6 - External Influences Flashcards

Understand the external influences and constraints on businesses and how businesses could respond

1
Q

What is the partnership Act?

A

Governs the rights and duties of people

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2
Q

6.1 As an employer, how can you act ethically?

A

Not exploiting workforce, no child labour, pay above minimum wage, living wage, fair working practices.

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3
Q

6.1 As a trader, how can you act ethically?

A
  • Fair trade

- Fair prices

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4
Q

6.1 As a business, how can they be environmentally friendly?

A

Recycle, reduce carbon emissions, manage waste, cut down on transport miles and energy used.

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5
Q

If an individual falls over and injures themselves at work, what act would cover this?

A

The Health And Safety At Work Act

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6
Q

What is the equality act

A

A law which protects you from discrimination and unfair treatment

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7
Q

What year was the Companies Act set up?

A

2006

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8
Q

What is the purpose of the Companies Act?

A

Provide for the formation, operation and accountability of non-profit companies in a manner designed to promote, support and enhance the capacity of such companies to perform their functions.

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9
Q

What are the main factors of Employee Protection?

A

Health And Safety At Work Act, Equality Act, Working Time Directive, National Minimum Wage Act

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10
Q

What is the Working Time Directive?

A

Setting minimum requirement for working hours, rest periods and annual leave

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11
Q

6.1 What are the advantages of businesses not working ethically?

A
  • They will be able to maximise profits

- They will be able to get more material and products, as they won’t have to find an ethical supplier

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12
Q

6.1 What are the disadvantages of a business not working ethically?

A
  • Customers won’t want to shop at that business

- Profits might decrease

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13
Q

6.1 What are the advantages of a business acting ethically?

A
  • Higher revenues – Demand from positive consumer support
  • Improved brand image
  • Business awareness and recognition
  • Better employee motivation and recruitment
  • New sources of finance – e.g. from ethical investors
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14
Q

6.1 What are the disadvantages of a business acting ethically?

A
  • Higher costs – e.g. sourcing from Fairtrade suppliers rather than lowest price, training & communication of ethical policy
  • A danger of building up false expectations
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15
Q

6.1 Some businesses organise corporate social responsibility (CSR) activities, give examples

A
  • Charitable donations
  • Humanitarian aid
  • Health and welfare schemes
  • Sponsorship of sport/educational/cultural events
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16
Q

What is the national minimum wage act?

A

A wage which is payed to employees at the lowest amount