SECTION A [40 MARKS]

Read the scenario below and answer ALL the questions in this section.

Emily has just opened a new coffee shop in her neighbourhood. She has invested her savings into the business and is excited about the venture. Emily is the sole owner and operator of the coffee shop, and she is faced with various challenges and opportunities as she embarks on this entrepreneurial journey.

QUESTION 1 (20 Marks)

Based on the scenario of Emily, the new coffee shop owner, discuss the various objectives an entrepreneur might have when starting a business.

QUESTION 2 (20 Marks)

Based on the scenario of the new coffee shop owner, what FIVE (5) factors should Emily consider when evaluating the location of her coffee shop, and how can the right location impact her business's success? Provide specific examples to illustrate your points.

SECTION B [60 MARKS]

Answer ALL THREE (3) questions in this section.

QUESTION 3 (20 Marks)

In the world of business and innovation, two distinct paths beckon aspiring individuals: becoming an entrepreneur and embarking on the journey of building your own business, or choosing the intrapreneurial route within an established organisation. Assume you are more inclined to be an intrapreneur rather than an entrepreneur. Provide at least FIVE (5) reasons for your preference, and elaborate on each reason. Your explanations should draw from the key characteristics and challenges associated with each role.

QUESTION 4 (20 Marks)

Market segmentation is a crucial component of any marketing strategy, as it allows businesses to divide a heterogeneous market into smaller, more manageable segments. Discuss the FIVE (5) broad types of market segmentation strategies and explain how each type can be applied to identify and target potential customers effectively. Provide real-world examples to illustrate your points.

QUESTION 5 (20 Marks)

Small, Medium, and Micro Enterprises (SMMEs) play a pivotal role in the economic landscape of any country. Explain the role of SMMEs in the economy of a country and discuss the challenges they face.