The Impact of Recent Legislation on Businesses

This set of flashcards covers important vocabulary and definitions related to recent legislation affecting businesses, focusing on key acts and concepts within business studies for Grade 12.

Skills Development Act (SDA)

An Act aimed at improving the skill levels of people already employed in the business.

Labour Relations Act (LRA)

A law that promotes fair labour practices and provides a framework for resolving workplace disputes.

Employment Equity Act (EEA)

An Act that advocates for equal pay for equal work and aims to eliminate discrimination in the workplace.

Basic Conditions of Employment Act (BCEA)

Establishes minimum working conditions for employees, including hours of work and leave entitlements.

Compensation for Occupational Injuries and Diseases Act (COIDA)

Provides protection and compensation to employees injured or disabled as a result of their work.

Broad-Based Black Economic Empowerment Act (BBBEE)

An Act aimed at redressing economic imbalances by ensuring equitable wealth distribution.

Learnerships

Structured learning programs that combine theory and practical training leading to a recognized qualification.

SETAs (Sector Education and Training Authorities)

Organizations that oversee vocational education and training for a specific sector and manage skills development initiatives.

Collective Bargaining

Negotiation process between employers and trade unions to determine terms of employment.

Bargaining Council

A forum for regulated collective bargaining concerning industrial relations.