Chapters 7 And 10

Question 1

How does a business register?

Answer 1

A business will register their name on ASIC!

Question 2

What is zoning in government by-laws?

Answer 2

Zoning includes where a person can place their homes business etc. types of zoning are light and heavy industrial, commercial and retail.

Question 3

What is OHS and give examples of what it includes!

Answer 3

All businesses are assured to have OHS policy from within all the business. To have a safe workplace! E.g safe workplace, to enviable staff in the development, to communicate all ohs policies.

Question 4

What is superannuation and workers compensation?

Answer 4

Since 1992 all employers must pay super. 9% of income, purpose is to give funds the the employee for when they are retired!

Means insurance for when a employee is injured, provides them with income!

Question 5

What is employee regulations and give examples!

Answer 5

Employee regulations is I forced by state and fed, it covers disputes/ minimum wages (awards) fair work Aus covers this!

Question 6

Define enterprise bargaining!

Answer 6

Employee and employer bargain over a wage to be set!

Question 7

What are the three main legislations?

Answer 7

Anti discrimination laws
Sexual harrasmant laws
Affirmative action laws- to improve the advancement of jobs for women and aboriginals. Helps break the glass ceiling

Question 8

How are environmental laws placed?

Answer 8

They are enforced to protect the environment, to help with the discharge of toxic and waste management including noice ( environmental protection authorities)

Question 9

Consumer protection laws?

Answer 9

Consumers shall not receive dodgy product, the goods advertised must be the same. A SBO must be aware of the weights/measures, packaging requirement and labelling!

Question 10

What is an insurance policy and give examples?

Answer 10

Insurance policy is a legal contract to give financial protection, it works by the client paying a insurance broker to cover them!

1- workers compensation
2- motor vehicle third party (passengers)

Question 11

Codes of practice?

Answer 11

The action for a business to have regulated standards of behaviour, if not they can loose their licence!

Question 12

Human/physical needs of a business?

Workforce planning? And

Answer 12

This involves a cycle of purchasing equipment, leasing, maintaining relationships, and replacement of resources (inputes used in production)

It’s ongoing- buy delivery van, service, buy petrol, replace

Workforce planning- to get a supy of worker, keep relationship, and keep them motivated!

Question 13

What is the need for business finance?

Answer 13

Business failure is due to a lack of business planning!

Businesses have to consider factors when deciding between alternate sources of finance!
What’s the purpose of finance, amount, time period?

Question 14

What are the three types of business finance?

Answer 14

Short term- 1-3 years, must be under 2000
Bank overdraft- if u go below 0 u can still get money but up to 20,000

Medium- 3-10 term loan

Long term- 10+ term loan

Question 15

Planning a marketing strategy?

Answer 15

Includes how costers will be drawn into the business + how they will be maintained,

Must include ( objectives, market range, demand, why they will buy)

Question 16

Marketing research?

Answer 16

Gathering of info on your market, can be done by 
Discussion 
Employing market research company
Internet
Industry association 

The act of this is to define the products, target market and competition!

Question 17

Define corporate citizenship? And examples of what they have to oblige to do?

Answer 17

A small business are obliged to follow their own set of rules, the concept of corporate citizenship means the ability to go with the rules. E.g. Social responsibility, legal, ethical. Failure to do these results in legal prosecution or for sable closure.

Question 18

What is job analysis?

And what is job description?

Answer 18

The process of gathering info relating to a job being performed! Draw up a list of essential and desirable skills

At statement of duties, working conditions and other requirements.

Question 19

What are 2 ways of recruiting staff?

Answer 19

Two ways of recruiting your business is through advertisement and word of mouth

Question 20

What is the difference between recruitment and methods of selecting staff!

Answer 20

Recruitment: throwing a net and gettingn a range of people

Methods: choosing the most suitable staff

Question 21

Stages of selecting staff!

Answer 21

1: shortlist of applicants
2: interview
3: perform background checks
4: the job offer

Question 22

What questions are you not allowed to ask in an interview?

Answer 22

Not allowed to ask any questions relating to the sex, marital, race or religion. As they are not deemed relevant!

Question 23

What is te difference between a full time position and a casual??

Answer 23

Casual position mean the employee gets no entitlements! They do revive higher pay and there is little job sequiturs!

Full time position means the employee works 38 hours and above! They will receive entitlements which include holiday leave, super, sick leave, long service!

Question 24

What is the process of induction of staff!

Answer 24

The process of introducing new workers to their new workplace, their role, colleagues plus the culture!

• mentor buddy system
• on the job training- training program

The main purpose of this is so that the employee can get an understanding of the culture, history, ohs and dress code!

Question 25

What is the overview of relevant legislation?

Answer 25

That business owners plus management comply with legislation ( ohs, wages, super and equal opportunity)