Law of Contract
Posted by Ashley Buller in Sep, 2014
What is the Law of Contract? The basis of a contract is – An offer – Negotiation – Agreement – An obligation to carry out that agreement When that obligation is not carried out on either sides of the contract, the court becomes involved to solve the dispute. Law of Contract is when the agreement is examined to see […]
Post Tagged with Business Products
Posted by Jesamine Barton in Sep, 2014
What are business products? A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase. For example a seller of a toothbrush […]
Category: BSBSMB402
Rights of Businesses in Australia
Posted by Jesamine Barton in Sep, 2014
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What are the rights of businesses operating in Australia? In Australia you have certain rights/protections under the Australian Consumer Law and the Competition and Consumer Act 2010. As of January 1st 2011 every Australian business was given the same rights and responsibilities under the Australian consumer law. Under the ACL all businesses are expected to […]
Risk treatment
Posted by SkillMaker in Dec, 2013
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What is Risk treatment? Risk treatment is the name given to a wide range of strategies which are used to reduce, remove, avoid, transfer or otherwise alter the risk. Specific treatment strategies can be created to treat specific risks which have been identified. Treatment strategies may differ, depending on the risk context. What is Risk […]
Risk Stakeholders
Posted by SkillMaker in Dec, 2013
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What are risk stakeholders? Risk stakeholders are the people who are (or perceive themselves to be) affected by a decision, treatment, strategy or process. A stakeholder can be an individual, an organisation or a grouping within an organisation, such as the management, who may change at any time during the process. Some risk stakeholders may […]
Risk monitoring
Posted by SkillMaker in Dec, 2013
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What is Risk monitoring? Risk monitoring is the process which tracks and evaluates the levels of risk in an organisation. As well as monitoring the risk itself, the discipline tracks and evaluates the effectiveness of risk management strategies. The findings which are produced by risk monitoring processes can be used to help to create new […]
Risk management
Posted by Peter Baskerville in Dec, 2013
What is Risk management? Risk management is the process of identifying, evaluating and prioritising risks, then identifying and taking steps to minimise these risks. What is Risk management like? Risk Management is like the safety features in a car. When you are out driving, you will encounter bends in the road or other problems which […]
Risk management tools and techniques
Posted by SkillMaker in Dec, 2013
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What are Risk management tools and techniques? Risk management tools and techniques are the things and ideas which are used to help to control risk in a company. They can help an organisation to identify, evaluate, reduce or remove risk, so that these risks will not have as much of a potential impact onto that […]
Risk identification
Posted by SkillMaker in Dec, 2013
What is Risk identification? Risk identification is the process of spotting, recognizing or classifying potential risks which may affect an organisation. Risk identification can help a company to be prepared if these risks occur. This is one of the early stages of the risk management process. What is Risk identification like? Risk identification is like […]
Risk context
Posted by SkillMaker in Dec, 2013
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What is the Risk context? In order to develop a risk management strategy, an organisation must begin by establishing the risk context. The risk context should take into account both the internal and external set of circumstances or rules within which the organisation is operating. Creating a proper risk context can help an organisation to […]
