Chapter One - Large Scale Organisations in Context

Question 1

Large-scale organisation

Answer 1

One that employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million

Question 2

Multinational corporation

Answer 2

An organisation owned and based in one country, and operates in many countries throughout the world

Question 3

Corporation (or company)

Answer 3

An organisation owned by shareholders that aims to make a profit

Question 4

Shareholder

Answer 4

Any person who owns a share in a company

Question 5

Government Business Enterprise

Answer 5

An organisation that is government owned and operated

Question 6

Balance of payments

Answer 6

A record of a country’s trade and financial transactions with the rest of the world

Question 7

Invention

Answer 7

The development of something new

Question 8

Innovation

Answer 8

A process that occurs when something already established is improved upon

Question 9

Globalisation

Answer 9

The effect of hi-tech communications, lower transport costs and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system

Question 10

Strategies

Answer 10

The actions that an organisation takes to achieve specific objectives

Question 11

Suppliers

Answer 11

Those organisations and individuals that supply resources to the organisation, allowing it to conduct its operations

Question 12

Staff survey

Answer 12

A measure of how satisfied staff are within the organisation

Question 13

Staff turnover

Answer 13

A measure of the number of staff who are leaving the organisation

Question 14

Stakeholders

Answer 14

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

Question 15

Vision statement

Answer 15

A statement of what the organisation aspires to become

Question 16

Rate of productivity growth

Answer 16

A measure of the change in productivity in one year compared to the previous year

Question 17

Macro environment

Answer 17

The broad factors in the economy and society within which the organisation operates

Question 18

Operating environment

Answer 18

The outside factors with which the organisation interacts in the course of conducting its business

Question 19

Outsourcing

Answer 19

Contracting some organisational operations to outside suppliers

Question 20

Social responsibility

Answer 20

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 21

Mission statement

Answer 21

A statement expressing why an organisation exisits, it’s purpose and how it will operate

Question 22

Number of workplace accidents

Answer 22

An indication of how safe the workplace is for employees

Question 23

Number of sales

Answer 23

The number of products sold

Question 24

Percentage of market share

Answer 24

The proportion of the total market that a business has, expressed as a percentage

Question 25

Lobby groups

Answer 25

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

Question 26

Internal environment

Answer 26

All those things over which the organisation has some degree of control

Question 27

Objective

Answer 27

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

Question 28

Level of wastage

Answer 28

The amount of waste created by the production process

Question 29

Ethical management

Answer 29

Abiding by moral standards and doing the ‘right’ thing in the interests of all stakeholders

Question 30

Efficiency

Answer 30

A measure of how well an organisation uses resources to achieve objectives

Question 31

Downsizing

Answer 31

Workplace staff reductions, with the elimination of jobs and positions

Question 32

Customers

Answer 32

The buyers or users of the products of a large-scale organisation

Question 33

Employee

Answer 33

A worker under an employer’s control. Control may involve the location of the workplace, the way in which the work is performed or the degree of the supervision involved. These criteria are critical in determining legal disputess over over the employment contract

Question 34

Customer survey

Answer 34

A measure of how satisfied customers are with the organisation’s performance

Question 35

Benchmarking

Answer 35

A process in which an organisation measures its performance against that of other leading organisation’s known for their excellence

Question 36

External environment

Answer 36

This includes things over which the business has little control. It may be divided into an operating environment and a macro environment.

Question 37

Competitors

Answer 37

Other organisations that offer rival products or services

Question 38

Effectiveness

Answer 38

The degree to which an organisation has achieved its stated objectives

Question 39

Infrastructure

Answer 39

Highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies

Question 40

Research and development

Answer 40

Activities undertaken to improve existing products or create new products

Question 41

Organisation

Answer 41

Two or more people working together to achieve an objective