Question

Q.3.1.1Describe the sector (not industries) in which your entrepreneur operates. (3)
Q.3.1.2 Assess any four macro‐environmental factors that influence or impacts on the
business venture of your chosen entrepreneur. Make use of relevant examples to support your discussion. (12)
Q.3.2.1 Entrepreneurs must be able to generate new ideas on a regular basis to keep up
with market demands.
With the use of examples, outline five ways business ideas could be generated.
(10)
Q.3.2.2 Conducting a viability study on new business ideas is crucial to business success.
Before you can begin with your viability study, you will have to do some market
research first and then answer a few important questions.
Summarise in your own words, the four questions entrepreneurs should ask and
answer before commencing with a viability study.
(5)
Q.3.2.3 Examine your answer in Q.3.2.2 and provide examples of how your chosen
entrepreneur should have answered the question within the context of their
business venture.
(5)

Business - Other

Answer 1

Q.3.1.1. Describe the sector (not industries) in which your entrepreneur operates.

Answer: Agriculture sectors is where our entrepreneur operates. The agriculture sector primary functions are

1. Growing crops

2. Raisning domestic animals, such as cow, goat, sheap, pigs and chicken

3. They also engaged in the field of fishery and production of diery products.

SWOT analysis of Agriculture sector

Strenghth:

1. Agriculture sectors come with huge demond.

2. Widely spread consumers agreeculture product

3. High technological advancement to improve the yied and quality of agreecultural products.

Weakness:

1. The suffers for lack of agricultural labours

2. Environmental issue are another setback for agreeculture sectors. such as draught and flood

3. Agree technologies are quite expensive.

Q.3.1.2 Assess any four macro‐environmental factors that influence or impacts on the
business venture of your chosen entrepreneur. Make use of relevant examples to support your discussion.

Macro economic factors that influence agricultural sector.

1. Legal frame work: Legaal frame of any country being a most important macro economical factor. Change any legal from that leads to huge change in demand, supply and price of agri commodities. for example if government impose restriction on export of sugar, that will have strong price regular from goverment.

2. Political Factor: Any change in political factors will leads to strong change in demand and supply. Example: some government may give importance to agricultural export but some political many party many not encourage it.

3. Demographic factors: Demographic dividend is a sigfinificant macre economic contributor. Change in demographic factors such as population age, population distribution, education level will have huge impact on the agreecultural sector.