Posters
ECONOMIC AND MANAGEMENT SCIENCES GRADES 7–9
Also available in Afrikaans
BUSINESS STUDIES GRADES 10–12
RESOURCES
Also available in Afrikaans
Labour Relations Act No. 66 of 1995 (LRA) Forms of ownership Sole trader Partnership Company Government 12 Owners Name Continuity Liability Capital 1 owner No limitations Limited Unlimited
Contributed by the owner (own or borrowed capital)
Owner gets all the profits Easy to start Easy to transfer ownership
Advantages
Owner can form close relationships with staff and customers
Owner can make decisions quickly and adapt easily to changes
Owner has full control over all aspects of the business
Funds could be limited as the owner is the only contributor of capital
Disadvantges
Business expansion could be limited because of small amount of capital available
Business comes to an end if the owner dies
Unlimited liability – personal possessions of the owner can be used to cover the debts of the business
Owner is soley responsible for all management issues and decision-making and mistakes made
2 – unlimited partners No limitations Limited Unlimited Contributed by partners
More money available as all partners contribute to the capital
Responsibility of debts, costs and decision making is shared
Variety of skills is available to the business
Partnership is easy to form and dissolve
Profits have to be shared
Partners’ personal possessions may be used to pay the debts of the business
Decision making might be slow as all partners must be consulted
One partner’s mistake affects all the partners
If a partner leaves or dies, the partnership is dissolved
1 – unlimited shareholders
Private – (Pty) Ltd Public – Ltd
Unlimited Limited
Contributed by shareholders by selling shares
Large amounts of capital can be raised
Shareholders’ personal possessions cannot be used to pay the debts of the business
Business continues even if a shareholder leaves or dies
Anybody who buys 100 shares can be a shareholder
Many strict legal requirements and rules must be followed to start the business and list it on the JSE
Formation and administration costs are high
Companies have to pay a lot of tax
Many decisions are made by management and not shareholders
Money needed to start a business
Using knowledge, skill and effort to start a business
Physical, intellectual or creative human effort
Materials that come
from nature including land, air and water
Business
Pays for factors of production such as salaries
Provides factors of production such as labour
Pays for services and goods consumed
Household 12 Supply
10 8 6 4 2 0
500 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Quantity
10 8 6 4 2 0
500 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Quantity
The circular flow Price theory
Demand curve for bread in South Africa Price
Demand
R1,00 R2,00 R3,50 R4,00 R5,00 R6,50 R7,00 R8,00 R9,50
R10,00 R11,00
Supply curve for bread in South Africa Price
R1,00 R2,00 R3,50 R4,00 R5,00 R6,50 R7,00 R8,00 R9,50
R10,00 R11,00
Quantity demanded 10 000
9 000 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 500
Purpose: Regulates dispute resolution and the rights of employees and employers in the workplace
Skills Development Act No. 97 of 1998 (SDA)
Purpose: Develops the skills of all people in South Africa to improve productivity
Nature
Improves skills and potential earnings of the current workforce
Improves standard of living by increasing earning potential
Increases investment in education and training
Increases employment opportunities for previously disadvantaged individuals
Advantages Employers
Improves productivity as employees are better trained
Increases competitiveness of the business
Increases opportunities for development of skills
Quantity supplied 500
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
10 000 Capital Entrepreneurship
Factors of production Labour
Natural resources
10 12
8 6 4 2 0
Market equilibrium graph for bread in South Africa Price
Demand Supply
E
Quantity demanded
R1,00 10 000 R2,00 R3,50 R4,00 R5,00 R6,50 R7,00 R8,00 R9,50
500 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Quantity
R10,00 R11,00
9 000 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000
Dispute resolution
Quantity supplied
500
1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000
500 10 000
Poster pack (10 posters and Teacher’s Guide) Poster 1: Names and types of accounts Poster 2: Cash journals (services) Poster 3: Cash journals (retail) Poster 4: General Ledger Poster 5: Debtors Poster 6: Creditors
Poster 7: The accounting cycle Poster 8: Forms of ownership Poster 9: The circular flow Poster 10: Price theory Teacher’s Guide
Plakkaatstel: (10 Plakkate en Onderwysersgids) Plakkaat 1: Name en soorte rekeninge Plakkaat 2: Kontantjoernale (Diens)
Plakkaat 3: Kontantjoernale (Kleinhandel) Plakkaat 4: Algemene grootboek Plakkaat 5: Debiteure Plakkaat 6: Krediteure
Plakkaat 7: Die rekeningkundige siklus Plakkaat 8: Ondernemingsvorme Plakkaat 9: Die kringloop Plakkaat 10: Prysteorie Onderwysersgids
978 0 19 040921 0 978 0 19 042583 8 978 0 19 042532 6 978 0 19 043248 5 978 0 19 042967 6 978 0 19 044114 2 978 0 19 042952 2 978 0 19 043394 9 978 0 19 043276 8 978 0 19 043700 8 978 0 19 044108 1 978 0 19 042373 5
978 0 19 040482 6 978 0 19 044224 8 978 0 19 042559 3 978 0 19 043540 0 978 0 19 042801 3 978 0 19 043849 4 978 0 19 043536 3 978 0 19 042645 3 978 0 19 043579 0 978 0 19 044016 9 978 0 19 043782 4 978 0 19 042748 1
Poster pack: (10 posters and Teacher’s Guide) Poster 1: Business functions Poster 2: National Credit Act
Poster 3: Consumer Protection Act
Poster 4: Basic Conditions of Employment Act Poster 5: Labour Relations Act Poster 6: Team dynamic theories
Poster 7: Compensation for Occupational Injuries and Diseases Act
Poster 8: Skills Development Act Poster 9: Employment Equity Act
Poster 10: Broad-Based Black Economic Empowerment Act
Teacher’s Guide
Plakkaatstel: (10 Plakkate en Onderwysersgids) Plakkaat 1: Besigheidsfunksies Plakkaat 2: Nasionale Kredietwet
Plakkaat 3: Wet Op Verbruikersbeskerming Plakkaat 4: Wet Op Basiese Diensvoorwaardes Plakkaat 5: Wet Op Arbeidsverhoudinge Plakkaat 6: Spandinamiekteorieë
Plakkaat 7: Wet Op Vergoeding vir Beroepsbeserings en Siektes
Plakkaat 8: Wet Op Vaardigheidsontwikkeling Plakkaat 9: Wet Op Gelyke Indiensneming
Plakkaat 10: Wet Op Breëbasis Swart Ekonomiese Bemagtiging
Onderwysersgids
978 0 19 040545 8 978 0 19 042808 2 978 0 19 042687 3 978 0 19 043858 6 978 0 19 044015 2 978 0 19 043932 3 978 0 19 042817 4
978 0 19 042678 1 978 0 19 042840 2 978 0 19 043760 2
978 0 19 043187 7 978 0 19 043365 9
978 0 19 040353 9 978 0 19 043575 2 978 0 19 043099 3 978 0 19 042932 4 978 0 19 042336 0 978 0 19 043989 7 978 0 19 044111 1
978 0 19 044024 4 978 0 19 043988 0 978 0 19 043963 7
978 0 19 043945 3 978 0 19 042348 3
Employer and employees negotiate
Collective bargaining with trade unions
Mediation between employers and trade unions
Legally-binding arbitration
Businesses pay 1% of their payroll value to SARS
SARS
administers this fund
Labour inspector will monitor compliance with SDA
80% goes to SETA
20% goes to National Skills Fund (NSF)
SETA is responsible for training in the workplace
NSF drives skills development for designated groups
Businesses provide opportunities to upskill employees
Businesses provide opportunities to upskill employees
Business develops
an Employment Equity Plan
Nature
States the rights of employers and employees
Provides procedures for dispute resolution
Promotes good industrial relations among organised labour, businesses and the state
Affords previously disadvantaged individuals the chance to be trained
Employees
Increases skills required in the workplace
Acknowledges skills already acquired Promotes self-employment Makes people employable by increasing skills
Promotes constant development Disadvantages Employers
Reduces working hours during training
Requires personnel to implement and manage training
Wastes time and money training employees who leave the business
Employees
Employees depend on the employer for education and training
Compliance and penalties Compliance and penalties
Business submits
Employment Equity Plan to the Department of Labour
Labour inspector checks that the business’s plan complies to the law
Failure to comply with the EEA may result in the following: Labour inspector issues a compliance order
Business charged in Labour Court Business pays R500 000 in fines (first offence) Business pays R900 000 in fines (after fourth offence)
Business pays compensation to employees
National Skills Developments Strategy National
Qualifications Framework (NQF) framework for learning achievements
Sector Education and Training
Authorities (SETAs) monitor and assess training in each learning sector
South African Qualifications Authority (SAQA) oversees the implementation and development of the NQF
Education and
Training Quality Assurance (ETQA) qualifies trainers, produces course materials and checks that training is NQF compliant
National
Standards Bodies (NSB) makes
recommendations on the standards of NQF to SAQA
Standard Generating Bodies (SGB) develop standards and qualifications for each
learning area
Employment Equity Act No. 55 of 1998 (EEA)
Purpose: Achieves diversity and equity in the workplace
Nature
Ensures equal representation of all population groups in all occupational categories
Creates equal job opportunities for all
Promotes equal opportunities for all employees
Prevents discrimination of individuals based on:
o race o gender o pregnancy
o marital status
o disability o religion
o HIV status o culture o language o ethnicity o social status o sexual
orientation
Advantages
Promotes equal opportunities in the workplace
Promotes diversity in the workplace
Promotes fair treatment of all employees
Prevents discrimination States acceptable employment practices
Encourages communication between employee and employer
Encourages businesses to implement an Employment Equity Plan
Disadvantages
Sees businesses employ individuals who are not suitable
Sees businesses appoint and promote inexperienced employees
Leads to unfair advancement of certain employees
Costs a lot to implement Takes time to develop an Employment Equity Plan
Viewed as discriminatory and hampering economic progress
112 Oxford University Press South Africa
OxfordSASchools
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Employees have the right to:
fair labour practices form and join trade unions request the presence of a trade union representative in a disciplinary hearing
be an office bearer or trade union representative
organise collective bargaining
reasonable time off work with pay to fulfil their trade union duties
legally strike, picket, or oppose a lockout
Compliance and penalties
Allows employees or their trade union representatives involvement in decisions regarding conditions of employment
Employers may not discriminate against union members or strikers
Employers may not be obligated to pay an employee for days spent striking
Employers have the right to:
form and join employers’ organisations organise collective bargaining be an employer’s organisation representative
institute a lockout during disputes
Advantages Allows employees to participate in decision-making
Promotes orderly collective bargaining
Grants basic labour rights to employees
Specifies guidelines on correct and fair disciplinary procedures
Specifies guidelines on correct and fair dismissal procedures
Allows for mediation of better working conditions
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