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Business Management > Chapter One - Large Scale Organisations in Context > Flashcards

Chapter One - Large Scale Organisations in Context Flashcards

0
Q

What is a Large-scale Organisation?

A

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

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1
Q

What is an Organisation?

A

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

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2
Q

What is a Multinational Corporation?

A

A multinational corporation is owned and based in one country and operates in many countries throughout the world.

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3
Q

What is a Corporation (or company)?

A

A corporation is owned by shareholders and aims to make a profit.

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4
Q

What is a Shareholder?

A

A shareholder is any person who owns shares in a company.

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5
Q

What is a Government Business Enterprise?

A

A government business enterprise is government owned and operated. While it delivers community services it is run just like a company.

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6
Q

What is a Government Department?

A

Government departments exist on all three levels of government (federal, state and local). They provide essential community services, such as health, education and welfare.

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7
Q

What is an Objective?

A

An objective is a desired goal, outcome or specific result that an organisation intends to achieve.

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8
Q

What is a Vision Statement?

A

The vision statement states what the organisation aspires to become.

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9
Q

What is a Mission Statement?

A

The mission statement expresses why an organisation exists, its purpose and how it will operate.

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10
Q

What are Strategies?

A

Strategies are the actions that an organisation takes to achieve specific objectives.

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11
Q

What is an Invention?

A

An invention is the development of something new.

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12
Q

What is Innovation?

A

Innovation occurs when something already established is improved upon.

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13
Q

What is Research and Development?

A

Research and development refers to activities undertaken to:

  • improve existing products
  • create new products
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14
Q

What is Downsizing?

A

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

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15
Q

What is Outsourcing?

A

Outsourcing is the contracting of some organisational operations to outside suppliers.

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16
Q

What is the Internal Environment?

A

The internal environment includes all those things over which the organisation has some degree of control.

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17
Q

What is the External Environment?

A

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

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18
Q

What is the Operating Environment?

A

An organisation’s operating environment refers to the outside factors with which the organisation directly interacts in the course of conducting its business.

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19
Q

What are Customers?

A

Customers are the buyers or uses of the products of a large-scale organisation.

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20
Q

What are Suppliers?

A

An organisation’s suppliers are those organisations and individuals that supply resources to the organisation, allowing it to conduct its operations.

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21
Q

What are Competitors?

A

Competitors are other organisations that offer rival products or services.

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22
Q

What are Lobby Groups?

A

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

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23
Q

What is the Macro Environment?

A

The macro environment is made up of the broad factors in the economy and society within which the organisation operates.

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24
Q

What is Globalisation?

A

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.

25
Q

What is Effectiveness?

A

Effectiveness is the degree to which an organisation has achieved its started objectives.

26
Q

What is Efficiency?

A

Efficiency refers to how well an organisation uses resources to achieve objectives.

27
Q

What are Performance Indicators?

A

Performance indicators (PIs) are specific criteria used to measure the efficiency and effectiveness of the organisation’s performance.

28
Q

What is Number of Sales?

A

Number of sales measures the number of products sold.

29
Q

What is Percentage of Market Share?

A

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

30
Q

What is the Rate of Productivity Growth?

A

The rate of productivity growth measures the change in productivity in one year compared to the previous year.

31
Q

What is a Customer Survey?

A

A customer survey measures how satisfied customers are with the organisation’s performance.

32
Q

What is a Staff Survey?

A

A staff survey measures how satisfied staff are within the organisation.

33
Q

What is Staff Turnover?

A

Staff turnover measures the number of staff who are leaving the organisation.

34
Q

What are Customer Complaints?

A

Customer complaints indicate whether or not customers are satisfied with the performance of the organisation.

35
Q

What is Level of Wastage?

A

The level of wastage measures the amount of waste created by the production process.

36
Q

What is Number of Workplace Accidents?

A

The number of workplace accidents indicates how safe the workplace is for employees.

37
Q

What is Benchmarking?

A

Benchmarking occurs when an organisation measures its performance against that of other leading organisations known for their excellence.

38
Q

What are Stakeholders?

A

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

39
Q

What is Social Responsibility?

A

Social Responsibility is the obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community as well as the environment.

40
Q

What is Ethical Management?

A

Ethical management refers to the process of abiding by moral standards and doing the ‘right’ thing in the interests of all stakeholders.

41
Q

What are Unions?

A

Unions represent employees in many workplaces in Australia. They attempt to negotiate favourable pay and work conditions on the employees’ behalf.

42
Q

What are Shareholders?

A

Shareholders purchase shares in a comopany, so they are partial owners. Shareholders want the organisation that they have invested in to be profitable as they receive a proportion of the profits (called dividends). They also make a capital gain if the value of an organisation’s shares increases.

43
Q

What is Management?

A

Management has the responsibility of running a profitable or successful organisation.

44
Q

What is Infrastructure?

A

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

45
Q

What is Gross Domestic Product?

A

Gross domestic product (GDP) refers to the total monetary value of all goods and services produced in a country over one year.

46
Q

What is Balance of Payments?

A

The Balance of Payments (BOB) is a record of a county’s trade and financial transactions with the rest of the world.

47
Q

What are Employees?

A

Employees are vital to an organisation as they manufacture or produce the product the organisation sells. The quality of the product depends on their skill and commitment to the process.

48
Q

What is a Not-for-Profit Organisation?

A

Not-for-profit organisations include charities and foundations. Their main purpose is to provide goods, services or funds to prevent particular social problems or to continue their work for the benefit of the community.

49
Q

What is the Operations Department?

A

The operations department is responsible for the production of the organisation’s product, whether it is a manufactured good or the provision of a service. It oversees the transformation of inputs into ouput, that is, the finished product. Operations strategies include: facilities design and layout, materials management, quality management and use of technology, minimal waste.

50
Q

What is the Financial Department?

A

The financial department is responsible for managing the financial aspects of the organisation. This can include financial policies, raising finance, budgeting, accounting and reporting, and cash control.

51
Q

What is the Human Resources Department?

A

The human resource department is responsible for coordinating all the activities involved from acquiring to terminating employees of the organisation. It manages the relationship between the employer and employees. Strategies used focus on improving the motivation of employees, meeting their expectations, development and training.

52
Q

What is the Marketing Department?

A

The marketing department is responsible for the marketing mix, often referred to as the 4Ps (product, price, promotion and place). Marketing strategies arise through developing the product, determining a price, promoting and distributing products to present and potential customers.

53
Q

What is Profitability?

A

Profitability is the potentional of an organisation to make a profit.

54
Q

What is Profit?

A

Profit is the what remains after expenses are deducted from income/revenue earned.

55
Q

What are Exports?

A

Exports are products and services sold overseas to another country.

56
Q

What are Imports?

A

Imports are products and services purchased into Australia from another country.

57
Q

What is a Board of Directors?

A

The board of directors is body of members elected by shareholders (or appointed) who jointly oversee the activities of a company, including the strategic direction and are accountable for the governance and direction of the company.

58
Q

What is a Managing Director (CEO, chief executive officer)?

A

The CEO is generally the most senior corporate officer in charge of managing a company. The CEO of a company typically reports to the board of directors and is charged with maximising the value of the entity.

59
Q

What is Conflict of Interest?

A

Conflict of interest is a situation in which an organisation/individual is involved in multiple interests, one of which could possibly corrupt the values of the organisation/individual. Conflict of interest is an ethical issue in managing a business.

eg. balancing the interests of all stakeholders and not favouring, is important.
eg. directors with a material personal interest in a matter that relates to the affairs of the company must notify other directors of that interest, and disclose the matter.

60
Q

What is Management Function?

A

Management function is the management of functional areas including HR, operations, finance, marketing and R&D. Managers are responsible for the leadership of staff in their functional area.

61
Q

Management function 2:

A

A large-scale organisation creates an organisation structure that has separate departments, each focusing on a particular functional area including marketing, human resources, operations, finance, research and development. Managers are responsible for the leadership of staff in their functional area.

Business Management (7 decks)

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