Large Scale Organisations

Question 0

Large scale organisation

Answer 0

Employs 200 or more people
Earns revenue in the millions
Has assets worth more than $200 million

Question 1

Organistaion

Answer 1

Two or more people working together to achieve an objective

Question 2

Multinational corporation

Answer 2

Owned and operated in one country

Operates in many countries throughout the world

Question 3

Corporation

Answer 3

Owned by shareholders

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

Vision statement

Answer 6

What the organisation aspires to become

Question 7

Mission statement

Answer 7

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

Question 8

Objective

Answer 8

A desired goal that an organisation intends to achieve

Question 9

Strategies

Answer 9

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

Balance of payments

Answer 11

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

Question 12

Research & development

Answer 12

Activities undertaken to:
Improve existing products (innovation)
Create new products (invention)

Question 13

Invention

Answer 13

Development of something new

Question 14

Innovation

Answer 14

Occurs when something already established is improved upon

Question 15

Infrastructure (examples)

Answer 15

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

Question 16

Downsizing

Answer 16

Involves workplace staff reduction, with the elimination of jobs and positions

Question 17

Outsourcing

Answer 17

The contracting of organisational operations to outside suppliers

Question 18

The internal environment

Answer 18

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

Question 19

The external environment

Answer 19

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

Question 20

Operating environment

Answer 20

Refers to the outside factors with which the organisation directly interacts with in the course of conducting its business

Question 21

Customers

Answer 21

The buyers or users of the products of LSOs

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 high 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 26

Effectiveness

Answer 26

The degree to which an organisation has achieved its stated objectives

Question 27

Efficiency

Answer 27

Refers to how well an organisation uses resources to achieve objectives

Question 28

Key performance indicators (KPIs)

Answer 28

Specific criteria used to measure the efficiency and effectiveness of the organisations performance

Question 29

Profitability

Answer 29

Measures the earning performance of the organisation

Question 30

Number of sales

Answer 30

Measures the number of products sold

Question 31

Percentage of market share

Answer 31

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

Question 32

Rate of productivity growth

Answer 32

Measures the change in productivity in one year compared to the previous year

Question 33

Customer survey

Answer 33

Measures how satisfied customers are with the organisations performance

Question 34

Staff survey

Answer 34

Measures how satisfied staff are within 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 incidents

Answer 38

Indicates how safe the workplace of for employees

Question 39

Benchmarking

Answer 39

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

Question 40

Stakeholders

Answer 40

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

Question 41

Social responsibility

Answer 41

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 42

Ethical management

Answer 42

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

Question 43

Triple bottom line

Answer 43

Refers to the economic social and environmental performance of an organisation