Some Issues in Businss Law - Assignment Example

SHОRT АNSWЕR QUЕSTIОNS FОR BUSINЕSS LАW Name Class: Lecturer: Institution: Address: Date: Shоrt Аnswеr Quеstiоns fоr Businеss Lаw Q1. Duty of care- Occupational Health and Safety Act 1984 Company law- corporate law, Corporations act 2001 Contract law - Contract and consumer law, sales of goods act 1896 Environmental law – Environment law, Environmental Protection and Biodiversity Conservation Act 1999 Freedom of information- freedom of information 1982 Industrial relations law – industrial law, Workplace Relations Act 1996 Privacy and confidentiality – privacy act 1988 Legislation relevant to organization’s operations- sales of goods act 1896 Legislation relevant to operation as a business entity Reasonable adjustment in the workplace for people with a disability – public administration act 2004 Anti Discrimination – discrimination act 1992 Unlawful dismissal rules and due process- discrimination act 1992 Q2. Any project undergoes an evaluation of risks and threats. The risk management plan is developed as a means to mitigate the frequency, severity and occurrence of the identifiable threats and risks (Yeates, Paul, Jenkins, Hindle & Rollason, 2006, p 83). The adoption of any risk management plan must incorporate Occupational Health and Safety regulations which dictate the workplace requirements to minimize risk and threat occurrence. Q3. a. Federal b. Federal c. Territorial d. Federal e. Statutory f. Statutory and federal g. Federal Q4. a. The sole trader is a setup where the entrepreneur is responsible for running and managing the venture, and shares the losses and profits alone. b. A partnership is a structure where the entrepreneurs are between two and five in a business sharing the responsibilities of running the business as well as the profits and losses based on the initial contributions of each member to the business (Fleisher & Bensoussan, 2007, p 49). c. Trusts are structures where the entrepreneur/s passes down the responsibilities of managing the venture to an appointed individual in a scenario where skills or availability is a factor hindering the entrepreneur from running the venture (Turban & Aronson, 2001, p 85). d. A company is a structure where entrepreneurs establish a systemic structure of the venture including a board, CEO/COO and other executive positions to running the venture, positions which the entrepreneurs may themselves assume, with funding from different sources such as the board members who share profits in the form of dividends (Turban & Aronson, 2001, p 76). Q5. Nature of business Size Labor management Available capital Legislation Q6. Structure Advantages Disadvantages Sole Trader - Profits are not shared -Decisions are individual based -Losses incurred by one -The workload is central to the entrepreneur Partnership -Losses are shared -Members contribute to resources -Profits are shared -Decisions are time consuming Trusts -Decisions are deliberated -Finances are not contributed by the appointed or employed staff -Decisions are time consuming -profits are shared Companies -Decisions are deliberated -Resources are amassed by members -Decisions are time consuming -profits shared Q7. a. Copyright is a method of protection based on acquiring rights to ownership of a product prohibiting others from selling or trading without the copyrighters consent (Turban & Aronson, 2001, p 61). b. Design is a form of protection where the developer of the product maintains the rights to owning the design of a product and cannot be asked to provide the background development data to any other party (Brennan & IIBA, 2009, p 38). c. Trademark is the rights of owning a brand that is used as a channel to distributing products and services (Turban & Aronson, 2001, p 32). d. Patents cover the rights to a product or service developed by the developer prohibiting anyone else from manufacturing and financially benefiting from the product without the developer’s authorization (Wang, 2002, p 217). Q8. a. Property insurance to organization is essential to minimize the costs associated with reacquisition of hardware and equipment that may be damaged through means covered in the insurance cover such as fire or theft (Brennan & IIBA, 2009, p 78). b. Liability insurance is essential to an organization to cover the possibility of charges that may arise from injury or insult caused by the organization to third parties (Wang, 2002, p 307). c. Worker compensation insurance is necessary to any organization since it ensures that the workers are adequately compensated in the event of losses or declines in the financial capabilities of the organization (Hollett, 1995, p 73). d. Loss of gross profit insurance is a means of preventing financial handicap from incurred losses by the business that may arise from various challenges in running the venture (Brennan & IIBA, 2009, p 114). e. Disability insurance is insurance taken to protect the organization from any form of disability inflicted by huddles in the workplace or business environment to the involved parties (Hollett, 1995, p 56). Q9. Insurance Auctions Legal sues Q10. Valid contract Valid trade or exchange Good faith Conditioning Duration Q11. Sex and gender Education Physical disability Race, tribe, and origin Q12. The organization is expected to have employees operate under safe and habitable environments. Q13. Gloves Hair nets Aprons and overalls Closed shoes Goggles Q14. The management plan should incorporate the employee and environment safety regulations, terms of service and reminders on the accepted conduct from employees and management. Q15. The induction package should include the regulations of operations in the organization, layout of the facility and management team on hierarchy as well as responsibility. Q16. Management should be done in regular and impromptu checkups. Q17. Records are important in tracking the origin of the products as well as the action taken on faulty products to avoid accidental use that may result into accidents, legal sues and hazards. Q18. The workplace is a place prone to accidents and data on incidences should be recorded for health and safety purposes Q19. A record of substances considered as hazardous to the workplace environment (Hollett, 1995, p 37). Q20. Reports involving testing are essential for results and tracking progress in various objectives involved in the process development. Q 21.proving the information minimizes cases of incidences and improper use of equipment in the workplace, thus limiting liability. Q22. The employees are evaluated based on performance, warnings are provided to substandard employees, evaluation is continued, and a notice of termination supplied to the affected. Q23. Every business should have records of taxes paid and the necessary licenses and certification from respective authorities (Timms, 2011, p 61). Q24.All transactions associated with the business should be recorded; expenses, wages, and benefits, among others. Q25. The Australian trade and welfare authorities Q26. 1. Sole trader- Gross sales 2. Partnership- Gross sales 3. Joint venture- Gross sales 4. Company- net sales 5. Trusts- Gross sales Q27. Executive Judiciary Parliament Q28. The conflict arises between the sate and commonwealth based on common interests and welfare of the people and the government. Q29. A state is bound by common principles of the citizens who democratically participate in decision making processes, while a territory is an area under common governance but one that is subjected to the members not necessarily involved in decision making (Timms, 2011, p 91). Q30. The laws made by the state are federal or statutory, while the territory makes territorial laws and the local governments make county laws (Timms, 2011, p 45) References Brennan, K & International Institute of Business Analysis (eds) 2009, 2nd edn, A Guide to the Business Analysis Body of Knowledge. London: Sage Publications. Fleisher, C & Bensoussan, B 2007, Business and Competitive Analysis: Effective Application of New and Classic Methods. New York: FT Press. Hollett, V 1995, Business Opportunities: Student's Book. New York: Oxford University Press, USA. Timms, J 2011, Introduction to Business Management. London: University of London. Turban, E & Aronson, JE 2001, Decision Support Systems and Intelligent Systems. New Jersey: Prentice-Hall. Wang, CX 2002, ‘A general framework of supply chain contract models’, Supply Chain Management: An International Journal, vol. 7, no. 5, pp. 302-310. Yeates, D, Paul, D, Jenkins, T, Hindle, K & Rollason C 2006, Business Analysis, Oxford: British Computer Society. Read More