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ACCT1002 M1 Workshop Questions
ACCT1002 M1 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.
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.