Chapter 1 - Large Scale Organisation in Context Flashcards
Large-scale organisation
Employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million
Multinational corporation
Is owned and based in one country and operates in many countries throughout the world
Board of Directors
A group of individuals that are elected as, or elected to act as, representatives of the shareholders to establish corporate management related policies and to make decisions on major company issues
Managing Director
Describes the position of the most senior corporate officer, executive, or administer in charge of managing a non-profit or for-profit organisation
Corporation (or company)
Is owned by shareholders and aims to make a profit
Shareholder
Is any person who owns shares in a company
Government Business Enterprise
Is government owned and operated
Not-for-profit organisation
Operate to provide social, educational, religious or other benefits, rather than the sole pursuit or objective of earning a profit
Economic Growth
When the real value of goods and services increases over a set period of time
Exports
Goods or services sold by one country to individuals, businesses or governments in another country with the aim of extending sales and market penetration
Imports
A good or service brought into one country from another
Balance of payments
Is a record of a country’s trade and financial transactions with the rest of the world
Invention
Is the development of something new
Innovation
Occurs when something already established is improved upon
Infrastructure
Refers to highways, railways, airports, communications systems, education and heath facilities, water, gas and electricity supplies
Globalisation
Is the effect of hi-tech communications, lower transport costs and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system
Unions
Represent employees in many workplaces in Australia. They attempt to negotiate favourable pay and work conditions on the employees’ behalf
Conflict of Interest
When a person takes advantage of a situation or piece of information for his or her own gain rather than for the employee’s interests
Organisation
Is two or more people working together to achieve an objective
