- Created by: SophieRevises
- Created on: 28-08-18 11:43
Someone who has an interest in or is affected by the performance of a business.
Key stakeholders are:
- owners and shareholders
- managers and employees
- local community
- pressure groups
Online - card payments
- systems such as PayPal
Chip and Pin
Employment and the law
The laws associated with the relationship between employer and employee.
Pay - there is a minimum amount employers have to pay their staff. Age 24 and under is the National Minimum Wage. Age 25 and over is the National Living Wage.
Recruitment - procedures must not discriminate against anyone because of religion, gender, race, age, sexual orientatio or disability. Employees must have the legal right to work in the UK.
Discrimination - Employer must not discrimiate on recruitment practices or pay.
Health and Safety - ensures risks to people are properly controlled. H&S training and safety equipment must be provided.
Consumer Rights Act 2015
Covers how goods and services can be sold
Fit for purpose - must do the job its provided for
Match its description - illegal to give a false description
Satisfactory quality - must be well made and not fall apart
Interest Rates and Exchange Rates
Low interest rates - increased spending
- better for borrowers
High interest rates - decreased spending
- better for savers
An exchange rate is the price one currency can be traded for another.
Weak pound - good for exporters
Strong pound - good for importers