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Business Management > Sac 1 > Flashcards

Sac 1 Flashcards

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0
Q

Large-scale organisation (LSO)

A

A large scale organisation employs 200 or more people, earns revenue in the millions, or has assets of more than $200 million

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1
Q

What is an organisations?

A

An organisation is two or more people working together to achieve an objective.

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2
Q

What is a multinational corporation?

A

A multinational corporation is owned and based in one country and operates in many countries throughout the world.

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3
Q

What is a shareholder?

A

A shareholder is any person who owns shares in a company.

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4
Q

What is an objective?

A

An objective is a desired goal, outcome or specific result that an organisation intends to achieve.

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5
Q

What is a government department?

A

Government departments exist at all three levels of government, the provide essential community services, such as health, education and welfare.

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6
Q

What is government business enterprise?

A

A government business enterprise is government owned and operated.

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7
Q

What is a vision statement?

A

A vision statement states what the organisation aspires to become.

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8
Q

What is a mission statement?

A

The mission statement expresses why an organisation exists, it’s purpose and how it will operate.

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9
Q

What are strategies?

A

Strategies are the actions that an organisation takes to achieve specific objectives.

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10
Q

What is an invention?

A

An invention is the development of something new.

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11
Q

What is innovation?

A

Innovation occurs when something already established is improved upon.

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12
Q

What are balance of payments?

A

The balance of payments is a record of a country’s trade and financial transactions with the rest of the world.

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13
Q

What are infrastructures?

A

Infrastructures refer to highways, railways, airports, communication, systems, education and health facilities, water, gas, and electricity supplies.

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14
Q

What is downsizing?

A

Downsizing involves workplace staff reductions with the elimination of jobs and positions.

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15
Q

What is outsourcing?

A

Outsourcing is the contracting of some organisational operations to outside suppliers.

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16
Q

What does internal environment refer to?

A

The internal environment includes those things over which the organisation has some degree of control of.

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17
Q

What is external environment?

A

The external environment includes those things over which the business has little control. it may be divided into operating environment and a macro environment.

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18
Q

What is the operating environment?

A

The operating environment refers to the outside factors with which the organisation directly interacts in the course of conducting its business.

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19
Q

What are customers?

A

Customers are the buyers or users of the products of a large scale organisation.

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20
Q

What are competitors?

A

Competitors are other organisations that offer rival products or services.

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21
Q

What are the suppliers?

A

An organisations suppliers are those organisations and individuals that supply resources to the organisation, allowing it to conduct its operatons.

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22
Q

What are lobby groups?

A

Lobby groups are groups of people who attempt to directly influence persuade an organisation. To adopt particular policies.

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23
Q

What is the macro environment?

A

The macro environment is made up of the broad factors in the economy and society within which the organisation operates.

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24
What is globalisation?
Globalisation is 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.
25
What is effectiveness?
Effectiveness is the degree to which an organisation has achieved it's stated objectives.
26
What is efficiency?
Efficiency refers to how well an organisation uses resources to achieve objectives.
27
What are key performance indicators?
Key performance indicators are specific criteria used to measure the efficiency and effectiveness of the organisations performance.
28
What is profitability?
Profitability measures the earning performance of the organisation.
29
What does the number of sales measure?
Number of sales measures the number of products sold.
30
What is the percentage of market share?
Percentage of market share is the proportion of the total market that a business has, expressed as a percentage.
31
What does the rate of productivity growth measure?
The rate of productivity growth measures the change in productivity in one year compared to the previous years.
32
What does a customer survey measure?
A customer survey measures how satisfied customers are with the organisations performance.
33
What does a staff survey measure?
A staff survey measures how satisfied staff are within an organisation.
34
What does the staff turnover measure?
Staff turnover measures the number of staff who are leaving the organisation.
35
What are customer complaints?
Customer complains indicate whether or not customers are satisfied with the performance of the organisation.
36
What does the level of wastage measure?
The level of wastage measures the amount of waste created by the production processes.
37
What does the number of workplace accidents indicate?
The number of workplace accidents indicates how safe the workplace is for employees.
38
What is benchmarking?
Benchmarking occurs when an organisation measures it's performance against that of other leading organisations known for their excellence.
39
What are stakeholders?
Stakeholders are groups and individuals who interact with the organisation and have an interest in its activities.
40
What is social responsibility?
Social responsibility is the obligations a business has over and above its legal responsibilities to the well being of employees and customers, shareholders, and the community as well as the environment.
41
What does ethical management refer to?
Ethical management refers to the processes of abiding by moral standards and doing the 'right' thing in the interests of all stakeholders.
42
What is a shareholder?
A shareholder is any person who owns shares in a company.
43
What is a corporation?
A corporation is owned by shareholders and aims to make a profit.
44
What is Staff morale?
how happy people are at work.
45
What is the board of directors?
A body of elected member to jointly oversee the activities of a company or organisation
46
What is research and development?
Refers to activities undertaken to; - improve existing products - create new products
47
What are exports?
Goods or services that sent to another country for sale.
48
What are imports?
Goods or services that are brought into a country for sale.
49
What is gross domestic product (GDP)
Refers to the total monetary value of all goods and services produced in a country over one year.
50
What are unions?
Unions represent employees in many workplaces, attempt to negotiate pay and work conditions on employees behalf.
51
What are employees?
Those who manufacture or produce the products the organisation sells
52
What is management?
Management has the responsibility to run a profitable/successful business.
53
What is profit?
Profit is the financial gain the organisation rates.
54
What is human resources?
The development of strategies to meet the organisations future human resource needs
55
What is Staff morale?
how happy people are at work.
56
What is the board of directors?
A body of elected member to jointly oversee the activities of a company or organisation
57
What is research and development?
Refers to activities undertaken to; - improve existing products - create new products
58
What are exports?
Goods or services that sent to another country for sale.
59
What are imports?
Goods or services that are brought into a country for sale.
60
What is gross domestic product (GDP)
Refers to the total monetary value of all goods and services produced in a country over one year.
61
What are unions?
Unions represent employees in many workplaces, attempt to negotiate pay and work conditions on employees behalf.
62
What are employees?
Those who manufacture or produce the products the organisation sells
63
What is management?
Management has the responsibility to run a profitable/successful business.
64
What is profit?
Profit is the financial gain the organisation rates.
65
What is human resources?
The development of strategies to meet the organisations future human resource needs
66
What is Staff morale?
how happy people are at work.
67
What is the board of directors?
A body of elected member to jointly oversee the activities of a company or organisation
68
What is research and development?
Refers to activities undertaken to; - improve existing products - create new products
69
What are exports?
Goods or services that sent to another country for sale.
70
What are imports?
Goods or services that are brought into a country for sale.
71
What is gross domestic product (GDP)
Refers to the total monetary value of all goods and services produced in a country over one year.
72
What are unions?
Unions represent employees in many workplaces, attempt to negotiate pay and work conditions on employees behalf.
73
What are employees?
Those who manufacture or produce the products the organisation sells
74
What is management?
Management has the responsibility to run a profitable/successful business.
75
What is profit?
Profit is the financial gain the organisation rates.
76
What is human resources?
The development of strategies to meet the organisations future human resource needs

Business Management (4 decks)

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