Question

Life Orientation/Grade 12
NSC
MDE/SBT/ 2021
ACTIVTIY 3
3.1 Define the following concepts:
.
e-Business
Nepotism
Cronyism
Embezzlement
Bribery
(4x1) (4)
3.2 Mention TWO benefits of positive values at the workplace.
(2x1) (2)
3.3 Indicate why it is important to follow a course or a program in keeping with your
value system
(4x1) (4)
3.4 Explain the use of NBT.
(4x2) (8)
3.5 Assess how entrepreneurship may be a viable option to counteract
unemployment.
(2x2) (4)
3.6 Critically discuss how fraud and corruption may negatively impact economic
growth and development of a country.
(2x4) (8)
​

Answer 1

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Explanation:

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Answer 2

3.1 E - BUSINESS

E - Business is also known as electronic business . It is the process of conducting business through online, like internet or web over computer mediated network.

Online marketplaces are websites that facilitate buying and selling of goods or services between sellers and customer.

Example :- Amazon, filpkart, Myntra, swiggy, olx ,ebay etc.

NEPOTISM

Genrally nepotism means " practise of people having power favouring to thier families and friends, usually by giving them jobs ".

" practise of people having power favouring to thier families and friends, usually by giving them jobs ".

Nepotism in business is specific form of favorism in which an business leader priortises hiring his family member over a non family member.

CRONYSIM

It is a practise of partiality of awarding jobs and other advantages to thier friends or trusted employees in politics.

Cronysim is quite similar to nepotism but however:

• Cronysim is quite similar to nepotism but however:Nepotism refers to partiality to family,
• Cronysim is quite similar to nepotism but however:Nepotism refers to partiality to family,Cronysim refers to partiality to friends or associate.

EMBEZZLEMENT

It usually refers to theft, or to steal money or property.

It is also called as WHITE COLLAR CRIME, it occurs where someone in one position of trust recivies property on behalf of an employer and steals this property before the employer holds possession of this.

BRIBERY

It simply means giving , or offering something of an advantage as an inducement for an action which is illegal or unethical.

It is felony type of a crime which is punishable by state prison term of 1 or more year.

3.2 BENEFITS OF POSTIVE VALUES AT WORKPLACE

• Improve team work.
• Improve productivity and efficiency.
• Improve moral values.

3.3 IMPORTANCE OF FOLLOWING A COURSE OR PROGRAM IN KEEPING VALUE SYSTEM.

Values refers to molded by one's virtues or vices. Common values refers loyalty, spirituality, honesty, compassion, Integrity, selflessness.

Value system is set of individual values which exists in scale.It drives our action and helps us to reach our goal and helps to establish priorities in life. It helps us to grow and develop.

3.4 USES OF NBT

National benchmark test.

It is assessment for the 1 st year applicants into higher education institutions.

It is to measure one's ability to transfer understanding of academic literacy.

Most University uses it as a differenciator When looking at one's application.

• To assess entry-level academic literacy and mathematics skills.
• To provide institutions requiring additional information in the admission and placement of entry-level students.
• To assess the quantitative literacy (numerical skills).
• To assess the relationship between entry-level skills and school-level exit results.

3.5 ENTREPRENEURSHIP TO COUNTERACT TO UNEMPLOYMENT.

• Youth by default are energised and empowered and are ready to explore more and come out of their territory, to which entrepreneurship is the best option for self discovery and self employment.
• While working as an entrepreneur one get to work on many things and try different roles and turn themselves into better individual or a leader.
• Even entrepreneur bring big money from investor and even from foreign clients
• Entrepreneurship is the solution to unemployment, entrepreneurship opens many doors to new venture, opportunity, alliance.

3.6 NEGATIVE IMPACT OF FRAUD AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT.

• Corruption distorts incentives and market forces, leading to misallocation of resources.

• Corruption acts as an inefficient tax on
• business, ultimately raising production costs
• and reducing the profitability of investments.

• Corruption diverts talent and resources,
• including human resources, towards “lucrative”
• rent-seeking activities, such as defence, rather
• than productive activities.

• Rent-seeking behaviour is also likely to create
• inefficiencies, fuelling waste of resources and
• undermining the efficiency of public
• expenditure.

• Companies also lose significant business
• opportunities because of corruption risks.

• Corruption is ultimately economically inefficient
• for companies.

• Corruption negatively affects firms’ growth,

productivity, investment patterns and efficiency.