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2.1 List any FOUR forces of Porter’s Five Forces model - NSC Business Studies - Question 2 - 2018 - Paper 1
Question 2
2.1 List any FOUR forces of Porter’s Five Forces model. 2.2 Outline the role of SETAs in supporting the Skills Development Act, 1998 (Act 97 of 1998). 2.3 Identi... show full transcript
Worked Solution & Example Answer:2.1 List any FOUR forces of Porter’s Five Forces model - NSC Business Studies - Question 2 - 2018 - Paper 1
Step 1
Step 2
Outline the role of SETAs in supporting the Skills Development Act, 1998 (Act 97 of 1998).
Answer
SETAs (Sector Education and Training Authorities) are responsible for the implementation of the Skills Development Act. They facilitate education and training by funding skills programs, supporting workplaces in training efforts, and ensuring that the workforce is equipped with relevant skills. Their role includes promoting skills development, quality assurance of training standards, and fostering partnerships between employers and education providers.
Step 3
Identify the pillar of the Broad-Based Black Economic Empowerment Act (BBBEE), 2003 (Act 53 of 2003) that Mpho Auditors has complied with in EACH statement below:
Answer
2.3.1 Mpho Auditors uses Themba Shuttle services to transport their employees. Pillar: Enterprise Development.
2.3.2 They have donated laptops to schools in rural areas. Pillar: Socio-Economic Development.
2.3.3 A learnership programme has been offered to all their employees. Pillar: Skills Development.
2.3.4 Mpho Auditors has promoted two black females as heads of various departments. Pillar: Employment Equity.
2.3.5 They have invited the Bakwena community to buy shares in their company. Pillar: Enterprise Development.
Step 4
Distinguish between product development and market development.
Answer
Product Development:
- Involves generating new ideas and developing a new product or service.
- The introduction of a new product or service into existing markets.
Market Development:
- This process involves exploring and finding new markets for existing products.
- It may include business research to discover potential customers in untapped areas.
Step 5
Step 6
Discuss the negative impact of the Act, identified in QUESTION 2.5.1, on MGM.
Answer
The negative impacts of the Occupational Health and Safety Act on MGM can include:
- Legal consequences: Failure to comply can lead to fines or legal action, damaging MGM's reputation.
- Increased costs: The need to implement safety measures may incur additional costs for MGM.
- Employee morale: An unsafe working environment can lower employee motivation and productivity, leading to higher turnover rates.
Step 7
Step 8
Identify THREE challenges for SEE’s business and classify EACH challenge according to the business environment.
Answer
| CHALLENGE | BUSINESS ENVIRONMENT |
|---|---|
| (a) SEE employees are regularly absent from work | Micro |
| (b) They buy their raw material from Early Bird Maize Farm which is out of stock sometimes. | Market |
| (c) The local government has instructed the management of SEE to register their products with the South African Bureau of Standards. | Macro |
Step 9
Analyse the impact of the National Credit Act, 2005 (Act 34 of 2005) on businesses.
Answer
The National Credit Act has several impacts on businesses:
- Credit availability: Businesses may face restrictions on the extension of credit, affecting sales volume.
- Increased administrative burden: Compliance with the Act entails more paperwork and procedures, increasing operational complexity.
- Consumer protection: Enhanced consumer rights lead businesses to adapt their practices to remain compliant and avoid litigation.