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Studying Business Grade 12

Working Smarter Workbook This book is to be used in conjunction with the Studying Business Grade 12 Textbook

Yvette Russell | Lisa Akerman | Séan Topper José Oliveira | Cathlyn Dracatos | Sumari Purdon

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Grade 12

Working Smarter Workbook This book is to be used in conjunction with the Studying Business Grade 12 Textbook

Yvette Russell Lisa Akerman Séan Topper José Oliveira Cathlyn Dracatos Sumari Purdon

PTY LTD

Working Smarter Workbook

Published by: Excom Publishers (Pty) Ltd Registration Number: 2017/328968/07 Enquiries: orders@excompublishers.co.za www.excompublishers.co.za Cell: 083 785 7813

Version 3.2.1

Design: Annalene Rautenbach info@annalene.com

Print: Ingwe Output Management Services (Pty) Ltd www.ingweoms.co.za

© 2020 Excom Publishers [Pty] Ltd All rights reserved Apart from any fair dealing for the purpose of research, criticism or review as permitted in terms of the Copyright Act, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage and retrieval system without prior written permission from the publisher. The publisher has no responsibility for the persistence or accuracy of URLs for external or third-party internet websites referred to in this publication and does not guarantee that any content on such websites is, or will remain, accurate or appropriate. There are instances where we have been unable to trace or contact the copyright holder. If notified, the publisher will be pleased to rectify any errors or omissions at the earliest opportunity. NOTE: Use of pronouns: Any gender shall include the other gender, and the singular shall include the plural and vice versa.

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Working Smarter Workbook

Table of Contents

Introduction

............................................................................................................................................ iv

Chapter 1

Conflict Management...........................................................................................................1

Chapter 2

Professionalism and Ethics..................................................................................................9

Chapter 3

CSR and Corporate Governance.......................................................................................15

Chapter 4

Creative Thinking and Problem Solving.............................................................................26

Chapter 5

The Micro, Market and Macro Environments.....................................................................30

Chapter 6

Entrepreneurship, Management and Leadership...............................................................46

Chapter 7

Marketing and Branding.....................................................................................................58

Chapter 8

Human Resource / Human Capital Management...............................................................71

Chapter 9

Industrial Relations and Legislation....................................................................................82

Chapter 10

Investment Opportunities and Insurance..........................................................................102

Chapter 11

Performance Management...............................................................................................122

This is a talking textbook! ‘Bubbles’ are located throughout the book, which provide QR codes that can be scanned to give you more information and additional examples. Simply download a free QR reader onto your smartphone or device, or click on the active links in the eBook versions to access these 6090 second interactive lessons, which will help you revise or catch up on missed concepts! Introducing Bubbles

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Working Smarter Workbook

Introduction Welcome to the Studying Business Working Smarter Workbook! Why a Workbook? With the new NCS curriculum and the added pressures of Skills Based Assessments (SBAs) in the classroom, teaching time is at a premium. Many schools are battling to get through the curriculum and the Grade 12 year has many other aspects that detract from class-time such as exams, external orals, study leave... as well as the normal intrusions caused by sport, extra-murals and other commitments. With the increased pressures of online teaching on a full-time or part-time basis, learners have to take more responsibility for their own work and this Working Smarter Workbook provides a suitable tool to ensure that all the necessary work is covered. The Working Smarter Workbook, which is complementary to the Studying Business textbook and follows the same format and headings, can be used in one of two ways: ○ Taking keyword notes in class, OR ○ As a revision tool for those learners who prefer to take more detailed notes, or notes in their own format in class. Learners can use the Working Smarter Workbook to test themselves whilst studying for tests and exams.

This handy tool therefore has the following advantages: ○ Provides learners with a complete framework covering all areas of the curriculum. ○ It enables learners to make key-word summaries during class. ○ For learners who are absent, it gives a concise summary of exactly what they need to catch up. ○ For visual learners, it creates an image of the main points in the chapter. ○ For learners who encounter difficulties academically or with the volume of content, it structures the main headings to focus them on the crux of the chapter without getting lost in detail. ○ Mind maps can be used either at the start, or end of a chapter to capture the most salient points. ○ Learners are forced to work through the detailed content in order to fill in the summary or draw up the mind map. ○ A detailed curriculum is neatly summarised into a ¼ of the total detail without losing any of the main factors or focus. ○ The Working Smarter Workbook provides learners with an excellent resource (in their own language) to use in preparing for examinations and tests. Time constraints make it difficult for learners to “relearn” the formal textbook before an exam and this book provides a solution.

We trust that this tool will make life easier for Educators and Learners alike!

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Working Smarter Workbook

Dear Learner We hope that the Studying Business Working Smarter Workbook will assist you in your studies. When using the Workbook you have to keep the following in mind: 1.

When studying, you have to revise your work several times before a test or exam. The more you revise it, the better you will be able to remember the content. Every chapter starts with a mind map. Use and abuse the mind map; make it your own! The mind map is there to assist you to get to know the work. Use it as a starting point for your studies. Once you know the content, it will be easier for you to apply it to case studies in tests, assignments and exams.

If you do not have a study method that works for you, try to make use of the SQ3R method.

Study

Questions

Read

Re-call

Revise

Study your work by making mind maps and summaries. Quiz yourself by asking questions. (You can use the headings in the mind maps to quiz yourself) Read through the work again so that you can re-enforce the content you are unsure of. Re-call what you have studied…

Revise the work again by going over summaries and mind maps.

Pay attention to the checklist at the end of each chapter. The content listed in the checklist is a guideline for what you need to concentrate on for each chapter. Identify the KEYWORDS and use it as a checklist to test yourself when preparing for tests and examinations.

Work through past exam papers to familiarise yourself with the style of questioning used by the examining panel. If you cannot answer a question, go back to the section of work covered in your workbook and then attempt the question again.

Chapter 1

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1. Team Dynamics

Conflict Management

2. Conflict Management

3. Reasons for conflict

Conflict management

6. Third -party interventions

4. Skills a manager needs to manage conflict

5. Recommendations for Conflict Management

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Working Smarter Workbook

Chapter 1

1. Team Dynamics

Teamwork and Conflict Management

Teamwork

Role overload

Role conflict

Role ambiguity

Synergy

2. Conflict Management 2.1 Functional vs dysfunctional conflict Functional

Dysfunctional

2.2 Advantages and disadvantages of conflict Advantages

Disadvantages

Conflict management

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Working Smarter Workbook

Chapter 1

3. Reasons for conflict 3.1 Change

3.2 Inclusivity and cultural diversity

Diversity

3.3 Lack of, or poor communication

3.4 Resource allocation

3.5 Personalities and Emotions

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Working Smarter Workbook

Chapter 1

3.6 Values and ethics: perceived or real

3.7 Inner conflict Definition

Issues leading to inner conflict

Resolving inner conflict

4. Skills a manager needs in order to manage conflict 4.1 Ability to deal with change

4.2 Tolerance regarding inclusivity and cultural diversity

4.3 Communication skills Skills and Tools in Conflict Management

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Working Smarter Workbook

Chapter 1

4.4 The ability to think and act strategically

4.5 Emotional intelligence to deal with different personalities and emotions

4.6 Values and ethics – perceived or real

5. Recommendations for Conflict Management 5.1 Stimulating functional conflict – Devil’s Advocate

5.2 Negotiation

5.3 Smoothing

5.4 Forcing

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Working Smarter Workbook

Chapter 1

5.5 Avoidance

5.6 Compromise

6. Conflict management through third-party interventions

Conflict resolution steps Negotiation

Conciliation

Mediation

Arbitration

Con-Arb Process

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Working Smarter Workbook

Chapter 1

6.1 CCMA

6.2 Workplace Forums (WPF)

Issues management should consult with WPF

6.3 Employers Organisations

Employer organisations will assist employers on issues such as:

6.4 Trade Unions See Chapter 9 for more detail.

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Working Smarter Workbook

Chapter 1

Checklist – Conflict management Are you able to define and discuss the following issues related to conflict management? ; Functional vs. dysfunctional conflict. ; Reasons for conflict. ; Make recommendations regarding the management of conflict. ; Possible outcomes of conflict determined by (inter alia) management skills. ; Show an understanding of Third Party Interventions such as Workplace Forums, Trade Unions, CCMA and Employer organisations.

Notes

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1 Some Basic Questions

Chapter 2

Professionalism and Ethics

2 Ethical Issues in the Corporate World

3 Why Business Ethics?

Professionalism and Ethics

6. Ethical Codes

5 Levels of Business Ethics

4. Ethics in different spheres of society

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Working Smarter Workbook

Chapter 2

Business Ethics 1. Basic questions a manager could consider ? Ethics ?

2. Some Ethical issues in the Corporate World 2.1 Conflict of Interest

2.2 Bribes, Corruption and Inappropriate gifts

2.3 Sexual Harassment

2.4 Unauthorised use of funds

2.5 Tax Evasion

2.6 Unfair Advertising

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Working Smarter Workbook

Chapter 2

2.7 Employment/labour issues Internet, email and device issues

Stealing from the company

2.8 Pricing of goods such as in rural tuckshops and spaza shops

2.9 Insider trading

Unethical Behaviour

2.10 Piracy

2.11 Counterfeiting and Bootlegging

2.12 Firing an employee for whistle-blowing

2.13 Consider the hundreds of other ethical issues

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Working Smarter Workbook

Chapter 2

3. Why business ethics? (Reasons for business ethics)

Why business ethics?

4. Ethics in different spheres of society Public sector/Government Private vs Public Sectors

Private sector

5. Levels of business ethics 5.1 Individual level

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Working Smarter Workbook

Chapter 2

5.2 Organisational level

5.3 Professional level

Professionalism

5.4 Societal level

5.5 International level

6. Professional codes of Ethical Conduct

Code of Ethics

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Working Smarter Workbook

Chapter 2

Code of Conduct

Checklist – Professionalism and ethics Ensure that you are able to: ; Discuss ethical behaviour in practice referring to issues such as conflict of interest, bribes, corruption, inappropriate gifts, sexual harassment, unauthorised use of funds, taxation, unfair advertising, employment/ labour issues, pricing of goods, insider trading, piracy, counterfeiting / bootlegging. ; Discuss the relevance of professional codes. ; Explain how professional, responsible, ethical and effective business practice should be conducted. ; Evaluate ethical/ unethical behaviour in different spheres of society.

Notes

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Chapter 3

CSR and Corporate Governance

Social Responsibility

CSR in South Africa

TBL – 3 P’s

King Code and Corporate Governance

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Working Smarter Workbook

Chapter 3

1. Social Responsibility 1.1 The concept of Corporate Social Responsibility (CSR)

CSR vs CSI

1.2 Corporate Social Investment (CSI)

1.3 Sustainability

Sustainability

1.4 Implication of CSR for business and communities 1.4.1 Positive impact for a business

1.4.2 Negative impact for a business

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Working Smarter Workbook

Chapter 3

1.4.3 Positive impact for the community

1.4.4 Negative impact for the community

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Working Smarter Workbook

Chapter 3

2. CSR in South Africa 2.1 Various factors contributing to the need for CSR in S.A.

2.2 Poverty

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Working Smarter Workbook

Chapter 3

3. Triple Bottom Line Reporting (also known as 3 P’s: People, Planet, Profit)

Triple Bottom Line Reporting

4. The King Code and Corporate Governance 4.1 Introduction Good Corporate Governance

King Code 1

King Code II

King Code III

King Code IV

The need for the code:

King Code IV

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Working Smarter Workbook

Chapter 3

Apply and Explain Approach

4.2 A governance framework

Link between Governance Principles and the law:

WORKS IA ED M

PTY LTD YOUR VISION IS OUR MISSION

Studying Business for Grade 12 The Grade 12 Studying Business book which accompanies this Workbook, cements the commercial concepts learnt in the FET phase to date. The format encourages debate and problem solving within the context of current affairs and contemporary issues. This empowers school leavers to be effective global economic citizens and successful entrepreneurs with inquiring minds. This Working Smarter Workbook can be used in conjunction with the Grade 12 textbook, enabling learners to both make their own notes in class, and use as a study aid when preparing for tests and examinations. The workbook also includes mindmaps which can be completed to summarise each chapter. Online learning has become more important than ever, and these workbooks are the ideal tool for learners to manage their learning and ensure they cover essential theory. The framework format is based on the short questions learners can expect in examinations and allows them to plan their answers to fit the available space. With the added pressure of external examinations and a shorter academic year in Grade 12, the Working Smarter Workbook will help to cover the curriculum. Introducing Bubbles

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Research

Both this Workbook and the Grade 12 Studying Business textbook include ‘Bubbles’ for the learners to use. These are short, online interactive lessons which allow learners to revise concepts instantly and get additional examples and explanations through scanning QR codes or clicking on the active links on the eBook versions. Bubbles are very useful for revising basic concepts and invaluable for learners who are studying online.

Life Orientation

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Introducing Bubbles

www.excompublishers.co.za

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