unit 1 Flashcards
(88 cards)
1
Q
what is an organisation
A
a group of people who come together for a common purpose
2
Q
what is the public sector
A
organisations owned and controlled by national governments or local authorities
run for the benefit of the whole nation or local area.
3
Q
examples of public sector
A
NHS
education
armed forces
environmental services
4
Q
what is the private sector
A
a term used to describe businesses ranging in size and structure, owned
controlled by an individual or group,
run for profit-making activities
5
Q
how many employees in a micro business
A
1 - 9
6
Q
how many employees in a small business
A
10 - 49
7
Q
how many employees in a medium business
A
50 - 249
8
Q
how many employees in a large business
A
250+
9
Q
what is a sole proprietorship
A
businesses owned by on person
10
Q
what is a partnership
A
a business owned by 2 or more people
11
Q
what is co-operatives
A
business owned by a group of people each with one vote on decisions made
12
Q
what is a limited liability corporations
A
can be owned by one or more person.
owners can be directors and shareholders
13
Q
reasons to be in private sector
A
financial freedom
making a difference
personal satisfaction
profit maximization
profit satisficing
market share
14
Q
what is the third sector
A
also known as not-for-profit and voluntary
15
Q
what are the three main types of the third sector
A
- voluntary or community groups
- registered charities
- non-government organisations
16
Q
what are the values of the third sector
A
- helping to improve people’s lives in some way
- delivering essential services
- contributing to economic growth
- playing a role in supporting communities at local levels
17
Q
what is constraints
A
a specific pressure that makes it difficult or prevents an organisation to operate freely in any way it wants
18
Q
what is a mission
A
a short statement on the business’s reasons for existing and overall goal
19
Q
what is a vision
A
an inspirational statement describing what the owners intend to achieve in the next 5-10+ years
20
Q
what is a value
A
the core principals and ethics of the business
21
Q
what is an objective
A
the goals the owners want the business to achieve in the next 1-5 years and the techniques they will use to do that
22
Q
what is SWOT
A
STRENGTHS - the internal advantages
WEAKNESSES - internal factors that effect the business
OPITUNITIES - how they can overtake competitors
THREATS - things that can prevent the business from succeeding
23
Q
what does PESTLE stand for
A
political
economic
social
technological
legal
environmental
24
Q
what are the internal factors that impact on organisations
A
capital
budgets
staff management
internal processes
25
what are some international factors that impact organisations
time zones
currency rates
language barriers
26
what is trading
an economic concept that identifies trading as the buying and selling of goods and services
27
what is a good
tangible products that can be seen, handled, smelt, tasted or heard
28
what is a service
intangible goods that cannot generally be physically touched in any way
29
what sector are most likely to trade
Private sector
they are responsible for following the national laws and regulations for trading
30
what is primary legislation
acts of law passed by parliament are referred to as statutes
31
what does the statute book refer to
the whole stature law currently in force
32
what is secondary legislation
delegated legislation conferring powers on government ministers, the crown and public bodies
33
what are the three main areas that primary legislation impact
1. consumer protection
2. competition law
3. employment law
34
what is consumer protection
a section of law designed to safeguard buyers of products against deception, defective products and fraudulent business practices
35
what are the legislations that effect consumer protection
- consumer rights act 2015
- consumer contracts regulations 2013
- protection from unfair trading regulation 2008
- consumer credit act 1974 (amended 2006)
- consumer protection act 1987
36
what is competition law
aims to protect healthy competition by ensuring business organisations do not operate in a manner that involves anti-competitive agreements or practices
37
what legislations apply to competition law
- the competition act 1998
- the enterprise act 2002
38
what is employment law
aims to ensure that all organisations treat people equally and fairly wherever they are located
39
what laws apply to employment law
- employment rights act 1996
- the equality act 2010
- health & safety at work act 1974
40
what is a trading standards office
TSO is a government service designed to protect consumers from rogue trader and scams.
41
what is the environmental law
no decisions on trading location can be taken without considering the impact of doing business on the environment
42
what are the benefits of self-management for the company
- allows greater collaboration
- creates an open and honest working culture
- creates a better working place
- improves staff performance
- allows employees to develop their career
43
what are some benefits of self management for the employee
- learn to manage your own time
- setting your own SMART targets
- taking accountability for your actions
- increased opportunities for promotion
- feeling more productive in the workplace
44
what is resilience
to be resilient is to be able to withstand, or recover quickly from a difficult condition or situation
45
how to be resilient
- develop strong relationships with others
- manage work stress appropriately
- look for training opportunities
- be adaptable
- build networks
- build self confidence
- maintain perspective
46
what does hierarchical organisational structure contain
- clear chain of command
- pyramid shape
- CEO/board of directors at top
- middle/operational management levels
- workers levels- tasks and operations based
- every employee has a supervisor to report to
47
what are 3 advantages to hierarchical structure
1. clear line of communication
2. employees develop high level specialist skills
3. motivates employees looking for chance of promotion
48
what are 3 disadvantages of hierarchical structure
1. costs may be higher
2. demotivates employees who think they're just a number/not valued
3. employees only concerned with own tasks/department not company goals
49
what does a flat structure contain
- democratic management style
- employees at same level as management
- everyone involved in planning and decisions
- high levels of trust between owners/staff
50
what are 3 advantages of flat structure
1. gives employees more responsibility and opportunities to develop skills
2. promotes open communications styles to keep projects on track
3. co-ordination of activities improved, as everyone aware of what's going on
51
what are 3 disadvantages of flat structure
1. everyone may need to be a generalist
2. can be confusing for employees to know who to ask for help or answer to
3. difficult to maintain if company grows beyond a few projects and clients
52
what does a matrix structure contain
- uses cross-functional teams
- works on a project-by-project basis
- employees may have several managers
- uses a grid approach to planning
53
what are 3 advantages to matrix structure
1. allows managers to choose the best skills for each project
2. motivates employees to use their skills in other roles
3. offers more flexibility when making project decisions
54
what are 3 disadvantages to matrix structure
1. can create conflict between project managers if need same skills
2. employees may be overwhelmed if too much demand on their skills/time
3. highly skilled employees may be poached by competitors
55
what is a functional organisation structure
- organises employees into specific departments
- each department has a specific purpose
- there is a hierarchy in each department
56
what are 3 advantages to a functional structure
1. allows employees to focus
2. encourages specialisation
3. helps build strong teams with own identity
57
what are 3 disadvantages of functional structure
1. inter-departmental communication not as effective
2. transferable skills
3. some employees may feel trapped
58
what is a market-based divisional organisation structure
divisions are organised according to their industry, customer types and markets
59
what is a product-based divisional organisation structure
divisions within the organisation are dedicated to a specific product
60
what is a geographically-based divisional organisation structure
divisions are organised according to their location
61
what are the 3 different levels of roles in an organisation
1. executive
2. management
3. operational
62
what are the 2 management levels
1. middle management
2. team leader
63
what are the top CSR goals (3Ps)
1. planet
2. people
3. profits
64
what are 3 benefits of a company having ethical behaviours
1. good publicity
2. attracts customers
3. competitive advantage
65
what is a big problem for the company becoming ethical
it will increase costs
66
what are constraints
a specific pressure that makes it difficult or prevents an organisation to operate in any way it wants
67
what is a mission
a short statement in the business's reasons for existing and its overall goal
68
what is a vision
an inspirational statement describing what the owners intend to achieve in the next 5-10+ years
69
what are values
the core principals and ethics of the business
70
what are objectives
the goals the owners want to achieve in the next 1-5 years and how
71
what are 4 other internal factors that impact on organisations
1. capital
2. budgets
3. staff management
4. internal processes
72
what are the 3 international factors that impact on organisations
1. time zones
2. currency rates
3. language barriers
73
what are the 3 types of emerging technological changes
1. products
2. processes
3. communications
74
what are the 4 ways the size of the business affects the organisation in terms of:
1. structure
2. work specialisation
3. departmentalisation
4. formalisation
75
what are the 4 main corporate governance roles
1. chief executive officer (CEO)
2. chief operating officer (COO)
3. chief finance officer (CFO)
4. board of directors (BoD)
76
what is organisational culture
a collection of values, beliefs and assumptions that sets out its expectations on how people should behave, how its decisions are made and ways things should be done
77
what are organisational core values
the authentic and deeply ingrained guiding principles of all the company's actions and activities
78
what are the 3 factors of culture in an organisation
1. leadership/management styles
2. decision-making processes
3. how success is viewed
79
what are the 5 regulatory bodies
1. information commissions officer (ICO)
2. health and safety executive (HSE)
3. equality advisory support group
4. human rights commission
5. prosecution services
80
what is the role of an information commissioners office
- regulates freedom of information
- protects personal data
81
what are the powers of an information commissioners office
- issue notices
- enforce ban on processing personal data
- impose fines
82
what is the health and safety executive (HSE) role
to prevent workplace death, injury or ill health
83
what are the health and safety executive (HSE) powers
- enter premises
- inspect
- collect evidence
84
what is the role of the equality advisory support service
to assist individuals on equality/human rights
85
what are the powers of the equality advisory support service
- no legal compliance
86
what is the role of the equality and hum rights commission
to enforce the legislation of the equality act 2010
87
what are the powers of the equality and hum rights commission
- investigate complaints
- offer legal assistance
- intervention
88
what are the 3 types of impacts that an organisation can create
1. social
2. economic
3. environmental
