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 Identify... 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
List any FOUR forces of Porter's Five Forces model.
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Answer
The four forces of Porter's Five Forces model are:
Threat of substitution/Substitutes
Bargaining power of buyers
Threat/Barriers to new entry to the market
Power of suppliers
Competitive rivalry
Step 2
Outline the role of SETAs in supporting the Skills Development Act, 1998 (Act 97 of 1998).
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SETAs (Sector Education and Training Authorities) play a crucial role in implementing the Skills Development Act by identifying skills needs within various sectors, facilitating the development of training programs, and promoting workplace learning initiatives. They are responsible for disbursing funds collected from levies to support training and development endeavors aimed at improving workforce skills and productivity.
Step 3
2.3.1 Mpho Auditors uses Themba Shuttle services to transport their employees.
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This statement complies with the pillar of 'Enterprise Development' under the BBBEE Act as it shows the support of local service providers.
Step 4
2.3.2 They have donated laptops to schools in rural areas.
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This action aligns with the 'Socio-Economic Development' pillar as it contributes to the development of communities by enhancing educational resources.
Step 5
2.3.3 A learnership programme has been offered to all their employees.
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This demonstrates compliance with the 'Skills Development' pillar, promoting education and skills enhancement for employees.
Step 6
2.3.4 Mpho Auditors has promoted two black females as heads of various departments.
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This aligns with the 'Employment Equity' pillar, reflecting efforts to achieve equitable representation within the workplace.
Step 7
2.3.5 They have invited the Bakwena community to buy shares in their company.
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This initiative reflects compliance with 'Enterprise Development,' allowing marginalized communities an opportunity to participate in ownership.
Step 8
Distinguish between product development and market development.
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Product Development involves generating new ideas and creating a new product or service. This includes the introduction of a new product or service into existing markets.
Market Development, on the other hand, refers to the exploration of existing products into new markets. This may require market research to understand consumer needs.
Step 9
2.5.1 Name the Act MGM violated in the scenario above.
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MGM violated the Occupational Health and Safety Act.
Step 10
2.5.2 Discuss the negative impact of the Act, identified in QUESTION 2.5.1, on MGM.
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The Occupational Health and Safety Act's violation can lead to severe legal repercussions, financial penalties, and increased insurance costs for MGM. Additionally, non-compliance can harm MGM's reputation, leading to decreased employee morale and potential difficulty attracting skilled workers in the future.
Step 11
2.6.1 Name the business sector in which Super Energy Enterprise is operating.
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Super Energy Enterprise is operating in the Secondary sector, as it is involved in the manufacturing of maize meal and instant food products.
Step 12
2.6.2 Identify THREE challenges for SEE's business and classify EACH challenge according to the business environment.
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(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 for Standards - Macro
Step 13
Analyse the impact of the National Credit Act, 2005 (Act 34 of 2005) on businesses.
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The National Credit Act impacts businesses by establishing a regulatory framework that promotes responsible credit lending. It aims to protect consumers from over-indebtedness, which in turn affects businesses' access to credit. Compliance with this Act can lead to increased administrative costs for businesses, yet it helps safeguard their long-term financial sustainability by ensuring that customers can meet their repayment obligations.
