Introduction To Business Management Assignment Memo
Introduction To Business Management Assignment Memo
ASSIGNMENT MEMO
INSTRUCTIONS:
Your assignment must have a cover page with your name, student number, course
name and lecturer name
Marks awarded will be indicated both as actual and percentage
The assignment must be the work of the student and not shared or completed by any
other student and must be typed.
Students will be penalised for plagiarising or simply copying passages from the study
notes or web sites, other texts and from another student’s assignment/project/rough
work, etc., without any referencing attached thereto.
Students may work together but must not submit similar or identical assignments. You
must be able to show that you worked independently.
Retain a copy of each assignment before submitting it, in case the original does not
reach the lecturer.
Students who are mailing their assignments must ensure that the assignment
reaches the lecturer before or on the due date.
Assignments may NOT be submitted via fax
Your assignment MUST have references (APA method) written in alphabetical order.
Use ARIAL -12 to type your work. Your work must be justified.
Consult the lecturer if you do not understand assignment questions by calling 061-
301032
1
An economic system is a means by which societies or governments organize and
distribute available resources in a country. Economic systems regulate factors of
production including capital, labour, physical resources, and entrepreneurs.
Mixed system
2
E.g. Namwater; Namwater and Central Hospitals
(1 mark for identifying, 3 marks for explanation and 1 mark for example)
3
Business environment is composed of macro, micro and market environments. Apply an
external force analysis to Lingua college using any 5 factors found in the macro
environment
[1 mark for identifying, 2 marks for explaining and 1 mark for example]
4
Identify and explain any four characteristics or traits that distinguish
entrepreneurs (20 marks)
Passion
Entrepreneurs are not in it for the money.
While that may be an added bonus, the true benefit is doing what they love.
Building a business takes a lot of time and effort.
It means putting in longer hours and doing extra work.
If you don’t love what you do, you're not going to want to do what it takes to
achieve success.
Steve Jobs, founder of Apple once Said, 'People with Passion can Change the
World’
E.g. Ms. Mettler of Lingua College; F. Indongo; S. Ndapuka etc
Motivation
Entrepreneurs are dedicated to their work.
They do not rely on a manager or colleague to push them towards their goals.
Their drive comes from within and allows them to motivate others in turn.
In his book, “Leaders Eat Last: Simon Sinek writes, “If your actions inspire
others to dream more, learn more, do more and become more, you are a
leader.”
Optimism
When you’re just starting out, it can seem like getting your business off the
ground will never happen.
But entrepreneurs don’t think like that.
They are optimistic about the future and are always looking ahead with rose
tinted spectacles.
Jonathan Swift wrote, “Vision is the art of seeing things that are invisible to
others.”
Creativity
Entrepreneurs don’t think the same way as everyone else does.
They see the world differently and think outside the box.
Businesses are built on big ideas, and those big ideas need to come from a place
of creativity, from a way of thinking that differs from everyone else’s thinking.
5
Maya Angelou once said, “You can’t use up creativity. The more you use it,
the more you have of it.”
Risk-Takers
Successful entrepreneurs understand that taking risks should not scare them.
It is necessary to achieve your goals.
Entrepreneurs don’t let uncertainty and potential failure stop them from doing
what needs to be done.
They look at problems as challenges and risks as opportunities that push them
forward
Tim Ferriss writes, “What we fear doing most is usually what we must do.”
End of assignment.