OCR Business GCSE Influences on business

credits to Seneca as my flashcards are loosely based off their content

why is labour in developing countries a problem

in some countries it is legal to work very long hours for minimal pay

why does product development cause problems for a business

animal testing is used and this is disliked by consumes as its considered animal cruelty

why does employee welfare have to be considered by a business

companies need to treat employees fairly, give them a good wage, reasonable hours and holiday leave

what impact does fairtrade have on a business

buying fairtrade products means that the farmers in the country are paid a fair wage so it is more expensive

how can acting in an ethical way increase a business’s cost

if revenue is flat and costs rise there will be a negative impact on the business

what are the benefits of acting ethical

marketing

employee motivation and culture

stakeholders

why is traffic congestion an environmental issue for business’s

business’s transport goods which can cause a lot of congestion as many business’s do this

why is careless waste disposal an environmental issue for a business

materials that are harmful for the environment are dumped in landfills are not properly disposed of e.g. recycled

why is air and noise pollution an environmental issue for a business

factories and construction can be very loud which can be reduced by using more efficient machinery

why is poor choice of materials an environmental issue for business’s

they can use paperless methods of communication which is easier e.g. e-mails

why is lack of encouragement of public transport use an environmental problem for a business

using public transport means less individual pollution per person

how can a business be more sustainable

use renewable energy resources which lowers contribution to global warming

what is an economic cycle

the state of a country’s production and consumption of goods and services

what is a boom

when the economy is growing and business’s are generally doing well

what is a recession

when the economy is falling and business’s are experiencing a fall in demand

what determines if there is a boom or recession

unemployment

consumer spending

what can a fall in come mean for business’s that provide necessities

an increase in sales as people would have to spend more of their money on necessities

what impact does a fall in income have on luxury brands

people are less likely to buy luxury products

what are the benefits of globalisation

business’s can access more consumers and have more growth opportunities

reduce is costs for business’s as they can import cheaply from other countries

what are the drawbacks to globalisation

increased competition

ethical issues with labour in developing countries

fluctuating global economy

how do UK business’s compete internationally

better designs

high quality at a reasonable price