Unit 6
China and the United States are imposing taxes on goods imported from each other's countries. This tax is also known as a __________.
Tariff
The need to have a healthy balance between our desires to participate fully in the labour market while giving the best of ourselves to our loved ones is known as _________________.
Work-life balance
A set of written and unwritten codes of principles and values that govern decisions and actions within a company is known as _______________.
Business ethics
PEST stands for ______________________.
Political, Economic, Social and Technological factors
Inadequate bookkeeping and limited capital are two features of ___________________.
small and medium enterprises
Increased use of non-renewable resources, pollution and global warming are considered __________ of globalisation.
Social activities for singles is considered an ________________.
Employee Support Scheme
CSR stands for _____________________.
Corporate Social Responsibility
Name a role that the government plays under the political factor.
Entrepreneur/Planner/Legislator/Promoter
acquisition
One factor for firms to trade and invest overseas is the falling domestic demand due to falling birth rate, increasing competition among rival firms and novelty of a firm's products in an overseas market. What factor is this?
Market Factor
Name one benefit of a successful work-life strategy.
Increased productivity/Improved recruitment and retention/lower absenteeism rates/Improved customer experience/more motivated and satisfied workforce.
Name one advantage of CSR.
Create shareholder value/strategic branding/operations efficiency/better access to capital/human and intellectual capital
Name one characteristic of the social environment.
Characteristics of population/Cultural influences and changing trends
Freedom from regulations and increased specialisation of management skills are advantages of a ____________________.
partnership
When a firm partners more than two foreign firms to jointly produce and market manufactured goods/services, it is called a __________
Consortium
Name one example of a family friendly infrastructure.
Work-life plan/Family friendly culture
Name one type of responsibility that can be included as the CSR of an organisation.
Economic/Legal/Social
Name one area of how changes in technology have an impact on business operations.
New methods of processing/shorter product life cycle
Government-linked companies are also known as __________ sector organisations.
public
An organisation set up to formulate rules to govern global trade and capital flows among member countries is the ______________________.
World Trade Organisation (WTO)
Compressed work week is an example of ___________.
Flexible work arrangements
When an organisation puts in place policies on environmental management and contamination control, they are practicing _____________ responsibility.
Social
When the exchange rate for USD 1 = SGD2.5, it will cost ______ to import goods from the United States to Singapore.
more
Higher taxation is one of the disadvantages of an ___________________.
incorporated company