMATION
TECHNOLOGY,MARKETING DATA,SYSTEM TOOLS AND
MODELING CAPABILITIES TAHT ENABLE TO PROVIDE
PREDICTED OUTCOMES.
EXAMPLES
FEDERAL AGRICULTURAL
MARKETING AUTHORITY
(FAMA)
INFORMATION PROVIDERS
EXAMPLES
FOREST RESEARCH
INSTITUDE
OF MALAYSIA (FRIM)
STANDARD AND
INDUSTRIAL
RESEARCH INSTITUTE
OF MALAYSIA
(SIRIM)
INFRASTRUCTURE ASSISTANCE
REFERS TO STRUCTURES SYSTEM AND FACILITIES
SERVING A COUNTRY.
IT TYPICALLY CHARACTERISTICS TECHNICAL
STRUCTURES AND CAN BE DEFINED AS "THE PHYSICAL
COMPONENTS" WHICH PROVIDES COMMODITIES AND
SERVICES ESSENTIAL TO ENHANCE SOCIETAL LIVING
CONDITIONS.
PROVIDE SUITABLE BUSINESS LOCATION EQUIPPED
WITH ALL TYPES OF FACILITIES INCLUDING UTILITIES.
EXAMPLES
URBAN DEVELOPMENT
AUTHORITY (UDA)
MAJLIS AMANAH
RAKYAT
(MARA)