Area Of Study 1

Question 0

Human resource function

Answer 0

All about people employed by the organisation. Training is an ongoing person in particular skills. With the important factor of employee satisfaction which ends in customer satisfaction.

Question 1

Operations function

Answer 1

About making the product or service of quality in order to make sales. How a product is made and with specific materials. What machinery is used and the layout

Question 2

Marketing function

Answer 2

Includes product, price, promotion and placement. (The four p’s) for the extensive range for different customers needs and wants that need to be met.

Question 3

Characteristics of the public sector

Answer 3

Owned and operated by Government
Government Business Enterprise (GBE)
Government Departments eg. ATO

Question 4

Characteristics of Private Sector

Answer 4

Operated by board of directors, which exist to use resources efficiently.

Question 5

What is a public company under private sector ?

Answer 5

Listed on the Australian Stock Exchange for shareholders.

Question 6

What is a private company under private sector ?

Answer 6

Have PTY.LTD after their company name and exist for profit. You can not buy into these companies, therefore no shareholders.

Question 7

How can you determine charities and foundations + not for profit

Answer 7

All about the cause and raising awareness or donations. Not generated by profit for shareholders.

Question 8

LSO’s and objectives

Answer 8

• Goals or targets that an organisation is striving to achieve
• provide focus for future success
• clear direction for employees and management
• • financial or non financial
• inline with organisations mission and vision statement

Question 9

Lso’s and strategies

Answer 9

• allow organisation to outline tasks to achieve goal and success
• define a clear path for organisation
• financial or non financial

Question 10

Positive contributions to Australian economy

Answer 10

• provide jobs
• circulating money back into economy as they are earning money enabling them to purchase goods/services.
• undertake research + development to improve knowledge and create new organisations
• most infrastructure provided by LSO
• government don’t have to pay welfare instead receive their tax
• exports from Australia generates demand for AUD

Question 11

Negative contributions to Australian economy

Answer 11

• criticised for cutting workers to reduce costs
• outsourcing results in local job loss
• damage to environment through infrastructure eg. Power, transportation

Question 12

Characteristics of internal environment.

Answer 12

• refers to conditions within LSO
• affects performance
• eg. Management, employees, policies and processes. Including anything they have some degree of control over

Question 13

Characteristics of an external operating environment give examples

Answer 13

• refers to conditions outside the LSO
• includes things it has little control over
• direct affect or Impacts the LSO
• eg. Competitors, suppliers + customers

Question 14

Characteristics of Macro environment. Give examples.

Answer 14

• made up of broad factors in the economy and society
• LSO has no control
  Eg. Economic, social, political, technology

Question 15

What are performance indicators

Answer 15

Are used to evaluate the success of LSO.
Important to indicate how efficiently an organisation is using its resources or meeting objectives set. Criteria is financial or non financial, including staff and customer satisfaction

Question 16

Define the P.I Number of Sales

Answer 16

Allows LSO to evaluate performance
Organisation will be satisfied with an increase of sales over a long period of time, regardless if they have lower profits throughout a short term