Exam Flashcards
1
Q
Marketing
A
Where the focus is on studying and developing new and improved products for the organisation
2
Q
Research and Development
A
Where the focus is on studying and developing new and improved products for the organisation
3
Q
Finance
A
Where the focus is on planning, maintaining and reporting on the financial aspects of the organisation’s performance
4
Q
Operations
A
Where the focus is on creating the organisations final output (product or service)
5
Q
Objective
A
A desired goal, outcome or specific result that an organisation intends to achieve
6
Q
Vision statement
A
A statement of what the organisation aspires to become
7
Q
Mission statement
A
A statement expressing why an organisation exists, its purpose and how it will operate
8
Q
Strategies
A
The actions that an organisation takes to achieve specific objectives
9
Q
Downsizing
A
Workplace staff reductions, with the elimination of jobs and positions
10
Q
Outsourcing
A
Contracting some organisational operations to outside suppliers
11
Q
Internal environment
A
All those things over which the organisation has some degree of control. E.g. Employees
12
Q
External environment
A
This includes those things over which the business has little control. It may be divided into an operating environment and a macro environment.
13
Q
Operating environment
A
The outside factors with which the organisation interacts in the course of conducting its business. These factors include customers, suppliers, competitors and lobby groups.
14
Q
Customers
A
The buyers or users of the products of a large-scale organisation.
15
Q
Suppliers
A
Those organisations and individuals that supply resources to the organisation, allowing it to conduct its operations
16
Q
Competitors
A
Other organisations that offer rival products or services
17
Q
Lobby groups
A
Groups of people who attempt to directly influence or persuade an organisation to adopt particular policies
18
Q
Macro environment
A
Is made up of the broad factors in the economy and society within which the organisation operates that it has no control over including political, legal, economic, technological and social.
19
Q
Effectiveness
A
The degree to which an organisation has achieved its stated objectives
20
Q
Efficiency
A
A measure of how well an organisation uses resources to achieve objectives
21
Q
Key Performance Indicators
A
Are specific criteria used to measure the efficiency and effectiveness of the organisations performance.
22
Q
Profitability
A
A measure of the earning performance of the business; it indicates the business’s ability to maximise profits.
23
Q
Number of sales
A
Measures the number of products sold
24
Q
Percentage of market share
A
The proportion of the total market that a business has, expressed as a percentage
25
Rate of productivity growth
A measure of the change in productivity in one year compared to the previous year
26
Customer survey
A measure of how satisfied customers are with the organisations performance
27
Staff survey
A measure of how satisfied staff are within the organisation
28
Staff turnover
A measure of the number of staff who are leaving the organisation
29
Customer complaints
An indication of whether or not customers are satisfied with the performance of the organisation
30
Level of wastage
The amount of waste created by the production process
31
Number of workplace accidents
An indication of how safe the workplace is for employees
32
Benchmarking
A process in which an organisation measures its performance against that of other leading organisations known for their excellence
33
Stakeholders
Groups and individuals who interact with the organisation and have a vested interest in its activities
34
Social responsibility
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
35
Ethical management
Abiding by moral standards and doing the 'right' thing in the interests of all stakeholders
36
Shareholders
Any person who owns shares in a company
37
Management
The process of dealing with or controlling things or people
38
Employees
Those employed by organisation who contribute their labour to the production of goods and services.
39
Profit
What a business makes when the income earned (revenue) is greater than the costs of production (expenses)
40
Human resources
The focus is on managing the overall relationship the organisation has with its employees
41
Management structure
is a term used to describe the ways in which the management, employees and resources of an organisation are formally arranged to achieve objectives
42
Bureaucratic structure
A bureaucracy is an administrative or social system that relies on a set of rules and procedures, separation of functions and a hierarchical structure in implementing controls over an organisation
43
Flat organisational structure
A flat organisation refers to an organisation structure with few or no levels of management between management and staff level employees. The flat organisation supervises employees less while promoting their increased involvement in the decision-making process
44
Functional structure
involves grouping employees together according to the tasks or jobs they will perform (task structure)
45
Division structure
groups employees together according to divisions that may be geographical, or customer, product or process focused
46
Matrix structure
involves bringing together specialists from different parts of the organisation to solve specific problems or to undertake specific projects in teams
47
Corporate culture
refers to the values, ideas, expectations and beliefs shared by members of the organisation
48
Planning
is the process of setting objectives and deciding on the methods to achieve them
49
Strategic planning
is long-term planning, usually over two to five years
50
Tactical planning
is flexible, adaptable, medium-term planning, usually over one to two years, which assists in implementing the strategic plan
51
Operational planning
provides specific details about the way in which the organisation will operate in the short term
52
Organising
is the process of arranging resources and tasks to achieve objectives
53
Leading
is the process of influencing or motivating people to work towards the achievement of the organisation's objectives
54
Interpersonal qualities
This quality involves management’s capacity to deal or liaise with people and build positive relationships with staff.
55
Informational qualities
This quality involves gathering and communicating or sharing data and knowledge.
56
Decision-making qualities
This quality involves identifying available options and then choosing one course of action from the alternatives.
57
Control
is the process of evaluating performance and taking corrective action to ensure that the set objectives are being achieved
58
Policy
is a set of broad guidelines to be followed by all employees when dealing with important areas of decision making
59
Procedure
is a series of actions enabling a policy to be put into practice.
60
Autocratic management style
is one where the manager tells staff what decisions have been made.
61
Persuasive management style
is one where the manager attempts to sell decisions made.
62
Consultative management style
is one where the manager consults employees before making decisions.
63
Participative management style
is one where the manager unites with staff to make decisions together.
64
Laissez-faire management style
is one where the employees assume total responsibility for, and control of, workplace operations.
65
Communication skills
involves the ability to transfer information from a sender to a receiver, and to listen to feedback.
66
Delegation skills
is the transfer of authority and responsibility from a manager to an employee to carry out specific activities.
67
Negotiation skills
skills involve the ability to resolve a dispute or to produce a satisfactory agreement on a course of action.
68
Team/group dynamics
are the interaction of individuals within teams/groups.
69
Problem solving skills
is a broad set of activities involved in searching for, identifying and then implementing a course of action to correct an unworkable situation.
70
Technical skills
involve the ability to perform tasks in a specialised field.
71
Time management skills
involves the ability to prioritise tasks, set deadlines, review progress ad delegate.
72
Stress management skills
involves the ability to manage the levels of stress that develop in employees.
73
Emotional management skills
is the skill of identifying, assessing and managing the emotions of self and others.
74
Operations management
consists of all the activities in which managers engage to produce goods or services
75
Tangibles
are goods, which can be touched
76
Intangibles
include services, which cannot be touched
77
Inputs
are resources used in the process of production. e.g. machinery, equipment
78
Transformation
is the conversion of inputs (resources) into outputs (goods or services). e.g. Sony - takes plastic, metal, glass and electronic parts and transforms them through design, manufacturing and assembly into numerous electronic products
79
Outputs
refer to the end result of an organisation's efforts - the service or product that is delivered or provided to the consumer e.g. car
80
Productivity
is a measure of efficiency - the amount of output produced compared to the amount of input required in production
81
Fixed position layout
deals with large-scale processes, such as the construction of bridges, ships, aircraft or buildings
82
Product layout
deals with the manufacturing of goods in mass volume using an assembly line
83
Process layout
deals with high varieties of products by grouping activities, equipment and machinery of similar function together
84
Materials management
is the strategy that managers the use, storage and delivery of materials to ensure the right amount of inputs is available when required in the operations system
85
Just in time
is a materials management strategy that ensures that the exact amount of material inputs will arrive only as they are needed in the operations process
86
Quality
refers to the degree of excellence of goods or services and their fitness for a stated purpose
87
Quality control
involves the use of inspections at various points in the production process to check for problems and defects
88
Quality assurance
involves the use of a system so that an organisation achieves set standards in production
89
Total quality management
is an ongoing, organisation-wide commitment to excellence that is applied to every aspect of the organisation's operations
90
Human resource manager
coordinates all the activities involved in acquiring, developing, maintaining and terminating employees from an organisation's human resources
91
Human resource management
is defined as the effective management of the formal relationship between the employer and employees
92
Flexible working conditions
are conditions that allow employees to balance work and family responsibilities more effectively
93
Work-life balance
is about achieving the right amount of time for work and for personal or family life
94
Occupational health and safety
refers to the responsibility the employer has to ensure the workplace is safe for employees and that steps are taken to minimise harm
95
Job security
is the belief that the employee will not lose their job
96
Motivation
refers to the individual, internal process that directs, energises and sustains a person's behaviour
97
Need
is a personal requirement
98
Maslow's hierarchy of needs theory
is Maslow's sequence of human needs in the order of their importance
99
Herzberg's motivation-hygiene theory
is the idea that satisfaction and dissatisfaction are caused by separate sets of factors
100
Locke's goal setting theory
refers to employees are motivated to achieve goals they have helped to set.
101
Establishment phase
involves determining what human resources are required to ensure the organisation is able to accomplish what it has set out to achieve.
102
Maintenance phase
involves the process of ensuring that an employee is familiar with and able to adequately complete their job.
103
Termination phase
is the ending of the employment of an employee.
104
Human resource (HR) planning
is the development of strategies to meet the organisation's future human resource needs.
105
Job analysis
is the study of an employee's job in order to determine the duties performed, the time involved with each of those duties, the responsibilities involved and the equipment required.
106
Job description
is a summary of what the worker will be doing - the role they will have in the organisation in terms of duties and responsibilities.
107
Job specification
will indicate the sort of person an organisation is seeking in terms of personal qualities, skills, education and work experience.
108
Job design
details the number, kind and variety of tasks that individual employees perform in they jobs. Jobs may be designed so they include a variety of tasks to keep employees interested and motivated.
109
Full-time permanent employees
have an ongoing employment contract which includes all legally required entitlements.
110
Part-time permanent employees
involves working fewer ordinary weekly or monthly hours compared with full-time employees.
111
Casual employees
are employed on an hourly basis.
112
Remuneration
is monetary payment in return for the work an employee performs.
113
Wage
is an hourly or weekly rate of pay.
114
Salary
Employees who earn a salary are paid a fixed amount each year, which is then divided by 26 to give a fortnightly salary, or by 12 to give a monthly salary.
115
Induction
is a process of acquainting new employees with the organisation - its history, structures, objectives, culture, policies and practices - and the jobs they will perform.
116
Training
generally refers to the process of teaching staff how to do their job more efficiently and effectively by boosting their knowledge and skills.
117
Development
refers to activities that prepare staff to take on greater responsibility in the future.
118
Recognition and reward programs
aim at both acknowledging the work an employee has done and providing some sort of benefit, such as cash, merchandise, travel or gift certificates, in return for a job well done.
119
Intrinsic rewards
come from the task or job itself, such as recognition to feedback or a sense of achievement.
120
Extrinsic rewards
are outside the job itself. They may be monetary or non-monetary.
121
Performance management
focuses on improving both organisational and individual performance through relating organisational performance objectives to individual employee performance objectives.
122
Performance appraisal
is the formal assessment of how efficiently and effectively an employee is performing their role in the organisation.
123
Performance feedback
is the information provided to an employee after a performance appraisal.
124
Termination
is the ending of the employment of an employee.
125
Retirement
occurs when an employee decides to give up full-time or part-time work and no longer be part of the labour force.
126
Resignation
is the voluntary ending of employment by the employee 'quitting' their job.
127
Redundancy
occurs when a person's job no longer exists, usually due to technological changes, an organisational restructure or a merger or acquisition.
128
Retrenchment
occurs when a business dismisses an employee because there is not enough work to justify paying them.
129
Dismissal
occurs when the behaviour of an employee is unacceptable and an organisation terminates their employment.
130
Unfair dismissal
is when an employee is dismissed because the employer has discriminated against them in some way, such as firing someone because she is pregnant.
131
Employee relations
refers to the total interaction that occurs between an employer (and their representatives) and the employee (and their representatives) in regard to the establishment of conditions of employment.
132
Employer
an employer, for legal purposes: exercises control over employees, has responsibility for payment go wages, holds the power to dismiss employees.
133
Employee
an employee is a worker under an employer's control. Control may involve: the location of the workplace, the way in which the work is performed, the degree of supervision involved. These criteria are critical in determining legal disputes over the employment contract.
134
Trade unions
are organisations formed by employees in an industry, trade or occupation to represent them in efforts to improve wages and the working conditions of their members.
135
Employer associations
are organisations that represent and assist employer groups.
136
Award
is a legally binding agreement that sets out minimum wages and conditions for a group of employees.
137
Collective bargaining
involves determining the terms and conditions of employment through direct negotiation between unions and employers.
138
Enterprise bargaining
is the process of directly negotiating wages and employment conditions between employers and employees at the enterprise level.
139
Centralised system
a centralised system of employee relations is one in which central tribunals decide the wages and employment conditions of all employees.
140
Decentralised system
a decentralised system is one in which direct negotiations occur between an individual employer and either individual employees, groups of employees or the representatives of those employees.
141
Conciliation
occurs when a third party participates in the resolution of a dispute and attempts to help resolve the differences through discussion.
142
Arbitration
occurs when a 'judge' (such as a commissioner the Fair Work Commission) or a panel of 'judges' hear both arguments in a dispute in a more formal court-like setting and determines the outcome.
143
Collective/enterprise agreement
is a negotiated agreement between an employer and a union or a group of employees.
144
Common law individual (employment) contract
covers those employees who are not under any Award or collective/enterprise agreements.
145
Mediation
is the confidential discussion of issues in a non-threatening environment, in the presence of a neutral, objective third party. Many organisations now specify mediation as a first step in their dispute resolution or grievance procedures.
146
Change
is any alternation in the internal or external environments.
147
Organisation change
is the adoption of a new idea or behaviour by an organisation.
148
Proactive
is to initiate for a change rather than simply to react to events.
149
Reactive
is to wait for a change to occur and then respond to it.
150
Source of change
refers to where the change comes from, which includes changes from both the internal and external (operating) environments.
151
Driving forces
are those factors that support the change.
152
Restraining forces
are those factors that work against the change.
153
Organisational inertia
refers to an unenthusiastic response from management to proposed change.
154
Change management process
is the sequence of steps that a manger would follow for the successful implementation and adoption of change.
155
Manipulation
is the skilful or devious exertion of influence over someone to get them to do what you want.
156
Cooptation
involves the selection of an influential person among potential resistors to be involved in the development and implementation of the change process.
157
Corporate social responsibility
involves managing organisational processes in order to produce an overall positive impact on the community.
158
Triple bottom line
refers to the social, economic and environmental performance of an organisation.
159
Ecological sustainability
occurs when economic growth meets the needs of the present population without endangering the ability of future generations to meet their needs.
160
Sustainability report
is a comprehensive report of what a business has done, and is doing, with regard to social issues that affect it.
161
Business ethics
refers to the application of moral standards to organisational behaviour.
162
Corporate code of conduct
is a set of ethical standards for managers and employees to abide by.
163
Leadership
is the process of positively influencing and encouraging individuals to set and achieve objectives.
