O Level Commerce Notes

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May 2019

Commerce: Advantages And Disadvantages Of Being An Entrepreneur

By |2019-05-16T06:20:48+02:00May 16th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Advantages And Disadvantages Of Being An Entrepreneur

  • We have looked at what an entrepreneur is here
  • Now we will look at the advantages and disadvantages of being an entrepreneur
  • Running your own business obviously has its own advantages

Advantages of being an entrepreneur

  • If you are an entrepreneur you become your own […]
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Commerce: The Business Environment: Introduction

By |2019-05-10T12:14:30+02:00May 10th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: The Business Environment

  • It is a common cause that businesses do not operate in a vacuum
  • There are a number of factors that affect the way a business operates
  • These factors can be external to the business i.e. outside the business itself
  • They can, however, be internal i.e. factors that are to […]
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Commerce: The External Business Environment

By |2019-05-10T11:56:07+02:00May 10th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: The External Business Environment

  • In addition to internal factors that affect the operations of a business
  • There are external factors which also exert their influence
  • These external factors together constitute the external business environment
  • The external environment is sometimes known as PESTEL
  • This stands for the various components that make up a […]
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Commerce: The Internal Business Environment

By |2019-05-10T11:54:32+02:00May 10th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: The Internal Business Environment

  • As already mentioned elsewhere businesses do not operate in a vacuum
  • The operations of a business are affected by factors internal and external to it
  • Here we will look at the internal business environment

The internal business environment

  • A business’s internal environment is made up of people known as […]
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Commerce: Benefits of Beneficiation And Value Addition

By |2019-05-10T09:04:21+02:00May 10th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Benefits of Beneficiation And Value Addition

  • The meaning and nature of beneficiation and value addition can be found here
  • Value addition refers to the enhancement of a product’s value usually through the manufacturing process
  • Beneficiation refers to value addition in the mining sector
  • There are benefits to carrying out beneficiation and […]
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Commerce: Beneficiation And Value Addition/ Added Value

By |2019-05-10T09:04:01+02:00May 10th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Beneficiation And Value Addition/ Added Value

  • One of the reasons why developing countries lag behind developed countries is due to the imbalance of trade
  • Developing countries export mainly raw unprocessed materials which have a low price per unit
  • On the other hand developed countries export back high value processed materials
  • This means […]
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Commerce: Management Functions: Leading/Commanding

By |2019-05-07T08:55:58+02:00May 7th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes:Management Functions: Leading/Commanding

  • As already said in the introduction to management
  • Management is defined in simple terms as the art of doing work through others
  • It involves five functions namely:
    • Planning
    • Organising
    • Leading/Commanding
    • Coordinating
    • Controlling
  • These are often called the five functions of management
  • In this section, we will talk about leading/commanding

    • […]

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Commerce: Management Functions: Controlling

By |2019-05-07T08:39:10+02:00May 7th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Management Functions: Controlling

  • In our introduction to management, we defined what management is
  • In simple terms, management is the art of doing work through others
  • However, management can also be defined in terms of its functions
  • These functions are the duties that a typical manager is expected to perform regardless of their […]
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Commerce: Management Functions: Coordinating

By |2019-05-07T08:18:05+02:00May 7th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Management Functions: Coordinating

  • In our introduction to management, we defined what management is
  • In general terms, management is the work of doing work through others
  • We also mentioned the fact that management can be defined in terms of its functions/duties that a manager is expected to carry out
  • In that regard […]
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Commerce: Management Functions: Organising

By |2019-05-07T08:01:37+02:00May 7th, 2019|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Management Functions: Organising

  • During the introduction, we examined what management is
  • We said management is the art of doing work through others
  • Also, it was mentioned that management can be defined in terms of its functions/duties that every manager is expected to perform
  • These functions include planning, organising, coordinating, leading and […]
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