LSO & internal environment Flashcards
What are the management functions
Operations Finance Research and development HR Marketing
List 8 stakeholders of an LSO
Managers Employees Shareholders Customers Competitors Suppliers Unions Community
Define planning
The setting of achievable goals or objectives within a given timeframe
Define organising
The coordination of resources and systems necessary to achieve plans
Define controlling
The necessary monitoring and evaluation to ensure that organizational objectives are being met
Define leading
The process of influencing workers so that they want to do their best to achieve organizational objectives
List 9 kpi’s
Percentage of market share, Net profit, Rate of productivity growth, Results of a staff/customer satisfaction survey, Number of sales, Level of staff turnover, Level of wastage, Number of customer complaints, Number of workplace accidents
List 4 examples of internal environment
Employees
Corporate culture
Policies
Organizational structure
List 4 in the operating environment
Customers
Suppliers
Unions
Competitors
List 5 in the macro environment
Economic influences Legal influences Globalisation Technological development Social attitudes
Define policies
Documents that outline the regulations and rules that must be followed in an organization
What are the 7 steps in policy development process
- Issue identification-become aware of the need for a new policy or the need to change an existing one
- Research and analysis- what exactly needs to be changed
- Stakeholder input- what do those affected by the new policy think
- Policy development- preparation of a proposed policy(draft policy)
- Draft policy’s posted- draft policy is placed in public area with stakeholders given the opportunity to make comments
- policy approval- this is what the policy is going to be
- evaluation- did the new policy help achieve organizational objectives
Name the 3 levels of planning and who they would apply to
Strategic planning, long term 2-5 years done by senior management
Tactical planning medium term 1-2 years done by middle management
Operational planning short term day to day up to a year done by front line managers
Problem solving process
- Identify the problem or issue
- Conduct a swot analysis
- Based on swot results devise a number if planning options
- Select best option and implement it
- Monitor this plan and evaluate effectiveness
What are the 2 types of culture
Real culture- which reflects the way things actually operate in the organization
Official culture- is that written in corporate documents
Name 8 management skills
Communication Decision making Delegation Analytical Negotiation People skills Technical skills Time management
What are some benefits of being ethical and socially responsible
Shareholders may be attracted to invest in an organization tht acts in an ethical and socially responsible manner
Better quality employees will be attracted to organizations that work in this way. They may become an employer of choice
What are 4 positive contributions LSO’s have on the economy and why
GDP- gross domestic product is the value of goods and services produced within a given time period
Employment- LSO’s employ a significant percentage of Australia’s labour force
Exports- account for a large amount of exports which contribute positively to our balance of payments
Research and development- because of high cost involved LSO’s are generally the only ones who can afford it
What is a negative contributions of an LSO on the economy
Price setting-when a small number of large businesses control prices
Define corporate culture
The shared values or beliefs of the people within an organization
8 indicators of corporate culture
Communication channels Dress code The willingness to achieve Socialization Degree at which risk taking is encouraged Rituals Written documents (policies)
What are 5 causes if a change of culture
Time New managers New employees Business mergers Macro factors
