QUESTION $2$

a$)$ Explain how entrepreneurship is defined in relation to the following terms:

QUESTION $3$

Environmental seamning is said to be an ongoing process. It should be undertaken by both start$-$up businesses as well as already established ones, There are various techniques useful in carrying out an effective environmental scan.

a$)$ State five $(5)$ advantages of carrying out an environmental scan.

$(5$ marks$)$

b$)$ List Porters five forces under the Porters Five Forces model when carrying out environmental scanning.

$(5$ marks$)$

c$)$ Explain what the acronym RPEST stand for citing relevant examples.

$(10$ marks$)$

political

Busines, Patical, economic, sociology

$[$TOTAL: $20$ Marks$]$

QUESTION $4$ fecunology

Before implementing any business fiela, it is always importint to conduct a thorough investigation into the environment in which one wants to operate.

Task

a$)$ Explain the meaning of SWOT and state what each of these letter's review.

$(10$ marks$)$

b$)$ Identify four $(4)$ key aspects of the micro screening table that can help you to assess the viability of your business idea.

$(4$ marks$)$

c$)$ If a business project requires un initinl investment of K$150000$ and is expected to generate net cash flows of $K39000$ annumilly, calculate the payback period,

$(6$ marks$)$

$[$TOTAL: $20$ Marks$]$

QUESTION $5$

Mulenga as an entrepreneur knows from his Entrepreneurship lessons that he should produce a business plan if he his to establish an enterprise.

a$)$ What is an "executive summary"?

$(2$ Marks$)$

b$)$ Discuss why the executive summary is often called the most important of a business plan.

$(5$ Marks$)$

c$)$ Explain three $(3)$ uses of a business plan in any enterprise.

$(6$ marks$)$

d$)$ Apart from an Executive Summary, state seven $(7)$ other components of a business plan.

$(7$ marks$)$