Hayden Rengasamy

Business Studies
Task 5 Written Project Assessment
Gr 10
20 July

QUESTION 1: CREATIVE THINKING

1.1)
Creative thinking is the ability to create or conceive something new that has its
applications in solving an issue, developing a new product or service etc. This
lightens up the possibility of innovative thoughts that are not limited to the
existing constraints. On the other hand, making decisions is more concerned
with analysing a number of options or actions and then making up one’s mind
with regards to the analysed information. The process of creative thinking
emphasises brainstorming, free association and looking at the problem from
different angles and therefore a number of alternatives may be developed.
Triggering however in most cases center on judging the advantages and
disadvantages for the different available alternatives looking ad their outcomes
and choosing the right one relative to the guidelines and objectives. These
differences highlight how creative thinking is about coming up with abundance
of ideas while decision making is about making use of those ideas to determine
what needs to be done.

1.2)
Define the Change:
Understand exactly what is the change / decision you want to analyse. It can be
anything from the changes in the administration to marketing strategies for a
new product.

Identify Driving Forces:

In this step you will list all the factors that support or drive the change. These
may include advantages, prospects in the market, resources, or active support
of the stakeholders who will aid in realising the change.

Identify Restraining Forces:

Next, identify the factors which resist or restrain the change. These may be
barriers, difficulties, resource constraints, and negative attitudes from the
stakeholders that may pose a threat to realisation of the change.

Evaluate the Forces:

Determine the intensity of each driving and resisting force for the garnet
change. This can be achieved by giving scores (assuming that 10 is the highest
to indicate complete dependence with the factor) to each factor in opposition
of the change. This step helps to visualise which forces are stronger.

Develop Action Plans:

formulate measures in order to strengthen the driving forces and reduce the
restraining forces. This could involve more concerns, resources, or
communication introducing the benefits to stakeholders.

Review and Monitor:

And finally the change will be done and the forces will be evaluated on a
constant basis. Keeping an eye on the change and whether the drivers are
increasing and restrainers are reducing or not. Change the strategies as it is
needed based on the responses you get.

QUESTION 2: BUSINESS OPPORTUNITIES

2.1)
The process of doing research includes certain steps as a way of
maintaining the integrity and accuracy of the outcomes derived from
carrying out the research.

Identify the Research Problem:

This is the part where you learn as much as possible about the issue you are
interested in. This might involve formulating a hypothesis or research question
to be tested.

Examine Previous Research:

Review the existing research and find out what other researchers have studied
in this area. This is useful in finding out areas that have not been delved into
and clarifying this research’s objectives.

Design the Research Methodology:

Choose how the study will be conducted (using a qualitative, quantitative or
mixed approach) and how the data will be collected (questionnaires, interviews,
focus group discussions, etc.). Usually, this step also consists of specifying the
sample size and the sampling method.

Gather Information:
Conduct the chosen procedures in the effort to acquire information. Be sure to
complete the research ethically such as getting informed consent from the
participants and keeping their identities private.

Evaluate Data:
The interpretation of the collected data is done through statistical or qualitative
analyses. This requires arranging the data collected, finding out what trends
have emerged, and what conclusions can be made from the results received.
Delivering the Findings:
Draft a detailed report for the research that incorporates an introduction,
methods section, findings, discussions of the findings and of course, the
conclusion. Write your results especially linking them to the problem you posed
at the beginning of the research.

Reflect and Edit:

As the last step before submitting the report, make sure the report is checked
for factual and stylistic errors. It would also be useful to gain criticism of the
works from fellow students or superiors.

Communicate Learning:
Make the audience aware of your discoveries using relevant publications, talks,
or formal submissions in the case of such activities. This aids in enhancing the
growth of knowledge in one’s domain of study.

2.2)
SWOT analysis for A-Z Plants Ltd

SWOT analysis for A-Z Plants Ltd TWO factors for each
analysis.
(S) Strengths 1. You have a degree in BSc
(Agric). Since your childhood you
loved plants.
2. Water is no issue you can pump
it out directly from the river.

(W) Weaknesses 1. You struggle to find people who

are willing to work for R20 per
hour.
2. You need to employ 5
permanent workers for the
business.

(O) Opportunities 1. A tea garden can be a possible

way to expand the nursery and to
attract more customers.
2. Your business is situated on the
banks of the Vaal River

(T) Threats 1. There are 2 other nurseries in

town with competitive prices.
2. The one is already 22 years in
town.
QUESTION 3: PRESENTATIONS

3.1)
There are two methods of communication that are the verbal and non-verbal,
these strategies differ in many respects and mastering reasonable is a good
idea.

Verbal Presentations

● This comprises words spoken out to pass across ideas

● It has things such as intonation, speech rate, and articulation
● They include such things as speeches, lectures, and giving oral
presentations.
● In many cases, the success of a verbal presentation depends on the
speakers’ success on making their story more interesting utilizing
metaphors and other forms of spoken drama and speech variety.

Non-Verbal Presentations

● Here the message is passed on in the absence of spoken words, and

instead, it is done using the body, actions or movements, body
posture, and even pictures.
● Body actions and expressions also accompany verbal communication,
and they may be supportive or contrary to the verbal content.
● These include visual projections like PowerPoint presentations,
diagrams, and pictures as well as general body language and eye
movement of the presenter.
● Some non-verbal communication is not in words, and this is effective
as measures of feelings and attitudes that may be observed.

In short, a verbal presentation means that a person uses spoken language

whereas in a non-verbal presentation a person spends his/her time using body
language paraphernalia or visual materials to pass information. Both are
required for complete communication and they can work together in some
cases.

3.2) !!ATTACHED TO THE DOCUMENT!!

QUESTION 4: BUSINESS PLAN

4.1)

. Executive Summary: This is the most concise part of the business plan
which identifies various components of the plan including the concept,
 .

objectives, and the target market opportunity. It must be eye catching

in such a way that it would motivate the reader to continue reading.

. Market Analysis: Market analysis is the process of investigating and

examining the industry, market environment, sub-sector potential,
target audience and competition. It is important in mapping out the
potential in the market and the possible markets.

. Marketing Strategy: This describes how the business will reach and
keep all its customers. Such as price, promotion, place, and sales
strategies.

. Financial Projections: This part consists of estimates for sales and

costs, and anticipated net profit for a specified time frame. Such
usually contains documents like income statements, statement of cash
flow, and the balance sheet to prove the possible return of investment.

4.2)

An executive summary is a brief section at the beginning of a business plan that

summarises the main points of the document.
These are four main points:

Overview:
It provides off ‘The business plan’ overview to the customers in order to elicit
the important concepts and the objectives in a simpler and interesting manner

Engagement:
This is to entice the relevant beneficiaries whether investors, or potential
business partners to the extent that they would like to look for the full plan.

Clarity:
It condenses excess details that relate to any text into simple and
straightforward information so as to reach those who do not have the time to
read a large volume of text.

Highlighting Value:
It highlights the competitive advantages of the business and explains why the
business is worth pursuing and why it is different from others.

In general, the executive summary is a way of representing the content and

future possibilities of a business in the most appropriate way.

4.3)
A few key points that highlight the importance of having a marketing plan for
any business:
Directs Decision Making:
A marketing strategy is the playbook for a firm and informs all decisions
surrounding marketing tactics, budgets and resource allocation.

Identifies Target Audience:

It defines the target market and demographic so that you can focus your
marketing efforts where they will be most effective, increasing engagement.

Marketing plan creates Objectives and Goals:

A good marketing plan makes clear objectives and quantifiable goals, which
can be followed for results.

Allows Competitive Advantage:

A marketing plan helps organisations by examining the competition and
industry trends in order to recognise ways where they should differentiate
themselves, gaining competitive advantage.

Assists with budget management:

Allows for more effective resource allocation, making sure that marketing
dollars are aligned to your strategic business plan.