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Explain four ways businesses can ethically uphold a healthy environment, four external factors that can negatively affect business operations, and four advantages of itinerant traders.
Business/Management
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11) Four ways through which a business can ethically uphold a healthy environment:
- Implementing waste reduction and recycling programs to minimize landfill contributions.
- Adopting sustainable sourcing practices for raw materials, choosing eco-friendly suppliers.
- Investing in energy-efficient technologies and renewable energy sources to reduce carbon footprint.
- Controlling and minimizing pollution (air, water, noise) through proper waste treatment and emission controls.
12) Four external factors that may affect business operations negatively:
- Economic recession: A downturn in the economy can lead to reduced consumer spending and business profits.
- Increased government regulations: New laws or stricter enforcement can increase compliance costs and operational complexities.
- Natural disasters: Events like floods, droughts, or earthquakes can disrupt supply chains, damage property, and halt operations.
- Intense competition: New entrants or aggressive strategies from existing competitors can erode market share and profitability.
13) Four advantages of itinerant traders:
- They have low overhead costs as they often do not pay rent for permanent premises.
- They can reach customers in remote or underserved areas that permanent shops might not access.
- They offer convenience to customers by bringing goods directly to their doorsteps or workplaces.
- They can be flexible with their operating hours and locations to meet changing customer demand.
14) Four roles of Nairobi Stock Exchange as a market for securities:
- It facilitates capital formation by enabling companies to raise funds from the public through issuing shares and bonds.
- It provides liquidity for investors, allowing them to easily buy and sell their securities.
- It helps in price discovery for securities based on supply and demand forces.
- It offers investment opportunities for individuals and institutions to grow their wealth.
15) Four methods used by the government to protect consumers:
- Enacting and enforcing consumer protection laws that prohibit unfair trade practices and ensure product safety.
- Setting and monitoring quality and safety standards for goods and services to prevent harm to consumers.
- Establishing regulatory bodies to handle consumer complaints and mediate disputes between consumers and businesses.
- Providing consumer education to inform the public about their rights and responsibilities.
16) Four factors to consider when choosing a means of transport:
- Cost: The expense associated with using a particular mode of transport, including fuel, labor, and maintenance.
- Speed: The time taken for goods to reach their destination, crucial for perishable or time-sensitive items.
- Reliability: The consistency and dependability of the transport method in terms of delivery schedules and safety.
- Type of goods: The nature of the product (e.g., fragile, bulky, liquid, hazardous) dictates suitable transport options.
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