Module 1 Flashcards
Define organisation
Business enterprise or venture to manufacture product or provide service.
Product
Something made or grown/produced and sold
Service
Benefit offered in exchange for money
Different types of stakeholders
Internal
External
Connected
Internal stakeholders
Management
Employees
Connected Stakeholders
Shareholders
Customers
Bankers
Suppliers
External Stakeholders
Government
Local Authorities
Pressure Groups
Competitors
General Public
Remuneration
Money paid for job done
Profitability
Ability of making profit
Dividends
Share of a business profit
Legislation
Laws passed by parliament
Professional Ethics
Standards of professional behaviour
Exploiting
Making maximum use
Management
Run organisation
Exploit all resources availble to make maximum profit
Management
Run organisation
Exploit all resources availble to make maximum profit
Employees
Ensure efficient and effective work
Shareholders
Organisation uses capital from shareholders
- Organisation is accountable on how they spend money to shareholders
Customer compliant
Learning oppurtunity
Long term successs depends on
Customers
Suppliers
Supply raw material and equipment
Government
Obey rules and regulations
Professional Bodies
Set standards by which individuals and organisations should function
Regulatory Authorities
Have power to control area of business and ensure fair operating
Sponsorship
Provide financial support
Competitors
Can ask for help
Pressure groups
Wellbeing of employees in organisation and safe environment
