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enz859 · 2024年01月23日

请解答

NO.PZ2022120702000052

问题如下:

J Justin Deyzak is conducting a review of the food industry and came comes across two companies which are interesting investment opportunities. Because he is aware that agricultural companies can be highly exposed to climate risk, he investigates Company A and Company B’s business models in order to assess those risks. Below is the summary of his findings.

Company A

Company A’s main products are premium cookies and cakes, which it sells retail in niche markets across the Middle East. It has a franchise model in which it maintains the design and recipe of its product in-house, while outsourcing raw material and production to partners. Suppliers for the key raw material, flour, are based in Yemen and Libya, which have been plagued with water scarcity in the past few years.

Company B

Company B is based in Mexico and produces chocolate paste. To ensure the standard of quality required by its clients, the company owns all of the farms that supply the cocoa.

The company has been growing through acquiring farmland acquisitions. It identifies locations where water sources and soil are of high quality but poor farming techniques have led to inefficiencies. It purchases the land and then works with the farmers to help them transition to more sustainable and productive farming methods.

Which of the following statements is true regarding transition risk?

选项:

A.Company A has lower transition risk because it is a B2C (business-to-consumer) company which outsources its agricultural production. B.Company B has higher transition risk because it is a B2B (business-to-business) company that needs to educate farmers about other farming methods. C.Transition risk related to changing consumer expectations regarding agricultural methods should be considered for both B2B (business-to-business) and B2C (business-to-consumer) companies. D.Justin does not need to review regulation on deforestation in the three countries as these would not impact transition risk.

解释:

不管是B2B还是B2C公司,都应考虑消费者对农业方法期望的变化,而农业方法的改进属于transition risk的技术方面。

D选项错误,三个国家的监管层面会影响transition risk,因此Justin需要关注。

请解释答案C 和整个题目的关联性。不太理解transition risk的定义了,放在这里

1 个答案

净净_品职助教 · 2024年01月23日

嗨,爱思考的PZer你好:


"Transition risk"在这个背景下指的是由于ESG方面的变化(如气候变化、消费者行为的改变、新技术的发展、政府政策或法规的变化等)导致的经营风险。这种风险通常与转型到更可持续或更环保的业务模式有关。

在提到的情境中,Company A和Company B都在农业领域运营,这是一个高度受气候变化和可持续农业实践影响的行业。选项C指出,无论是面向其他企业的B2B公司(如Company B),还是面向消费者的B2C公司(如Company A),都需要考虑消费者对农业方法的期望变化。

这种期望可能包括对环境友好的农业实践、减少水资源使用、减少碳排放等。这些期望的变化可能导致公司需要改变其业务实践或面临来自市场或法规的压力,从而产生转型风险。例如,如果消费者开始偏好环境可持续的产品,那么不采用这些实践的公司可能会失去市场份额。

对于Company A,它依赖于从水资源匮乏地区(也就是环境压力较大的地区)进口原料,这可能导致供应链中断或成本增加,因此它面临着由于环境因素导致的转型风险。而Company B则通过采用可持续的农业实践来管理其供应链,可能在短期内面临转型成本,但长期来看可能会减少由于环境因素造成的风险。

因此,C正确地指出,无论是B2B还是B2C公司,都需要考虑到这种由于农业方法的期望变化带来的转型风险。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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