12 BUS- Ch 1 Large Scale Organisations In Context Flashcards Preview

Business Management > 12 BUS- Ch 1 Large Scale Organisations In Context > Flashcards

Flashcards in 12 BUS- Ch 1 Large Scale Organisations In Context Deck (45):
1

Large scale organisation

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

2

Multinational corporation

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

3

Corporation

Owned by shareholders and aims to make a profit.

4

Shareholder

Any person who owns shares in a company

5

Government Business Enterprise

Government owned and operated

6

Objective

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

7

Vision statement

States what the organisation aspires to become

8

Mission statement

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

9

Strategies

The actions that an organisation takes to achieve specific objectives.

10

Gross Domestic Product

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

11

Research and Development

Activities undertaken to improve existing products and create new ones.

12

Invention

The development of something new

13

Innovation

Occurs when something already established is improved upon.

14

Infrastructure

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

15

Downsizing

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

16

Outsourcing

The contracting of some organisational operations to outside suppliers.

17

Internal environment

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

18

External environment

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

19

Operating environment

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

20

Customers

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

21

Suppliers

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

22

Competitors

Other organisations that offer rival products or services

23

Lobby groups

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

24

Macro environment

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

25

Globalisation

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

26

Effectiveness

The degree to which an organisation has achieved its stated objectives

27

Efficiency

How well an organisation uses resources to achieve objectives

28

Performance indicators

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

29

Net profit

What remains when expenses are deducted from the revenue earned

30

Number of sales

Measures the amount of products sold

31

Percentage of marketshare

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

32

Rate of productivity growth

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

33

Customer survey

Measures how satisfied customers are with the organisation's performance

34

Staff survey

Measures how satisfied staff are with the organisation

35

Staff turnover

Measures the number of staff who are leaving the organisation

36

Customer complaints

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

37

Level of wastage

Measures the amount of waste created by the production process

38

Number of workplace accidents

Indicate how safe the work environment is for employees

39

Benchmarking

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

40

Organisation

Two or more people working together to achieve an objective.

41

Stakeholders

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

42

Social responsibility

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.

43

Ethical management

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

44

Triple bottom line

The economic, social and environmental performance of an organisation

45

Balance of payments

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