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BUSINESS ENVIRONMENTS 4.1 State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005) - NSC Business Studies - Question 4 - 2020 - Paper 1
Question 4
BUSINESS ENVIRONMENTS 4.1 State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005). 4.2 Identify the force of Porter's ... show full transcript
Worked Solution & Example Answer:BUSINESS ENVIRONMENTS 4.1 State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005) - NSC Business Studies - Question 4 - 2020 - Paper 1
Step 1
State any FOUR consumer rights as stipulated in the National Credit Act (NCA), 2005 (Act 34 of 2005).
Answer
Consumers have the following rights:
- The right to apply for credit and to be free from discrimination.
- The right to receive a pre-agreement documentation before concluding any credit transaction.
- The right to receive reasons for credit being refused.
- The right to fair and responsible marketing.
Step 2
Identify the force of Porter's Five Forces model that applies to Louisa's Hair Salon in EACH statement below: 4.2.1 Lwazi opened a new hair salon across the street offering services at lower prices than Louisa's Hair Salon.
Answer
This scenario illustrates the threat of new entrants into the market, as Lwazi's salon is a direct competitor with lower pricing.
Step 3
Step 4
Explain TWO types of defensive strategies.
Answer
Two defensive strategies include:
- Diversification: This involves divesting from non-profitable assets and focusing on core business areas.
- Retrenchment: This strategy may involve reducing the workforce or closing less profitable departments to maintain financial health.
Step 5
Step 6
4.4.2 Advise the management of MC on any OTHER TWO ways in which they can comply with the Act identified in QUESTION 4.4.1.
Answer
Management can comply with COIDA by:
- Ensuring that all safety equipment is functional and regularly maintained.
- Keeping accurate records of all workplace injuries and illnesses for monitoring and reporting.
Step 7
You have appointed a new employee who needs to be inducted. 4.5.1 State TWO aspects that should be included in an induction programme.
Answer
Two essential aspects of an induction programme include:
- Providing an overview of company policies and procedures.
- Introducing the new employee to their team and work environment.
Step 8
Step 9
Explain the placement procedure as a human resource activity.
Answer
The placement procedure involves:
- Assessing competencies and aligning them with job requirements.
- Communicating responsibilities and expectations to the new employee.
- Ensuring that the employee feels welcomed and integrated into the workplace.
Step 10
4.7.1 Quote TWO roles of quality circles as part of the continuous improvement to processes and systems in the scenario above.
Answer
The roles of quality circles include:
- Identifying and addressing issues related to product quality.
- Proposing improvements in workflow and processes to enhance efficiency.
Step 11
4.7.2 Explain other roles of quality circles as part of continuous improvement that may assist the organization.
Answer
Other roles of quality circles include:
- Fostering teamwork and employee participation in problem-solving.
- Enhancing communication between management and employees regarding quality issues.
Step 12
Suggest ways in which total quality management (TQM) can reduce the cost of quality.
Answer
Ways in which TQM can reduce cost of quality include:
- Implementing preventive measures to reduce defects, thereby lowering rework costs.
- Encouraging continuous improvement practices that streamline processes and reduce waste.