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Business Management > Chapter 1 - Large Scale Organisations In Context > Flashcards

Chapter 1 - Large Scale Organisations In Context Flashcards

0
Q

What is an organisation?

A

Where two or more people work together to achieve an objective

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1
Q

How do you measure a large-scale organisation?

A 
No. of employees- more than 200✔️
Revenue - in the millions✔️
Assets- more than 200 million✔️
Also:
Holds large percentage of market share
Size of operations - multinational to transnational
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2
Q

Which organisations are under the public sector?

A
  • government departments
  • government business enterprises (can be private)
  • statutory authorities
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3
Q

Which organisations are under the private sector?

A
  • charities and foundations
  • public companies
  • private companies
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4
Q

Describe the unique nature of large-scale organisations

A
  • provide infrastructure that supports community and other businesses
  • government influence
  • market influence
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5
Q

Under the board of directors and the managing directors, what are the management functions

A
  • operations
  • marketing
  • finance
  • human resources
  • research and development
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6
Q

Describe the importance of LSOs

A
  • provide employment and income for employees
  • pay taxes to government
  • create value which encourages economic growth
  • create competition which leads to cheaper prices
  • provide income for owners
  • exports products which helps decrease our trade deficit
  • assist in the development and use of technology
  • invest in research and development
  • improve quality of life
  • provide a wider range of goods
  • undertake investment which leads to economic growth
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7
Q

The types of LSOs

A
  • corporations
  • government departments
  • not-for-profit organisations
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8
Q

Positive contributions of LSOs

A
  • economic growth
  • employment
  • exports
  • infrastructure growth
  • research and development
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9
Q

Negative impacts of LSOs

A
  • downsizing
  • outsourcing
  • damage to environment (*try to give examples)
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10
Q

List the factors of the operating environment

A
  • customers (buyers or users of the goods or services)
  • suppliers and creditors (goods and services/finance)*important relationship
  • competitors (offers rival goods or services)
  • lobby groups (trade unions, consumer groups (ACA), specific issue/interest groups)
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11
Q

Factors of the macro environment

A
  • social attitudes (attitudes of the public about specific issues e.g. environmental, ethical behaviour)
  • political influences ( state and federal government policies impact on LSOs e.g GST, OH&S, tunnel, paid parental leave)
  • economic influences (changes in economic activity, interest rates, exchange rates, inflation, global markets, unemployment, affects consumer spending > affects LSOs profit)
  • legal influences (follow laws, must be aware of legislation changes e.g. environmental, OH&S, consumer protection, industrial relations)
  • technological developments (increase changes to technology e.g. Internet, online purchases >smaller > efficient > faster
  • globalisation (operate in a world-wide market)
  • environmental
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12
Q

What are performance indicators and how do LSOs use them?

A

Are specific criteria used to measure the efficiency and effectiveness of the organisations performance.

They are used to determine how a business is going and evaluating the organisations objectives and if they are meeting them.

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13
Q

What is effectiveness?

A

Is the ‘degree’ to which an organisation has achieved its stated objectives

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14
Q

What is efficiency?

A

Refers to ‘how well’ an organisation uses resources to achieve objectives

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15
Q

List the financial performance indicators

A
  • net profit figures (is what remains when expenses are deducted from the revenue earned, ‘the bottom line’)
  • percentage of market share (is the proportion of the total market that a business has, expressed as a percentage)
  • rate of productivity growth (measures the changes in productivity in one year compared to the previous year)
16
Q

List the non-financial performance indicators

A
  • customer satisfaction surveys (how satisfied customers are with the organisations performance)
  • staff satisfaction survey (measures how satisfied staff are within the organisation)
  • number of customer complaints (indicates whether or not customers are satisfied with the performance of the organisation)
  • level of wastage (amount of waste created by the production process)
  • number of workplace accidents (indicates how safe the workplace is for employees e.g. Near misses, fatalities, minor/major injuries)
  • benchmarking ( occurs when am organisation measures its performance against that of other leading organisations (in that industry) that are known for their excellence)
17
Q

What is a stakeholder?

A

A stakeholder is either a group or an individual who interacts with the organisation and has a vested interest in its activities.

18
Q

List the stakeholders and their expectations

A

Shareholders
- own part of the organisation, purchase shares and want the organisation to make a profit
Management
- is responsible for the running of the organisation and making sure it is profitable
- need to be aware of ethical and social responsibilities
Unions
- represent employees in many workplaces in Australia, negotiate fair pay and work conditions on behalf of employees
Employees
- vital to organisations, they are the ones that manufacture or produce the goods or services
- organisation depend upon the skills and commitment of employees, need to be trained, paid fairly and treated equally
Customers
- expect to purchase quality products at a reasonable price, expect high level of service
- also want to purchase from ethically and social responsible organisations
Suppliers
-provide raw materials that will be used in the products and services
- need to be socially and ethically responsible
Members of the community
- may have particular views/concerns which may be environmental damage related

19
Q

Discuss the conflict between stakeholders

A

Different groups want different outcomes from organisations, examples; employees and unions want to increase pay and conditions, managers want to keep cost down to keep profits up but also need to keep employees committed and motivated, shareholders want to make a profit, so keep costs down, therefore, do not necessarily want to increase the pay of employees

20
Q

What is the ‘triple bottom line’?

A

Refers to the economic, social and environmental performance of an organisation.

Business Management (3 decks)

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