Chapter One - Large Scale Organisations in Context - DEFINITIONS Flashcards
What is an organisation?
An organisation is two or more people working together to achieve an objective
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 multinational corporation?
A multinational corporation is owned and based in one country and operates in many countries throughout the world. eg. ANZ bank is owned and based in Australia, but operates in more than 32 countries.
What is a corporation?
A corporation is owned by shareholders and aims to make a profit.
What is a shareholder?
A shareholder is any person who owns shares in a company.
What is a government business enterprise?
A government business enterprise is government owned and operated eg. Australia Post, Medibank and VicRoads
What is an invention?
An invention is the development of something new
What is innovation?
Innovation occurs when something already established is improved upon
What is infrastructure?
Infrastructure refers to highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies.
What is globalisation?
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, producingq a more integrated global economic system.
What is a not-for-profit organisation?
An organisation who’s 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. eg. The Salvation Army
What is Gross domestic product?
Gross domestic product refers to the total monetary value of all goods and services produced in a country over one year.
What are exports?
Exports are when an organisation exports their goods or services to overseas markets
What is a board of directors?
A group of individuals that act as representatives of the shareholders to to make decisions on major company issues.
What is a managing director?
The most senior corporate officer, executive, or administrator in charge of managing a an organisation.
What is a government department?
Government Departments exist at all 3 levels of government (federal,state,and local). They provide essential community services
What are imports?
A good or service brought into one country from another.
What is 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.
What are unions?
They attempt to negotiate favourable pay and work conditions on the employee’s’ behalf.
What are public companies?
Listed on the Australian Securities Exchange (ASX) and can have millions of shareholders
what are private companies?
not listed on the ASX (australian securities exchange) and have restrictions on who can buy shares
what is a government business enterprise?
A GBE is government owned and operated, carry out government policies while deliver community services.
what is the internal environment?
includes all those things over which the organisation has some degree of control
what is the external environment?
includes all those things over which the business has little control. It may be divided into an operating and macro environment
what are performance indicators?
measure the effectiveness and efficiency of an organisations performance
what is ethical management?
refers to the process of abiding by moral standards and doing the right thing in the interest of all stakeholders
what is social responsibility?
is the obligations a business has over and above its legal responsibilities to the wellbeing of employees, customers, shareholders, the community and the environment
what are management functions?
LSO’s typically use management functions to implement different strategies to support the organisation in achieving it’s objectives
what are stakeholders?
groups and individuals who have a vested interest in the activities of a business
What are shareholders?
People who purchase shares in a company so they are partial owners
What are unions?
represent employees in many workplaces, work to prevent anything that diminishes employee rights, safety or conditions
What are employees?
Vital to the organisation as they produce or manufacture the goods/services, the quality of the product depends on their skills and commitment to work
What are customers?
People who purchase goods or services from a business.
What are suppliers?
provide raw materials that will be used in the organisations production processes.
What is exporting?
Exports are when an organisation exports their goods or services to overseas markets
What is outsourcing?
transferring a function of an organisation to external organisations to reduce costs
What are conflicts of stakeholders?
satisfying one stakeholder will most likely result in other stakeholders being dissatisfied.
What is number of sales and how can it measure a businesses performance?
number of sales measures the number of products sold. if number of products sold increases it is assumed profits will increase in the long term
what is percentage of market share and how can it measure a businesses performance?
proportion of the total market that a bus has, expressed as a percentage. increase in market share suggests the organisation is performing successfully
what is a customer satisfaction survey and how can the results measure a businesses performance?
measures how satisfied customers are with the organisations performance. a highly satisfied customer will remain loyal to organisation and make repeat purchases
what is level of staff turnover and how can it measure performance?
staff turnover measures the number of staff who are leaving the organisation. decreased staff turnover suggests less employees are leaving because they are satisfied with working conditions
