All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: |
Describe and discuss basic issues relating to the nature of business, the stakeholders in a business and business profitability |
SAQA US ID | UNIT STANDARD TITLE | |||
13176 | Describe and discuss basic issues relating to the nature of business, the stakeholders in a business and business profitability | |||
ORIGINATOR | ||||
SGB Manufacturing and Assembly Processes | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | ||||
- | ||||
FIELD | SUBFIELD | |||
Field 06 - Manufacturing, Engineering and Technology | Manufacturing and Assembly | |||
ABET BAND | UNIT STANDARD TYPE | PRE-2009 NQF LEVEL | NQF LEVEL | CREDITS |
Undefined | Regular | Level 1 | NQF Level 01 | 3 |
REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
Passed the End Date - Status was "Reregistered" |
2018-07-01 | 2023-06-30 | SAQA 06120/18 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2024-06-30 | 2027-06-30 |
In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This unit standard does not replace any other unit standard and is not replaced by any other unit standard. |
PURPOSE OF THE UNIT STANDARD |
The skills, values and knowledge reflected in this unit standard are required by people in the field of manufacturing, engineering and technology.
The learning outcomes in this unit standard contribute to the exit level outcomes which provide access to workplace based learning programmes for occupationally focused qualifications in this field, and provide qualifying learners with access to a range of further learning at NQF level 2. Qualifying learners can explain why businesses exist, the roles played by shareholders, banks, suppliers and customers, the factors affecting profitability and the legitimate application of profits. |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
This unit standard has been designed as a basic introduction to the skills, values and knowledge it embodies, and does not assume any prior learning or experience of the nature of a business in the manufacturing, assembly or engineering field, nor an understanding of the factors affecting profitability.
The credits allocated to this unit standard assume that a learner is already competent in communication and numeracy at ABET Level 3. |
UNIT STANDARD RANGE |
The scope and level of this unit standard is determined by the ranges as indicated under the specific outcomes. |
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Describe the reasons for starting or running a business. |
OUTCOME RANGE |
Businesses exist to meet the needs of the stakeholders: shareholders to make a profit, employees to make a living, customers needs for goods or services. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 2 |
Explain the role assets play in carrying out business. |
OUTCOME RANGE |
Assets: limited to the physical assets of the business. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 3 |
List the sources of money required to establish and run the business. |
OUTCOME RANGE |
Sources include shareholder`s (owner`s) capital, loans (from banks and other institutions) and cash generated from the business. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 4 |
List the areas of expenditure in a business (where the money goes to). |
OUTCOME RANGE |
Areas of expenditure include wages and salaries, suppliers (raw materials), rental, taxes, maintenance, etc. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 5 |
Describe how profit is generated and how it might be increased. |
OUTCOME RANGE |
Profit (or loss) is the difference between the money received from sales and the money paid out for costs. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 6 |
Describe the benefits to each stakeholder group of making a profit in the business. |
OUTCOME RANGE |
Profit is the property of the shareholders of the business but may be re-invested in the company or paid out in the form of bonuses or incentives. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 7 |
Identify and explain the role of the bookkeeping and accounting function of the business. |
OUTCOME RANGE |
The bookkeeping and accounting function fo the business is concerned with recording and monitoring financial transactions. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
SPECIFIC OUTCOME 8 |
Identify and explain the role of the human resource function of the business. |
OUTCOME RANGE |
The human resource function of the business is concerned with recruiting, selecting, training and developing employees, as well as with terminating employment. The function manages the process of determining wages and salaries and is also responsible for all record keeping relating to employees. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The basics of running a business are described, explained and discussed. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
ASSESSMENT CRITERION 2 |
2. The stakeholders in a business and their needs regarding the business are identified and their needs regarding the business are described. |
ASSESSMENT CRITERION NOTES |
Indicators
1. Descriptions and explanations are clear and accurate 2. The concept of an asset in the business is defined and the importance of assets in setting up and running a business is explained 3. The sources of money in setting up and running a business are identified. The differences between an investment (from a shareholder) and a loan (from a bank) are explained 4. The various costs of running a business are identified 5. Given sales and cost figures, profit is discussed. It is explained that that profits can be increased by increasing sales (volume and price) and decreasing costs. 6. The benefits to each stakeholder of making a profit in the business are discussed 7. The basic bookkeeping function is explained 8. The human resource function is explained Understanding confirmed 1. With reference to the specific workplace: |
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
The assessment will be governed by the policies and guidelines of the MERSETA Education and Training Quality Assuror (ETQA) who has jurisdiction over this field of learning.
The assessor will (at the very least) be accredited and have a technical qualification in this learning area. The learner can be assessed in the language of his/her choice although if s/he has to report incidents or conditions to some one else, s/he will be assessed on his/her ability to report in the language commonly used in the working environment. The learner can be assessed against this unit standard to obtain credits or as part of an integrated assessment for a qualification. |
UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
Names & functions of:
Purpose of: Attributes, descriptions, characteristics & properties of: Processes and events: Cause and effect, implications of: Categories Regulations, legislation, agreements, policies, standards Relationships, systems: |
UNIT STANDARD DEVELOPMENTAL OUTCOME |
N/A |
UNIT STANDARD LINKAGES |
N/A |
Critical Cross-field Outcomes (CCFO): |
UNIT STANDARD CCFO IDENTIFYING |
Identify and solve problems:
|
UNIT STANDARD CCFO ORGANISING |
Organise and manage myself and my activities:
|
UNIT STANDARD CCFO COLLECTING |
Collect, analyse, organise and critically evaluate information:
|
UNIT STANDARD CCFO COMMUNICATING |
Communicate effectively:
|
UNIT STANDARD CCFO DEMONSTRATING |
Demonstrate an understanding of the world as a set of related systems:
|
UNIT STANDARD ASSESSOR CRITERIA |
N/A |
REREGISTRATION HISTORY |
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. |
UNIT STANDARD NOTES |
Supplementary information:
Note: It is recommended that simulations be used as a component of assessment. |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 23253 | National Certificate (GETC): Manufacturing, Engineering and Related Activities | Level 1 | NQF Level 01 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MERSETA |
Elective | 61755 | General Education and Training Certificate: Business Practice | Level 1 | NQF Level 01 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | SERVICES |
Elective | 66269 | General Education and Training Certificate: Lumber Milling | Level 1 | NQF Level 01 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | FPMSETA |
PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: |
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
1. | BMD TEXTILES PTY LTD |
2. | ENB TRAINING SERVICEPTYLTD |
3. | GNBR SOLUTIONS PTY LTD |
4. | MALITINNE PTY LTD |
5. | TAMASA TRAINING PTY LTD |
6. | TIRHANI SKILLSTRAINING PTY LTD |
7. | UMBUSO TRAINING SERVICES |
8. | UMGANO FOUNDATION NPC |
All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |