Sac Review Flashcards
Shareholder
A shareholder is any person who owns shares in a company
Corporation
Corporation or Company is an incorporated organisation that exists as a separate legal entity, owned by shareholders and managed by directors. A shareholder is any person who owns on or more shares in a company. The company’s purpose is to make a profit.
Government business enterprise
Is government owned and operated
Objective
Desired goal, outcome or specific result that an organisation intends to achieve
Vision statement
A written statement which states what an organisation aspires to become
Mission statement
A written statement which expresses why an organisation exists, it’s purpose and how it will operate
Strategies
Are actions that an organisation takes to achieve specific result.
GDP
Refers to the total monetary value of all goods and services in a country over one year.
Infrastructure
Refers to highways, railways, airports, communications systems, education and health facilities, water gas and electricity supplies
Organisation
Is two or more people working together to achieve their common objectives
LSO
Employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million
Multi national corporation
Is owned and based in one country and operates in many countries throughout the world
Board of directors
Board managing, r and d, human resources, marketing, finance and operations
Government department
Exists on all three levels of parliament, provide essential community services such as, health, education, and welfare
Not for profit
Not-for-profit organisations include charities and foundations. Their main purpose is to provide goods, services or funds to prevent particular social problems or to continue their work for the benefit of the community.
Exports (x)
Exports are goods and services being sent to other countries and economies,,, (export money comes in)
Imports (m)
Imports are goods and services being shipped to our country and economy,,, (imports means money goes out)
Balance of payments,, (BOP)
The BOP keeps track of all money in the economy used in trading,,
- current account
- capital and financial account
Invention
Development of something new
Innovation
Occurs when something already established is improved on
Infrastructure
Refers to highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies.
Downsizing
Workplace staff reductions, with the elimination of jobs and position to improve efficiency and productivity
Outsource
Contracting of organisational operations to outside suppliers
Internal environment
The organisation has some degree of control over
External environment
The organisation has little control can be divided into an operating environment and macro environment
Operating environment
Outside factors with which the organisation directly interacts in the course of conducting business
Customers
Are buyers and users of the goods and services of an organisation
Suppliers
Supplies resources to organisations that allow it to operate
Competitors
Other organisations that offer rival goods and services
Lobby groups
Groups of people who attempt to directly influence or persuade an organisation to adopt particular policies
Effect on the economy from contribution to employment
Businesses do well and and expand as profit increase. Employment rises. The wealth generated by this process creates a higher standard of living
because workers earn income and use it to purchase goods and services, which in turn stimulates the economy. Employees pay income tax and GST, which provides revenue for government expenditure programs that also contribute to the economy.
Effects on the economy from contribution to exports
Exporting products creates jobs, boosts incomes and improves our
Living standards
Effects on the economy from contribution to infrastructure growth
Creates jobs in creating the infra structure
transport facilities are crucial for moving people and products and electricity, gas and water supplies are essential to manufacturing operations
Effect on economy from downsizing
the resulting large number of employees who are retrenched may not be able to find other jobs, thus impacting on the overall level of unemployment in the economy. These workers will no longer have the same amount of disposable income as they had when they were employed and their purchasing of goods and services will therefore be severely reduced, which impacts on other businesses. They may also place pressure on the government sector of the economy because of an increase in applications for unemployment benefits.
Effect on economy from outsourcing
- Jobs become redundant
- If overseas money leaves the country
- Effects small businesses
- Less money flow
- Lower standards of living
- Puts strain on government to look after redundant employees
Damage to the environment effect on economy
- Costs lots of money to return to pristine condition
- Less profit for the organisation
- Less money for the business to expand
- Less money flow to other small businesses
Government tariff
A tax imposed on imported goods and services. Tariffs are used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers.
