US66249 - NVC - Mod1:Identify and Create a New Venture (N4, C26, M1)

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US 114596 Research The Viability Of New Venture Ideas / Opportunities

Module 01: Identify & Create A New Venture 7 Lessons

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1.1 Identify and assess own business ideas/opportunities for a new venture.

1.2 Analyse the viability of a selected idea/opportunity against specific screening variables.

1.3 Research the potential of a particular idea/opportunity as a new venture.

1.4 Analyse a range of risks associated with a new venture.

1.5 Evaluate new venture ideas/opportunities based on research findings.

1.6 Methods of collecting primary data

1.7 Assess the business’ strengths and weaknesses

US 114600 Apply innovative thinking to the development of a small business

Module 02 Develop specific techniques for releasing creativity in developing ideas/opportunities. 3 Lessons

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1.1 The concept and application of creativity is demonstrated through business related activities.

1.2 Determine the role of innovation in the development and growth of a new venture.

1.3. Apply principles and practices of innovation to the development and growth of a new venture.

US 263356 Demonstrate an understanding of the function of the market mechanisms in a new venture

Module 03 Explain the free market system in terms of perfect and imperfect competitive markets. 14 Lessons

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1.1 An explanation is given of the characteristics of different economic systems.

1.2 An explanation is given of the characteristics of different economic systems.

1.3 Competition is illustrated by the listing varying prices of the same product/service.

1.4 Reasons for imperfect competitiveness are described with examples thereof

1.5 The advantages and disadvantages of competition are explained with examples for the consumer and business.

2.1 Analyse the interaction of demand and supply in price determination.

1.2 An explanation is given of the relationship between the variables of demand and supply curves.

1.4. An example: Supply and demand in a 6 person economy (or new venture)

1.5. The relationship between demand, supply and price is discussed with reference to own products or service.

1.6. Analyse the factors that influence economic activity.

1.7. An explanation is given for the role of foreign currency and exchange rates in the general economy.

1.8. Fixed Rates – South Africa’s exchange system

1.9. An explanation is given of the role of the interest/BA rate, Gross Domestic Product and Balance of Payments in the operations of the new venture.

1.10. Describe the development and significance of markets.

US 9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems

Module 04 8 Lessons

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1.1 Critique and use techniques for collecting, organising and representing data.

1.2 Data is gathered using methods appropriate to the data type and purpose for gathering the data.

1.3. Question wording and types

1.4. Calculations and the use of statistics are correct.

1.5. Graphical representations and numerical summaries are consistent with the data, are clear and appropriate to the situation and target audience.

1.6. Resolutions for the situation or issue are supported by the data and are validated in terms of the context.

1.7. Use theoretical and experimental probability to develop models.

1.8 Critically interrogate and use probability and statistical models.

US 7468 Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues

Use mathematics to plan and control financial instruments. 9 Lessons

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1.1 Use mathematics to plan and control financial instruments.

1.2 Calculations are carried out using computational tools efficiently and correctly and solutions obtained are verified in terms of the context.

1.3. Use simple and compound interest to make sense of and define a variety of situations.

1.4. The differences between simple and compound interest are described in terms of their common applications and effects.

1.5. Simple Interest

1.6 Compound Interest

1.7. Computational tools are used efficiently and correctly and solutions obtained are verified in terms of the context or problem.

1.8. Reasonable methods are described for the control of costs and optimisation of profits in relation to given data.

1.9 Use mathematics to debate aspects of the national and global economy.

US66249 – NVC – Mod1:Identify and Create a New Venture (N4, C26, M1)

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