Read the scenario below and answer the questions that follow - NSC Business Studies - Question 2 - 2017 - Paper 1
Question 2
Read the scenario below and answer the questions that follow.
MARTHA & JANE FURNITURE (MJF)
Martha & Jane Furniture specialise in selling office furniture. The pro... show full transcript
Worked Solution & Example Answer:Read the scenario below and answer the questions that follow - NSC Business Studies - Question 2 - 2017 - Paper 1
Step 1
Quote THREE challenges for MJF from the scenario above.
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Answer
The profitability of the business has decreased due to high inflation rates.
Low income levels of customers.
MJF had to pay a hefty fine because their trading licence was not renewed in time.
Step 2
Identify the PESTLE element that links to EACH challenge, as quoted in QUESTION 2.3.1.
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Answer
Economic - High inflation rates affecting profitability.
Social - Low income levels of customers impacting sales.
Legal - Issues related to the renewal of trading licence.
Step 3
Recommend ONE way in which MJF can deal with EACH challenge, as identified in QUESTION 2.3.1.
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