Aims, purpose, values and structure Flashcards

1
Q

What are the three main types of organisations?

A

Private sector
Public sector
Voluntary or non profit

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2
Q

What are private sector organisations?

A

Owned by businesses
Exist to make a profit
Trade in a competitive market

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3
Q

What are public sector organisations?

A

Funded by the Government
Provide services to public
Do not exist to make a profit
Are financed through the public

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4
Q

What are voluntary or non profit organisations?

A

Motivated by the desire to achieve social goals (improving public welfare)
Reinvest money rather than creating profit
Benefit the public
Includes local community projects and groups

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5
Q

Examples of private sector businesses

A
Thomas Cook
Co-op
Alton Towers
Premier Inn
Topshop
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6
Q

Examples of public sector businesses

A

NHS
British Army
BBC

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7
Q

Examples of voluntary organisations

A

National Trust
British Heart Foundation
Help for Heroes

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8
Q

What is organisational culture?

A

The way an organisation demonstrates its values and purpose

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9
Q

What are business values?

A

They are the core principles or standards that guide the way an organisation does business. They sum up what the business stands for and what makes it special. Core values always remain the same.

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10
Q

What is a mission statement?

A

The purpose of the organisation or its reason for existing
It is a written declaration of an organisations core purpose and focus
Defines the business, objectives and approach

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11
Q

What is a vision statement?

A

Describes the desired future position of the company

Outlines what the business hopes to achieve

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12
Q

Why are mission and vision statements important?

A

Clarify direction, aims and objectives

Promote a specific organisational culture and attract customers/stakeholders

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13
Q

What is a business aim?

A

It is a statement of purpose about where the business would like to be in the future

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14
Q

What is a business objective?

A

The stated, measurable targets of how a business plans to achieve its aims

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15
Q

Why are aims and objectives important?

A

Provide a clear direction
Able to plan activities aligned with aims
Promote a culture that works towards the same goals

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