2. AOS 4 Flashcards
Customer Database:
Customer Database is a collection of information about existing and potential customers.
Overseas Suppliers:
Overseas suppliers are individuals or businesses that sell raw materials or resources in a country overseas.
Free Trade:
Free Trade is being able to buy and sell goods or services internationally with minimal government restrictions or rules.
Overseas Retailers:
Overseas retailers are individuals or businesses that sell goods and services directly to customers overseas.
Grievances:
Grievances are issues that may come up in a workplace and give rise to a formal complaint being made.
Procedures:
Procedures are a series of actions that employees must follow in order to abide by the business’s policies.
Policies:
Policies are written statements that outline the expected performance and behaviour of employees.
Inputs:
Inputs are the resources used by a business to produce goods and services.
Outputs:
Outputs are the final goods or services produced as a result of a business’s operations system, that are delivered or provided to customers.
Cost-Conscious Customers:
Cost-conscious customers purchase goods or services primarily based on price. If another business offered a cheaper alternative, these customers would be likely to switch immediately.
Corporate Social Responsibility (CSR):
Corporate Social Responsibility (CSR) is the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions.
Sustainability:
Sustainability involves making an effort to ensure natural resources are not permanently depleted or damaged by business activities.
Auditing:
Auditing involves assessing a business’s financial information to verify that it is true and accurate.
Record-keeping Strategies:
Record-keeping Strategies are methods used to keep track of the financial transactions of a business over a period of time.
- Cashbooks
Financial Control Systems:
Financial Control Systems are processes and procedures used to direct and monitor a business’s finances.
Bank Accounts:
Bank Accounts are an arrangement made with a bank where a business or individual can deposit and with draw money.
Business Tax Compliance:
Business Tax Compliance is the extent to which an individual or business meets tax obligations. (PAYG for employees, GST and business tax for businesses)
Trade Practices Legislation:
Trade Practices Legislation is the law that governs how a business interacts with customers and competitors.
Work safe Insurance:
Work safe Insurance is compulsory insurance that assists employers to meet their obligation of financially compensating and supporting employees who become injured or ill because of their work. (ensuring OH&S requirements are met)
Website Domains:
Website Domains are the website address that identifies a business’s online site.
Business Names:
Business Names are the title that a business operates under and what customers use to identify the business.
Marketing Advisors:
Marketing advisors are professionals who provide expert advice to businesses in relation to promoting and selling their products.
Legal Advisors:
Legal advisors are professionals who provide expert advise to businesses regarding their legal responsibilities.
Information and Communications Technology (ICT) Specialists:
Information and Communications Technology (ICT) specialists are a professional who develops and maintains the technological systems that are used by businesses to store and retrieve data.
Financial Advisors:
Financial advisors are a professional who provides expert advice to individuals and businesses in relation to monetary matters, personal finances, and potential investments.
Accountants
Accountants are professionals who manage, update, analyse, and report a business’s financial information.
External Professionals:
External professionals are highly-skilled individuals that businesses hire to provide expertise in a particular area of operation.
- Accountants
- Financial Advisors
- Information and Communications Technology (ICT) Specialists
- Legal Advisors
- Marketing Advisors
