Chapter 1- Large Scale Organisations In Context Flashcards
What is a multinational corporation?
A multinational corporation is owned and based in one country and operates in many countries throughout the world.
What is a mission statement?
The mission statement expresses why an organisation exists, it’s purpose and how it will operate.
What is a vision statement?
The vision statement states what the organisation aspires to become.
What is an organisation?
An organisation is two or more people working together to achieve an objective.
What is business competitiveness?
The ability of an organisation to sell products in a market
What is a Large-Scale Organisation?
A large-scale organisation employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million.
What is efficiency?
A measure of how well an organisation uses resources to achieve objectives
What is Effectiveness?
The degree to which an organisation has achieved its stated objectives.
What are organisational objectives?
The overall goals, purpose and mission of a business that have been established by its management and communicated to its employees.
What is an organisations Vision?
A Vision Statement defines what your business will do and why it will exist tomorrow and it has defined goals to be accomplished by a set date. A Vision Statement takes into account the current status of the organization, and serves to point the direction of where the organization wishes to go.
What is productivity?
A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
What is a strategy?
The actions that an organisation takes to achieve specific objectives.
What is flexibility?
The ability of a system, such as a manufacturing process, to cost effectively vary its output within a certain range and given timeframe.
What is the board of directors?
The board of directors are the main shareholders of a company that decide the direction of an organisation.
What is the Managing director and what does he do.
The managing director is the main person on the board of directors, and organises the meetings, votes and other tasks.
What is a corporation?
An organisation owned by shareholders and aims to make profit.
What is a share holder?
Any person who owns shares in a company.
What is a government business enterprise?
It is a government own organisation.
What is a government department?
Government departments are sections of the government that provide essential community services, such as health, education and welfare.
Define not-for-profit organisation.
Organisations such as charities or foundations that main purpose is to provide a good or service and help stop a social problem and not make profits.
What is an export?
It is a product that is getting sold from Australia to another country.
What is an import?
A good or service that is brought from another country to Australia.
Define balance of payments.
A record of a country’s trade and financial transactions with the rest of the world
Define invention.
The development of something new
