12 BUS- Ch 1 Large Scale Organisations In Context

Question 1

Large scale organisation

Answer 1

Employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million.

Question 2

Multinational corporation

Answer 2

Owned and based in one country and operates in many countries throughout the world.

Question 3

Corporation

Answer 3

Owned by shareholders and aims to make a profit.

Question 4

Shareholder

Answer 4

Any person who owns shares in a company

Question 5

Government Business Enterprise

Answer 5

Government owned and operated

Question 6

Objective

Answer 6

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

Question 7

Vision statement

Answer 7

States what the organisation aspires to become

Question 8

Mission statement

Answer 8

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

Question 9

Strategies

Answer 9

The actions that an organisation takes to achieve specific objectives.

Question 10

Gross Domestic Product

Answer 10

The total monetary value of all goods and services produced in a country over one year.

Question 11

Research and Development

Answer 11

Activities undertaken to improve existing products and create new ones.

Question 12

Invention

Answer 12

The development of something new

Question 13

Innovation

Answer 13

Occurs when something already established is improved upon.

Question 14

Infrastructure

Answer 14

The stock of basic facilities and capital equipment needed for the functioning of a country or area.

Question 15

Downsizing

Answer 15

Involved workplace staff reductions, with the elimination of jobs and positions.

Question 16

Outsourcing

Answer 16

The contracting of some organisational operations to outside suppliers.

Question 17

Internal environment

Answer 17

Includes all those things over which the organisation has some degree of control.

Question 18

External environment

Answer 18

Includes those things over which the business has little control. It may be divided into the operating environment and the macro environment.

Question 19

Operating environment

Answer 19

Outside factors with which the organisation directly interacts in the course of conducting it’s business

Question 20

Customers

Answer 20

Buyers or users of the products of a large-scale organisation

Question 21

Suppliers

Answer 21

Organisations and individuals that supply resources to the organisation, allowing it to conduct its operations.

Question 22

Competitors

Answer 22

Other organisations that offer rival products or services

Question 23

Lobby groups

Answer 23

Groups of people who attempt to directly influence or persuade an organisation to adopt particular policies

Question 24

Macro environment

Answer 24

Made up of the broad factors in the economy and society within which the organisation operates.

Question 25

Globalisation

Answer 25

The effect of more efficient communications systems, lower transport costs and unrestricted trade which produces a more integrated global economic system

Question 26

Effectiveness

Answer 26

The degree to which an organisation has achieved its stated objectives

Question 27

Efficiency

Answer 27

How well an organisation uses resources to achieve objectives

Question 28

Performance indicators

Answer 28

Specific criteria used to measure the efficiency and effectiveness of the organisation's performance

Question 29

Net profit

Answer 29

What remains when expenses are deducted from the revenue earned

Question 30

Number of sales

Answer 30

Measures the amount of products sold

Question 31

Percentage of marketshare

Answer 31

Proportion of the total industry that a business has, expressed as a percentage.

Question 32

Rate of productivity growth

Answer 32

Measures the change in productiveness in one year compared to the previous year.

Question 33

Customer survey

Answer 33

Measures how satisfied customers are with the organisation's performance

Question 34

Staff survey

Answer 34

Measures how satisfied staff are with the organisation

Question 35

Staff turnover

Answer 35

Measures the number of staff who are leaving the organisation

Question 36

Customer complaints

Answer 36

Indicate whether or not customers are satisfied with the performance of the organisation

Question 37

Level of wastage

Answer 37

Measures the amount of waste created by the production process

Question 38

Number of workplace accidents

Answer 38

Indicate how safe the work environment is for employees

Question 39

Benchmarking

Answer 39

Occurs when an organisation measures it's performance against that of other leading organisations known for their excellence

Question 40

Organisation

Answer 40

Two or more people working together to achieve an objective.

Question 41

Stakeholders

Answer 41

Groups and individuals who interact with the organisation and have a vested interest in its activities

Question 42

Social responsibility

Answer 42

The obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community as well as the environment.

Question 43

Ethical management

Answer 43

The process of abiding by moral standards and doing the 'right' thing in the interests of all stakeholders

Question 44

Triple bottom line

Answer 44

The economic, social and environmental performance of an organisation

Question 45

Balance of payments

Answer 45

A country's record of its trade and financial transactions with the rest of the world.