PROTECTION FACTOR DESCRIPTION EXAMPLE
NATURAL RESOURCES Everything that is provided by nature, Water, Crude oil
Usually a scarce and limited.
CAPITAL initial monetary investment a business loans taken by individuals
business requires on start up with the intent to start a business
LABOUR people who have the necessary
skills, capabilities and knowledge to Technicians, Engineers
provide a service or transform
raw materials into finished goods
ENTREPRENEURSHIP Is a process which combines capital, Michael Dell- ceo/founder of Dell
labour, natural resources and links computers
them to the risks associated with the
...view middle of the document...
• Interpersonal skills - the ability to communicate ,understand and motivate individuals or
• Conceptual skills - The managers ability to see and understand the business as a whole
allowing them to think strategically.
• Diagnostic skills - enables a manager to visualize the most appropriate response to a
situation. It is the study of symptoms to detect a problem.
• Communication skills – the ability to convey/receive ideas and information effectively.
• Decision making - The ability to recognise and identify problems and opportunities
to formulate alternate courses of action, choose the best one ,
implement it to solve problems and capitalise on opportunities.
• Time management - the ability to prioritize work. To work and delegate responsibility
efficiently and effectively.
- Time management is the most important skill to possess in relation to deadlines
4.1 Gross profit = sales (total units sold x price per unit) – cost of sales
500 000 x R12.50 =R6250000
6250000 – 750 000 (cost of sales) =R 5500000 (gross profit)
4.2 Total operating expense
Marketing expense 260 000 – 00
Salaries +840 000 – 00
Depreciation (50%) 800 000 – 00= +400 000 – 00
Total operating expense 1500000-00
4.3 Gross profit 5500000