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

Chapter 1 - Large Scale Organisations In Context Flashcards

1
Q

Large Scale Organisation

A

employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million

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2
Q

Multinational Coporation

A

is owned and based in one country and operates in many countries throughout the world

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3
Q

Corporation or Company

A

is owned by shareholders and aims to make a profit

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4
Q

Shareholder

A

is any person who owns shares in a company

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5
Q

Government Business Enterprise

A

a corporation which is government owned and operated

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6
Q

Government Department

A

Government Departments exist at all 3 levels of government (federal,state,and local). They provide essential community services, such as health,education and welfare. EG: The department of Education

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7
Q

Organisation

A

two or more people working together to achieve an objective

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8
Q

Board of Directors

A

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

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9
Q

Managing Director

A

describes the position of the most senior corporate officer, executive, or administrator in charge of managing a non-profit or for-profit organisation

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10
Q

Not-for-profit Organisation

A

their main purpose is to provide goods, services or funds to prevent a particular social situation or to continue their work for the benefit of the community

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11
Q

Exports

A

Exports are goods or services that are sold to another country. These are usually goods that a country produces more of than it needs. These products are sold to make money. Australia’s main exports are agricultural (products from the land) and mining products

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12
Q

Imports

A

A good or service brought into one country from another

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13
Q

Balance of Payments (BOP)

A

a record of a country’s trade and financial transactions with the rest of the world

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14
Q

Invention

A

the development of something new

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15
Q

Innovation

A

occurs when something already established is improved upon

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16
Q

Infrastructure

A

refers to highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies

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17
Q

Globalisation

A

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

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18
Q

Unions

A

Represent employees in many workplaces in Australia. They attempt to negotiate favourable pay and work conditions on the employee’s’ behalf

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19
Q

Conflict of Interest

A

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

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20
Q

Objective

A

a desired goal, outcome or specific result that an organisation intends to achieve

21
Q

Vision Statement

A

states what the organisation aspires to become

22
Q

Mission Statement

A

expresses why an organisation exists, its purpose and how it will operate

23
Q

Strategies

A

the actions that an organisation takes to achieve specific objectives

24
Q

Economic Growth as measured by GDP

A

refers to the total monetary value of all goods and services produced in a country over one year

25
Q

Research and Development

A

refers to activities undertaken to:
improve existing products
create new products

26
Q

Downsizing

A

involves workplace staff reductions, with the elimination of jobs and positions

27
Q

Outsourcing

A

Outsourcing means that some part of an organisation’s function is transferred to an external person or organisation

28
Q

Internal Environment

A

sometimes called the micro environment, refers to
conditions inside the organisation that affect its performance, such as manage- ment policies and processes. It includes anything the organisation has some degree of control over

29
Q

External Environment

A

refers to conditions outside the organisation and includes those things it has little control over. The external environment is made up of the macro environment and the operating environment

30
Q

Operating Environment

A

refers to the outside factors with which the organisation directly interacts in the course of conducting its business e.g. customers, suppliers, competitors, lobby groups

31
Q

Customers

A

are the buyers or users of the products of a large-scale organisation

32
Q

Suppliers

A

are the people and businesses that supply resources to an organisation, so that it can conduct its operations

33
Q

Competitors

A

are other organisations that offer rival products or services

34
Q

Lobby Groups

A

are groups of people who attempt to directly influence or persuade an organisation to adopt particular policies

35
Q

Macro Environment

A

is made up of the broad factors in the economy and society within which the organisation operates

36
Q

Effectiveness

A

is the degree to which an organisation has achieved its stated objectives

37
Q

Efficiency

A

efers to how well an organisation uses resources to achieve objectives

38
Q

Performance Indicators

A

are specific criteria used to measure the efficiency and effectiveness of the organisation’s performance

39
Q

Net Profit

A

is what remains when expenses are deducted from the revenue earned

40
Q

Percentage of Market Share

A

is the proportion of the total market that a business has, expressed as a percentage

41
Q

Rate of Productivity

A

measures the change in productivity in one year compared to the previous year

42
Q

Customer Survey

A

measures how satisfied customers are with the organisation’s performance

43
Q

Staff Survey

A

measures how satisfied staff are within the organisation

44
Q

Staff Turnover

A

measures the number of staff who are leaving the organisation

45
Q

Level of Wastage

A

measures the amount of waste created by the production process

46
Q

Benchmarking

A

measuring a business’ performance against that of other leading organisations known for their excellence

47
Q

Stakeholders

A

are groups and individuals who interact with the organisation and have an interest in its activities

48
Q

Corporate Social Responsibility

A

the obligations a business has to act ethically towards all stakeholders e.g. the responsibility for the wellbeing of employees, customers, shareholders and the community as well as the environment

49
Q

Triple Bottom Line

A

refers to the economic, social and environmental performance of an organisation

Business Managment (6 decks)

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