QUESTION 1 Read the following case study and answer the questions that follow

Former high school teacher becomes a real estate mogul. From high school teaching to starting her own real estate agency, Matseleng Mogodi has always thrived on challenges. Its been 22 years since Mogodi exchanged her classroom for a real estate office. After five years of teaching science and maths to high school pupils, and acquiring two teaching degrees, she decided she could do more with her life and decided to enter the business world. I loved teaching but needed something that would challenge me. At that time, my father was in construction and I used to help him with clients. I learnt a lot from him and thats what inspired me to go into real estate. In helping my father, I also built up my own clientele base, so I was confident about formalising my own business, she explains. In 1997, with only her teachers salary as funding, Mogodi approached family members to assist with more capital for the business. I rented an office in a little mall in Protea North, Soweto. I bought computers, hired a receptionist and two agents, and we started working. I also registered at Wits Business School and did a post-graduate degree in business administration. I learnt a lot about growing the business and handling challenges caused by the state of the countrys economy. Thats why, when the property market crashed in 2007 and many companies closed down, we managed to hold on, she says. Weve encountered other difficulties too but managed to overcome them. The biggest one was growth. At one point, I had five offices in Soweto and the southern suburbs, which impacted on our finances because when you have offices in malls, the expenses are huge. We had to close some and focus on the township office, where most of our business comes from. Another challenge was that Id been mothering my agents and they became dependent on me. Ive had to learn the hard way to delegate effectively and let go of people who dont perform, says Mogodi. This year, Snooks Estates is celebrating 22 years of existence, with 42 employees, four big offices and four satellite ones. However, Mogodi says the number of years in business means nothing if you havent done anything to uplift others as well. For that reason, over the years, shes become the co-founder of the Black Estate Agents Forum SA. We help black estate agents in the township to learn more about running a business and formalising it, like our white counterparts. Weve made an impact on the industrys regulatory body, the Estate Agents Affairs Board, and weve registered with it, she says. As for the future, Mogodi has a lot planned. She is currently expanding the business by recruiting smaller estate agencies to join and work under the Snooks brand. Its like franchising, but I dont want to call it that, because this is going to be mutually beneficial. We get a lot of business because of our name, as Snooks is a trusted brand. Using our name and getting training from us will help grow these agencies. They get to own a Snooks branch, but without paying any franchise fees. My vision has always been to establish our brand all over the Gauteng region and then nationally.

1.1. Discuss one (1) social factor that contributed in moulding Matseleng to become an entrepreneur. (3)

1.2 Explain the two (2) entrepreneurial risks that Matseleng faced in starting her business. (4)

1.3 Discuss the concept of expertise and identify how Matseleng obtained and made use of her expertise in her business. (5)

1.4 Describe one (1) basic management skill that Matseleng displays. Use examples from The case study to support your answer. (2)

1.5 Explain business premises as part of operations management in a business and highlight the challenges faced by Matseleng in terms of facilities. (7)

1.6 Using evidence from the case study, discuss the type of finance Matseleng used to start her business. (4)

1.7 Define a vision and identify Matselengs vision. Using evidence from the case study, explain how she plans on fulfilling the vision of the business. (6)

1.8 Discuss any four (4) ways in which an entrepreneur can develop an effective buisness network and identify the business networks that Matseleng has developed. (7)

1.9 Discuss the type of entrepreneur that Matseleng is after 22 years in operation. (2)