Definitions Flashcards
Define Large Scale Organisations
Is defined by the Australian Bureau of Statistics as one who employs 200 or more. Other characteristics include earning revenue in the millions and having assets worth more than $200 million.
Define Infrastructre
Infrastructure: LSO’s encourage growth of infrastructure, Infrastructure refers to the physical resources of an area such as freeways, railways and communication systems
Define Objectives
Are statements of desired achievements that provide directions for actions.
Define Mission Statement
Mission statement is a written statement of the purpose of the organisation. It expresses the reason for a business existing.
Define Values statement
A statement outlining what the organisation sees as its corporate culture, honestly, integrity, responsibility and values.
define ethics
The process of following normal standards an doing the right thing in interests of all stakeholders.
define social responsibility
Where organisations have practices that are above the requirements of law
define triple bottom line accounting
this where three areas of an organisation are measured: economic, social and environmental performance
define outsourcing
The process of giving no- core activities to other organisations to complete.
define downsizing
The process of reducing staff and recourses with the elimination of jobs.
define effectiveness
The ability of organisations to achieve the set goals and objectives. “what the organisation is doing right”
define efficiency
Refers to how well the organisation is using its resources to achieve set objectives. It is the best use of available recourses.
define benchmarking
It is comparing your organisations performance against that of a market leader known for its excellence. It involves establishing areas of comparison.
Define worlds best practice
t is when an organisation improves an area of operations until it becomes the best in the world when benchmarked against other organisations’ performance in that area.
