rT 6 1st cove 02160020] FORM TP 2022233 MAYAUNE CARIBBEAN EXAMINA 2022 ONS COUNCIL CARIBBEAN ADVANC ICY EXAMINATION* EURSHIP ENTRE RENEU IAL THEORY UNIT 1 Paper 02 2 hours and 48 minutes | READ THE FOLLOWING INSTRUCTIONS CAREFULLY. | ' Riis paner consists of SEX mini-case scenarios and questions, TWO from EACH | | module | 2 Answer ALL questions. | 3 Write your ansisers in the spaces provided in this booklet 4. Do NOT write in the margins. | 5. you need to rewrite any answer and there is not enough space to do so on the | criginal page, you must use the extta lined page(s) provided at the beck of tine | booklet. Remember to draw a line through your original answer | & Ityou use the extra page(s) you MUST write the question numbe clearly in | the box provided at the top of the extra page(s) and, where relevant, include | the question par the answer. DO NOT TURN 1 TO vO So. Caribbean Examinations Couneil Al rights reserved. Lctcooaommcare 2022 MAIR NNNRHNNN _| Copyrir a oT INSTRUCTION: Read EACH m ni case and answer the questions that follow, MODULE 1: ENTREPRENEURIAL MINDSET Case 1: Women in Busi Wanda and her tt started her business bee younger pe tea appressed with I ess owners, ‘They consider themselves entrepr nployed. She has expertise in intor ne solutions. Wank level of creativity and inne, family business, She plans to keep her business sin that she is able to Keep the business cunning. 3 W on technology. ident. Her fri other hand, Jackie inherited the Hike Jackie, has an st in culture, She is aware th urship. Wanda recognizes that Islam hans the dei restrictions relating fo meats, Wanda is aware of other differences and the eprenenrship develop ons have an impact nd that there are dietary iuht about how those cultural at in the predominantly Christian societies of the nents Would allect Caribbea Low Define the term ‘entrepreneur. “72 marks] . (i) State TWO drivers of entreprer start her business, the ease, that led Wanda to 12 marks} 02160020/M/CAPE GOON TOTHE NEXT PAGE a L ge DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS ARE ¢ DO NOT WRITE IN THIS AREA“ a ‘ntioned ws the case (OE 20 Gace woe mms yan ee g) Row /z| (§ E —— = 12 mart 5 § 6) ete the te sal busines s g = g i marke 2 S | 5 $ (02160020/MJ/CAPE 2022 GOON TO THE NEXT PAGE L MEINEM _| ee7 “] w) 4G) Describe how ONE of Islam's dietary restrictions, mentioned in the case, could: impact entrepreneurship development ” 13 marks} Gd Discuss how restrictions on Muslin: women could impact entrepreneurship development 14 marks Total 15 marks GO ON TO THE NEXT PAGE 02160020/M1/CAPE: 2022 L VES EN _| Da Nor WRITE IN THIS ARF Pa NOT WRITE IN THIC ARFA pd NOT MDITE IN THIS ARES7. 7 ue the Wave of 8 ff dettassnccutty yon to ent sed fa le al ne i five years ag, Henve, { J psteonal wealth and tsetse ef sais nore joe ana isan £ vhetpinee. He atts his sees tthe tt th ess pla manayed tna ES antisontcettctncts monte toh esac wa uanrean Th mae i = sevens anid prvses vs tenacity, He fs cote that tater his yatoney te tee eae 8 Sine bovine he fa inition potsan alm vison = Jou cedhts his employ ves for play ny. Shniicant ale in he success hs sine they once kbewy s te improve the epetations the busiess aint hee aleast ol Market ehanves su they ean ee elle = otis to auldress those market changes. John's einplaycea work ttclese has le ensure tne oueeeee ot s the business. John shows ratte to his cispayees hy rewsauing intwovative ile: and ssee no pot thove hove ica have failed, He always sctoees eniployees lene wih then oad personal responsibility, Sone ideas tail ar reasons sich ne poe huanan reseuirees planning, lee brisiness plans andl financial exe ae 2%) G__State TWO characteristics oFan entrepreneur mentioned inthe ease g = z = i comers = 2 mars = i i $ Gi) Outline ONE characteristic of an entreprencur that is NO E mentioned in the = 2 [2 marks} _ = 3 S | | : GOON TO THE NEXT PA 02160020/MN/CAPE: 2022 | MULL RH _|or | 4 (1) Distingwich between ‘entrepren ship and Sntraprencurship’, 14 marks} (0) axplain te centtey ONE factor, NOE mentioned in the cave, contributes to success in neurship, 13 marks} Gi) Some entreprenew the factors, mer ideas fail because of cert cil inthe cave, Conte lead to ws, Discuss how ONE of sure in entrepreneurship, fa marks ‘Total 18 marks GO ON 10 THE NEXT PAGE, 02160020/MCAPE 2022 L HEREIN ANE |* 7 MODULE 2: THE ENTREPIOENEDIUAL PHOCESS, se 3: Vanployce to Bu Owner nal and Pat Grant had settled nicely to Du St Vincent Since both counties belong main indetnitely in Donn nica afer fleeing, Frans the erapting the OCS Feonenie Unnien, # work oF establish a business, ness ofleringe house Cleat veleaner ah wiv Haak yea tithe Hhey fel at beni in Deninics nnd Tandscapiiy services. Vika wars a eviously worked at an all-inclusive fiauy resent in Mt Vincent th pundskeeper, They pooled the Hs trend, Sue. Howes. edd how else they Could raise thy re both unemployed and ineligible for a hy ENPEELIVE Skills 10 6 unding and gen Hea to reich they deeided 19 open a dual bu At to housekeeper oor Paul's au at 9 savin snd the Hinds they had horwed they still did not tiie enezh sin additional funine necro te open He Business, He Hoan, They were amass Fur ate appertinity te ome. They ancently needed te tind additional Sines soli HsINESs. They woned uve they Wer se their fe much needed survival He Some New ideas fora profit ble © G@) Mdentity TWO i ermal sources of fin “12 martes} Gi) State TWO external sources of required renowsses that f Vat Cnait coule consider in order to get the additonal funion they rey GOON FOS NEXT PA 02160020/Ms/CAPE 2022 vate-10- 7] wy G) Define the term idea’, f2 markal Det the term ‘opportunity’ 12 market GO ON 10 THE NEXT PAGE Oa _I 02160020/MJ/CAPE 2022 Lr c 7 ww ventory analysis’ te their Gi) Discuss how a fren Wed for idea yeners [4 marks} 15 marks GO ON TO THE (02160020/MJ/CAPE: 2022 L LAO EE cal EXT PAGEr 2 7 Mary Hotas opted te take the generous severance packige altered by Ih She love Case de bite from One ter Nin comp sl caning for people and animals and took immaculate care of he eet oy ng wall toute fleas Lor sta alter 21 years of service. possessions, Hence, she had. A day cate for toddlers, a ear care centre, a cy from bs mackae. For three views with parents of toddlers, elderly sation ud Heshed out comprehensive The seniors’ day care would otter daily brain and, ix-edgee learning development nils included information about the req me her own business. pet vate conte and a day cate tor elderly eitizens months, she ante wh research on the infermet, conducted ii persons and adults with cllerly parents, With all ot this details Lor a semis’ day et innut a toddlers! day ete, Helawenys, he teddlers’ day activitios in motion, speceh, reading annisie and art, Other di Fesomrces and the activities involved i implementing and na boa exercise aging: those two types of ventures, 4 & o oss concept’ {2 marks} Gi) Identity the TWO business concepts mentioned in the case. 12 marks} GOON 02160020/MH/CAPE 2022 L NeT 213+ | ay (i) State TWO activi ies involved in implementing a venture. “2 marksl Gi) Outline ONE activity involved in managing a venture. 12 marks} GO ON TO THE NEXT PAGE i (02160020/MJ/CAPE 2022 L LIEN AE |rT - Be 5 (w) () Explain what shaving the right human resources! means fora business Gi) Discuss the ortance of financing as a required resource for a business, Fott 18 marks GO ON TO-THE NEXT PAGL (02160020/MJ/CAPE 2022 L IEE EN ETA |DO NOTE RIN IN THIS AREA DO NOT WRITE MODULE 3: © 'Y AND INNOVATION Case 8: Creative Market Having worked in the corporate world in Gu yana for aifilling, He looked at the marketing landscape marketing: hence the decision to start musical inten ne years, Maxwell Gordon wanted so nd thought that he could offer more s company. Dynamic Marketing. He loved nts and wanted to make Caribbean music Hinge more nique and creative wie. played multiple Hoyelish speakers. accessible Vollowing a business trip to Attia and some pi iv ket research, he was excited te fea the music of French-speaking West Africans was similar to that of the Caribbe: hat an, Since the cell-phone #8 widely used in West Africa, he wanted to merge the marketing of Caribhean music, distribution of cast elective music and convenient payment into one app. Armed with his © xperience from the corperate world. he knew he had the leadership skills and the team to make his company a formidable force in thie competitive market. Gordon had no doubt that his young team of millenniats whe pres and pushed creativity to the limit, would give him a competitive edi eal fresh lens whet Je app and social nedtia (a) List FOUR principles of ereativity available to Gordon's tenn ry WO reasons why creative marketing is crucial to the 14 marke GO ON TO-THE NEX F PAGE, (02160020/MJ/CAPE 2022 L im N I EEE |T “6 5 (©) Gi) Explain the concept ‘position innovation’, [3 marke) Gi) Discuss how ‘paradigny innovation’ is relevant fo the new company the 4 P's of innovat GO ON TO THE NEXT PAG 02160020/MI/CAPE 2022, L yer gee as |[ ue 7 Co-founder and director of Hest Fit Wellness, Mike Miller, health and wellness industry thiouih a number of viet Case: Waite 1g Best Fitts Nie! fo cane out an Wicetotace aterinys, Mike has a teany of professionals, alsout the industry eONSUTLANE te A colleague fom Tri However ufand fobaye, who are knowtedpeable because the industy is still new to ther he 6 considering hiring a We Ils stategy concerning. innovation in the industry. He knews that his stuantegy Will be a critical fincton business, Mike 1s fearlul that his innovative nthe Success at h Mt cause distuptive changes in the ® G)Detine the t [2 marks] Gi) Outline the importance of innovation 12 marks} GO ON 1O-THE NEXT PAGE 02160020/MJ/CAPE 2022 L mary _|r a 7 (by Outline TWO micro factors that Mike could use to nurture innoy ation at Rest Bit Wellness a markst GO ON TO THE NEXT PAGE 2160020/MNCAPE 2022 (02160020/M, UNE AT LN | ore