1. STIR WORK SETTINGS (Chapter 2) THE PUBLIC SECTOR The public sector is made up of the following Three level of government - local, state and federal Statutory authorities or public enterprises that carry out work for the government – consumer affairs, ombudsmen

2. STIR The public sector controls and regulates the business environment and supports the infrastructure of business activity Award wages OH&S regulations Rights Anti discrimination laws The public sector is also a producer in service areas such as Education Housing Employment Meteorology Police fire fighters.

3. STIR Employment in the public sector has changed in recent years and now you are no longer safe just by being employed in the public sector The public sector changes are demanding more cost effective operations and performance based indicators which are now included into contracts. My experience At the previous school I worked at they were implementing performance indicators. The teachers were bombarding the principal and anyone with authority who would listen, with units created, student work that excelled to norms, and any initiative they had created. It was hilarious to watch but the reality is this may be something I would have to in future to keep my job and you may have to think about as future employees.

4. STIR You need to be aware and able to discuss what qualities you have what skills you possess the outcome of tasks undertaken and how they improve your work place. You need to be able to sell yourself and understand who you are and what you are actually worth as an employee. If you cannot do this you may lose your job.

5. STIR THE PRIVATE SECTOR The private sector is made up of business owned privately, by shareholders, investors, companies and other non- government bodies. These include Sole traders Partnerships Franchises Companies Trusts Cooperatives Incorporated associations

6. STIR Sole traders Sole traders or sole proprietors are the simplest form of the private sector and least costly to set up. With sole traders the business is owned and managed by one person, who can employ others. The sole trader is entitled to all profits and bears the legal and financial risks of the business. A sole trader faces unlimited liability for the debts of the business.

7. STIR Partnerships Has usually between 2 and 20 owners who make an agreement to operate together The terms are set out formally and define the share of profits and how disputes between partners will be resolved Partnerships can employ other people With partnerships there are more resources and finance than with sole traders

8. STIR Franchises A franchise offers a person a licence to market the products of a larger producer Gives the franchisee a business advantage of selling a product that is already recognised Franchises offer back up of expertise in business organisation, training, staff and advertising Jims mowing = company responsible for training, staff and advertising they take phone calls they tell you where the jobs are and provide ongoing jobs for you sell you a trailer with their business name on it You pay a % of the income to them – a service fee - you keep the rest

9. STIR Companies Companies are incorporated – they exist separate from their owners This limits the liability from the owner to the company If a company falls into debt it is the companies role to pay it back not the individuals A business will be liquidated and assets sold to pay off debts rather than your house and other assests PTY – proprietary companies have between 2 to 50 share holders Sole traders and partnerships often create proprietorships Have fewer legal responsibilities such as they do not have to make an annual report on profits If you want to go on leave you just ask the boss LTD – limited companies can be either privately owned or publicly owned Have more legal responsibilities If you want to go on leave you need to fill in paperwork and wait for approval from some one higher up

10. STIR Trusts Where one person or body is in charge of distributing assets, usually money, to a person on behalf of another The trustee usually a solicitor, is the owner of the property and is liable for the debts it incurs Unlike companies a trust is not separate from the owner and if the debts become too high you may have to sell your own house and assets to cover the costs Big businesses that have many financial investors would set up their business as a trust

11. STIR Cooperatives Cooperatives are usually set up by people who have similar goals and interests for mutual benefits. These are part of the incorporated sector and are controlled by different laws of companies Co-ops can include shared housing decision making and money collection to pay for things such as maintenance and estate up keeping

12. STIR Incorporated associations Some private-sector businesses are non-profit making in nature and exist to provide a specific community service These organisations are set up similar to a limited company so that the debts incurred do not make the owners liable Most coops rely on volunteer workers an their for have less control over workers as they work for free Coops are governed by different laws to companies

13. STIR SELF EMPLOYMENT You don’t have to be an organisation or managed by others Self employment is an option for many enterprising and skilled people Successful self employment should meet these criteria the person must supply a product or service that is in demand A person must have the skills of a small-business manager Too frequently small-businesses fail because not enough work has gone into the business side of the service

14. STIR A business idea must be evaluated in a business plan and include the following how enterprising are you location of business availability of supplies expenses and pricing market research competition marketing- including advertising finance – including cash flow statements

15. STIR A self-employed person needs a strong personal commitment as well as knowledge in these areas record-keeping book-keeping selling time-management communication customer service legal issues research locating reliable advice

16. STIR VOLUNTARY EMPLOYMENT Voluntary work takes place in a normal work type setting and consists of work that is potentially paid work – but it is done without payment Approx 1 million (over ¼ of Victorias population) regularly undertake voluntary work Most people are under 35 and majority under 25 years old They are equally distributed between men and women Volunteers are usually centred around welfare groups, community services, sports and fundraising They are generally motivated by altruism (doing a good deed) and interest They also derive benefit by staying touch with the community, gaining life experiences that will aid in career choices and learning new work skills Focus questions page 27 Case studies pp 28 – 30 manual Pp 23 – 32 student manual Pp 40 – 46 student manual