Good luck everybody!!! I know you'll all smash it!!hi guys can someone please explain he difference between hedging/derivatives in finance and awards/minimum wage/enterprise/contracts in HR please t
thank you
So for hedging v derivatives --> hedging is just anything a business does to minimise exchange rate fluctuations (denominating in one currency/using foreign subsidiaries etc.) whereas a derivative is a special kind of hedging in which you purchase a financial instrument either a forward exchange, options or swaps contract. Let me know if you need definitions for these.
Employment contracts have many kinds,
the 10 NES and the minimum wage is the most basic safety net for employment
then a modern award is a set award for an industry which sets out the minimum standards and pay rates
an enterprise agreement is one specific to that organisation setting out the same things (these rates differ to award and the minimum because of the nature of the job and the need to retain and attract employees)
a common law contract is between the organisation and one specific individual
Thats the main differences and hopefully you can make connections between those differences and the other features of each
Good luck
