Management/Laws

Question 1

Law for:
-min wage
-paid leave
-compensation
-safe working environment
-no more than 38 hrs/wk

Answer 1

Fair Work Act 2009

Question 2

-secures health and safety of workers and workplaces

-minimizes risks, PPE

Answer 2

Work Health and Safety Act 2011

Question 3

-standards under fair work act

-set leave & holidays

Answer 3

national employment standards (NES)

Question 4

-employeers have to pay contributions on top of salary/wages

-1992 (OG)

-11.5%

Answer 4

Superannuation Guarantee

Question 5

-1992

-unlawful to discriminate employment, education, using services, housing or accessing public places due to disability

Answer 5

Disability Discrimination Act (DAA)

Question 6

no discrim bc of race, color, descent, national or ethnic origin or immigrant status
-1975

Answer 6

Racial Discrimination Act 1975

Question 7

-sexual orientation, gender, relationship status, preg/breastfeeding
-1984

Answer 7

sex discrimination act

Question 8

-protects older workers discrim/older abuse
-2004

Answer 8

Age discrimination act

Question 9

-1986
-established commission who:
human rights breaches, lobbies govt for new laws & provides reviews

Answer 9

Australian Human Rights Commission Act

Question 10

Planning, Organizing, Staff, Directing, Control/Eval

Answer 10

Management Functions

Question 11

Mgmt function that:
-plans
-policies
-procedures
-objectives
-SWOT analysis

Answer 11

Planning

Question 12

strengths, weaknesses, opportunities, threats

Answer 12

SWOT analysis

Question 13

necessary workforce to carry out prod of goods/services in specific timeframe

Answer 13

staffing production schedule

Question 14

of employees manager can effectively mg

Answer 14

span of control

Question 15

-financial statement

-snapshot of financial health at specific point in time

-measures operational effectiveness

Answer 15

Balance Sheet

Question 16

AR, inventory, property, equipment

Answer 16

Assets

Question 17

Loans & debts

Answer 17

liabilities

Question 18

value of what you own

Answer 18

Equity

Question 19

-accounting formula
-ALE

Answer 19

assets = liabilities + equity

Question 20

-forecasts future income, costs & profit

Answer 20

operating budget

Question 21

outlines long term expenditures

ex: buildings, machines, tech

Answer 21

capital budget

Question 22

doesn’t build on existing budget, starts from scratch

Answer 22

zero based budget

Question 23

-based on consistent revenue
-assumes no changes

Answer 23

fixed budget

Question 24

-can be adjusted based on varying revenues

Answer 24

flexible budget

Question 25

costs not affected by changes in sales/incomes

ex: rent, insurance

Answer 25

fixed costs

Question 26

-cost proportional to sales

ex: ingredients, food containers

Answer 26

variable costs

Question 27

costs that don’t directly contribute to product or service

Answer 27

indirect cost

Question 28

cost do directly contribute to product

Answer 28

direct costs

Question 29

expenses already incurred that can’t be recovered

ex: college degree

Answer 29

sunk costs

Question 30

power types assoc w employee satisfaction

Answer 30

expert & referent

Question 31

Plan, Do, Study, Act

-increase performance and cust sat

Answer 31

Total Quality Management

Question 32

quality improvement for process optimization
-looks for ways to eliminate errors

Answer 32

six sigma

Question 33

4 P’s of marketing mix

Answer 33

Product, Price, Promotion, Place