Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Management Units 3 and 4 > Large Scale organisations in context > Flashcards

Large Scale organisations in context Flashcards

1
Q

the context which contributes to the unique nature of large-scale organisations

A
  • operate in many countries
  • produce goods and services in masses
  • have a huge range and large number of stakeholders
  • have owners or shareholders, who have little to do with day-to-day operations
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

the characteristics of large-scale organisations

A

-are commonly characterized by a large number of employees (200 or over), a large amount of assets (worth more than $200 million) and large revenue (in the millions).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Two major types of large scale organisations

A

-corporations and not-for-profit organisations. -Corporations includes public, and private companies, and government business enterprises. Whereas not-for-profit organisations includes charities and foundations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Corporations

A
  • corporations are owned by shareholders and aim to make a profit. Profits in corporations are distributed back to shareholders in the form of dividends.
  • A public corporation is listed on the Australian Securities Exchange. Whereas a private corporation can have one shareholder but no more than 50 shareholders.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Government business enterprise

A
  • A government business enterprise (GBE) is government owned and operated. An example is Australia Post
  • has objectives reflecting the provision of services to the community
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The five typical management functions

A

operations, finance, human resources, marketing, and research and development

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Operations function

A

consists of all activities in which managers engage to produce goods or services. For example, organizing natural, capital (equipment), and human resources.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Not for profit organisations

A

-A not-for-profit aims to make a profit so that this can be used to cover any expenses and further the work of the organisation of helping people in need, provide goods, services or funds to prevent particular social problems, and raising community awareness for a specific cause.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Differences between For Profit and Not for Profit: For Profit

A
  • has the objective to increase profit, increase market share, and expand the business
  • owned by either public shareholders, or by one or more individuals
  • profits are distributed to owners, management, employees, and shareholders
  • employees are paid
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Differences between For Profit and Not for Profit: Not for profit

A
  • objective is to provide goods, services, or funds to prevent particular social problems or to continue their work to benefit the community
  • has no owners, only management
  • profits earned go back into the organisation; to pay for expenses, expand the business, improve and further the work of the organisation
  • management staff are paid, but most workers are volunteer
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Human resources

A

is the effective management of the formal relationship between the employer and employees.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Human resources: relationship to objectives

A

balance the need for profitability with regard for well being of employees. Focus on positive work to lead to motivated staff, increase profitability and achievement of organisational objectives.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Human resources: strategies

A

work with other departments to recruit, select, train and develop staff.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Operations: relationship to objectives

A

to efficiently produce goods or services. To increase productivity through best use of human and capital resources (equipment).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Operations: strategies

A

improve quality of goods or services. Reduce costs of inputs or processes. E.g. use less electricity during manufacturing processes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Marketing

A

is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational objectives.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Marketing: relationship to objectives

A

creates consumer awareness, enables business to become stronger competitors, and create positive public image which may translate into increased sales and profit. Businesses can create a specific marketing plan in order to achieve this and meet these goals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Marketing: strategies

A

a business may chose to create a new advertising campaign, sale or give-away in order to appeal to new clients and improve customer support.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Research and development

A

are activities undertaken to improve existing products (innovation) or create new products (invention).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Research and development: relationship to objectives

A

Through creating new goods and services, a business is actively trying to keep consumers interested and satisfied with the business and its operations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Research and development: strategies

A

creating new goods and services to satisfy current consumer demands, and minimize any problems they may be experiencing.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Finance

A

refers to the management of large amounts of money, by large-scale organisations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Finance: relationship to objectives

A

manages a business’s income and spending which ensures they are making sound decisions, are achieving a sufficient revenue, and are avoiding debts and unnecessary loans.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Corporations include…

A

Public and private companies, and Government Business Enterprise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Government departments

A

Exist on all levels of government, and provide essential community services. An Example is the department of educations
-these types of government operations do not deal with people

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Public companies

A

are usually traded on the Australian Stock Exchange (ASX), where they have millions of shareholders.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Private companies

A

are not listed on the ASX, and have restrictions about who can buy their shares. They have to have at least one, with a maximum of 50 shareholders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Charities

A

Provide goods, services or funds to prevent particular social problems. An example is salvation army

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Foundations

A

work to research, and create awareness of a particular issue. For example, The Australian Cancer Foundation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Positive contributions LSOs make to the economy

A
  • economic growth
  • employment
  • exports
  • research and development
  • infrastructure growth
31
Q

Positive contributions LSOs make to the economy: economic growth

A
  • able to produce a huge amount of goods and services because they have a large employee base, finances, and technology and resources
  • This means that the Gross domestic product (GDP) will be high, which benefits the community
32
Q

Positive contributions LSOs make to the economy : employment

A
  • employ a significant amount of employees, who are provided with a income; and will spend their income on other goods and services, hence putting more money into the economy
  • employees also have to pay taxes, which gives money back to the government and allows them to build infrastructure
33
Q

Positive contributions LSOs make to the economy: exports

A
  • is when a organisation sells products to overseas markets
  • benefits the economy and LSO as it increases market share, customer base; employees may receive a pay rise, which would encourage them to spend money, putting more finance back into the economy
34
Q

Positive contributions LSOs make to the economy: research and development

A
  • have the capacity to undertake extensive research and development, enabling for invention and innovation to take place
  • may lead to an increase in sales for the LSO, leading to more finance in the economy
  • may also lead to competition with rival LSOs, resulting in cheaper prices for consumers
35
Q

Positive contributions LSOs make to the economy: infrastructure growth

A
  • LSOs pay taxes which provide the government money to further the current infrastructure. e.g. roads
  • infrastructure plays an important role: facilities such as transport, gas, water, and electricity essential to majority of businesses success
36
Q

Internal environment

A

includes all those things over which the organisation has some degree of control. (employees, managers, corporate culture, and policy).

37
Q

External environment

A

includes those things over which the business has little control. (operating and macro)

38
Q

Operating environment

A

includes customers, suppliers and creditors, competitors, and lobby groups.

39
Q

Objective

A

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

40
Q

vision statement

A

states what the organisation aspires to become

41
Q

mission statement

A

expresses why an organisation exists, it’s purpose and how it will operate.

42
Q

the purpose of vision and mission statements

A

is to guide and direct the organisation’s owners, managers and employees

43
Q

strategies

A

are the actions that an organisation takes to achieve specific objectives

44
Q

customers in the operating environment

A

share interest, and buy an organization’s products. They expect high quality goods or services, at competitive prices.

45
Q

Suppliers and creditors in the operating environment

A

provide the resources and finance that enables a business to conduct its operations. These networks need to be reliable, in order for the business to run properly.

46
Q

Competitors in the operating environment

A
  • refers to the organisations that offer rival products or services.
  • Businesses need to monitor, and be aware of current and potential competitors as these may influence the number of sales a organisation makes.
47
Q

Lobby groups in the operating environment

A

are groups who attempt to convince an organisation to adopt particular policies. Trade unions (made up of employees), consumer groups (monitor organisation’s performance in terms of product safety, packaging, pricing and advertising), and specific issue groups are the three main types of lobby groups.

48
Q

macro environment includes…

A

globalization, political influences, technological developments, economic influences, social attitudes, and legal influences.

49
Q

globalisation

A

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.

50
Q

Macro environment: political influences

A

major political change can lead to organisational uncertainty.

51
Q

Macro environment: technological developments

A

with appropriate technology, organisations can increase efficiency and productivity, create new products and improve the quality and range of products and services.

52
Q

Macro environment: economic influences

A
  • when an economy is in a downturn, consumers are more likely to spend less which translates to reduce sales and profit for large scale organisations.
  • Other economic factors which may influence a business include the exchange rate (which may cause supplies to become more expensive), increased interest rates (add to the cost of borrowing money), inflation and unemployment which would also influence on consumer spending hence influencing a business’s profit.
53
Q

Macro environment: social attitudes

A

pressure from society that forces organisations to implement procedures that deal with issues such as environmental sustainability, appropriate treatment of employees, and creating positive contributions to society.

54
Q

Macro environment: legal influences

A

organisations are required to comply with laws made by parliament and rulings set down by the courts -> changes in law can impact on the conduct of organisations.

55
Q

Performance indicators

A
  • percentage of market share
  • net profit figures
  • the rate of productivity growth
  • the number of sales
  • results of a staff and /or customer satisfaction survey
  • the level of staff turnover
  • level of wastage
  • number of customer complaints
  • number of work place accidents
56
Q

Profitability

A

measures the earning performance of the organisation and indicates its capacity to use it’s resources to maximize profits. Increase in profitability suggests that a business has performed successfully.

57
Q

number of sales

A

measures the number of products sold. If this increases over time, this suggests that an organization’s marketing strategies have been successful.

58
Q

percentage of market share

A

is the proportion of the total market that a business has, expressed as a percentage. Increase suggest that it is performing successfully.

59
Q

rate of productive growth

A

measures the change in productivity in one year compared to the previous year.

60
Q

Growth in the rate of productivity

A

suggests that an organisation is using resources more effectively.

61
Q

consumer survey

A

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

  • Whereas a staff survey measures how satisfied staff are within the organisation.
  • A organisation should attempt to exceed expectations and aim to delight customers in order to develop a base of highly satisfied customers, and satisfy employees as this will prompt them to be more motivated in their working positions.
62
Q

level of staff turnover

A

measures the number of staff who are leaving the organisation. A decrease in staff turnover suggests that fewer employees are leaving, because they are more satisfied with their work conditions.

63
Q

number of customer complains

A

indicate whether or not customers are satisfied with the performance of the organisation. Some consumer complains can be thought of as ‘the tip of the iceberg’ as for every customer that complains there are many who don’t.

64
Q

level of wastage

A

measures the amount of waste created by the production process. If a organisation reduces its level of wastage, this suggests that they are managing resources more efficiently which in turn may reduce production costs.

65
Q

number of workplace accidents

A

indicates how safe the workplace is for employees. If the number of workplace accidents falls then the workplace is most likely safer for employees.

66
Q

Some of the key stakeholders of an organisation include…

A

shareholders, management, unions, employees, customers, suppliers, and members of the community

67
Q

Stakeholders: Shareholders

A
  • refer to those who invest money in a organisation in order to be partial owners.
  • They want an organisation that they have a invested in to be profitable as they receive a proportion of the profits (dividends).
  • Some shareholders may only invest in organisations that they perceive to be ethical, this known as ethical investing.
68
Q

Stakeholders: management

A
  • has the responsibility of running a profitable or successful organisation.
  • need to balance out issues such as ethical and socially responsible management, employee welfare, and company performance as well as ensuring their own job positions are safe.
  • aim to satisfy as many stakeholder expectations as possible.
69
Q

Stakeholders: unions

A
  • represent employees in many workplaces in Australia.
  • attempt to negotiate favorable pay and work conditions on the employees behalf, and work to prevent anything that diminishes employee rights, safety or conditions.
70
Q

Stakeholders: employees

A
  • vital to an organisation as they manufacture or produce the product the organisation sells.
  • should be valued by being paid fairly, trained properly and treated ethically.
  • will be more motivated if inclined to work if their needs are met by an organisation.
71
Q

Stakeholders: customers

A

expect to purchase quality products at reasonable prices and they expect to receive high levels of service.
-also increasingly prefer to purchase products from businesses that they know have acted ethically and practiced social responsibility.

72
Q

Stakeholders: suppliers

A
  • provide raw materials that will be used in the organisation’s production process.
  • need to have strong relationships with supplier in order to ensure timely delivery of quality materials.
  • also expect suppliers to conduct themselves in an ethical manner.
73
Q

Stakeholders: members of the community

A
  • increasingly expect organisations to show concern for the environment and others in the community.
  • expect organisations to consider issues such as carbon emissions, waste disposal and pollution, employment of members of the community, etc in their decision making process
74
Q

Large scale organisations relationship with stakeholders, and their expectations

A
  • interests/ expectations of stakeholders can be incompatible
  • trying to please one set of stakeholders may leave others dissatisfied
  • attempt to satisfy all stakeholder expectations, anticipating that this will result in the organisation acting more ethically and socially responsible.

Business Management Units 3 and 4 (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions