ACCA Paper F1 - Accountant in Business, Course Notes, BPP 2010
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6.11
Chapter 6: Questions
6: QUESTIONS
6.12
6.1 Adam Smith lists four features of a good tax system, which of the following is not one of these features?
A Regressive
B Economy
C Certainty
D Convenience (2 marks)
6.2 The Consumer Prices Index (CPI) is the European equivalent of the Retail Prices Index (RPI). True or
false?
A True
B False (1 mark)
6.3 Which of the following is not a category of unemployment?
A Technological
B Cyclical
C Demographic
D Seasonal (2 marks)
6.4 Which of the following is not a disadvantage of economic growth?
A Increased pollution
B Structural unemployment
C Faster use of natural resources
D Higher standard of living (2 marks)
6.5 In the business cycle if A represents Recession, B Depression, C Recovery and D Boom, which is the
correct sequence?
A BADC
B DABC
C CBAD
D ACDB (2 marks)
6.13
Chapter 6: Answers
6: ANSWERS
6.14
6.1 A A regressive tax is one which takes a higher proportion of a low income than a high income (eg
vehicle excise duty).
6.2 B The Consumer Prices Index excludes housing costs (which are included in the Retail Prices
Index), but is calculated on the same basis as the rest of Europe.
6.3 C Demographic is a term used to analyse a population into segments based on factors such as age
and income.
6.4 D Higher standard of living is an advantage of economic growth.
6.5 B The cycle operates in the following sequence; Boom, Recession, Depression, Recovery.
END OF CHAPTE
R
7.1
Syllabus Guide Detailed Outcomes
Having studied this chapter you will be able to:
• Appreciate factors outside the organisation, but which impact on it, using PEST analysis.
• Understand the necessity for data protection and health and safety procedures.
• Appreciate how the value chain enhances competitive advantage.
• Think through the impact of technology on organisations.
Exam Context
The topics covered in this chapter are heavily tested in the pilot paper. Questions covered population trends,
environmental factors and scanning, data protection regulation and employment legislation.
Qualification Context
This chapter forms a useful basis for part of the P3 syllabus.
Business Context
Organisations need to understand and appreciate the environment in which they operate in order to maximise their
potential competitive advantage.
The business
environment
7: THE BUSINESS ENVIRONMENT
7.2
Overview
The business environment
Analysing the general
environment
Porter's 5 Forces Porter's Value Chain
Political and legal factors
Social, cultural and
technological trends
Employment law Data protection
Health & safety
Impact of IT Key factors
7: THE BUSINESS ENVIRONMENT
7.3
1 Analysing the environment
1.1 The environment can be described as everything which is beyond the organisational
boundary.
1.2 Management cannot control the environment, however it influences all aspects of
organisational activity and so must be viewed strategically.
1.3 The environment comprises a number of different elements, illustrated by the rings in the
diagram below:
ORGANISATION
COMPETITIVE
ENVIRONMENT
POLITICS TECHNOLOGY
ECONOMY
SOCIETY
(& CULTURE)
MACRO ENVIRONMENT
PHYSICAL ENVIRONMENT
MATERIALS
SUPPLIERS
LABOUR
CAPITAL
GOODS TO
CUSTOMERS
WAGE TO
LABOUR
PROFIT TO
INVESTORS
POLLUTION
GENERAL
ENVIRONMENT
7: THE BUSINESS ENVIRONMENT
7.4
Lecture example 1
Ideas generation
Required
Suggest some reasons why companies should analyse their environment?
Solution
1.4 The general environment covers all the political/legal, economic, social/cultural and
technological influences in the countries in which an organisation operates.
1.5 PEST analysis is used as a framework for generating ideas for the factors that are
influencing the environment:
P Political/Legal/Regulation
E Economic
S Social/Cultural/Fashion
T Technology
2 Political and legal environment
2.1 The political factors impacting on the environment include:
(a) Degree of government intervention
(b) Policy direction
(c) Political risk
2.2 The legal framework in which organisations operate derives from:
(a) Parliamentary legislation
(b) Government regulations
(c) Treaty obligations
(d) Official regulations
(e) International bodies
2.3 Key legislation for organisations includes:
• Company law • Health and Safety
• Criminal law • Data Protection
• Employment law
7: THE BUSINESS ENVIRONMENT
7.5
3 Legal framework for employees
3.1 Employees are protected by a range of laws including the following areas:
• Termination of employment
• Health and safety in the workplace.
Termination of employment
Lecture example 2
Ideas generation
Required
Identify ways in which people leave organisations.
Solution
Health and safety
3.2 Both employers and employees have a duty to maintain health and safety standards at work
for the following reasons:
• To meet legal obligations
• To minimise the risk of accidents
• To minimise the risk of litigation
7: THE BUSINESS ENVIRONMENT
7.6
Lecture example 3
Ideas generation
Required
Suggest areas which would fall under the responsibility of the employer.
Solution
3.3 Employees' duties over health and safety include:
(a) Take care of themselves and others
(b) Do not interfere with machinery
(c) Use all equipment properly
(d) Inform employer of any potentially dangerous situation