Regulations & Legal
These laws govern the relationship between employers and employees; failure to follow them can lead to unfair dismissal claims and workplace disputes.
Employment laws
This is the price paid for borrowed money, expressed as a percentage.
Interest rate
Websites can provide consistent information about prices, sales and policies for customers. This is an advantage of what?
Having a business website
Rival businesses located in different countries that sell similar products are known as what?
Overseas competitors
Customers can order products online and pick them up in-store. This convenience is known as what?
Click and collect
This set of laws aims to preserve the environment; breaking them can result in significant fines.
Environmental legislation
When interest rates are low, what happens to loans for businesses?
Loans become cheaper and easier to repay
Technology allows businesses to easily connect, listen and respond to customers, improving what?
Customer satisfaction
Markets located in another country where a business may sell its goods and services are called what?
Overseas markets
Offering customers several methods to pay, such as credit cards and PayPal, provides what type of convenience?
Multiple payment options
Rules specific to businesses within a certain industry, like food safety laws; noncompliance can lead to closure.
Industry regulations
This percentage of income or spending must be paid to the government by individuals or businesses.
Tax rate
High _____ and _____ costs are a disadvantage of technology.
Setup and maintenance
Moving services or processes overseas to take advantage of cheaper labour is an example of what?
Offshoring labour
Organisations formed to represent employees and advocate for their wages and working conditions are called what?
Unions
Local government rules for businesses operating in a specific area; owners must know them to avoid legal issues.
Council regulations
These conditions relate to the productive performance and financial stability of a nation or area.
Economic conditions
Continuously replacing employees with technology may damage a business's reputation by increasing _____ and reducing its contribution to the local economy.
Unemployment
The value of one currency compared to another is known as what?
Exchange rates
Organisations that provide support and advice to businesses, helping them navigate industry challenges and opportunities, are known as what?
Business associations
Before operating legally, businesses must meet these laws and rules related to tax.
Taxation requirements
When interest rates are high, what happens to the cost of borrowing for businesses?
Businesses pay more for borrowed money
This concept refers to a business's ethical conduct beyond legal obligations, considering social, economic and environmental impacts.
Corporate social responsibility (CSR)
Buying and selling goods and services via the internet is known as what?
Online sales
Groups that promote environmental protection and influence businesses, government and the public are called what?
Environmental lobby groups