Covers all stages in the process of employing staff, from initial planning through recruitment, selection, induction, training and development, performance management, and eventual separation of employment.
What is Human Resources?
100
Factors over which the business has very little control.
What is external environment?
100
A broad-based tax of 10 per cent of the supply of most goods and services consumed in Australia.
What is GST (Goods and Services Tax)?
100
Factors over which the business has some degree of control.
What is internal environment?
100
The activities needed to assist the core operations or prime function of a business.
What is Support Services?
200
Funds the business uses to meet its obligations to various creditors.
What is Financial Resources?
200
Complete concentration by one firm in the industry e.g Australia Post
What is Monopoly?
200
The surrounding conditions in which the business operates. It can be divided into two broad categories; internal and external.
What is business environment?
200
The process that sees people, goods, money and ideas moving around the world faster and more cheaply that before.
What is globalisation?
200
The number of competitors in a particular market. There are four main types of market concentration.
What is market concentration?
300
The knowledge and data required by the business, such as market research, sales reports, economic forecasts, technical material and legal advice.
What is Information Resources?
300
Periods of growth and recession that occur as a result of fluctuations in the general level of economic activity.
What is economic cycles?
300
Where there is a large number of small firms that sell similar products. They are unable to differentiate products from from each other and so can only use price as a way of achieving market share. e.g fruit and vegetable growers
What is Perfect Competition?
300
The ability of a business to develop strategies that will ensure it has an 'edge' over its competitors for a long period of time.
What is sustainable competitive advantage?
300
Where there are a large number of buyers and sellers in a particular market e.g local retailing shops
What is Monopolistic Competition?
400
Any group or individual who has an interest in or is affected by the activities of a business.
What is a Stakeholder?
400
Where a small number of larger firms have a greater control over a market e.g car manufacturers
What is Oligopoly?
400
Resources including equipment, machinery, buildings and raw materials.
What is Physical Resources?
400
The removal of government regulation from industry, with the aim of increasing efficiency and improving competition.
What is deregulation?
400
When economic growth meets the nerds of the present population without endangering the ability of future generations to meet their needs.
What is Ecological Sustainability?
500
The values, ideas, expectations and beliefs shared by members of the organisation.
What is Business/Corporate Culture?
500
A business that sells similar range of goods and services.