Chapter 1 LSO In context Flashcards
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 a Organisation
An Organisation is two or more people working together to achieve an objective.
Multinational corporation
A Multinational corporation is owned and based in one county and operates in many countries throughout the world.
A shareholder
Is any person who owns shares in a company.
A Corporation
Is owned by shareholders and aims to make a profit.
Vision statement
States what the organisation aspires to become.
Mission statement
Expresses why an organisation exist, it’s purpose and how it will operate.
Objective
Is a desired goal, outcome or specific result that an organisation intends to achieve.
Invention
Is the development of something new
Innovation
Occurs when something already established is improved apon
Research and development
Refers to activates undertaken to:
Improve existing products
Create new products
Infrastructure
Refers to highways, railways, airports, communications systems, educational and health facilities, wate, gas and electrical suppliers.
Downsizing
Involves workplace staff reductions, with the elimination of jobs and positions.
Outsourcing
Is the contracting of some organisations operations to outside suppliers.
Internal enviroment
Includes all those things over which the organisation has some degree of control
External environment
Includes those things over which the business has little control. It may be divided into an operating environment and a macro environment.
An organisations Operating environment
Refers to the outstand factors with which the organisation directly interacts in the course of conducting it’s business
Customers
Are the buyers or users of the products of a large-scale organisation.
Competitors
Are the 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.
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 economy system
Effectiveness
Is the degree to which an organisation has achieved it’s stated objectives
Efficiency
Refers to how well an organisation uses resources to achieve objectives.
Number of sales
Measures the number of products sold.
Percentage of market share
Is the proportion of the total market that a business has, expressed as a percentage
The rate of productivity growth
Measures the change in productivity in one year compared to the previous year.
A customer survey
Measures how satisfied customers are with the organisations performance
A staff survey
Measures how satisfied staff are within the organisation.
Staff turnover
Measures the number of staff who are leaving the organisation.
Customer complaints
Indicate whether or not customers are satisfied with the performance of the organisation.
The level of wastage
Measures the amount of waste created ny the production process.
The number of workplace accidents
Indicates how safe the workplace is for employees.
Benchmarking
Occurs when an organisation measures it’s 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 it’s activities.
Social responsibility
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.
