Business Studies Grade 12 - Term 1 Practice Flashcards

A comprehensive set of practice flashcards covering South African business legislation, human resources, ethics, creative thinking, and business strategies based on Grade 12 Term 1 notes.

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

To improve the skill levels of people who are already employed in the business to improve productivity and economic growth.

Which businesses are required to pay the $1\%$ Skills Development Levy (SDL)?

Employers who have a salary bill that exceeds $R500\,000$ per annum.

What is the role of the Commission for Conciliation, Mediation and Arbitration (CCMA)?

An organization established by the LRA to resolve labour disputes through simple procedures.

Under the Basic Conditions of Employment Act (BCEA), what is the maximum number of ordinary work hours allowed per week?

$45\,\text{hours}$.

What is the entitlement for paid sick leave under the BCEA during a $36\text{-month}$ cycle?

$30\,\text{days}$ or $6\,\text{weeks}$ of paid sick leave.

Distinguish between a job description and a job specification.

A job description describes the duties and responsibilities of a specific job, while a job specification describes the minimum acceptable personal qualities, skills, or qualifications needed.

Name the five revised pillars of the Broad-Based Black Economic Empowerment (BBBEE) Act.

1. Management control, 2. Ownership, 3. Enterprise and supplier development (ESD), 4. Skills development, and 5. Socio-economic development.

What individuals are excluded from claiming compensation under the Compensation for Occupational Injuries and Diseases Act (COIDA)?

Workers guilty of wilful misconduct, those working outside South Africa for at least $12\,\text{months}$, and members of the South African Defence Force or Police services.

What is the primary objective of the National Credit Act (NCA)?

To protect consumers against unfair and reckless credit granting by businesses and prevent over-indebtedness.

Identify four consumer rights protected under the Consumer Protection Act (CPA).

The right to choose, the right to privacy and confidentiality, the right to fair and honest dealings, and the right to return goods or claim a refund.

What are the three King Code principles for good corporate governance?

Transparency, Accountability, and Responsibility.

What is the difference between problem solving and decision making?

Decision making is often done by one person using judgment to choose a solution, while problem solving involves a group or individual using a cycle to identify, define, and evaluate alternative strategies.

Describe the application of the Delphi technique in problem solving.

A panel of experts is invited to research problems and respond to questionnaires individually until reaching consensus, avoiding direct group contact.

List the five elements of Porter's Five Forces model.

1. Power of suppliers, 2. Power of buyers, 3. Power of competitors/Competitive rivalry, 4. Threat of substitution, and 5. Threat of new entrants.

What strategy involves a business taking over its suppliers up the supply chain?

Backward vertical integration.

What is the difference between concentric and conglomerate diversification?

Concentric diversification adds a related new product that appeals to new customers, whereas conglomerate diversification adds unrelated new products to appeal to new groups of customers.

What is the purpose of the Unemployment Insurance Fund (UIF)?

To offer short-term financial assistance to workers when they become unemployed or unable to work due to illness, maternity, or adoption leave.

Name the factors included in a PESTLE analysis.

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

What is the primary role of SETAs?

To implement and monitor the implementation of the Skills Development Act and oversee training in specific economic sectors.

What is the 'cooling-off period' under the Consumer Protection Act?

A period of five working days during which consumers may cancel purchases made through direct marketing.