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Business Studies - Business Environment IEB With Complete Verified Solutions

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Business Studies - Business Environment IEB With Complete Verified Solutions...

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  • November 22, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • Business Studies - Business Environment IEB
  • Business Studies - Business Environment IEB
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Chrisyuis
Business Studies - Business Environment IEB With Complete
Verified 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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