Eat a dick Flashcards
What is not-for-profit organisation ?
Not for profit organisation is organisations operating to provide social benefits (educational, religious) rather than the sole pursuit of making a profit.
Distinction between small, medium and large businesses
Small: employs less than 20 people ( partnership or sole proprietor)
Medium: is defined as a business employing 20-199 employees, owned by a few people and/or private shareholders
Large: business or organisation employing 200 or more employees. Usually owned by thousands of public shareholders
What is a for-profit organisation?
A business or organisation whose main outline or objective is in monetary terms (making a profit).
What is an objective ?
An objective is an outcome or organisation wishes to achieve over a certain period of time
What is an internal environment and examples
The internal environment includes those factors over which the business has some degree of control over. Eg; employees, managers, management style
What is the external environment ?
Includes those factors over which the business has little control over.
What is business ethics?
Business ethics is the application of moral standards to business behaviour. It applies to all aspects of business conduct
What is socially responsible management?
Socially responsible management is managing a business in such a way that the broader social welfare of the community is taken into consideration when making business decisions
What is initial market research?
Initial market research is systematically collecting, recording and analysing information concerning a specific market
What is a sole trader?
A sole trading business is a business owned and operated by one person
What is a partnership?
A partnership is a legal business structure with a minimum of two and maximum of 20 owners
What is a franchise ?
A franchise means buying the rights from another business to distribute it’s products under it’s name
What is a financial objective ?
An objective set by a company which the target state is measured in monetary terms
What is a social objective ?
A social objective is a desired outcome that is related to the interaction of the individual, groups or institutions within a society
What is a personal objective ?
An overall personal development to make changes in certain areas to improve yourself in the organisation your employed into
