ACCT1002 M1 Workshop Questions
Uploaded by
Madeline WheelerACCT1002 M1 Workshop Questions
Uploaded by
Madeline WheelerModule 1 - Workshop Questions
Question 1: Discuss how the following hypothetical events would affect the following
businesses
Business 1: IKEA: International furniture store with hundreds of stores worldwide
1. An IKEA store would be affected but not majorly as supply could be sent from
a different country to that country Instead.
2. Many wood furniture based Items would have to be sourced differently Is old-
growth forests are used In production.
IKEA could possibly set up their own plantations and or find a supplier
quite quickly.
However, as they have other Items, their sales would be affected but
nothing unrecoverable.
Business 2: A small city-based furniture shop that sells high quality custom designer
furniture which is manufactured locally by the owner
1. If the country provides a major form of income for the small business this may
result in an extreme loss of income that could potentially cause the business to
close or means they would have to find more consumers.
2. For a small business it may be difficult to receive supply. If unable to find a
supplier, they may shut to stop the business.
Event 1: Political Embargo- Relations deteriorate between 2 regional superpowers to
the point where all trade between the two countries is stopped
Event 2: In an effort to curb climate change, logging of all old-growth forests is
banned worldwide. Only wood from plantations can be used
Question 2: Outline the benefits for organisations in considering sustainability.
1. Better reputation In society
2. Reduced costs
3. Competitive advantage
4. Society feels they have filled their portion of the "social contract"
a. Could result In more customers
5. Better for environment
Question 3: What are the three pillars of sustainability?
1. Finance
2. Environment
3. Society
Question 4: Identify seven stakeholders of the business community, and give reasons as to
why they would have an interest.
1. government
a. ensure business Is regulated
2. consumers
a. goods and services
3. shareholders
a. profit
4. community
a. pros/cons for community
5. employees
6. creditors
7. special Interest groups
Question 5: Propose appropriate CSR activities/initiatives for firms in the "sin" industries
such as gambling, tobacco, liquor, and weaponry.
1. clear Instructions and Information on effect of products/goods
2. limits on who can buy or how much
3. reporting a suspicious purchase
a. I.e. 500 guns
Question 6: Do you think that firms in 'righteous' industries such as renewable energy should
get engaged in CSR activities? Explain your answer.
1. It depends on the firm.
2. For Instance, a business supplying weaponry opening a hospital would be a conflict of
Interest,
3. Otherwise, while a gambling firm being connected to a renewable energy firm may be
slightly unusual, It Is not Inherently bad.
