Unit 2 Influences and the Law Flashcards
Describe the difference between people who are entitled to the National Minimum Wage and people who are entitled to the National Living Wage.
Being entitled to the National Minimum Wage is for workers aged 24 and under but of school leaving age. However, workers ages 25 and over have to be paid the National Living Wage.
Describe what the Equality Act 2010 states about recruitment in a business?
Recruitment procedures must not discriminate against anyone because of, for example, their religion, gender, race, age, sexual orientation or because of disabilities.
How might a business be affected if it fails to obey the Equality Act 2010?
They will have to pay a compensation fee.
State two possible consequences to a business failing to follow the health and safety at work act 1974.
They could be prosecuted, fined and even closed down. They may even have to pay compensation to anyone who is injured, and could get bad publicity.
State three criteria that goods should meet in order to follow consumer law.
The product should be fit for its purpose.
The product should match its description.
The product should be of satisfactory quality.
Explain why breaking consumer law can be expensive for a business.
Because they have to refund the customer or repair or replace their item. The case could end up in court. Their reputation may be harmed so they could lose costs.
How can businesses use social media to communicate with customers?
They can see how customers rate the business or what can be improved.
State three ways a business can communicate digitally with its stakeholders.
Email
Mobile Apps
Live chats
State three ways a firm could make sure it is working ethically.
Carry out product development.
Treat customers correctly.
Buy materials etc.. from fairtrade.
List reasons why working ethically might reduce a firm’s profits.
The labour costs are fairly high. Ethically used materials harder to find so more expensive. In result, firm doesn;t make much profit.
State two ways a business could reduce damage it causes to the local environment.
Reducing the amount of packaging on their products.
Dispose hazardous waste carefully.
Buy more efficient machinery to reduce air pollution.
What does it mean if a business is trying to become more sustainable?
Being sustainable means working in a way that doesn’t damage the Earth for for future generations.
Explain one way a business can reduce its impact on global warming.
A business can reduce its impact on global warming by becoming more sustainable, to do this they could use more renewable energy sources such as, wind and solar power, vehicles and machinery that produce less carbon dioxide and electrical goods that are more energy efficient.
State two negative impacts that high levels of unemployment can have on a business.
The economy as a whole produces less output than if everyone was employed.
If a business employs someone who hasn’t been employed for a long time they could of lost skills.
What happens to to customer spending when interest rates fall.
Customers usually spend more because it is cheaper to borrow money.
