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gcse business > external influences > Flashcards

external influences Flashcards

1
Q

buying materials online - advantages

A
  • order 24/7
  • no travelling - save costs
  • wider choice
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2
Q

buying materials online - disadvantages

A
  • misleading images
  • delivery delays
  • fraud possibility
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3
Q

customer data benefits

A
  • more effective data handling
  • mailing merge
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4
Q

business environmental costs

A
  • pollution - NAWL
  • congestion
  • climate change
  • finite resources
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5
Q

sustainability

A

carrying out business activities without damaging the environment

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6
Q

sustainable production examples

A
  • biodegradable packaging
  • promote recycle schemes
  • use renewable packaging
  • fair trade
  • minimise waste
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7
Q

environmental policies - advantage

A
  • reduce costs
  • avoid legal penalties
  • good rep
  • ethical customer loyalty
  • employee motivation
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8
Q

environmental policies - disadvantages

A
  • costs - resources more expensive
  • employee training - increase costs
  • material issues - finding alternatives
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9
Q

international trade - advantages

A
  • bigger market - more sales
  • economies of scale
  • wider customer range - downturn in one market
  • exchange rate - rise in GBP value
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10
Q

international trade - disadvantages

A
  • transport issues => costs, strikes - restrict distribution
  • lang barriers => translation costs eg. magazines
  • different laws => eg. environmental laws
  • foreign markets - demands
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11
Q

globalisation

A

the increased interdependency of people around the world
- result of increased trade and cultural exchange
- led to increased production of goods and services worldwide

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12
Q

globalisation opportunities

A
  • wider recognition
  • wider employee choice - diff skills & knowledge
  • wider customer choice
  • investment opportunities
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13
Q

globalisation threats

A
  • more competition
  • lose employees to competitors => think another countries conditions are better
  • exchange rates - may rise when importing - decrease profit
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14
Q

globalisation customer advantages

A
  • more choice
  • lower prices
  • better service - better workers
  • mass production
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15
Q

globalisation customer disadvantages

A
  • different qualities
  • exchange rates - pay higher price
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16
Q

employment law

A

laws protecting the rights of employees

17
Q

legal responsibilities to its workers

A
  • health and safety
  • don’t work over working hours
  • equality laws
  • minimum wage
18
Q

contract of employment

A

legal document stating:
- rates of pay
- working hours
- holiday lengths

19
Q

minimum wage

A
  • a minimum hourly pay rate set by gov => all employees must receive this pay => diff for diff ages
  • adv - inc pay=> inc motivation=> inc productivity
  • disadv - inc labour costs=> dec profit
  • ignore - fines=> bad rep=> low sales
20
Q

equality act

A
  • employees can’t be treated differently based off: age, disability, gender, belief, race etc.
  • adv - diverse workplace=> good rep
  • disadv - training=> more costs
  • ignore - discrimination compensation=> bad rep
21
Q

health and safety act

A
  • employees health, safety and welfare must be safeguarded eg. installation of machines, protection against danger substances.
  • adv - lower absenteeism=> inc productivity
  • disadv - training=> inc costs
  • ignore - prosecution=> bad rep
22
Q

unfair dismissal

A
  • when employer ends employees contract:
    => job doesn’t exist
    => can’t do job properly
    => long-term illness
23
Q

consumer laws

A
  • laws to prevent business from treating customers unfairly eg:
  • selling unsafe product
  • selling poor quality products
  • selling products described wrong
24
Q

legal responsibilities to customers

A
  • safe environment
  • good conditions of product
  • accurate description of product
25
Q

consumer rights act

A
  • gives rights when buying goods => all products must be: of satisfactory quality, fit for purpose & as described.
    covers:
  • refunds
  • returns
  • repairs & replacements
26
Q

advertisement law

A
  • marketing must be: accurate, legal, decent, truthful, socially responsible

-can’t: include false messages, leave out important info

27
Q

ASA

A
  • regulate advert content=> ensure they’re following code
  • investigate complaints=> can remove ad
28
Q

intellectual property

A
  • property that can’t be touched as a result of a persons creativity eg:
  • brand names
  • inventions
  • designs

gcse business (8 decks)

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