Question Tag: Business Environment

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CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

Analyze Pallat Manufacturing's macro-environment using the PESTEL model, discuss limitations, and explain risk audit stages.

Question

Pallat Manufacturing Company Limited was incorporated in Nigeria in 2004 and has made significant progress since its inception. The company manufactures cosmetics which it distributes throughout the country. However, the company is currently experiencing problems arising from major changes in its business environment. To deal with these challenges, the company set up a team of managers drawn from various departments. The team was required to evaluate the company’s current strategies in light of the challenges occurring in its environment.

a. With the aid of the PESTEL model, write a brief to be presented at the next scheduled meeting of the team, highlighting the significant factors in the macro-environment of the firm. (18 Marks)

b. Discuss TWO limitations of using the PESTEL analysis. (7 Marks)

c. As an Accountant, determine the FOUR stages involved in risk audit. (5 Marks)

Answer

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Tags: Business Environment, PESTEL, Risk Audit, Risk Management, Strategic Planning
Level: Level 2

Topic: Environment analysis
Series: NOV 2016

BMF – Nov 2014 – L1 – SA – Q17 – The Business Environment

Identify the term used to describe the business environment outside a company's country of incorporation.

Question

The environment of a business operating outside its own country of incorporation is called:

A. International
B. Multilateral
C. Cultural
D. Multinational
E. National

Answer

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Tags: Business Environment, Country of Incorporation, International business
Level: Level 1

Topic: The Business Environment
Series: NOV 2014

BMF – Nov 2014 – L1 – SA – Q8 – The Business Environment

Identifies what PEST analysis assesses in business.

Question

Political, Economic, Social and Technological (PEST) analysis is used to assess:

A. Staff of the organisation
B. Business environment
C. Board of Directors
D. Shareholders
E. Corporate Affairs Commission

Answer

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Tags: Business Environment, Economic, PEST Analysis, Political, Social, Technological
Level: Level 1

Topic: The Business Environment
Series: NOV 2014

BMF – May 2015 – L1 – SB – Q2 – The Business Environment

Discuss four external environmental factors that impact business operations.

Question

Businesses do not operate in a vacuum. There is a combination of internal and external factors that affect how businesses function.
State and explain any FOUR external environmental factors that affect a business.

Answer

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Tags: Business Environment, Economic, External Environment, Political, Social, Technological
Level: Level 1

Topic: The Business Environment
Series: MAY 2015

BMF – MAY 2015 – L1 – SA – Q12 – The Business Environment

Identifying the most appropriate term for individuals or groups interested in an organization.

Question

The most appropriate terminology that describes those who have interest in an organisation is:

A. Customers
B. Shareholders
C. Stakeholders
D. Management
E. Owners

Answer

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Tags: Business Environment, Business interests, Corporate Governance, Stakeholders
Level: Level 1

Topic: The Business Environment
Series: MAY 2015

BF – Nov 2015 – L1 – SB – Q3 – The Business Environment

Discussing the impact of the business environment and key marketing concepts.

Question

The business environment can have a fundamental impact on the degree to which a firm is able to develop and maintain successful transactions with its customers and consequently on its profitability and sustainability of its operations.

Explain briefly the following:
i. Product life cycle (5 Marks)
ii. PEST Analysis (4 Marks)
iii. SWOT Analysis (4 Marks)

b. State and explain the 7P’s of marketing. (7 Marks)

Answer

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Tags: 7P's, Business Environment, Marketing
Level: Level 1

Topic: The Business Environment
Series: NOV 2015

BF – Nov 2015 – L1 – SA – Q5 – The Business Environment

dentifying what is not a characteristic of the business environment.

Question

Which of the following options is NOT a characteristic of the business environment?
A. Complexity
B. Dynamism
C. Multi-facets
D. Far-reaching impact
E. Predictability

Answer

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Tags: Business Environment, Characteristics, Predictability

Topic: The Business Environment
Series: NOV 2015

SCS – Apr 2022 – L3 – Q2 – Environment analysis

Discuss HPC’s external business environment using PESTEL and evaluate limitations of PESTEL.

Question

favourable or unfavourable to its present survival and future success. The influences (current influences and possible future influences) of the business environment of HPC need to be analysed to ensure that none are over-looked.

Required:

a) Using PESTEL analysis, discuss HPC’s external business environment that appears to be either favourable or unfavourable to its present survival and future success. (8 marks)

b) Discuss TWO (2) limitations of PESTEL as a technique in analysing the environmental influences of HPC. (2 marks)

Answer

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Tags: Business Environment, External factors, PESTEL Analysis, Strategy Analysis
Level: Level 3

Topic: Environment analysis
Series: APR 2022

BL – Nov 2022 – L1 – SB – Q6d – Introduction to Law

Identifying ways by which electronic fraud could be committed in a business environment.

Question

Electronic fraud is an offence under the Criminal Code.

Required:
Identify four ways by which electronic fraud could be committed in a business environment.

Answer

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Tags: Business Environment, Criminal Law, Electronic Fraud
Level: Level 1

Topic: Introduction to Law
Series: NOV 2022

BMF – May 2022 – L1 – SB – Q3c – The Business Environment

Reasons why governments develop economic policy.

Question

State THREE reasons why government develop economic policy.

Answer

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Tags: Business Environment, Economic Policy, Government Policy
Level: Level 1

Topic: The Business Environment
Series: MAY 2022

FR – July 2023 – L2 – Q5b – Professional and Ethical Issues in Financial Reporting

Discussion on the responsibilities of accountants in business and challenges they face under pressure from management.

Question

i) Identify two responsibilities of accountants in business. (2 marks)

ii) Discuss two difficult circumstances accountants in business may face. (3 marks)

Answer

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Tags: Business Environment, Challenges for Accountants, Ethical Responsibilities, Ethics
Level: Level 2

Topic: Professional and Ethical Issues in Financial Reporting
Series: JULY 2023

AFM – Nov 2018 – L3 – Q1b – Economic environment for multinational organisations

Advising One-Village on the risks associated with a proposed irrigation project in a Sub-Saharan African country based on the World Bank Doing Business Report.

Question

The directors of One-Village are considering another irrigation project in a country in Sub-Saharan Africa. The World Bank’s Doing Business Report for 2017 ranked the destination country 140th out of 190 countries on the ease of doing business. Below is the ease of doing business statistics for the destination country and One-Village’s home country as reported in the Doing Business 2017 report.

Required:
Advise the directors on four risks or issues One-Village should consider when deciding on whether to implement the proposed irrigation project in the destination country, and suggest how the risks or issues may be mitigated or resolved.
(8 marks for risks and mitigation)

Answer

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Tags: Business Environment, Doing Business Indicators, Foreign Investment, Irrigation Project, Multinational Risk
Level: Level 3

Topic: Economic environment for multinational organisations
Series: NOV 2018

AT – Mar 2024 – L3 – Q1a – Tax administration in Ghana

Explaining the concept of free zones, their policy rationale, and the benefits for investors.

Question

The free zones enclave offers a fair business environment to all business operators irrespective of nationality, creed, or color. It has attracted both indigenes and foreigners. The benefits from the free zones appear very impressive, hence the numerous applications requesting to be granted free zone status.

Required:
i) Explain the concept of free zones.
(2 marks)

ii) Explain TWO (2) policy rationale for the establishment of the free zone.
(2 marks)

iii) Explain FOUR (4) reasons you would advise an investor to invest in a free zone enterprise.
(8 marks)

Answer

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Tags: Business Environment, Free zones, Investment benefits, Policy rationale, Tax Incentives
Level: Level 3

Topic: Tax administration in Ghana
Series: MAR 2024

BMIS – Nov 2016 – L1 – Q5a – The external environment

Outline factors in an organization's external environment that are beyond its control.

Question

An organization’s external environment is made up of those factors over which the organization has no degree of control.

Outline SIX of these factors. (6 marks)

Answer

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Tags: Business Environment, Ecological, Economic, External Environment, Legal, Political, Socio-Cultural, Technological
Level: Level 1

Topic: The external environment
Series: NOV 2016

BMIS – Nov 2023 – L1 – Q5b – The external environment

Describe how each element of the PEST Analysis (Political, Economic, Socio-cultural, Technological) influences an organization's operations.

Question

The PEST Analysis is a strategic tool used for generating information about how the business environment operates and influences the operations of an organisation.

Required:

Describe how each element in the analysis influences an organisation’s operations.

Answer

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Tags: Business Environment, External factors, Organizational operations, PEST Analysis, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Nov 2023 – L1 – Q2a – The external environment

Explain five ways the Government of Ghana can improve the business environment to help private enterprises thrive.

Question

It can be argued that the public sector must not directly engage in business but rather direct efforts and resources at securing an enabling environment in which the private sector which has been described as the engine of growth of the economy can flourish.

Required: Explain FIVE (5) ways by which the Government of Ghana can improve the business environment in order that private enterprises can thrive. (10 marks)

Answer

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Tags: Business Environment, Economic growth, Government Policy, Private Sector
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – July 2023 – Q5b – Competitive forces and markets

Explain five factors that can pose a threat to the successful operations of a business.

Question

A Threat which is an element of SWOT can be described as a factor or situation in a firm’s external environment that can be an obstacle to the efficient operations of the organisation. Required: In reference to the statement above, explain FIVE (5) factors which can pose a threat to the successful operations of a business organisation.

Answer

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Tags: Business Environment, Competitive Forces, SWOT Analysis, Threats
Level: Level 1

Topic: Competitive forces and markets
Series: JULY 2023

BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

Question

b) In an organization, every action of management body is influenced by the environment. In this context, “environment” means understanding the surroundings or conditions in which a particular activity is carried out.

Required:
Distinguish between internal and external environment of a business organization.
(5 marks)

Answer

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Tags: Business Environment, External Environment, Internal Environment, Organizational Environment, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2017

BMIS – Mar 2023 – L1 – Q5b – The external environment

Conducts a PEST analysis for Prekoka Beverages Ltd based on provided business challenges and opportunities.

Question

Prekoka Beverages Ltd (PBL) was established in 2022. The company manufactures alcoholic and non-alcoholic beverages. The company uses a modern automation system and a lean manufacturing system to ensure operational efficiency. The company is very optimistic about the future due to the increase in disposable income of the people in the country.

The management of the company is, however, concerned about the government’s proposal to increase regulations in the manufacturing of alcoholic beverages because of a research publication that alcoholic beverage consumption is causing health problems for consumers in the country.

The company also faces a challenge predicting its future revenue because the section of the population with purchasing power is conscious of their consumption patterns and, as a result, are reluctant to purchase sugar-based beverages. Additionally, the recent population census in Ghana indicated that the female population (which normally doesn’t consume alcoholic beverages) surpasses the male population.

Even though the management of PBL is confronted with the above challenges, they are optimistic about the future because there is strong economic and political stability that facilitates business growth in the country. PBL also has an efficient research and development team that can develop new products to meet the changing needs and tastes of consumers.

Required:
Prepare a PEST framework for PBL based on the above information.

Answer

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Tags: Business Environment, PEST Analysis, Strategic Planning
Level: Level 1

Topic: The external environment
Series: MAR 2023

IMAC – NOV 2023 – L1 – Q3 – Scope of Management Accounting

Discuss changes in the business environment affecting management accounting, differences between financial and management accounting, and the benefits of a cost and management accounting system.

Question

a) Management accounting can be described as the process of supplying the managers and employees in an organization with relevant information, both financial and non-financial, for making decisions, allocating resources, monitoring, evaluating, and rewarding performance.

Required:
In relation to the description of management accounting provided above:
State THREE (3) important changes that have taken place in the business environment that have influenced management accounting practice. (3 marks)

b) Financial Accounting and Management Accounting share important similarities since both are based on financial information and other quantitative information about business operations.

Required:
Identify FOUR (4) differences between financial accounting and management accounting. (4 marks)

c) Mr. Osei Nyarko, an engineer by training, established Kotmat Ltd three years ago with five employees. His only source of information concerning the performance of Kotmat Ltd has been the half-yearly financial statements, which he receives ten weeks after the end of each half-year. A proposal has been submitted to Mr. Osei Nyarko to install a cost and management accounting system.

Required:
i) Identify FOUR (4) benefits Mr. Nyarko will derive from installing a cost and management accounting system. (4 marks)
ii) Enumerate FOUR (4) types of information which could be obtained from the cost and management accounting system that cannot be obtained from the current system. (4 marks)

**d) State and explain TWO (2) useful pieces of information generated by marginal and absorption costing systems. (5 marks)

Answer

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Tags: Business Environment, Cost and Management Accounting System, Financial Accounting, Management Accounting
Level: Level 1

Topic: Scope of Management Accounting
Series: NOV 2023

Question Tag: Business Environment

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CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

Analyze Pallat Manufacturing's macro-environment using the PESTEL model, discuss limitations, and explain risk audit stages.

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BMF – Nov 2014 – L1 – SA – Q17 – The Business Environment

Identify the term used to describe the business environment outside a company's country of incorporation.

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BMF – Nov 2014 – L1 – SA – Q8 – The Business Environment

Identifies what PEST analysis assesses in business.

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BMF – May 2015 – L1 – SB – Q2 – The Business Environment

Discuss four external environmental factors that impact business operations.

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BMF – MAY 2015 – L1 – SA – Q12 – The Business Environment

Identifying the most appropriate term for individuals or groups interested in an organization.

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BF – Nov 2015 – L1 – SB – Q3 – The Business Environment

Discussing the impact of the business environment and key marketing concepts.

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BF – Nov 2015 – L1 – SA – Q5 – The Business Environment

dentifying what is not a characteristic of the business environment.

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SCS – Apr 2022 – L3 – Q2 – Environment analysis

Discuss HPC’s external business environment using PESTEL and evaluate limitations of PESTEL.

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BL – Nov 2022 – L1 – SB – Q6d – Introduction to Law

Identifying ways by which electronic fraud could be committed in a business environment.

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BMF – May 2022 – L1 – SB – Q3c – The Business Environment

Reasons why governments develop economic policy.

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FR – July 2023 – L2 – Q5b – Professional and Ethical Issues in Financial Reporting

Discussion on the responsibilities of accountants in business and challenges they face under pressure from management.

You're reporting an error for "FR – July 2023 – L2 – Q5b – Professional and Ethical Issues in Financial Reporting"

AFM – Nov 2018 – L3 – Q1b – Economic environment for multinational organisations

Advising One-Village on the risks associated with a proposed irrigation project in a Sub-Saharan African country based on the World Bank Doing Business Report.

You're reporting an error for "AFM – Nov 2018 – L3 – Q1b – Economic environment for multinational organisations"

AT – Mar 2024 – L3 – Q1a – Tax administration in Ghana

Explaining the concept of free zones, their policy rationale, and the benefits for investors.

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BMIS – Nov 2016 – L1 – Q5a – The external environment

Outline factors in an organization's external environment that are beyond its control.

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BMIS – Nov 2023 – L1 – Q5b – The external environment

Describe how each element of the PEST Analysis (Political, Economic, Socio-cultural, Technological) influences an organization's operations.

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BMIS – Nov 2023 – L1 – Q2a – The external environment

Explain five ways the Government of Ghana can improve the business environment to help private enterprises thrive.

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BMIS – July 2023 – Q5b – Competitive forces and markets

Explain five factors that can pose a threat to the successful operations of a business.

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BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

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BMIS – Mar 2023 – L1 – Q5b – The external environment

Conducts a PEST analysis for Prekoka Beverages Ltd based on provided business challenges and opportunities.

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IMAC – NOV 2023 – L1 – Q3 – Scope of Management Accounting

Discuss changes in the business environment affecting management accounting, differences between financial and management accounting, and the benefits of a cost and management accounting system.

You're reporting an error for "IMAC – NOV 2023 – L1 – Q3 – Scope of Management Accounting"

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