Influences On Businesses

Cards (36)

  • Air pollution
    The presence or introduction of harmful substances into the air causing disease, allergies or damage to humans, animals, plants or the built environment.
  • Consumer law

    Laws designed to ensure that businesses make products that are safe and of good quality, and that they deal with customers honestly and fairly.
  • Consumer spending
    The money spent by households on goods and services to satisfy their needs and wants.
  • Contracts of employment
    A legal document that sets out the terms and conditions of the job for the employer and the employee.
  • Disposal of waste

    The removal, storage or destruction of unwanted material. Methods include recycling, burning and landfill sites.
  • E-commerce

    Business transactions carried out electronically on the internet
  • Employment law

    Rulings that relate to the rights and responsibilities of people who work for a business; they affect the recruitment and selection process and how the business deals with its workers.
  • Equality Act (2010)

    Protects people from discrimination in the workplace and in wider society. It sets out the different ways in which it is unlawful to treat someone.
  • Ethical objectives

    A business' goals that relate to fair business practice or moral guidelines and make a positive contribution to the business' reputation.
  • Ethics
    The moral principles that guide how a business operates.
  • Exchange rates
    The price of one currency based on another or the cost of buying one currency from another, for example £1 = $1.21.
  • Export
    Good/service sold to a customer in another country.
  • Global warming
    The steady increase in the earth's temperature due to emissions and the buildup of greenhouse gases, resulting in climate changes.
  • Globalisation
    The trend for large businesses to operate on a worldwide scale; money, goods and services can be transferred across national borders.
  • Health and Safety at Work Act (1974)

    Sets out the duties and responsibilities of both employers and employees for health and safety in the workplace.
  • Import
    Good/service bought from a supplier in another country.
  • Interest rates
    The rate charged for borrowing money over a period of time, or the reward for saving money.
  • Level of employment

    The percentage of the population of working age that are employed.
  • M-commerce

    Business transactions are carried out electronically by mobile phone.
  • National minimum wage/living wage

    The lowest hourly rate that can legally be paid by an employer to an employee.
  • Noise pollution

    A type and level of noise that is excessive and disturbing to people or animals.
  • Recycling
    The conversion of waste into reusable material.
  • Risk
    The possibility that the return on investment will be lower than expected
  • Sustainability
    The process of operating without damaging the environment or depleting natural resources.
  • Traffic congestion

    The effects of overuse of transport networks, for example slower speeds, traffic queues and longer journey times.
  • Waste
    The unwanted material left over from the production process; it may have little or no value and the business may have to pay for its disposal.
  • Zero-hour contract

    A contract of employment where the employer is not obliged to provide any minimum hours of work; the employee is not obliged to accept any work that is offered.
  • Digital Commmunication

    The transmission of information electronically between computing devices.
  • Social Responsibility

    An approach to managing businesses in which the interests of all groups in society are taken into account when making decisions.
  • External Costs

    When business activities result in harmful effects on other people not directly involved in production.
  • Economic Climate
    The state of key factors within a country such as the level of goods and services produced and the number of jobs available.
  • Multinational Company (MNC)

    A company which produces goods and services in more than one country.
  • Inward Investment

    When governments, businesses and individuals invest capital into another country.
  • Markets
    Exist where there are buyers and sellers.
  • Competition
    When more than one business is attempting to attract the same customers.
  • Uncertainty
    Occurs when there is a lack of information about a situation. This means the outcome is difficult to predict.