AOS 1 - Legal obligations
Keeping business finances apart from personal finances as a ‘separate entity’.
What is Establishing a separate bank account?
The group of consumers who repeatedly purchase goods or services of a business and are the main source of revenue for a business.
What is a Customer Base?
Mass communication that informs buyers about a product.
What is Advertising?
Human Resource Managers are also responsible for ensuring that the right combination of knowledge, skills and ______ .
What are Ideas?
One unlawful reason to disadvantage employees.
What is (one of) race, colour, gender, sexual preference, age, physical or mental disability, marital status, pregnancy, religion, political opinion, or social origin.
Legal, Governments, Finance, Insurance, Sales & marketing, IT & technology, Recruitment.
What are External Professionals?
Factors outside of the business, with whom the business interacts and has influence.
What are Operating Factors?
Pricing strategy whereby the price is set in accordance with the value consumers place on the product.
What is Psychological Pricing?
Employees set objectives relevant to their area of responsibility and their performance to measure against the business’s performance.
What is Management by Objectives (MBO)?
The process of introducing new workers to their place of work, their job role, their colleagues, supervisors, management and corporate culture.
What is an Induction?
Collection of contact information, details about past purchases and future needs.
What is a Customer Database?
The peak level of sales and success during a product’s life cycle.
What is Maturity?
Starts with P, but isn't one of the 7 P's.
What is Packaging?
Assessing and selecting candidates, other than existing staff at a business who would be qualified and appropriate to perform a vacant role.
What is External Recruitment?
Conditions of employment, Job security and Work-life balance.
What are Employee Expectations?
A written statement of the processes, procedures, rules andregulations that should be followed in a given situation.
What is a Policy?
Sponsorships and Open Days.
What are Planned Public Relations strategies?
A manufacturer sells their product to a wholesaler and/or retailer who then sells to a customer.
What is Indirect Distribution.
The systematic process of looking at a particular job to find out exactly what it entails, and what kind of skills and experience people should have to do the job effectively
What is Job Analysis?
The period of notice required to be given to an employer when an employee decides to resign from a business.
What are Terms of Notice?
Protects businesses in case any external stakeholder gets injured on the business property or as a result of the business’s operations.
What is Public Liability insurance?
Segmentation that divides customers based on their actions, habits and brand or product interactions.
What are Behavioural segments?
A FULL listing of the 7 P's of Marketing.
What are:
Product, Price, Place, Promotion, People, Pysical evidence and Process
The process undertaken by an organisation to decide whether to make a job offer to a candidate.
What is Selection?
FIVE of the National Employment Standards
What are (any five of):
- Maximum weekly hours of work
- Requests for flexible working arrangements
- Offers and requests to convert from casual to permanent employment
- Parental leave and related entitlements
- Annual leave
- Personal/carer’s leave, compassionate leave and unpaid family and domestic violence leave
- Community service leave
- Long service leave
- Public holidays
- Notice of termination and redundancy pay
- Fair Work Information Statement or Casual Employment Information Statement