make it comprehensive

QUESTION 1 (30) Consider the following extract from an opinion piece from fin24 and answer the question that follow: OPINION: Open for business? How SMMEs in South Africa can thrive Small, medium, and micro enterprises (SMMEs) have the potential to drive economic growth and employment in South Africa. However, this potential is not being realised. The Small Business Institute estimates that approximately 98% of all registered businesses in the country are SMMEs. However, SMMEs consistently contribute less than 28% of jobs, which is a far cry from the government's ambitions of 90% contribution to job creation by small businesses by 2030. In fact, large firms with over 250 employees remain the lynchpin of job creation and account for just under 70% of firms that employ 10 or more people (according to the OFCD). Although sources differ on how SMMEs are classified, data provided by the Small Enterprise Development Agency [SEDA) suggests that there are roughly 2.55 million 'SMME owners' (a proxy measure for the number of formal and informal SMMEs) in South Africa. In our recent report on the SMME landscape in SA, we highlight the sustainability of SMMEs as a concern. SEDA data reveals that 107 377 new 5MMEs entered the market in Q1 2019. However, fewer and fewer firms survive each year, and many of those that do survive are unable to grow revenues or employment, According to the Enterprise Observatory of South Africa an average of 31 companies with taxable income of less than R10 million close down each week, and the number of employees hardly increases as SMMEs grow older. The reasons for these high failure rates are many and complex. Our report outlines our view and experience: SMMEs are caught in a cycle of limited bargaining power, cash flow constraints, significant skills gaps and having to operate in a taxing regulatory environment. Each of the aforementioned challenges exacerbates the next: Tight margins (these vary by industry conditions) and poor terms of trade as a result of weak bargaining power constrain cash flows; Poor cash availability exacerbates challenges in sourcing adequate human and other skills requisite for growth; A lack of sufficient resources and capabilities as well as inadequate systems and processes to support growth means that existing, scarce resources are deployed to address not only business operations, but also significant regulatory compliance; This in turn further hampers companies' ability to grow and create jobs. This ultimately limits economies of scale, which in turn further reduces the ability to improve margins, setting off the cycle once more. While these factors are not unique to South African 5MMEs, their magnitude certainly is. For instance, whilst over 54% of SMME owners have not completed secondary schooling in South Africa, only 5% of entrepreneurs in the United States have not completed high school. Adopted from: http://www.fin24.com/Opinion/opinion -how immes-in south-africa-can thrive 20191118 Date Accessed: 16/12/2019 Use real life examples of failed start-ups to discuss the TEN (10) common mi made by small businesses which ultimately contribute to their failure.QUESTION 2 (30) Drawing from real life examples, discuss SIX (6) personal characteristics of successful entrepreneurs by showing how their experiences demonstrates that they have these characteristics and they have ultimately led to their SUCCESS Project Guidelines Your assignment should include a Table of Contents page. Text: Font: Arial or Times New Roman (12), Spacing: 1.5 lines All text must be justified at each margin. The length of your answers to each question should be in line with the mark allocation. Your answers must include any theories, charts, tables or exhibits necessary to support your analysis and recommendations. Ensure that the readings are not merely reproduced in the assignment without original critical comments and views. References . At least & academic sources of reference must be used. (These include textbooks, journal articles and internet sources that are relevant to your field of study. Academic sources do not include Wikipedia and blogs). The MANCOSA study guide must not be used as a source of reference. You must include Reference list at the end of your assignment. Information quoted/paraphrased from sources listed in your Reference list must be referenced in-text. The Harvard system of referencing must be used. It is imperative that students proof read and edit their assignments prior to submitting them. Assignments must be free from errors and of a professional standardOn any journey, you have times of joy and more than a few setbacks. During the times of joy, you feel like you can accomplish anything. It gives you the strength and motivation to continue to put in the work that helps your business. During the hard times, negative feelings and emotions can easily take over. Before you know it, you are feeling sorry for yourself and you tum to your familiar coping mechanism. That coping mechanism could be food, alcohol, binge- watching TV or any other thing that takes your focus away from what you want to accomplish in your business. Since you don't have a boss or company dictating your day and what you accomplish, that time "coping" could turn into weeks of your doing no work at al. Becoming a successful entrepreneur means understanding hard times are when you need to push. When there are obstacles, here's what you need to do. Acknowledge, then process your thoughts. The only way to get through obstacles is to start with acknowledging that they're there. Don't try to suppress those thoughts - let them out. When you try to suppress them, they grow stronger and threaten to get control. Once you have given yourself two minutes, take control of your thoughts. Focus on what brings you joy and what you're grateful for in your life. Focus on what you can control. Life is messy. Change is hard. Growing a business is not easy and it feels like everything can go wrong at once. There are always going to be things you can't and shouldn't try to control. There are, however, things you can do something about. If your marketing plan is ofl, you can readjust. If your sales are lacking, you can go back what you know works. If a team member is causing more trouble than is worth helping them, you can let them go. Ask for help, then take action. Some obstacles feel like more than you can handle. Seeking counsel and support can be the difference between you getting through it or failing. Don't try to be Wonder Woman or Superman. Seek help. Talking and planning with someone who understands and is trained in dealing with a crisis is valuable. Then, make decisions that are action-based. If a decision pushes you toward the action that helps your business, make it. One of the best ways to recover from difficult situations is to take massive action. Taking action on the things you can control will give you progress. As you consistently take action, you'll be closer to your goal before you even realize. Obstacles don't have to be business breakers in your life. You can learn from them and use them to make you a stronger and wiser entrepreneur. The most successful entrepreneurs understand that it's not the crisis - it's your response that determines how successful you'll be. (Adapted from: https://www.entrepreneur.com/article/312223) QUESTION 1 (20 Marks) It is implied in the extract that to enhance chances of success in business, entrepreneurs should have certain attitudes and characteristics. With reference to the case study, critically discuss SEVEN (7) personal characteristics that an entrepreneur should have QUESTION 2 (20 Marks) The objectives of an entrepreneur vary depending on the entrepreneur and his her circumstances.SECTION B [60 MARKS] Answer ANY THREE (3) questions in this section. QUESTION 3 (20 Marks) The market or task environment refers to the environment that Immediately surrounds the organisation. Elaborate on FIVE (5) elements of the mariont environment. QUESTION 4 (20 Marks) You are the marketing manager of a private higher education institution and some employees in your department have being given the task to organise a career day for schools in the community. Using suitable examples, explain FOUR (4) steps of the control process that you will undertake to monitor their activities and take corrective action, where necessary. QUESTION 5 (20 Marks) Once established, banks become a regular source of financing. Explain live criteria that lenders and investors use when evaluating the creditworthiness of entrepreneurs seeking financing. QUESTION 6 (20 Marks) Logistics management is part of all the levels of planning and execution in an organisation, including strategic operational and tactical Explain the following aspects of logistic management 6.1 Importance of logistic management (5 marks) 6.2 Logistics management process (5 marks) 6.3 Types of Logistics (5 marks) 64 Objectives and activities of logistics management