BMNA020: Business Management Assignment 2

Decision-Making in the Entrepreneurial Process (Guidance for Diagram and Explanation

Suggested stages for your diagram (flow chart or cycle):

1. Opportunity Identification

2. Idea Evaluation and Feasibility Thinking

3. Resource Assessment

4. Start-up Decision and Implementation

5. Market Response and Feedback

6. Growth and Expansion Decisions

Application ideas for your explanation:

Stage: Opportunity Identification
. Anathi identifies a gap in the Southern African market: a lack of affordable eco-friendly African-style fashion.

Stage: Feasibility Thinking
. She considers whether her sewing skills, design ability and entrepreneurial drive can support a business.

Stage: Resource Assessment
. She evaluates available resources such as savings, family investment, a small factory and one seamstress.

Stage: Start-Up Decision
. She decides to begin operations and produces garments using basic equipment.

Stage: Market Feedback
. Customer demand increases and orders come from across Southern Africa.

Stage: Growth and Expansion
. She prepares a business plan, applies for a bank loan, purchases industrial sewing machines and hires additional staff.

Write short paragraphs explaining each stage and then show how it applies to her business.

Factors of Production Theory + Scenario Application

Use the four standard factors of production.

1. Land / Natural Resources
   Includes raw materials and physical inputs such as sustainable fabrics and textiles.
   Application example: She partners with suppliers who provide environmentally friendly fabrics.

2. Labour
   Includes human effort, skills and expertise.
   Application example: She employs seamstresses, a personal assistant and a bookkeeper.

3. Capital
   Includes machinery, equipment and financial resources.
   Application example: She obtains a bank loan, buys industrial sewing machines and operates from a factory.

4. Entrepreneurship
   Includes innovation, vision, risk-taking and leadership.
   Application example: She identifies a niche market and develops a sustainable fashion brand.

Most important factor recommendation: Entrepreneurship

You may justify it by explaining that:

• her vision and initiative allowed the business to exist

• she recognised the market gap

• she planned growth and expansion

• her leadership drives sustainability decisions

Explain this in your own wording.

Importance of a Business Plan Ranking Guide

Possible objectives to rank:

1. Securing finance and convincing investors or banks

2. Providing strategic direction for business growth

3. Planning resources, staffing and operations

4. Assessing risks and feasibility

5. Guiding marketing and target customer focus

You should:

• rank them from most important to least important

• justify each ranking based on Anathi’s situation

Example ideas you can expand:

Rank 1: Securing Finance
Her business plan helped the bank approve a loan for machinery and staff expansion.

Rank 2: Strategic Direction
The plan outlined zero-waste production, supplier partnerships and growth goals.

Rank 3: Resource Planning
It helped plan labour needs and production capacity.

Rank 4: Risk Assessment
The plan helped evaluate financial and expansion risks.

Rank 5: Marketing Focus
It supported a targeted marketing approach to eco-conscious consumers.

Write your own justification sentences in full.

Role of Top Management and Required Skills

Role of top management (theory concepts to discuss):

• setting strategic direction

• making long-term decisions

• allocating resources

• establishing business culture and structure

In this scenario, Anathi functions as top management.

Skills to discuss:

1. Conceptual Skills
   Ability to think strategically and understand the business as a whole.
   Application example: She develops a zero-waste production vision and sustainability strategy.

2. Human / Interpersonal Skills
   Ability to motivate, communicate and lead employees.
   Application example: She manages seamstresses and support staff.

3. Technical Skills
   Practical knowledge of the business operations or product.
   Application example: Her sewing and design skills influence product quality and production decisions.

Explain the theory first, then link each skill to the scenario.

Reflection on Sustainable Development

Suggested theory description:

Sustainable development refers to meeting present needs while protecting environmental, social and economic resources for future generations.

Application to the scenario may include:

• use of eco-friendly fabrics reduces environmental harm

• zero-waste production supports environmental responsibility

• job creation contributes to social development

• business growth supports economic sustainability

Reflect on how sustainability strengthens competitiveness and brand reputation.

Macro Environment Mind Map 

Choose any South African industry, for example:

• fashion and clothing

• retail

• tourism

• agriculture

• transport

• food industry

Select four macro environment components, such as:

• Political or Legal

• Economic

• Social or Cultural

• Technological

• Environmental

• Global

Create a mind map and include brief, industry-relevant examples under each branch.

Example (if you choose fashion industry):

Economic: consumer spending levels and production costs
Technological: online shopping and e-commerce platforms
Social: growing demand for ethical and sustainable clothing
Environmental: pressure to reduce textile waste

Summary of Assessment Requirements

The assessment required the student to analyse a business scenario involving Anathi’s sustainable fashion enterprise and apply Business Management 1A theory from the first three learning units. Students were expected to demonstrate understanding of:

• the entrepreneurial decision-making process through a diagram and scenario application

• the factors of production with examples from the case and justification of the most important factor

• the importance of a business plan, using a ranked table with justification

• the role and skills of top management, linked to the scenario

• the concept of sustainable development and its relevance to the business

In addition, students were required to create a mind map illustrating four components of the South African macro environment applied to an industry of their choice.

The assessment emphasised:

• integration of theory and application

• paraphrasing and use of the student’s own voice

• referencing the prescribed textbook as the primary source

• alignment with the IIE referencing rubric

The work was expected to balance conceptual understanding with contextual analysis of the scenario.

How the Academic Mentor Guided the Student

The academic mentor supported the student using a structured, scaffolded approach focused on understanding, not answer-generation.

Step 1: Interpreting the Scenario and Identifying Key Concepts

The mentor first discussed the scenario with the student to ensure comprehension of:

• the business context

• entrepreneurial activities undertaken by Anathi

• operational and growth decisions

The mentor encouraged the student to link elements of the case to relevant theory, rather than copying definitions.

Step 2: Breaking Down Each Question Requirement

For each question, the mentor clarified:

• what the question was asking

• which theory from the textbook applied

• where application to the scenario was required

For example:

• For Q1.1, the mentor helped the student outline the stages of the entrepreneurial process before mapping them to the scenario.

• For Q1.2, the mentor guided the student in identifying the four factors of production and locating appropriate case-based examples.

• For Q1.3, the mentor showed how to justify ranking decisions rather than listing purposes of a business plan.

This process helped the student understand the analytical expectations of each section.

Step 3: Encouraging Structured, Own-Voice Explanations

The mentor guided the student to:

• paraphrase theory in simple academic language

• avoid copying or AI-generated wording

• explain concepts before applying them

Where necessary, prompting questions were used such as:

• “How does this apply to Anathi’s decision?”

• “Why do you think this factor was most important?”

This reinforced critical thinking and conceptual interpretation.

Step 4: Assisting with Visual Representations

The mentor explained how to:

• structure the entrepreneurial process diagram logically

• organise the macro environment mind map into clear branches

The focus was on clarity, relevance and conceptual accuracy.

Step 5: Reviewing Alignment with Rubrics and Referencing

Finally, the mentor helped the student:

• ensure balance between theory and application

• check referencing consistency

• maintain academic integrity and originality

This ensured the final work met both content and presentation expectations.

Outcome and Learning Objectives Achieved

Through the guided process, the student:

• demonstrated understanding of entrepreneurial decision-making

• applied the four factors of production to a real-world scenario

• evaluated the role and significance of business planning

• analysed top management roles and skill requirements

• reflected on sustainable development within a business context

• applied macro-environmental concepts using a structured mind map

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