Trade Unions and Business Functions in South Africa

Study Notes

Trade Unions

A trade union (or labor union) is an organization that protects employees' rights and interests.
They help improve working conditions, pay, and productivity.
They represent workers in disciplinary hearings and negotiations with employers.
They provide education, training, and legal advice.

Trade Unions in South Africa

South African trade unions have a history of fighting for equal rights for all workers.
Early unionization often faced challenges, like restrictions on strikes for black workers.
Significant events include strikes in the early 1900's and the formation of major organizations like SACTU and COSATU.
Full equality for black workers was achieved in 1994.
Key organizations include FEDUSA and COSATU.

Functions of a Business

Marketing: Understanding customer needs and wants, using the 4Ps (Product, Price, Place, Promotion), and advertisements.
Administration: Managing information systems (collecting, sorting, processing and storing data) and handling potential problems like data loss/leaks.
Human Resources: Ensuring staff happiness, qualifications, training, and growth. Addressing issues like conflict and demotivation.
Public Relations: Building a positive business image and relationships with customers through effective communication. Potential problems include negative publicity.
Finance: Managing and controlling money (budgeting, tracking cash flow) by recording and reporting to ensure financial health.
General Management: Coordinating the business's various functions by setting goals, planning, organizing, leading, and controlling.
Purchasing: Obtaining necessary goods and services at the right quality, price, and time.
Production: Ensuring quality products meet demands by controlling costs.

Balancing General Ledger Accounts

Balancing a general ledger involves finding the difference between debit and credit amounts for an account.
This ensures that each transaction has a corresponding debit and credit (double-entry bookkeeping).
If the debit and credit sides are equal, the account is balanced.
Balancing is done to verify that transactions are recorded on the double-entry system.

Description

This quiz explores the role of trade unions in protecting employee rights and improving working conditions, with a focus on South Africa's history and key organizations. It also covers the functions of a business, particularly in marketing and administration, essential for understanding economic frameworks.