COMMERCE SS2 THIRD TERM

IN THIS TERM, LEARNERS SHOULD LOOK OUT FOR THE FOLLOWING IN DETAIL:

WK-1. CREDIT

Credit instrument Functions of credits to; retailer and wholesalers. Problems facing users of credit (buyer) Problems facing business in granting (seller).

WK-2. PROFIT 

Profit, meaning, types, gross and net profit. Calculation of gross and net profit from a given data. Calculation of gross and net profit to turnover.

WK-3. TURNOVER 

Turnover, meaning, relationship of capital investment to turnover, factors that affect turnover. Calculation of gross profit to turnover and net profit to turnover. Variation in turnover in different types of business.

WK-4. BUSINESS LAW 

Definition, list and explain the branches of business law- law of contract, sale of goods, agency, hire purchase, employment. Law of contract; meaning, basic elements/essentials of a valid contract. Parties to a contract, Parties to a contract, characteristics of an offer and termination of an offer, contract binding on a minor and contract void on a minor. Types of misrepresentation mistakes.

WK-5. BUSINESS LAW CONTD.

 Types of contract voidable, formal and informal, oral and written, expressed and implied etc Termination of a contract and remedies for breach of contract. Sales of goods act; meaning, provisions of sale of goods act 1893, rights of the buyer and unpaid seller.

WK-6. PRINCIPLES OF AGENCY 

Rights and duties of the agent and the principal. Rights and obligation of employer and employees. Government regulations of business—registration of business, patent right, trade mark, copy rights and intellectual property.

WK-7. STRUCTURE OF BUSINESS 

Organizational setup- Draw an organizational chart showing various positions. Authority responsibility, accountability, span of control, delegation of authority, advantages and disadvantages of delegation of power/authority.

WK-8. BUSINESS STRUCTURE CONTD 

Inter-intra-departmental communication, meaning, media of communication in inter and intra departmental communication. Comparism, importance of inter and intra-departmental communication. List the various media of communication. Distinguish between the power of an individual and the power of an office.

WK-9. INTRODUCTION TO BUSINESS MANAGEMENT 

Business- meaning of business and meaning of management. Business resources; meaning and examples- human, money, machine, materials, opportunities, goodwill. Business objectives. Management of business, functions of management (planning, organizing, etc)

WK-10. BUSINESS ORGANIZATION  

Departments, departmentalization, function. Business and its environment. Social responsibilities of business- scholarship awards, employment of people in the community, etc. Responsibilities to community, government, shareholders and employee.

WK-11. INTRODUCTION TO MARKETING 

Meaning, importance in functions in an economy. Marketing concept, the four marketing mix. Price mix; pricing policies e.g. penetration, scheming. Methods of promotion.