SECTION B: CONTEXTUAL QUESTIONS This section consists of…
SECTION B: CONTEXTUAL QUESTIONS This section consists of THREE questions, only answer TWO questions. Number your questions correctly. Make use of bullet points where necessary. QUESTION 2: BUSINESS VENTURES 2.1 Read the case study and answer the question that follow. NEWBEE STUDIOS (NS) NS specialises in the development of new TV shows, for various TV channels. Chloe, the production manager, offers rewards to motivate employees who set and meet their targets. Garth, the marketing manager, uses charm to influence this team to work hard. 2.1.1 Identify the leadership style used by Chloe and Garth. Motivate your answer by QUOTING from the case study. (2×2)(4) 2.1.2 Describe the negative impact of Garth ’s leadership style, as identified in QUESTION 2.1.1 on businesses. (2X2)(4) 2.2 Read the extract and answer the questions that follow. “…agreement whereby the insurer undertakes to indemnify the insured in the event of a specified loss in exchange for a premium…” 2.2.1 Provide an explanation for the following insurance terms: 2.2.1.1 Insurer 2.2.1.2 Indemnify 2.2.1.3 Average clause (3X2)(6) 2.3 Differentiate between insurance and assurance. Make use of the table below when answering this question. Insurance Assurance (2X2)(4) 2.4 Outline THREE functions of the institution that trades with the shares of public companies. (3X2)(6) 2.5 Discuss TWO types of compulsory insurance. (2X3)(6) 2.6 Read the extract and answer the questions that follow. Thembeka bought a flat for R500 000. She knows the importance of insurance and insured the flat for R400 000. A heater caught fire and caused damage to the amount of R40 000. 2.6.1 Calculate the amount that she would get back from the Insurer for the damage caused by the fire. (4×1)(4) 2.6.2 Elaborate on the importance of insurance for individuals and businesses. (3×2)(6) TOTAL FOR QUESTION 2 OR