Codes of Practice
Posted by SkillMaker in Sep, 2019
What is meant by code of practice? Codes of practice are ‘rules of best behaviour’ for business. They address a range of circumstances, describing how business personnel should interact with consumers or the community. Codes of practice describe standards against which a business can self-regulate. They provide a base against which consumers can frame their […]
Australian law makers
Posted by SkillMaker in Sep, 2019
Who makes the laws in Australia? The law makers in Australia are the Federal Government, the state and territory governments and the hundreds of councils that collectively form local government. The federal and state governments were formed at federation—on 1 January 1901. As they became states, the six former British colonies agreed to hand over […]
Unit costs in business
Posted by SkillMaker in Dec, 2016
What are Unit costs? The unit cost is the average total cost of making, storing and selling one unit of a product. It is a consideration when a business makes large numbers of the same product. The unit cost of a product takes into account fixed costs as well as variable costs. Fixed costs are […]
Category: BSBSMB402
Post Tagged with breakeven point, fixed costs, pricing, production, profit, small business finance, SMB, unit costs, variable costs Glossary Small Business Legal
Posted by SkillMaker in Dec, 2016
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Category: BSBSMB401
Glossary Small Business Finance
Posted by SkillMaker in Dec, 2016
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Category: BSBSMB402
Post Tagged with finance, glossary, small business, small business finance, small business finance glossary, SMB Gross Profit Margin
Posted by Peter Baskerville in Sep, 2016
What is the Gross Profit Margin? Gross profit margin is a financial ratio that is commonly used when assessing the financial management and performance of a business. A higher gross profit margin, relative to the average industry benchmark or to previous trading periods, is an indicator of good financial management. The […]
Category: BSBSMB402
Business Performance Measures
Posted by Matt F Champion in Aug, 2015
What are Business Performance Measures? Business performance measures are a set of quantifiable metrics taken from various sources that together with an appropriate analytical process, allows the management of a business to track and assess the current status of a specific business, project or process. Business performance measures may be compared with pre-set goals and […]
Category: BSBSMB405
Post Tagged with Balances Scorecard, Business Metrics, Business Performance, KPI, Performance Appraisal, Six Sigma, SMB Business Contingency Plan
Posted by Flora Bouton in Aug, 2015
What is a Business contingency plan? A contingency plan is developed within the broader risk management plan and details a pre-researched course of action for management and staff to follow in an emergency or when an organization experiences an unexpected event that has the potential to affect the financial position, business image or market share […]
Category: BSBSMB406
Post Tagged with article, business continuity, contingency, contingency plan, contingency planning, disaster recovery, incident response, risk management, risks, SMB Business Image
Posted by Clara Lin in Jul, 2015
What is a Business image? A business image is the perception people have of your business when they hear your business name. A business’s image is composed of an infinite variety of information, events, personal stories, promotional activities and goals that work together to make an impression on the public. A business image would continually […]
Business Stakeholders
Posted by Nicole Baskerville in Mar, 2015
What are Business Stakeholders? Business Stakeholders are a person or group that can affect or be affected by the actions of a business. Stakeholders have a ‘stake’ in the business and can gain or lose as a result of business activity. Business stakeholders hold the key to the environment in which a business operates and the subsequent financial […]
Category: BSBSMB403