Two green initiatives corporations can carry out to practice environmental responsibility. Invest in greener __________, _________and ________. The use of _____ _________ reduces carbon emissions which is a __________ gas. The company can also invest in ______ _________ lightbulbs to reduce ______ ___________. Encourage employees to be more _______________ _____. Employees can reduce _____ usage in the office to preserve the _______ since the production of paper contributes greatly towards _____________. Employees can also ______ ___ unused electrical appliances to lower ______ ___________.

technology, machinery, equipment, green machinery, greenhouse, energy efficient, energy consumption, environmentally aware, paper, forests, deforestation, switch off, energy consumption

Benefits of carrying out environmental responsibilities

Improves public image & public relations

Definition of outsourcing. The practice of hiring an ________ ____________ to perform certain ________ _________.

external organisation, business functions

Three advantages & disadvantages of outsourcing. ADVANTAGES 1. Able to ____ ________ with the vendor instead of having to manage ___ ___ _____ 2. Able to find _________ outside of the home country 3. Able to find people who are willing to do jobs that are ___ ______ in the home country DISADVANTAGES 1. Loss of own _________ 2. Lack of _______ over workers 3. Lack of control over _________ of the organisation

deal directly, all the staff, expertise, not wanted, workforce, control, standards

Three unethical concerns of outsourcing. 1. Poor working ___________ 2. ________ concerns 3. Employees are _________ & not given the appropriate _____________

environment, security, underpaid, remunerations

Three advantages of using offshore labour. 1. _____ wages that are paid to offshore workers which reduces ____ _____ 2. Reduced ___ _____ that are offered as an __________ by overseas countries 3. Able to avoid ____ __ _____ _ __________ , including _____________ __________, ____________ ______ or______ _________ ___

lower, wage costs, tax rates, inducement, cost of other regulations, environmental protection, occupational health, labour relations law

Three disadvantages of using offshore labour. 1. Increases the ____________ rate in home country because job opportunities are ________ 2. Consumers will be ________ to deal with offshore/overseas ________ _______ 3. ________ for the business to ______ the offshore staff

unemployment, exported, hesitant, customer service, difficult, manage

Two unethical concerns about offshore labour. 1. _____ working conditions that are ____________ 2. Workers are paid _______ ____ or lower than _______ ____

harsh, dehumanising, minimum wage, minimum wage

Five ethical practices when using offshore labour. 1. Not forcing employees to work ______ ________ with no ______ & __________ for slow work or mistakes 2. Maintaining the _______ of products relative to the price sold 3. Not using __________ where workers are paid ____ ______ for their work 4. Managers must visit their ________ ________ more often to _______ the working conditions themselves 5. ___________ with local ______ to ensure good working conditions are met

unpaid overtime, breaks, punishment, quality, sweatshops, very little, offshore partners, observe, collaborate, unions

Definition of ethical practice. A business is operating in __________ with the _____ or _________ for right _______ or ________.

accordance, rules, standards, conduct, practice

Role of International Labour Organisation (ILO). Set _________ for __________ to ensure ______ _______, __________ & _____ for all.

standards, employment, social justice, prosperity, peace

Fundamentals of International Labour Organisation (ILO)

Elimination of discrimination of employment & occupation

Elimination of forced or compulsory labour

Ways International Labour Organisation (ILO) can minimise or overcome labour exploitation & child labour issues.

Realise standards & fundamental principles & rights at work

Create greater opportunities for decent employment

Implement ILO child labour conventions

Ways the government can minimise or overcome labour exploitation & child labour issues.

Ensure basic needs or children are met

Ways consumers can minimise or overcome labour exploitation & child labour issues.

Support brands that do not use exploitative child labour or employees

Support non-governmental organisations (World Vision)

Definition of Corporate Social Responsibility (CSR). Also known as ______ ______ ____, a ____-_________ mechanism whereby a company ________ monitors ______, ___________, ______ ______, _______ __________ & _____ _________

triple bottom line, self-regulation, actively, society, environment, global trends, ethical principles, legal standards

Role of Corporate Social Responsibility (CSR). To _______ a business to achieve its ________ _____ in the context of the _______ ______ in which it operates, thus giving ___ _____________ to the community & environment of a range of ____________.

support, business goals, broader system, due consideration, stakeholders

Three benefits of Corporate Social Responsibility (CSR). 1. Improves _________ performance - CSR programs improve _________ ___________, ______ ____________ & _____ ______ - CSR programs improve ________ ____________ & boosts ____________ while helping companies _____ to customers that are __________ to sustainable practices 2. Better staff _________ - being an ________ typically translates into the company's ability to _______ & retain ____ caliber staff - by offering ____-____ balance, ________ working conditions & workplace ___________ 3. Develop ________ business image - _ out of __ consumers _______ from doing business with a corporation without a ___ ____

financial, operating performance, labour productivity, sales growth, employee satisfaction, productivity, cater, responsive, retention, employer, attract, high, work-life, positive, flexibility, positive, 9, 10, refrain, CSR plan

Two benefits of Corporate Social Responsibility (CSR). 1. Increase _____ & customer _______ - essential to ________ & ___________ trust between the company & the clients - can __________ ____, build _________ & foster ______ working relationships with both ________ & ___ clients, which will subsequently ________ sales 2. Reduce _____ through waste _________ & process __________ - use CSR as a way to ___ _____ through using less _________ or less ______

sales, loyalty, building, maintaining, strengthen ties, alliances, strong, existing, new, increase, costs, reduction, efficiency, cut costs, packaging, energy

Definition of environmental sustainability. Make _________ & take _______ to protect the _______ _____ & preserve the __________ of the environment by adopting environmentally responsible operations such as investing in __________ packaging.

decisions, actions, natural world, capability, recyclable

Benefits of environmental sustainability.

Engender staff loyalty due to the respect demonstrated to the local community & environment

Levels of Education: _______ availability of _______ labour for higher senior positions _______ availability of ___-_______ labour for lower positions

limited, skilled, greater, non-skilled

Religious Beliefs: common _______, ______ or _________ concerning a being or a system of _______ religious people consider religion to be ______, ______ & the _______ _____

beliefs, values, attitudes, thought, sacred, divine, highest truth

Communication Protocols: types of ___________ to be communicated shows _______________ stand out from ___________

information, professionalism, competitors

Economic Activity: involves the __________, ____________, ______ & _______ of ________ & ________ can be measured by a country's _____ ________ _______ (GDP) strength of economic activity & estimated future levels affects business ______ _ _______ , _________ & ________ _____ if the overseas country is experiencing an economic _________, the business would experience stronger sales as consumers are ____ confident to spend on the products if the overseas country is experiencing economic ___________, the business would experience lower sales as consumers are ___ confident to spend on the products

production, distribution, buying, selling, products, services, gross domestic product, growth & profits, inflation, interest rates, expansion, more, contraction, not

Interest Rates: _________ of the strength of an economy that is determined by _______ ____ __ _________ (RBA) in _________ uncertainty in economy may lead to government ________ interest rates to spur borrowing & expenditure may impact ________ ________ in global markets & global expansion such as the ______________ ___________ _____

indicator, Reserve Bank of Australia, Australia, lowering, spending patterns, infrastructure development costs

Discretionary Spending: the amount _________ after paying ____'_ __________, aka non-discretionary spending, such as on ____, ____, _________, ________ & _____ there is a need for ______ & ________ market research to determine _____________ ________ ______, ________ __ _______ _ __________ ______ _______ & ________ __________ ______ to investigate ______ ______ when there is uncertainty in economy when global consumers do not have confidence in the economy, global consumers tend to spend ____ even if they have ____ discretionary income as they are concerned about ___ ________, ________ ________ & ______ __ _______

leftovers, life's essentials, food, rent, education, clothing, taxes, timely, accurate, discretionary spending habits, patterns of current & developing global markets, consumer confidence levels, future trends, less, high, job security, personal finances, health of economy

Currency Fluctuations: the change in ______ _____ of one country's currency relative to another country's currency affects businesses that engage in international business transactions such as _________, _________ & ______ _______ _________ can impact _______ & ____________ costs to consumers in the global market if the Australian dollar rises against a foreign currency, the business may find it ____ costly to operate in the country of that currency if the Australian dollar falls against a foreign currency, the business may find it ____ costly to operate in the country of that currency

dollar value, importing, exporting, paying foreign employees, product, distribution, less, more

Stability of Foreign Governments: Unstable countries may have _____, ________, _______ & _______ ________ that will disrupt business operations by _________ __________, ________ ______ __ _______ ______ & _______ ______ business would consider a country's __________ _________ when considering establishing business relationships

riots, protests, looting, general disorder, hindering production, reducing access to skilled labour, halting export, government stability

Relationships between Foreign Governments & Australian Government: 1. Diplomatic & Economic Relationships - if there is an issue or disagreement between governments, the governments may _________ or ______ the other with economic ____________ such as _______ - Australia & Indonesia suspended ____ ______ trade due to ______ _______, causing friction between the governments 2. Free Trade Agreements (FTA) & Regional Partnerships - make trades ______ between countries as they are both more likely to be developed & agreed to between countries with good relationships 3. Similar Cultures & Shared Histories - countries with _______ ________ & ______ _________ often develop into _______ partners which encourages _____-________ businesses - European countries & European Union (EU)

retaliate, punish, restrictions, tariffs, live animal, animal cruelty, easier, similar cultures, shared histories, trading, cross-national

Banks: offer a variety of ________, ___________ & ____ ________ to businesses the money collected from __________ & money earned from ___________ is used to fund _____ to customers

deposits, investments, loan accounts, depositors, investments, loans

Commercial Banks: a financial ____________ between customers with capital _________ who deposit their money with the bank & customers with capital ________ who need money Merchant Banks: a company that conducts ____ ________, ____________, _________ ________ & ___________ ________ for _____ ____________ & ____ ___ _____ ___________ do not provide services to the _______ ______ & regular banking services such as ________ ________ & ______ ________ are experts in _____________ _____ which makes them specialists in dealing with _____________ ____________ (MNC)

intermediary, surpluses, deficits, loan services, underwriting, financial advising, fundraising services, large corporations, high net worth individuals, general public, checking accounts, taking deposits, international trade, multinational corporations

Finance Companies: provide _____ for businesses gains its fundings from _____ & _____ _________ ____________ at a ___ interest rate & uses these funds to ______ ______ to customers earn profit by charging its customers a ______ interest rate then what they are paying & may charge ____ ____ & other administrative charges lend to those who __ ___ qualify for ____ loans

loans, banks, other financial institutions, set, extend credit, higher, loan fees, do not, bank

Insurance Companies: ____ insurance & _______ insurance ______ & ______ the regular insurance ________ paid by customers __ ___ create money in the financial system

life, general, invest, manage, premiums, do not

Patent Registrations: the legal protection for ____________ __________ especially ___________ & __________ of all kinds globally length of protection of a maximum of __ years the business should consider applying for a patent in the country it intends to operate in under the ______ ______ or apply for a patent in multiple countries under the ______ ___________ ______ (PCT) helps a business to maintain its ___________ _________ if intellectual property is protected, competitors are unable to take away the _____ & ______ ______ of the business & compete directly with the business's ________ or ________

intellectual properties, innovations, inventions, 20, Patent Office, Patent Cooperation Treaty, competitive advantage, sales, market shares, products, services

AUSMAT BME CHP 6-7 2023

Authored by ANGEL OxO

Business

12th Grade

Used 7+ times

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62 questions

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MULTIPLE SELECT QUESTION

45 sec • 1 pt

Ethical Decisions

Environmental Responsibility

Outsourcing

Offshore Labour

Environmental Sustainability

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Ethical Practices

Environmental Sustainability

Corporate Social Responsibility (CSR)

International Labour Organisation (ILO)

Environmental Responsibility

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Cultural Considerations

Religious Beliefs

Organisational Culture

Holidays & Celebrations

Level of Education

Communication Protocols

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Cultural Considerations

Business Etiquette

Eating Habits

Working Hours

Customs

Form of Address

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Economic Factors

Discretionary Spending

Interest Rates

Economic Activity

Currency Fluctuations

Discretionary Income

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Political Factors

Stability of Foreign Governments

Relationships between Foreign Governments & Australian Government

Stability of Australian Government

Relationships between Foreign Governments

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Financial Institutions

Merchant Bank

Commercial Bank

Insurance Company

Finance Company

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AUSMAT BME CHP 6-7 2023

Ethical Decisions

Ethical Practices

Cultural Considerations

Cultural Considerations

Economic Factors

Political Factors

Financial Institutions

Source of Internal Funding

Source of External Fundings

Source of External Fundings

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