12 BUS- Ch 1 Large Scale Organisations In Context Flashcards Preview

Business Management > 12 BUS- Ch 1 Large Scale Organisations In Context > Flashcards

Flashcards in 12 BUS- Ch 1 Large Scale Organisations In Context Deck (45)
Loading flashcards...
31

Percentage of marketshare

Proportion of the total industry that a business has, expressed as a percentage.

32

Rate of productivity growth

Measures the change in productiveness in one year compared to the previous year.

33

Customer survey

Measures how satisfied customers are with the organisation's performance

34

Staff survey

Measures how satisfied staff are with the organisation

35

Staff turnover

Measures the number of staff who are leaving the organisation

36

Customer complaints

Indicate whether or not customers are satisfied with the performance of the organisation

37

Level of wastage

Measures the amount of waste created by the production process

38

Number of workplace accidents

Indicate how safe the work environment is for employees

39

Benchmarking

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

40

Organisation

Two or more people working together to achieve an objective.

41

Stakeholders

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

42

Social responsibility

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.

43

Ethical management

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

44

Triple bottom line

The economic, social and environmental performance of an organisation

45

Balance of payments

A country's record of its trade and financial transactions with the rest of the world.