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Business Management > AOS 2 > Flashcards

AOS 2 Flashcards

1
Q

Macro environment

A

no control; government laws, trends, economic conditions

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2
Q

operating environment

A

some control over; supplier, customers, competitors

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3
Q

laws relating to levels of government (federal)

A

paying taxes for employees & company paying GST and taxes

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4
Q

laws relating to levels of government (state)

A

abiding by state legislation and pollution controls

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5
Q

laws relating to levels of government (local)

A

fire and parking regulations

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6
Q

social attitudes

A

ideas, values and beliefs, held by people in a particular society

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7
Q

values and beliefs

A

the shared morals and principles of a group of people

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8
Q

beliefs

A

can be passed down from generation to generation

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9
Q

values

A

reflected in behaviour; what they prioritise or how they treat others

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10
Q

trends definition

A

when peoples attitudes or behaviours in a society are developing or changing

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11
Q

considering trends

A

consider demographics, family friendly workplaces, workplace diversity

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12
Q

economic conditions definition

A

a set of influences that relate to economic activity like interest rates, wages and unemployment.

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13
Q

growth, recession

A

boom, bust

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14
Q

interest rates definition

A

price paid for the use of money that has been borrowed or deposited

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15
Q

tax rates definition

A

the percentage of income which is paid as tax

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16
Q

business and consumer confidence levels definition

A

how businesses and consumers are feeling about the economy

17
Q

technological issues definition

A

issues relating to the growing use of tools, techniques or systems by businesses to serve a purpose

18
Q

technology

A

increases efficiency, productivity or innovation, may decrease employment levels, worse quality products

19
Q

overseas competitors

A

competing on a global scale, Australian trade commission

20
Q

offshoring labour

A

the relocation of a businesses services to overseas

consider labour, advantages of lower costs, also responsible for job loss

21
Q

exchange rates

A

one country’s currency expressed in terms of another country’s currency

interest rates, economic condition, balance of trade

22
Q

patent

A

rights granted for any device, substance, method or process that is new or inventive

23
Q

copyrights

A

free and automatic protection for original works like art or music

24
Q

trademarks

A

rights granted over a logo, word, phrase, etc, that a business will use to represent its products

25
Q

online sales

A

reach a wider market, long term costs are reduced

websites are costly

26
Q

corporate social responsibility

A

a businesses ability to go above and beyond its local obligations in relation to its social, environmental and economic impacts

27
Q

environmental considerations (CSR)

A

should not have a negative impact on the environment; sustainable ingredients, using ethical suppliers

28
Q

production of goods and services in a way that benefits society

A

should not negatively impact community health & social conditions, purchasing materials/ resources from local suppliers, be safe and reliable products

29
Q

customers definition

A

the people who purchase goods and services from a business

30
Q

customer considerations

A

high quality products, ethical suppliers, clean environments for customers to walk into

31
Q

competitors definition

A

other businesses or individuals who offer rival goods or services

32
Q

gaining competitive advantage

A

discounts, sales, change product prices, advertisements, improvements to products

33
Q

competitor considerations

A

gap in the market, strengths and weaknesses of competitors

34
Q

supply chain

A

the range of suppliers from which the business purchases its materials and resources

35
Q

suppliers

A

businesses or individuals that supply the materials and other resources to the business in order to conduct operations

36
Q

special interest groups

A

groups of people who attempt to influence a business to adopt particular policies

37
Q

environmental lobby groups

A

groups that promote environmental issues to the public, government and businesses

38
Q

business associations

A

organisations that support businesses through training, education programs, advice and information

39
Q

unions

A

organisations formed by employees to represent them in efforts to improve wages and working conditions

Business Management (2 decks)

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