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15 October 2018

Business news for the Case Study exam

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Each new Advance Information document changes how we watch the news, and Bespoke Monogramming is no exception. ICAEW Case Study exams are all rooted in real life business scenarios, and reading, listening to or watching news will help you get a feel for how business work and interact every day.

Two stories have particularly caught our attention recently:

Royal Wedding

After the wedding of Princess Eugenie and Jack Brooksbank on Friday, this article on the BBC website (amongst many others) could have been straight out of Exhibit 14. How many local hotels had special event monogrammed items, and how many of these mysteriously disappeared? Should the hotel mind, or simply build the price of the item into their costs? Does it matter to the monogramming company what happens to the items they sell?

Hidden Overdraft

Whilst we're not expecting Bespoke Monogramming to have any hidden overdrafts, nor for Ffion Deans to be arrested, the Patisserie Valerie near collapse is another demonstration of how suddenly a company can fail, just like Majestic in 2015. Patisserie Valerie looks to have been saved by a cash injection of £20m from the owner, who said "There were 2,800 jobs at stake, there was 12 years of effort that I and colleagues had put into the business, and the board were determined not to allow the business to go into administration," (BBC website). As well as the job loss for staff, a company such as this disappearing with no warning would have a huge impact on suppliers' business, just as Majestic did on BM. Even BM's detailed customer and supplier evaluation would not identify a dishonest accountant in another company.

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