Chapter 1 LSO In context

Question 0

What is a large scale Organisation

Answer 0

A large scale Organisation employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million.

Question 1

What Is a Organisation

Answer 1

An Organisation is two or more people working together to achieve an objective.

Question 2

Multinational corporation

Answer 2

A Multinational corporation is owned and based in one county and operates in many countries throughout the world.

Question 3

A shareholder

Answer 3

Is any person who owns shares in a company.

Question 4

A Corporation

Answer 4

Is owned by shareholders and aims to make a profit.

Question 5

Vision statement

Answer 5

States what the organisation aspires to become.

Question 6

Mission statement

Answer 6

Expresses why an organisation exist, it’s purpose and how it will operate.

Question 7

Objective

Answer 7

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

Question 8

Invention

Answer 8

Is the development of something new

Question 9

Innovation

Answer 9

Occurs when something already established is improved apon

Question 10

Research and development

Answer 10

Refers to activates undertaken to:
Improve existing products
Create new products

Question 11

Infrastructure

Answer 11

Refers to highways, railways, airports, communications systems, educational and health facilities, wate, gas and electrical suppliers.

Question 12

Downsizing

Answer 12

Involves workplace staff reductions, with the elimination of jobs and positions.

Question 13

Outsourcing

Answer 13

Is the contracting of some organisations operations to outside suppliers.

Question 14

Internal enviroment

Answer 14

Includes all those things over which the organisation has some degree of control

Question 15

External environment

Answer 15

Includes those things over which the business has little control. It may be divided into an operating environment and a macro environment.

Question 16

An organisations Operating environment

Answer 16

Refers to the outstand factors with which the organisation directly interacts in the course of conducting it’s business

Question 17

Customers

Answer 17

Are the buyers or users of the products of a large-scale organisation.

Question 18

Competitors

Answer 18

Are the organisations that offer rival products or services.

Question 19

Lobby groups

Answer 19

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

Question 20

Macro environment

Answer 20

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

Question 21

Globalisation

Answer 21

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 economy system

Question 22

Effectiveness

Answer 22

Is the degree to which an organisation has achieved it’s stated objectives

Question 23

Efficiency

Answer 23

Refers to how well an organisation uses resources to achieve objectives.

Question 24

Number of sales

Answer 24

Measures the number of products sold.

Question 25

Percentage of market share

Answer 25

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

Question 26

The rate of productivity growth

Answer 26

Measures the change in productivity in one year compared to the previous year.

Question 27

A customer survey

Answer 27

Measures how satisfied customers are with the organisations performance

Question 28

A staff survey

Answer 28

Measures how satisfied staff are within the organisation.

Question 29

Staff turnover

Answer 29

Measures the number of staff who are leaving the organisation.

Question 30

Customer complaints

Answer 30

Indicate whether or not customers are satisfied with the performance of the organisation.

Question 31

The level of wastage

Answer 31

Measures the amount of waste created ny the production process.

Question 32

The number of workplace accidents

Answer 32

Indicates how safe the workplace is for employees.

Question 33

Benchmarking

Answer 33

Occurs when an organisation measures it's performance against that of other leading organisations known for their excellence.

Question 34

Stakeholders

Answer 34

Are groups and individuals who interact with the organisation and have an interest in it's activities.

Question 35

Social responsibility

Answer 35

Is the obligations a business has over and above it's legal responsibilities to the well being of employees and customers, shareholders and the community as well as the environment.