a) Explain five benefits of developing a business plan to a business person. (10 marks) b) Describe five reasons why businesses train their employees. (10 marks) QUESTION THREE a) Explain any FOUR forms of business organizations. (8 marks) b) Describe any THREE disadvantages of each. (12 marks) QUESTION FOUR a) Explain any FIVE factors leading to business failure in Kenya today.(10 marks) b) Corporate social responsibility is a necessary evil to any business. Explain FIVE reasons/merits companies should embrace corporate social responsibility. (10 marks) QUESTION FIVE a) Explain any TEN roles played by the government in business. (10 marks) b) Explain any FIVE relevancies of e-commerce in the business today. (10 marks)

Question

a) Explain five benefits of developing a business plan to a business person. (10 marks) b) Describe five reasons why businesses train their employees. (10 marks) QUESTION THREE a) Explain any FOUR forms of business organizations. (8 marks) b) Describe any THREE disadvantages of each. (12 marks) QUESTION FOUR a) Explain any FIVE factors leading to business failure in Kenya today.(10 marks) b) Corporate social responsibility is a necessary evil to any business. Explain FIVE reasons/merits companies should embrace corporate social responsibility. (10 marks) QUESTION FIVE a) Explain any TEN roles played by the government in business. (10 marks) b) Explain any FIVE relevancies of e-commerce in the business today. (10 marks)

Answer 1

QUESTION ONEa) Five benefits of developing a business plan to a business person are:1. Provides a clear direction and vision for the business.2. Helps in identifying potential challenges and opportunities.3. Assists in securing funding and investment.4. Serves as a tool for measuring progress and success.5. Facilitates effective communication and coordination among team members.b) Five reasons why businesses train their employees are:1. Enhances employee skills and knowledge.2. Improves productivity and efficiency.3. Reduces employee turnover and absenteeism.4. Promotes a positive work culture and morale.5. Increases customer satisfaction and loyalty.QUESTION THREEa) Four forms of business organizations are:1. Sole Proprietorship2. Partnership3. Corporation4. Cooperativeb) Three disadvantages of each are:1. Sole Proprietorship: Limited access to capital, unlimited liability, lack of continuity.2. Partnership: Unlimited liability, potential for conflicts, limited lifespan.3. Corporation: Double taxation, complex regulations, potential for excessive bureaucracy.4. Cooperative: Limited profit potential, difficulty in raising capital, susceptibility to democratic control.QUESTION FOURa) Five factors leading to business failure in Kenya today are:1. Poor financial management2. Inadequate market research3. Lack of diversification4. Insufficient capital5. Ineffective marketing strategiesb) Five reasons/merits companies should embrace corporate social responsibility are:1. Enhances brand reputation and customer loyalty2. Attracts and retains top talent3. Reduces legal and regulatory risks4. Promotes long-term sustainability5. Contributes to societal well-being and environmental conservationQUESTION FIVEa) Ten roles played by the government in business are:1. Regulating and enforcing laws2. Providing infrastructure and public services3. Promoting economic growth and stability4. Protecting consumer rights and safety5. Encouraging innovation and entrepreneurship6. Facilitating international trade and investment7. Providing education and training programs8. Offering financial incentives and subsidies9. Conducting market research and analysis10. Resolving disputes and conflictsb) Five relevancies of e-commerce in the business today are:1. Increased accessibility and convenience for customers2. Expanded market reach and global customer base3. Reduced operational costs and improved efficiency4. Enhanced data collection and customer insights5. Facilitation of personalized marketing and targeted advertising

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