Chapter One- Large Scale Organisation 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 corporation
Is owned and based in one country and operates in many countries throughout the world.
Corporation
Is owned by shareholders and aims to make a profit.
Shareholder
Is any person who owns shares in a company.
Government business enterprise
Is government owned and operated.
Government departments
Are in three levels. Federal, state and local.
Not for profit organisation
Its main objective is not to make a profit but to help others. Usually they are charities.
Economic growth
Refers to the total monetary value of all goods and services produced in a country over one year.
Exports
When a good or services is sent away to other countries to be used or purchased.
Imports
When a good or service is brought in to be used or purchased.
Balance of payments
Is a record of a country’s trade and financial transactions with the rest of the world.
Invention
Is 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.
