QUESTION 3 Mr. Chukwuemeka Eze recently established Emeka Foods Limited (EFL), a small food processing company in Enugu State that produces packaged groundnut oil and tomato paste for sale in South-East Nigerian markets. As a new entrepreneur, Mr. Eze attended a business development seminar organised by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) where the facilitator emphasised the importance of understanding the competitive environment before making business decisions. Mr. Eze has approached you, a Chartered Accountant in practice, for advice on understanding the competitive forces in his industry and the general responsibilities a business owes to society. Required: (a) Explain Porter's Five Forces model and apply it to Emeka Foods Limited, identifying the likely intensity of each force in the Nigerian packaged food processing industry. (15 marks) (b) Explain the concept of Corporate Social Responsibility (CSR) and identify THREE CSR obligations that Emeka Foods Limited should consider in its operations. (8 marks) Total: 23 marks