Grade 7 EMS Test 3: Businesses And Budgets

Netsport

Description

A test that assesses learners' knowledge of businesses and budgets and includes: types of ownerships, regulations, budgets, formal and informal businesses, wholesalers, consumers and application of knowledge.

Sujets

• Littérature Sud-Africaine
• Littérature sud-africaine
• Collège
• Secondary education in France
• collège
• Collège
• Collège
• Post-primaire

Informations

• Publié par: Netsport
• Date de parution: 01 janvier 2022
• Nombre de lectures: 0
• Langue: English

Extrait

Economic Management Sciences

Question 1:

Businesses & Budgets

Read the following extracts, then answer the questions which follow.

Haircare a multi-billion dollar industry in Africa

Grade 7

With all the skill of a master weaver at a loom, Esther Ogble stands under a parasol in the sprawling Wuse market in Nigeria's capital and spins synthetic fiber into women's hair. Nearby, three customers — one in a hijab — wait for a turn to spend several hours and $40 to have their hair done, a hefty sum in a country where many live on less than $2 a day. While still largely based in the informal economy, the African haircare business has become a multi-billion dollar industry that stretches to China and India and has drawn global giants such as L'Oreal and Unilever. Hairdressers such as Ogble are a fixture of markets and taxi ranks across Africa, reflecting both the continent's rising incomes and demand from hair-conscious women. "I need to braid my hair so that I will look beautiful," said 25-year-old Blessing James, wincing as Ogble combed and tugged at the back of her head before weaving in a plait that fell well past the shoulder. http://www.nydailynews.com/life-style/haircare-multi-billion-dollar-industry-africa-article-1.1894350

Highlighting lessons form the Hair Salon Samantha Kalisa I guessed that the lady standing in the coffee shop doorway was Mankwane Chakela. There was something about the way she drew attention with her presence without speaking a word. Sleek, well groomed ... everything about her said she knew something about beauty that you needed to know. "I have always loved the beauty industry, but dabbled in many kinds of business before deciding to go with what I had a passion for," she said. I was a little intimidated. Especially when she told me that she had just celebrated her 53rd birthday. "I was a school teacher for 17 years. In 2003, I bought an existing hair salon in Sandton. I just took a chance and learnt some hard lessons along the way. One of the first was the importance of location," she said. The first Le Looks beauty and hair was situated in Nelson Mandela Square in Sandton City. "I thought: It is Sandton, right? Situated near banks in a shopping complex, perfect location, right? Wrong. I quickly found out that when people came to the bank, banking was all they had in mind. We needed to be where there was more leisurely foot traffic - where impulse shoppers dropped in. It took me 18 months to break even." She was able to stay afloat due to an excellent relationship with her bank manager and with some financial assistance from her husband. Once she discovered that the location was the problem, she lobbied Sandton City's management until it moved her to a more favourable spot in a busy part of the mall, in 2005. What the salon once made in a month, it now turned over in a week. http://www.timeslive.co.za/business/itsmybusiness/2010/07/04/highlighting-lessons-from-the-hair-salon

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