COURAGE CHINKG, , . TIONS & A - or ars RC NSW.in Zirnbabwe. Discuss. he employment problem in ium enterprise can solve tt {a)The small and medium ‘ ‘The following approaches are being used by SMEs in solving employment problem in f i ’ Zimbabwe © Self employment creation Informal sector creation '* Creation of jobs for other people ‘+ _ Inspiration of ot ers to venture into entrepreneurship * Being sub-contracted by large firms ‘Also discuss some challenges/limita-ions encourtered by SMEs “ : ad. ()Briefly analyse the challenges the small'snd medium entrepreneur in Zimbabwe faces. (20) ¢ Sceptical public that distrusts Iccal products and prefer foreign products ~ _Inexperienced lsbour . Skills shortages Lack of access to cheap money Lack of collateral Lack of entrepreneurial skills Volatile political environmert *_Suff competition from cheap imports ‘tow disposable income of potential customers (c) Show how correct Costing can ensure a sustainable return on investment. (10) ~ define or compare and contrast costing and Profit of return on investment, show the various costs in a business — direct Costs, indirect costs and the pricing factors and final mark up after accounting for all costs, (6) How, as a small to medium entrepreneur would you motivate and retain your Employees in a situation where wages are low due to a poor or depressed economic situation? (10) “Stole / identify major motivation theories * Maslow’s hierarchy of social needs ® Alderfer’s modified needs theory * Ferzberg’s two factor theary# JnAcCleliand’s Achievement motivation theory Commeht on each theory showing that money is not the only motivator Application of the theories in a small business. stion Good business ethics is a marketing strategy. Discuss:130) Define ethics Morals / socia'ly acceptable business practices Identity correct business practices in relation to the following + Environment ~no polluting practices Relations with the community ; © Employment — safe working, conditions, legal employment COnenay, ©. Openness to shareholders State relations ~ pay all tax2s and levies " ~ marketing mic elements discussed * product- quality, size, packaging, branding, instructions, safety, side effects * place-accessibility, artificial shortages, presentability + price-price policy, * promotior- false & misleading adverts, bribes, Show how accurate and efficient flow of information in a small or medium business fenterprise is necessary for sustainable growth and indicate the barriers thet normally hinder such free flow of information. (20) ~ Establish parameters of information through the: use of the communication process Paradigm namely: sender Encoding Decoding a message. channel—- eceiver ¢ cine pea, a | © iscuss the importance of communicating in an organisation * Exchange of information ‘\ Dealing with complaints ® Placing orders with suppliers © Giving instruction & orders * To share the same goalant language & culture of jargon alyse the advantages and disadvantages of the type or form or business you would ‘and which is specific to your area of course specialisation Identify all forms of busine Sole proprietor Cooperative Partnerst Private tims Parastatal Select and state rea: advantage and disadvantage Marks for reasc parks for five tial for the growth of a small or medium business. (10 marks) he appropriatengss of the “first-in first-out” and “last =in first Methods of stock coiftrol. (10) , 5 Identity / define record keeping wh Process of storing and retrieving data and information in various fo electromtic or hand copies. ss for which records are used ic purposes mapping i perational projects of the busiJes dispossessed and pauperised native een as being through employment from venturing into busine: nich could have rhe challenges you are likely to encounter when establishing your business. (5 marks) ital means to get business started shnical expertise to effectively run business from imported products riencing liquidity crisis which limits consumer demand.extent to which accurate costing and pricing of products / services in your business ble you to avoid losses and maximise profits. (5) Dect of accounting for all inputs into production or provision of ty of all costs and the factoring in of profit or return on The influence of accurate pricing and costing on an ent erprise’s profit position can be fully appreciated. when viewed in the context of the break even analysis concept Albusiness organizayon is said_to have broken even when it recovers all its costs of production. At the break-even point, a firm {makes neither a profit ‘nor loss Production beyond the break even point will result in a firm making profits and if P Production below the break even point will result in a loss. From the foregoing, it is important for firm to be aware of its’ break even level ction and sales Prevenve if itis to attain profit and avoid loss. This can onl | accurate costing and pricing technique Measures yoo would take in ensuring that your business practices areiccessful entrepreneurship Tcredi f entrepreneurship jers to trade) and petty trading onomy ~ banks and industry “Foreign ownership of major sectors of the Duntry you are comparing with in you presentation. source documents in accounting en the primary or to nd’ nt on the. way you would employ the: f your business. » (20) Differentiate the primary / bookkeeping roles and purposes* and the pur Baccounting roles — the, accounting cyc cs of accounts adjusted Trail balanceBends On the soundness of the business idea bles one to set goals total commitmgnt Enables one to seek Mivise 6 is able to study the operating environm OT analys Enables one to keep on keeping on on the positiv the negatives to improve them & utilise existing gaps (causes and origins of the employment syndrome of indigenous Zimbabweans. ples of causes include; ‘ St policies during {§e colonial era e.g. press ganging, hut tax, land Tenure Act h forced Africans ¥o seek employment rather than starting own ventures from conducting particular business venturesFepting orders below normal selling, pri stablishi iB examples, discuss the importance of ratio analy (20) ing types of ratios profitability ratio efficiency ratio asset utilization ratio capitalisationHand medium enterprise can solve the employment problem in Zimbabwe, (20 marks) : Following approaches are being used ty i employment problem in imbabwe Self employment creation Informal sector creation Ereation of jobs for other je Inspiration of others to venture in Being sub-coniracted by large firms Also discuss some challenges/limitations er 9 's the arrangerhent in ad ill be implemente Itis made up of various components. TheWPrefets to factors that directly influence an or Ges-potential employees availability, skl Of work environment motivati " —— ae & management Government ~ set laws MWorking conditions, level of taxe: Suippliers — prices, reliability payment SGistomers — customers must be put | Safe, durable products,, prompt att Care, handling of grievan Price controls, foreign trade restrictions, wage restrictions quality, convenience es, Lerms of Dy providing good value for money tion, long term satisfaction, good customer Competitors — keep track of payments Financial institutions ~ supply financial servic Prove credit worthiness and credibility Tabour unions ~ have wider exp: rivals’ pric technology, quality, terms of interest rates, return on investment tations in terms of work life justice in treatment, s00d remuneration, job security, right to bargain jo-economic importance of entrepreneurship in Zimbabwe. (20) fires a discussion of both the social and economic factors. yment revenue- pay tax anufacturing, distribution & constructionMof business relates to, the legal statu * Co-operatives e D2 Limited companies i J & ple Wychosen form of business sYould be discussed'in terms of the following f umentation, registration, F capital y- limited or unlimite ship, manageméht & control Hunetions af manafement. For theshe Fesources to use *rmining the time-frame ASSIgning responsibilities “Designing Results in for the activities a control procedure usiness plans Can be motivational if challenging s are strategies are set Leading, BS the ability to initiate action, gui ses & directs others (subordinate) in pursuit © facommon set goal + improves manage £ Can lead to inc of intormation, smmunicatio Asures that staffing i lection, appraisal & evelopment of personnel to fill t © Organizing ISthe process of bringing together physical, financial urces & developing productive relationships amongst them for the achievement of set goals. Organizing as “Process involves: Identification of activities & allocation of resources Elassification or prouping ot Distribution & Assignment of duties Delegation of authority & creation of responsibility3s plan before the establishment of a Seeking finance Provides a “road map to riches ‘An essential document for de Enables measure progress of business Establish a framework for action to achieve P Helps to monitor current operatio necessary for the success of the bu Attracts personnel, Bippliers, cust nasis for tontrolling operations. ned and developed after having identified unmet need in € or product is only de: irket. This becomes the source a business idea.nature of the channel of distribution, will distributio ature of the logistics process. ket must be of high quality, have a premium price and be s your business. In addition, te against the effect of risk the uncertainty and anxiety it instils within members of an organization Bihe costs that a business incurs when trying to mitigate agair “perceived sk Money thor shout st the effects of the gh a number of ways. These includ IEE this 1s some kind of risk transfer from the insured to 1 rer through. ities so as to minimize jolves using preventive measures to minimize the effect of ri id fire resistant walls as a preventive measure agai ee i