Law and Policy
A written statement that sets out how a business and its staff should act in a particular area.
Policy
This government agency collects tax from Australian businesses.
ATO
The group of customers a business aims its products at.
Target market
An employee with no guaranteed hours who gets a pay loading instead of paid leave.
Casual employee
CSR stands for this?
Corporate Social Responsibility
This Commonwealth Act makes misleading or deceptive conduct by a business illegal.
Competition and Consumer Act 2010
This tax adds 10% to the price of most goods and services.
GST
Research a business collects first-hand, such as its own customer survey.
Primary research
The maximum ordinary weekly hours for a full-time employee under the NES.
38 hours
Business people want to work for because it offers fair pay, respectful management and chances to develop.
Employer of choice
Labelling a pie “100% Australian beef” when it contains imported beef.
False or misleading claim
Tax an employer takes out of employee wages and sends to the ATO.
PAYG
A narrowly defined segment with specific needs, sometimes called a “micro-market” within a larger segment.
Niche market.
The process of welcoming a new employee and introducing them to the business.
Induction
Flexible working hours, paid family leave and on-site childcare help employees achieve this.
Work-life balance
This independent government body enforces the Competition and Consumer Act.
ACCC
Accountants, bookkeepers and lawyers hired from outside the business for specialist financial or legal advice.
External professionals
Businesses use demographic, geographic, psychographic and behavioural bases to do this.
Market segmentation
Filling a job by promoting someone who already works in the business.
Internal recruitment
Giving employees a voice in decision-making, also known as empowerment.
Industrial democracy
This part of the Competition and Consumer Act 2010 sets out consumer guarantees and bans misleading or deceptive conduct.
Australian Consumer Law
This accounting principle says a business’s finances must be kept separate from the owner’s personal finances.
Separate legal entity principle
The seven elements of the 7p's of markiting.
Product, Price, Promotion, Place, People, Process and Physical evidence
The minimum employment entitlements set out in the Fair Work Act 2009.
National Employment Standards (NES)
Moving operations overseas to cut costs, as Telstra and ANZ did when they set up call centres in the Philippines.
Offshoring