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: The likelihood that customers will find a different way of doing what you do.
Bargaining Power of Buyers: The power of buyers to affect the price they pay for goods and services.
Threat of New Entrants: The ease or difficulty with which new competitors can enter the market.
Power of Suppliers: The power of suppliers to drive up prices or reduce the quality of goods and services.
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 promoting learning and skills development in specific sectors. They facilitate the training programs, develop frameworks and standards for skills, and help to fund training initiatives. By providing these services, SETAs ensure that individuals are equipped with the necessary skills to improve productivity and competitiveness in the workplace.
Step 3
2.3.1 Mpho Auditors uses Themba Shuttle services to transport their employees.
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This statement corresponds to the pillar of Enterprise Development as it shows Mpho Auditors engaging with a local service provider, thereby supporting local businesses.
Step 4
2.3.2 They have donated laptops to schools in rural areas.
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This reflects compliance with the Socio-Economic Development pillar, as it directly benefits the community by enhancing educational resources.
Step 5
2.3.3 A learnership programme has been offered to all their employees.
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This aligns with the Skills Development pillar of BBBEE, indicating efforts to provide training and growth opportunities for employees.
Step 6
2.3.4 Mpho Auditors has promoted two black females as heads of various departments.
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This represents compliance with the Employment Equity pillar, demonstrating commitment to improving diversity and representation within the company.
Step 7
2.3.5 They have invited the Bakwena community to buy shares in their company.
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This action fits under the Enterprise Development pillar, encouraging community investment and shared growth.
Step 8
Distinguish between product development and market development.
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Product development involves creating new ideas and developing them into a new product or service, while market development focuses on expanding the existing market for the current product or entering new markets.
Step 9
2.5.1 Name the Act MGM violated in the scenario above.
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The Act violated by Mango Groove Manufacturers is likely 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 negative impact of the Occupational Health and Safety Act on MGM includes potential legal liabilities, loss of employee trust, and decreased workplace morale. Non-compliance can lead to penalties or fines and could severely tarnish the company's reputation.
Step 11
2.6.1 Name the business sector in which Super Energy Enterprise is operating.
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Super Energy Enterprise operates in the Secondary Sector, as it involves the production of goods from raw materials.
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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The challenges and their classifications are:
(a) SEE employees are regularly absent from work.
Micro Environment: Affects the operational capacity and productivity of the business.
(b) They buy their raw material from Early Bird Maize Farm which is out of stock sometimes.
Market Environment: Dependence on a fluctuating supply chain can disrupt production.
(c) The local government has instructed the management of SEE to register their products with the South African Bureau for Standards.
Macro Environment: Regulatory pressures can create additional operational burdens.
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 imposes strict regulations on lending practices to protect consumers. For businesses, it may limit the ability to issue credit or loans without proper assessments and may also require more transparency in terms of costs and fees. This can lead to a decrease in sales and profitability, as customers may have less access to credit, impacting overall market dynamics.
