Gcse Bussines 1.5

Question 1

What is consumer law?

Answer 1

Makes sure consumers are treated fairly, products sold fairly, and good enough quality .

Question 2

What is the consumer rights act?

Answer 2

States product must be good quality and fit for purpose (does job it’s designed for)

If it does not have a good quality then they have a right to replace/ repair or refund.( must be well made so it doesn’t cause other problems

• product match its description (illegal to make false description. I includes raw materials and size of product, not false e dieses by someone who didn’t say so

Question 3

What is a stakeholder?

Answer 3

Anyone who has an interest in the bussines

Question 4

What are internal stake holders and who are they affected by business activity

Answer 4

Internal stake holders are individuals directly involved in business operations

Include
•workers
• employees
• managers
• directors

Question 5

What are external stakeholders and how are they effected by business activity

Answer 5

Individuals outside business that are affected by business activities .

Include
• community
• government
• customer
• suppliers
• lenders

Question 6

What is a trade union?

Answer 6

A group of employees that work together to protect/ improve working conditions. By pushing for higher pay and less work hours

Question 7

What is employment legislation?

Answer 7

Laws to protect workers rights presented in an employment contract

Question 8

What is an employment contract

Answer 8

Signed by business and workers to protect each other. Which come with consequences if terms are broken(dismissed from job/pay compensation)

Pay minimum wage, rate increase, increase costS, lead to an increase in product costs. To remain profits levels

Question 9

What is unfair dismissal?

Answer 9

Employer dismisses employee from job without a legal reason to do so.

Question 10

What is the equality act of 2010

Answer 10

Employees protected from discrimination
(Being treated differently or unfairly at work) if they do, they pay compensation.

Potentially from their race, age, sex, disability, religion, sexual orientation, pregnancy.

Example: recruitment should not be discriminative.

Question 11

What is the equality commission?

Answer 11

A public body that investigates allegations for discrimination.

Encourage equal opportunities to employers.

Question 12

How has technology impacted a bussines?[5fcts]

Answer 12

-affects online sales(e-commerce)

-use of social media(

-communication

-paying for goods

-business operations

Question 13

What are the benafits and limitations of e-commerce?

Answer 13

Business are less likely to rent shops— less costs to run websites-cheaper option . Wider markets. Convenient for consumers

-although security is limited, aswelll as expertise required to create a website. (IT specialists) Online payments may be difficult

Question 14

How ca a business use social media?

Answer 14

• easy method to share info: updates, use it as main method of promoting and advertising so they can communicate directly to a customer(deal with feedback, questions can customer complaints)[customer service]

Question 15

Why do business use online communication?

Answer 15

-quicker
-cheaper
-easier
To communicate with people around the world

Question 16

What is the electronic point of sale checkout? (EPOS)

Answer 16

Automates stock control.

Register payment. Checks how much stock is left, if there is not enough. It can flag the manager/orders stock required

Question 17

wat is the reason, Why do work
Places need to be safe in a bussines?

Answer 17

Health, safety legislation to ensure workplaces for employers are safe and prevent risks

• they must provide safe work environment
• they must provide training to perform task(equipment)
  -they must provide necessary protective clothing

Question 18

What are the consequences of good healthy and safety practices?

Answer 18

This will increase profit from less liability and attracting best workers, retain them longer and more productivity

-Sever pe elites for failing employers safety( may damege bussines, less income)

Question 19

What is the health and safety at Work Act 1974 Suggest?

Answer 19

-duty to keep employees and colleges safe.
-Correct machinery and trainings

-activities don’t harm bussines

Question 20

What are the differentt stakeholders ideas of success?

Answer 20

Owners: make profit . If shareholders then high dividend and share price

Managers &employees: job security, promotional prospects, decent wage, good working conditions

Suppliers: profitability and growth

Local community: minimising environmental risks, ethical consideration, profit, growth.

Gov: job creation, profit

Customers: customer satisfaction

Pressure groups: minimise environmental impact, ethical consideration.

Question 21

What give 3 examples of digital communication?

Answer 21

• websites: post blogs. Providing customer service, publish reports to shareholders

-mobile apps: communicate with customers, where stores are and products company sells(special offers)

-video calls: employees that work for the same business in diferente locations don’t have to travel for meetings

Question 22

How does technology change business operations?(6)

Answer 22

-made business adapt to stay competitive

-replace people to carry tasks out, reduce costs

-train staff to use tech/ hire new staff. Which is expensive

• increase sales. E-commerce reach bigger market

-change pricing strategies/promotion to be more competitive

Question 23

How has technology made it easier for us to purchase products?

Answer 23

Introduced
-online payments(don’t have to enter card details on every website

-chip and pin: enter unique pin into terminal. Is Safer

-contactless payments: pay holding onto credit/debit card at a terminal

(This encourages customers to shop with firm. Faster payments= more customers)

Question 24

Why do working environments need to be safe?

Answer 24

• so fewer accidents can happen to employees. Hence increase productivity, from there being less time of work(expensive). Monitored by carrying out risk assessment

-if not followed then they will be prosecuted/fined/close down

Question 25

How does the national minimum wage affect a business?

Answer 25

-companies can not cut cost by paying employees less. If they do? Then company could get large fines and bad publicity. Ergo reduce customers.

-increase company’s costs— increased prices, and reduced income. This may be too expensive. So a bussines will have to make staff redundant.

-staff more motivated. Means increased productivity

Question 26

How does unemployment affect a business?

Answer 26

-some business can pay lower wages as unemployed Poeple are desperate.

-government may give grants to firms to provide jobs.

-less disposable income for customers. Cause a lack of demand for products(luxuries ). Sales fall

-business reduce pricing

Question 27

How does government tax affect a bussines,and a consumer?

Answer 27

-bussines pay tax on profit
[if increased, reduces reinvesting money. Lead to slow growth]
{make staff redundant to cut costs, or relocate abroad to pay less tax}
( if reduces, then opposite applies, but increase competition from abroad )

-consumers pay income tax
.[reduced income tax. Means more disposable income].
{Increase consumer purchases. Will rise from a revenue]
[ if rises, opposite applies}

Question 28

What 3 factors will be affected by inflation?

Answer 28

consumer spending
cost of labour (poeple push for higher wages)
global competitions

Question 29

What are the effects or cubism we rights act 2015 on a business?

Answer 29

• if it’s not followed, then there is more costs and inconvenience.
  -course cases if customers are not happy(more costs)
  -if broken can damage a brands red reputation. So decrease sales
  -they are more careful when selling products

-staff are trained properly to sell accurate products, and to understand what consumer rights are