BUSINESS MANAGEMENT GLOSSARY CHAPTER 3 (Globalization (is the effect of hi…
BUSINESS MANAGEMENT GLOSSARY CHAPTER 3
are organisations formed by employees in an industry, trade or occupation to represent them in efforts to improve wages and working conditions.
are organisations that support business through provisions of training and education programs, advice and information
Environmental Lobby Groups
are special interest groups that promote environmental issues to the public, government and businesses.
Special Interest Groups
are groups of people who attempt to directly influence or persuade a business to adopt particular policies or procedures.
is the range of suppliers from which the business purchases materials and resources.
are those businesses or individuals that supply the materials and other resources that businesses need to conduct its operations.
is the ability of a business to develop strategies that ensure, it has an 'edge' over competitors.
are the other businesses or individuals who rival, or competing, goods or services to ones offered by the business.
are the people who purchase goods and services from a business, expecting high quality and competitive prices.
Triple Bottom Line
refers to the economic, environmental and social performance of a business.
is the price of one country's currency in terms of another country's currency
Corporate Social Responsibility
refers to managing a business in such a way that the broader social welfare if the community, including its employees, customers, suppliers and the environment, is take into consideration when making business decisions.
is the practice of moving some of a business' processes or services to the same or another business located overseas.
is the effect of hi-tech communications, lower transport costs and unrestricted trade and finical flows turning the whole world into a single market, producing more integrated global economic systems.
refers to the issues relating to the growing use of tools, technique or systems by businesses to solve problems or serve a purpose.
is the percentage of income or the value of a good, service or asset paid as tax.
is the price charged or paid for the use of money that has been deposited or borrowed.
refers to the set of influences that relate to economic activity, including interest rates, wages, unemployment, exchange rates and inflation.
refers to teh multitude of individual differences that exist among people in the workplace.
Goods and Service Tax (GST)
is a broad-based tax of 10 percent on the supply of most goods and services in Australia
Business Activity Statement (BAS)
records a businesses claims for input tax claims and accounts for GST payable.
is made up of the broad conditions and trends in the economy and society within which a business operates.
sometimes called the task environment, refers to the specific outside stakeholders with whom the business interacts in conducting its business.
includes those factors over which the business has little control. it may be further divided into two categories: operating and macro.
sometimes called the macro-environment, includes those factors which the business has a degree of control.
refers to the surrounding condition in which the business operates. it can be divided into two broad categories: Internal and External