Practice Sac Flashcards
Distinguish between Macro and Operating Environments
The business operating environment refers to factors that have a direct relationship with it whereas the macro operating environment refers to factors that can also impact on the business, but do not have a direct relationship with it.
Explain the importance of the supply chain in the planning stage for a business.
The supply change refers to where the business gets is goods and/or services that it needs to
operate. It is important that the business gets the right items, when it needs them at a fair cost
otherwise it will not meet its customer expectations and therefore will fail to make sales and then
has a higher chance of failure.
Discuss one planned strategy that XZ Bank is planning to use to ensure that its product is superior
to those of its competitors.
- Introduction of Business
- Advantage (usually profit - meeting customer needs)
- Disadvantage (employees unhappy - loss of staff - increased wages)
Explain a government regulation that XZ Bank would need to consider when planning to open
bank branches on the weekends.
An award is a document that sets out the pay and conditions that staff work under and is approved by the Fair Work Commission.
Identify a special interest group that could be impacted by XZ Banks proposal to open Bank
branches on the weekends for customers. In your response explain who the group is, their
relationship to XZ Bank and their issue of concern.
Unions are a group that support the rights of their members in regards to pay and working conditions.
Discuss Corporate Social Responsibility as an issue for XZ Bank as it plans to provide weekend
banking for its customers.
Corporate Social Responsibility is about operating in a way that does not have an
adverse impact on its employees, the environment, the community and its customers.
- Advantage / Disadvantage
