AOS 1
A unique number used by businesses to identify themselves for tax purposes.
ABN
A specific group of consumers a business aims its products and marketing towards.
Target Market
The process of attracting and selecting suitable applicants for a job.
Recruitment
State the precise meaning of a term or concept.
Define
This company’s founder started by selling books out of his garage before expanding into “everything.”
Amazon
A legal document that registers a business’s trading name with the Australian Government.
Business name registration
A combination of strategies that include Product, Price, Place and Promotion.
Marketing mix or 7ps
The introduction and training provided to new employees so they can perform effectively.
Induction
Identify similarities and differences between two or more concepts.
Compare
This fast food chain once tried to sell bubblegum-flavoured broccoli.
McDonalds
Systems that track, monitor and manage a business’s financial performance to prevent fraud and ensure accuracy.
Financial Control System
The process of identifying, anticipating and satisfying customer needs profitably.
Marketing
A formal description outlining an employee’s duties, responsibilities and position within a business.
Job description
Identify similarities and differences between two or more concepts.
Compare
Who owns Boost Juice
Janine Ellis
A requirement that ensures a business follows laws and regulations to protect consumers, employees and the public.
Legal compliance
Marketing practices that reflect honesty, fairness and concern for society and the environment.
Green marketing or CSR in marketing
The processes a business uses to choose the most suitable candidate for a job from a pool of applicants. Selection methods can include interviews, psychological or aptitude testing, practical work tests, reference checks and online assessments.
Examine in detail to identify patterns, relationships, or connections between parts.
Analyse
This soft drink brand famously introduced a “clear” version of its cola in the 1990s that flopped.
Crystal Pepsi
The process of evaluating how legal, ethical and financial factors interact to affect a business’s ability to operate successfully and sustainably.
Business viability assessment
A comprehensive strategy that analyses customer behaviour, competitors and market trends to position a business competitively in its industry.
Marketing strategy or marketing plan
The strategic planning and management of the workforce — considering staffing needs, human resource planning, legal obligations (like the National Employment Standards), recruitment, selection, and alignment of staff performance with business objectives.
Human Resource Management
Explicitly state the difference between 2 or more concepts
Distinguish
This global company once ran a secret research lab called “Project X,” where employees developed innovations like delivery drones, smart contact lenses, and self-driving cars — even though most of the projects never reached market.