Chapter 1 - Large Scale Organisations 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 Coporation
is owned and based in one country and operates in many countries throughout the world
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
a corporation which is government owned and operated
Government Department
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
Organisation
two or more people working together to achieve an objective
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 administrator in charge of managing a non-profit or for-profit organisation
Not-for-profit Organisation
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
Exports
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
Imports
A good or service brought into one country from another
Balance of Payments (BOP)
a record of a country’s trade and financial transactions with the rest of the world
Invention
the development of something new
Innovation
occurs when something already established is improved upon
Infrastructure
refers to highways, railways, airports, communications systems, education and health 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 employee’s’ 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
Objective
a desired goal, outcome or specific result that an organisation intends to achieve
Vision Statement
states what the organisation aspires to become
Mission Statement
expresses why an organisation exists, its purpose and how it will operate
Strategies
the actions that an organisation takes to achieve specific objectives
Economic Growth as measured by GDP
refers to the total monetary value of all goods and services produced in a country over one year
Research and Development
refers to activities undertaken to:
improve existing products
create new products
Downsizing
involves workplace staff reductions, with the elimination of jobs and positions
Outsourcing
Outsourcing means that some part of an organisation’s function is transferred to an external person or organisation
Internal Environment
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
External Environment
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
Operating Environment
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
Customers
are the buyers or users of the products of a large-scale organisation
Suppliers
are the people and businesses that supply resources to an organisation, so that it can conduct its operations
Competitors
are other organisations that offer rival products or services
Lobby Groups
are groups of people who attempt to directly influence or persuade an organisation to adopt particular policies
Macro Environment
is made up of the broad factors in the economy and society within which the organisation operates
Effectiveness
is the degree to which an organisation has achieved its stated objectives
Efficiency
efers to how well an organisation uses resources to achieve objectives
Performance Indicators
are specific criteria used to measure the efficiency and effectiveness of the organisation’s performance
Net Profit
is what remains when expenses are deducted from the revenue earned
Percentage of Market Share
is the proportion of the total market that a business has, expressed as a percentage
Rate of Productivity
measures the change in productivity in one year compared to the previous year
Customer Survey
measures how satisfied customers are with the organisation’s performance
Staff Survey
measures how satisfied staff are within the organisation
Staff Turnover
measures the number of staff who are leaving the organisation
Level of Wastage
measures the amount of waste created by the production process
Benchmarking
measuring a business’ performance against that of other leading organisations known for their excellence
Stakeholders
are groups and individuals who interact with the organisation and have an interest in its activities
Corporate Social Responsibility
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
Triple Bottom Line
refers to the economic, social and environmental performance of an organisation
