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Business Studies - Business Environment IEB With Complete Verified Solutions
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Business Studies - Business Environment IEB With CompleteVerified Solutions
SABS - ANSWER Responsible for quality and standardization
CCSS,NCC - ANSWER CCSA- body empowered to prevent unfair business practices
against a competitor
NCC- carry's out the law of the CPA
CCMA and LRA - ANSWER Commission for conciliation,Mediation and arbitration's helps
both employees and employers maintain fair labor practices and so does the LRA
Political - ANSWER What:Refers to political developments in a country that influences
business.Stability of Gov is important to investors.
E.g how the government sets levies and spends taxes,strike,leader comments,terror
Strategy: Follow Gov legislation and regulations - Business may lobby together or sign
petition for change.
Physcial - ANSWER Everything in the immediate environment of the business
E.g landscape,site and weather
Lack of resources,lack of infrastructure.
Strategy:Business find best available source for resources, utilizes responsible
manufacturing and sourcing, make use of correct disposal and recycle. Find alternative
energy sources.
Economic - ANSWER What: the eco environment includes all the factors influencing
price and finances
E.g Inflation: is the sustained and substantial rise in prices of goods and services.
, The higher the rate - lower purchasing power
Interest Rates: High interest makes borrowing money harder.
Unemployment:no money to buy goods or products.
This all impacts selling price.
Strategy: recession - follow decline, cut costs.
Sell assets (divesture)
Low cost strategy:reducing costs
Growth strategy: increase market share or bring new products into the market.
Also invest in CSR
Business Cycle - ANSWER Prosperity (expansion) Peak (late upswing) recession (
economy slows down) and recovery.
HIV/AIDS treatment - ANSWER Problems for business:
Skilled workers become ill and die
Business needs to train new workers which cost money
Businesses also loose a lot of money due to decline in productivity
People with HIV astray away from work
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