Flashcards in RDP, CSR, Cash and Credit Purchasing, Laws Deck (16):
What does CSR stand for?
Corporate Social Responsibility
What is the aim of CSR?
A concept which encourages business enterprises to give something back to society
-contributing to sustainable development
Give some examples of CSR
Sponsorships - think of DHL courier services, they are the main sponsor for the Stormers rugby team
What does RDP stand for?
Reconstruction and Development Programme
What is RDP?
-Strategy for economic growth and development
-To build a better South Africa by fighting poverty and inequality
What is the aim of RDP
-meeting the basic needs of South Africans e.g. housing, water, electricity, food
-development of Human Resources e.g. Education, training, and skills development
-Building the economy e.g. focusing on the strengths of the economy
-democratization of the state and society e.g. everyone participate in the economy of our land
Name some of the successes of the RDP
-Providing many rural areas with running water
-Free health care provided
-over a million electrical connections have been made
Name some of the failures of the RDP
-Slow in providing housing to the poor
-Problems with land reform
What is Cash purchasing?
-Takes place when the goods are paid at the same time it is taken from the store
-Notes, coins, cheques, debit cards, internet transfers
What is Credit purchasing?
-Takes place when goods are sold now, but only paid for in the future
-credit cards, credit on account, credit on instalment sale
What are the advantages of Credit purchasing?
-no problems with outstanding debts
-no accounts to be sent to debtors
-qualify for cash discount
What are the advantages of cash purchasing?
-Credit traders charge more for their goods because they have to wait for payment
-enables consumers to buy goods now and pay laer
What is the Basic Conditions of Employment Act (law in SA)
-Family responsibility leave
-Notice of termination of employment
What is the Employment Equity Act (law in SA)
-To eliminate unfair discrimination in the workplace
-Promote equal opportunities and fair treatment
What does BEE stand for
Black Economic Empowerment