miss chambers 24th march Flashcards
STEEPLE.COM
Social factors, Technological factors, Economic factors, Environmental factors, Political factors, Legal factors, Ethical factors and Competitor factors
Companies Act
how companies must operate
Consumer Rights Act
This replaced the Sale and Supply of Goods and Services Act
All products supplied must be of satisfactory quality, fit for purpose and as described.
If not, the customer is entitled to a full refund
Consumer protection act
All products supplied must be safe
equality act
No discrimination based on race, gender, age or disability.
It affects recruitment, training, dismissal and the day-today management of employees
Health and Safety at Work Act
Employers must, ensure that the workplace is safe and healthy for employees, customers, visitors and the general public.
Employees are expected to take reasonable care at work.
Working Time Directive
Employers cannot force employees to work, on average, more than 48 hours per week.
National Minimum Wage Act
It is against the law for employers to pay their employees less than this hourly rate
Data Protection Act
This law provides a list of requirements where businesses keep personal data about people such as employees and customers
Copyright, Designs and Patents Act
This law protects the designers and creators of original pieces of work
planning permission
This is when businesses need to apply to local councils before altering their premises.
ethical
doing what is morally right; acting beyond what the law requires towards stakeholders and the environment
Ways in which a business can behave ethically
As an employer
Not exploiting the workforce, no child labour, pay above the minimum wage and living wage and fair working practices
As a trader
Fair trade suppliers and fair prices to customers
Environmentally friendly
Waste management, recycling, low carbon emissions, transport miles and energy use
Sustainability
Use of fossil fuels, land management and green energy
Corporate social responsibility activities
Charitable donations, humanitarian aid, health and welfare schemes, sponsorship of sports, educational and cultural events
COMPETITOR FACTORS
The strength of the competition
Their size, brand image and level of profits
The market share of the business and of its competitors
Their level of sales as a percentage of total sales in the market
Competitor behaviour
Products offered, prices charged, advertising and other promotional behaviour
The position of the business in its market
Whether they are competing on price or quality and range of products
