TERM 1 Topic 1.1 - Macro Environment (Recent Legislation) Flashcards
A …………….. is a group of workers who have been elected to represent the workforce in negotiations with management.
workplace forum
An …………………………….. is a group that protects the rights of employers and regulates conditions such as wages across the industry.
employers’ organisation
When employeees get together and negotiate terms about their jobs with their employers, it’s called ………………………
collective bargaining
A ………… is formed by workers in various businesses to protect their interests when it comes to WAGE negotiations and WORKING CONDITIONS.
trade union
What is the NSDS
National Skills Development Strategy
What is the HRDS
Human Resources Development Strategy
What is the aim of the NSDS
- improves skills of the labour force
- ongoing skills development
- ensures quality training
- aims to reduce poverty/unemployment
What is the aim of the HRDS
- all children to receive good childhood
development - all youth to remain in school until 18 yrs
old - all adults must be literate
- 1st time workers should have access to
training and education
List any 4 ACTS that affect business
- Labour Relations Act (LRS)
- Employment Equity Act (EEA)
- National Credit Act (NCA)
- Basic Conditions of Employment Act
(BCEA) - Broad Based Black Economic
Empowerment (BBBEE) - Consumer Protection Act (CPA)
What does BBBEE stand for?
Broad-Based
Black
Economic
Empowerment
List the 7 pillars of BBBEE
1) Equity ownership
2) Management
3) Employment Equity
4) Skills development
5) Preferential procurement
6) Enterprise development
7) Socio-Economic development
Which ACT protects consumers who buy on credit?
NCA - National Credit Act
What is the nature and PURPOSE of NCA?
1) Provides rights to consumers when buying on credit
2) Prevents credit providers (For example:
FNB, ABSA, STANDARD BANK) from exploiting consumers
What are the ADVANTAGES of NCA?
- consumers are more informed
- credit agreements must be in easy to understand text
- credit providers may not share personal details
- interest rates are capped
- reduce reckless spending
- reduce repossession, because people cannot pay instalments
What are the DISADVANTAGES of NCA?
- Harder to get home loans or buy on credit
- lots of paperwork
- reduces sales for businesses
In terms of NCA, what are the RIGHTS of consumers?
Consumers have the right to credit, if all conditions are met. They must also be told why their applications have not been successful, if they are turned down.
In terms of NCA, what are the RIGHTS of businesses?
Businesses have the right to turn down a credit application, if they feel the person is not able to repay the loan (not affordable)
In terms of NCA, explain penalties for non-compliance
Credit providers can be fined and prosecuted if they are not registered with the NCR.
In terms of NCA, how does it influence previous discriminatory actions?
Credit cannot be refused based on
race,
gender or
disability
