← How a large business responds to external factors
Legal obligations (every paper)
Know four laws, what each requires, and one positive plus one negative impact of complying.| Area | What it requires | Cost of complying |
|---|---|---|
| Resource management | Consents, monitoring and reporting of environmental effects | Consent fees, delay, restricted expansion |
| Employment relations | A written agreement for every employee; good faith | Administration; less flexibility |
| Health and safety | Identify and control hazards; keep records | Training, equipment, supervision time |
| Consumer law | Goods of acceptable quality; no misleading claims | Refunds, repairs, careful marketing sign-off |
Positive impacts of compliance are real, not just avoided fines: safer workplaces cut absence and turnover, and honest marketing builds the brand loyalty these papers keep naming as a criterion.
The Privacy Act, a fifth law worth having ready
- Businesses collecting personal information (customer data, student data, health records) must handle it according to the Privacy Act — collecting only what is needed, storing it securely, and using it only for the stated purpose.
- Cost of complying: system and process investment in secure storage, staff training, and potentially slower processes if consent must be actively sought.
- Positive impact: customer and stakeholder trust that personal information is handled responsibly, which matters especially for a business collecting sensitive data (health, education, financial).
Practice for this standard covers the whole topic — flashcards and quiz.