SBA Prep 2025 Flashcards
challenges of the micro environment
- Difficult employees
- Lack of vision and mission
- Lack of adequate management
- Impact of unions
- Strikes and go - slows
- Skills shortage amoung employees
- Employee absenteeism
Market environment challenges
- Competition
- Shortage of supplies
- Chang in consumer taste and habits
- Demographics and pyschographis
- Social cultural factors
Macro environment challenges
- Change in income levels
- Political changes
- Contemporary legislation
- Labour restrictions
- Micro lending
- Globalisation
- Social values and demographics
- socio - economic issues
Strategies that businesses can use to adapt to challenges
- Integration - merging with other businesses
- Intensive - increasing sales
- Diversification - adding related or unrelated products to the current product line
- Defensive - Last resort tactic
Networking
Co-ordinated activity where people who have similar objective meet and exchange information and ldeas
Benefits
- Attract new customers resulting in increased market share and profitabilty
- plays a role in the making and expansion
- Gain support hen representations to various authorities is planned
- Assits businesses in making future business decisions
Solutions to piracy
Patent
* A license giving sole right to exclude others from from making , using or selling an invention
Trademark
* Businesses can use trademarks to identify themselves and thier products
Copyright
* Businesses can sue someone who infriges the copyright
Negative impacts of strikes
- Strike have a potential destroying a relationship between the employees and employers
- can affect teamwork in the workplace
- Businesses can suffeer fianacial losses due to low levels of productivity
lobbying and types of lobbying
Process of trying to influence legislation or parliamentary decision making
- Hedgeing against inflation
- Bargaining session between management and unions
- Influencing supervisory body regulators
What is the purpose of the Labour Relations Act?
Provides a framework for labour relations between employers and employees.
What does the Labour Relations Act promote at the workplace?
Promotes collective bargaining at the workplace.
What institutions does the Labour Relations Act establish?
Establishes Labour Courts, Labour Appeal Courts and CCMA.
What does the Labour Relations Act promote regarding trade unions?
Promotes simple procedures for the registration of trade unions.
What type of practices does the Labour Relations Act promote?
Promotes fair labour practices between employers and employees.
