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27 Cards in this Set
- Front
- Back
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What are the 3 Levels of Business Sizes?
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Small, Medium and Large
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How does a business contribute to the economy?
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Meats the consumers needs, providing employment, export income, Technological and innovative development.
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What types of Business' and how do they differ?
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Sole proprietorship - business owned by one person.
Partnership - business owned between 2 - 20 people Company - It is its own entity. |
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What are the disadvantages of a sole trader?
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No one to help with the business.
Money is gatherered from the one owner |
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What are the disadvantage sof a partnership?
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Disagreements within the group.
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What are the disadvatanges of a company?
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You have less freedom.
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What are the disadvantages of a franchise?
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Very little freedom.
No choice in what to do? |
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What does a business provide?
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Jobs, new development, economy flow.
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What is Entrepreneurship?
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Entrepreneurship is the ability to take the opportunity innovative idea's and make it successful.
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Define Innovation
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The ability to develop something creative, different, and relatively new.
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What are the 5 Major Zones?
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Heavy Industrial
Light Industrial Agricultural Commercial Residential |
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What is the Work Place agreement?
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A legal agreement between an individual or group and an employer in relation to the conditions of employment at the workplace.
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What are the equal opportunity Act 1995?
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stops unlawful employers to disriminate against their status and private life.
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What is the triple bottom line?
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What is needed for a business to be successful.
Financial. Social. Environmental. |
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What are the 4 P's?
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Price, Product, Place, Promote
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What is the Equal Opportunity Act 1995?
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The act prevents employers from discriminating in employment.
Determines who gets a job. Terms of emploment. Refusing a job. Denying access to training. |
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What is the OH&S?
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Is a group which manages the physical and psychological aspects of a work eviroment. The try to make the workplace a better place for the employees.
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What is an Unfair Dismisal?
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An unfair dismissal is when an employee is fired because of an invalid reason. Full time anf Part time workers get the privilage of getting 4 weeks of payment upon unfair dismissals.
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How do you employ the right person?
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Analyse the needs for employment.
Recruit people from a vast range of area. Select the person by asking questions. |
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What does an Organisation need?
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Humans, and Physical Resources.
purpose. relationships with others internally or externally. external factors such as the law. |
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What is within a Macro Environment?
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Political
Social Legal Technological Econimic |
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What is within a Operating Environment?
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Customers
Suppliers Competitors Interest Groups |
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What is within a Internal Environment?
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Staff
Planning Business Structure Policies Processes |
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Why start a business?
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Desire for independence, Profit, Meeting a markets needs.
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What is a Trust?
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The Trust will take care of the persons possessions.
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How do you determine whether the business a small, medium or large business.
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Small - 1>20 people
Medium - 21>200 people Large - 201<above people |
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What are business ethics about?
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Business ethics is about how you treat your employee's, the environment and your customers.
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