LSO SAC2

Question 0

What are the two external environments?

Answer 0

Operating and macro

Question 1

What kind of degree of control does internal environments have?

Answer 1

High degree of control

Question 2

What degree of control does operating environments have?

Answer 2

Some degree of control

Question 3

What control does macro have? What sort of pressure?

Answer 3

No control. Lots of pressure

Question 4

What are the 5 factors for operating environments (external)

Answer 4

Lobby groups, competitor, customers, suppliers and finance company

Question 5

What are the 6 factors for macro environments (external)

Answer 5

Government, economy, technology, globalization, social values, climate/environment

Question 6

The 5 internal factors are

Answer 6

Employees, structure, policies, management style, corporate culture.

Question 7

What is a performance indicator?

Answer 7

Performance indicators are a specific criteria used to measure the achievement of success of an organization. For example finance and operations

Question 8

What are two human resource performance indicators

Answer 8

Results of staff satisfactory survey

Level of staff turnover

Question 9

What are the finance performance indicators?

Answer 9

Net profit figures
Number of sales
Percentage of market share

Question 10

What are the marketing performance indicators

Answer 10

Results of customers satisfactory

Number of customer complaints

Question 11

What are the operations of performance indicators

Answer 11

Rate of productivity growth
Level of wastage
Number of work place accidents

Question 12

What does the performance indicator ‘results of staff satisfactory survey’ mean

Answer 12

This gives information about morals and satisfactory such as job security, managing, team, conditions and work life balance

Question 13

What does the performance indicator ‘level of staff turnover’ mean

Answer 13

The number of staff who leave and have to be replaced. If this increases this suggests poor morals, no teamwork, negative culture and no management support.

Question 14

What does the performance indicator ‘net profit figures’ mean

Answer 14

Revenue-expenses=net profit

An increase of net profit means it’s successful

Question 15

What does the performance indicator ‘number of sales’ mean

Answer 15

Number if customers buying products/services. More customers mean more profit

Question 16

What does the performance indicator ‘percentage of market share’ mean

Answer 16

The percentage of total sales in a market made by a LSO

Question 17

What does the performance indicator ‘results of customer satisfactory’ mean

Answer 17

The opinions of customers on quality of products, service, staff interaction and facilities. Good results mean repeated customers and through word of mouth

Question 18

What does the performance indicator ‘number of customer complaints’ mean

Answer 18

Number of product returns, increase in complaints is a negative. You must train staff, source better quality products

Question 19

What does the performance indicator ‘rate of productivity growth’ mean

Answer 19

Productivity is the volume of output for a given volume of input. Improving productivity lowers costs and means more profit

Question 20

What does the performance indicator ‘level of wastage’ mean

Answer 20

In the production process there is always wastage (pollution, packaging etc.) waste is a cost financially. If reduce waste means decrease costs

Question 21

What does the performance indicator ‘number of workplace accidents’ mean

Answer 21

An increase in workplace accidents suggests: poor policies, poor training, poor maintenance, work hours to long. Work accidents is a cost: time lost to employees and LSO and financially (cost of repairs)

Question 22

What is a stakeholder?

Answer 22

Any person or group who have an interest in the activities of the LSO

Question 23

What are the 6 types of stakeholders in a LSO?

Answer 23

Customers, employees, suppliers, the community, shareholders, competitors

Question 24

Identify customers

Answer 24

Customer are affected by pricing policy’s, quality, service and refund policy’s

Question 25

Identify employees

Answer 25

Job security, wages and conditions. If LSO performs poorly then jobs are under threat.

Question 26

Identify suppliers

Answer 26

The LSO buys their goods from suppliers. Poor sales for a LSO can mean less profit.

Question 27

Identify the community

Answer 27

LSO’s provide jobs and bring in other businesses. The LSO effects a community by their involvement In the community and support community activities also the environment

Question 28

Identify shareholders

Answer 28

They have Ownership interest and seeks dividends from their investment. Dividends are a part of the profit made by a LSO. If profits fall then no dividend

Question 29

Identify Competitors

Answer 29

Decisions made by a competitor affects other LSO’s ( Coles and Woolworth’s milk prices)

Question 30

What does benchmarking mean?

Answer 30

Setting standards of performance indicators that the large scale organization (LSO) aims to meet or surpass

Question 31

What does social responsibility mean?

Answer 31

The obligations a business has over and above it’s legal responsibilities to the well being of employees and customers, shareholders and the community as well as the environment.

Question 32

Define market share

Answer 32

The proportion of sales belonging to an organization of the total sales in the industry or market, other measured as a percentage figure.