Topic: Competitive forces and markets

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  • 7 Marks

BMIS – Nov 2024 – L1 – Q2a – Types of Organisations

Explain three reasons why monopoly control over a market might be undesirable.

A monopoly is a market structure in which a single seller or producer assumes a dominant position in an industry or a sector. In most jurisdictions, legislations are in place to restrict monopolies and ensure that one business cannot control the market.

Required:
i) Explain THREE reasons monopoly control over a market might be undesirable

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  • 10 Marks

BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment

State and explain five economic factors that influence opportunities or threats for organizations in the macro-environment.

4. (b) The macro-environment contains several conditions and factors that systematically present opportunities or pose threats to organizations in their effort to gain competitive advantage. The factors in the macro-environment for the purpose of effective analysis are grouped using the PEST model, which represents political, economic, socio-cultural, and technological factors. Understanding these factors will influence the kind of strategies business organizations would formulate.

Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.

 

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  • 14 Marks

BMIS – Nov 2016 – L1 – Q1b – Competitive forces and markets

Identify bases and conditions for successful market segmentation for a global clothing manufacturer.

Bisclothing manufactures clothing for the global market and has decided to segment the market to be able to serve its customers well. Your task is to:

i) State THREE bases for segmenting the global clothing market of Bisclothing. (6 marks)
ii) State FOUR conditions that Bisclothing can use to ensure a successful segmentation process for the company. (8 marks)

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  • 10 Marks

BMIS – March 2024 – L1 – Q5b – Competitive forces and markets

Explain the components of Porter's Five Force Model used to analyze competitive environment and its impact on a company's profitability and strategy.

The Porter’s Five Force Model is regarded as a tool for driving industry competition. The model is used to analyse the competitive environment in terms of five key forces that impact a company’s profitability and influence its strategy.

Required: Explain the components of the Model. (10 marks)

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  • 6 Marks

BMIS – March 2024 – L1 – Q2c – Competitive forces and markets

Explain characteristics of a perfectly competitive market and how a monopolist can maximize revenue by choosing either price or quantity.

A perfectly competitive market has been described as one in which buyers and sellers have no option but to take the price determined by the forces in the market. Whereas prices are determined by the forces in a perfectly competitive market, a monopolist firm can maximise its revenue by doing one of two things – choose price or quantity.

Required: i) Explain THREE (3) characteristics of a perfectly competitive market. (3 marks) ii) Explain the statement in bold. (3 marks)

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  • 10 Marks

BMIS – July 2023 – Q5b – Competitive forces and markets

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

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.

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  • 10 Marks

BMIS – Mar 2023 – L1 – Q2a – Competitive forces and markets

Calculates the price elasticity of demand for a product and explains factors that determine it.

You are the Account Officer of Dinke Café, a company that sells cocoa drink to a wide range of consumers. The company sells a cup of cocoa drink for GH¢2, which yielded a sales output of 10 million cups for the year ending 2021. As part of a promotional package to celebrate its silver jubilee, the company reduced its price to GH¢1.50, which increased its total sales output to 15 million cups for the year ending 2022.

Required:
i) Calculate the price elasticity of demand of Dinke Café.
(4 marks)
ii) Explain THREE (3) factors that might have determined the company’s price elasticity of demand.
(6 marks)

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  • 15 Marks

BMIS – May 2017 – L1 – Q2a – Competitive forces and markets

Explain how Porter’s Five Forces can assess industry attractiveness.

a) Charis Shoes Ltd has been in existence for 5 years. The Board of Charis Shoes Ltd needs a report on examination of the industry’s attractiveness.

Attractiveness in this context according to the board refers to the overall industry profitability.

Required:
Explain how the Porters Five Forces model can be used to assess the attractiveness of the industry in which Charis Shoes Ltd operates. (15 marks)

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  • 10 Marks

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

The Gana Oil Company was granted a license by the government to conduct its own oil explorations and drilling in Ghana. The Chief Executive Officer (CEO) on realizing the nature and the risks involved in the explorations and drilling venture decided to form an alliance with Emi Explorations International to implement the venture.

Required:

Explain FIVE (5) benefits Gana Oil Company will gain from the CEO’s decision.

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  • 7 Marks

BMIS – Nov 2024 – L1 – Q2a – Types of Organisations

Explain three reasons why monopoly control over a market might be undesirable.

A monopoly is a market structure in which a single seller or producer assumes a dominant position in an industry or a sector. In most jurisdictions, legislations are in place to restrict monopolies and ensure that one business cannot control the market.

Required:
i) Explain THREE reasons monopoly control over a market might be undesirable

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  • 10 Marks

BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment

State and explain five economic factors that influence opportunities or threats for organizations in the macro-environment.

4. (b) The macro-environment contains several conditions and factors that systematically present opportunities or pose threats to organizations in their effort to gain competitive advantage. The factors in the macro-environment for the purpose of effective analysis are grouped using the PEST model, which represents political, economic, socio-cultural, and technological factors. Understanding these factors will influence the kind of strategies business organizations would formulate.

Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.

 

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  • 14 Marks

BMIS – Nov 2016 – L1 – Q1b – Competitive forces and markets

Identify bases and conditions for successful market segmentation for a global clothing manufacturer.

Bisclothing manufactures clothing for the global market and has decided to segment the market to be able to serve its customers well. Your task is to:

i) State THREE bases for segmenting the global clothing market of Bisclothing. (6 marks)
ii) State FOUR conditions that Bisclothing can use to ensure a successful segmentation process for the company. (8 marks)

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  • 10 Marks

BMIS – March 2024 – L1 – Q5b – Competitive forces and markets

Explain the components of Porter's Five Force Model used to analyze competitive environment and its impact on a company's profitability and strategy.

The Porter’s Five Force Model is regarded as a tool for driving industry competition. The model is used to analyse the competitive environment in terms of five key forces that impact a company’s profitability and influence its strategy.

Required: Explain the components of the Model. (10 marks)

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  • 6 Marks

BMIS – March 2024 – L1 – Q2c – Competitive forces and markets

Explain characteristics of a perfectly competitive market and how a monopolist can maximize revenue by choosing either price or quantity.

A perfectly competitive market has been described as one in which buyers and sellers have no option but to take the price determined by the forces in the market. Whereas prices are determined by the forces in a perfectly competitive market, a monopolist firm can maximise its revenue by doing one of two things – choose price or quantity.

Required: i) Explain THREE (3) characteristics of a perfectly competitive market. (3 marks) ii) Explain the statement in bold. (3 marks)

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  • 10 Marks

BMIS – July 2023 – Q5b – Competitive forces and markets

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

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.

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  • 10 Marks

BMIS – Mar 2023 – L1 – Q2a – Competitive forces and markets

Calculates the price elasticity of demand for a product and explains factors that determine it.

You are the Account Officer of Dinke Café, a company that sells cocoa drink to a wide range of consumers. The company sells a cup of cocoa drink for GH¢2, which yielded a sales output of 10 million cups for the year ending 2021. As part of a promotional package to celebrate its silver jubilee, the company reduced its price to GH¢1.50, which increased its total sales output to 15 million cups for the year ending 2022.

Required:
i) Calculate the price elasticity of demand of Dinke Café.
(4 marks)
ii) Explain THREE (3) factors that might have determined the company’s price elasticity of demand.
(6 marks)

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  • 15 Marks

BMIS – May 2017 – L1 – Q2a – Competitive forces and markets

Explain how Porter’s Five Forces can assess industry attractiveness.

a) Charis Shoes Ltd has been in existence for 5 years. The Board of Charis Shoes Ltd needs a report on examination of the industry’s attractiveness.

Attractiveness in this context according to the board refers to the overall industry profitability.

Required:
Explain how the Porters Five Forces model can be used to assess the attractiveness of the industry in which Charis Shoes Ltd operates. (15 marks)

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  • 10 Marks

BMIS – Dec 2023 – L1 – Q1a – Competitive forces and markets

Explains five benefits of forming a strategic alliance in the oil exploration industry.

The Gana Oil Company was granted a license by the government to conduct its own oil explorations and drilling in Ghana. The Chief Executive Officer (CEO) on realizing the nature and the risks involved in the explorations and drilling venture decided to form an alliance with Emi Explorations International to implement the venture.

Required:

Explain FIVE (5) benefits Gana Oil Company will gain from the CEO’s decision.

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