Understanding Business Legislation: Key Concepts for Compliance and Impact

In this video, we break down the essential aspects of legislation that every business must understand to stay compliant and avoid costly penalties. We cover the purpose, nature, impact, penalties, and compliance associated with key legislative acts, all while keeping the focus on how these laws affect your business operations.

Discover the acronym CAT (Cost, Admin, Time) to easily remember the potential negatives of any legislation on your business. Learn how compliance can lead to "happy days," while non-compliance can result in financial punishments, possible imprisonment, or even business shutdowns.

We'll also touch on how legislation is integrated into various business chapters like Human Resources and Industrial Relations, using real-world examples such as the Basic Conditions of Employment Act (BCEA), Labour Relations Act (LRA), and COIDA.

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00:00 - Introduction
01:00 - How to interpret the legislation
01:14 - What is the purpose of the legislation?
01:31 - The positives and negatives of the legislation (impact)
02:07 - C.A.T
03:15 - Compliance
03:33 - Non compliance and penalties (F.P.S = Financial - Prison - Shut down)
04:15 - Discriminatory Actions
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A special thanks to Phatu, Pexels, and the various IEB and CAPS textbook resources and their authors.

Track: Soulful — Dave Osorio [Audio Library Release]
Music provided by Audio Library Plus

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