AOS 2

Question 1

Macro environment

Answer 1

no control; government laws, trends, economic conditions

Question 2

operating environment

Answer 2

some control over; supplier, customers, competitors

Question 3

laws relating to levels of government (federal)

Answer 3

paying taxes for employees & company paying GST and taxes

Question 4

laws relating to levels of government (state)

Answer 4

abiding by state legislation and pollution controls

Question 5

laws relating to levels of government (local)

Answer 5

fire and parking regulations

Question 6

social attitudes

Answer 6

ideas, values and beliefs, held by people in a particular society

Question 7

values and beliefs

Answer 7

the shared morals and principles of a group of people

Question 8

beliefs

Answer 8

can be passed down from generation to generation

Question 9

values

Answer 9

reflected in behaviour; what they prioritise or how they treat others

Question 10

trends definition

Answer 10

when peoples attitudes or behaviours in a society are developing or changing

Question 11

considering trends

Answer 11

consider demographics, family friendly workplaces, workplace diversity

Question 12

economic conditions definition

Answer 12

a set of influences that relate to economic activity like interest rates, wages and unemployment.

Question 13

growth, recession

Answer 13

boom, bust

Question 14

interest rates definition

Answer 14

price paid for the use of money that has been borrowed or deposited

Question 15

tax rates definition

Answer 15

the percentage of income which is paid as tax

Question 16

business and consumer confidence levels definition

Answer 16

how businesses and consumers are feeling about the economy

Question 17

technological issues definition

Answer 17

issues relating to the growing use of tools, techniques or systems by businesses to serve a purpose

Question 18

technology

Answer 18

increases efficiency, productivity or innovation, may decrease employment levels, worse quality products

Question 19

overseas competitors

Answer 19

competing on a global scale, Australian trade commission

Question 20

offshoring labour

Answer 20

the relocation of a businesses services to overseas

consider labour, advantages of lower costs, also responsible for job loss

Question 21

exchange rates

Answer 21

one country’s currency expressed in terms of another country’s currency

interest rates, economic condition, balance of trade

Question 22

patent

Answer 22

rights granted for any device, substance, method or process that is new or inventive

Question 23

copyrights

Answer 23

free and automatic protection for original works like art or music

Question 24

trademarks

Answer 24

rights granted over a logo, word, phrase, etc, that a business will use to represent its products

Question 25

online sales

Answer 25

reach a wider market, long term costs are reduced websites are costly

Question 26

corporate social responsibility

Answer 26

a businesses ability to go above and beyond its local obligations in relation to its social, environmental and economic impacts

Question 27

environmental considerations (CSR)

Answer 27

should not have a negative impact on the environment; sustainable ingredients, using ethical suppliers

Question 28

production of goods and services in a way that benefits society

Answer 28

should not negatively impact community health & social conditions, purchasing materials/ resources from local suppliers, be safe and reliable products

Question 29

customers definition

Answer 29

the people who purchase goods and services from a business

Question 30

customer considerations

Answer 30

high quality products, ethical suppliers, clean environments for customers to walk into

Question 31

competitors definition

Answer 31

other businesses or individuals who offer rival goods or services

Question 32

gaining competitive advantage

Answer 32

discounts, sales, change product prices, advertisements, improvements to products

Question 33

competitor considerations

Answer 33

gap in the market, strengths and weaknesses of competitors

Question 34

supply chain

Answer 34

the range of suppliers from which the business purchases its materials and resources

Question 35

suppliers

Answer 35

businesses or individuals that supply the materials and other resources to the business in order to conduct operations

Question 36

special interest groups

Answer 36

groups of people who attempt to influence a business to adopt particular policies

Question 37

environmental lobby groups

Answer 37

groups that promote environmental issues to the public, government and businesses

Question 38

business associations

Answer 38

organisations that support businesses through training, education programs, advice and information

Question 39

unions

Answer 39

organisations formed by employees to represent them in efforts to improve wages and working conditions