Grade 12 Business Studies Paper 1 Review Flashcards

Flashcards testing core concepts, legal frameworks, business environments, strategic management, HR practices, and quality performance from Grade 12 Business Studies Paper 1.

What is the primary purpose of the Skills Development Act (SDA)?

To invest in the education and training of workers, encourage participation in learning programs, redress past imbalances through education and training, and motivate businesses to improve worker skills.

What percentage of an employer's payroll must be paid over to the SETA under the SDA?

One per cent ($1\%$) of an employer's payroll.

What is the purpose of the Labour Relations Act (LRA)?

To provide a framework for labour relations between employers and employees, promote collective bargaining, establish workplace forums, and simplify trade union registration.

According to the Employment Equity Act (EEA), how are equal work and equal pay defined?

Employees who do the same work or work of equal value must receive equal pay.

How often must businesses submit employment equity reports under the EEA?

Every two years.

What are the maximum ordinary work hours per week permitted by the Basic Conditions of Employment Act (BCEA)?

Workers may not work for more than 45 hours in any week.

What paid sick leave entitlement do workers have under the BCEA?

Six weeks of paid sick leave in a 36-month cycle.

What rate of pay must workers receive for working on Sundays and public holidays according to the BCEA?

Double the normal rate of pay.

Which groups of workers are excluded from COIDA protection?

Workers guilty of wilful misconduct, workers working outside South Africa for at least twelve months, members of the SA Defence Force, and Police services.

How long must businesses keep records of employees' income and work details for COIDA compliance?

Four years.

What are the five pillars of BBBEE detailed in the notes?

Management Control, Ownership, Enterprise Development, Skills Development, and Social Responsibility.

What maximum fine percentage of annual turnover can a business face for non-compliance with BBBEE?

A fine of up to 10% of the company’s annual turnover.

What cooling-off period must be provided in all agreements under the Consumer Protection Act (CPA)?

A five-day cooling off period.

Under the CPA, within what timeframe can a consumer return faulty items for a full refund?

Within six months after purchasing the item.

What are the five components of Porter's Five Forces model?

Power of Suppliers, Power of Buyers, Power of Competitors, Threat of Substitutes, and Threat/Barriers of New Entrants.

What does the acronym PESTLE stand for in industrial analysis?

Political, Economic, Social, Technological, Legal, and Environmental.

What is Backward Integration?

An integration strategy where a business combines with or takes over its suppliers to decrease dependency on them.

What is the difference between Concentric Diversification and Horizontal Diversification?

Concentric diversification adds a related new product/service to appeal to new customers, whereas horizontal diversification adds an unrelated new product/service to appeal to existing customers.

What are the three business sectors and their main activities?

Primary Sector (extracts raw materials and natural resources), Secondary Sector (manufactures raw materials into useful products), and Tertiary Sector (renders services to the public and businesses).

What extent of control does a business have over the Micro, Market, and Macro business environments?

Micro environment: Full control; Market environment: Little/partial/limited control; Macro environment: No control.

What is the distinction between a Job Description and a Job Specification?

A Job Description details the duties, responsibilities, and tasks of a job, while a Job Specification outlines the minimum qualifications, skills, experience, and personal qualities required of a candidate.

What is the difference between Piecemeal and Time-Related salary determination?

Piecemeal pays workers based on the number of items or units produced, whereas time-related pays workers based on the amount of time spent at work regardless of production quantity.

What is the operational difference between Quality Control and Quality Assurance?

Quality Control inspects the final product to verify it meets standards, whereas Quality Assurance inspects processes during and after production to ensure quality is built in and errors are prevented.

What are the four steps in the PDCA cycle for improving product quality?

Plan, Do, Check/Analyse, and Act as needed.