large scale organisation in context

Question 1

corporation

Answer 1

is owned by shareholders and aims to make a profit

Question 2

shareholder

Answer 2

is any person who owns shares in a company

Question 3

government business enterprise

Answer 3

is government owned and operated

Question 4

objective

Answer 4

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

Question 5

vision statement

Answer 5

states what the organisation to become.

Question 6

mission statement

Answer 6

expresses why an organisation exists, it purposes and how it will operate.

Question 7

strategies

Answer 7

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

Question 8

gross domestic product

Answer 8

refers to the total monetary value of all goods and services produced in a country over one year

Question 9

balance of payments

Answer 9

is a record of a countries trade and financial transactions with the rest of the world.

Question 10

research and development

Answer 10

refers to activities undertaken to:

improve existing products and create new products

Question 11

invention

Answer 11

is the development of something new

Question 12

innovation

Answer 12

occurs when something already established is improved on.

Question 13

infrastructure

Answer 13

refers to highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies.

Question 14

downsizing

Answer 14

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

Question 15

outsourcing

Answer 15

is the contracting of some organisational operations to outside suppliers

Question 16

internal environment

Answer 16

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

Question 17

external environment

Answer 17

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

Question 18

operating environment

Answer 18

refers to the outside factors with which the organisation directly interacts in the course of conducting it’s business.

Question 19

customers

Answer 19

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

Question 20

suppliers

Answer 20

are those organisations and individuals that supply resources to the organisation, allowing it to conduct it’s operations.

Question 21

competitors

Answer 21

are those organisations that offer rival products or services.

Question 22

lobby groups

Answer 22

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

Question 23

macro environment

Answer 23

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

Question 24

globalisation

Answer 24

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 25

effectiveness

Answer 25

is the degree to which an organisation has achieved it’s stated objectives.

Question 26

efficiency

Answer 26

how well and organisation uses its resources to achieve objectives

Question 27

key performance indicators

Answer 27

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

Question 28

profitability

Answer 28

measuring the earning performance of the organisation

Question 29

number of sales

Answer 29

measures the number of products sold.

Question 30

percentage of market share

Answer 30

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

Question 31

rate of productivity growth

Answer 31

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

Question 32

customer survey

Answer 32

measures how satisfied customers are with the organisations performance .

Question 33

staff survey

Answer 33

measures how satisfied staff are within the organisation

Question 34

staff turnover

Answer 34

measures the number of staff who are leaving the organisation

Question 35

customer complaints

Answer 35

indicates whether or not customers are satisfied with the performance of the organisation.

Question 36

level of wastage

Answer 36

measures the amount of waste created by the production process.

Question 37

number of workplace accidents

Answer 37

indicates how safe the workplace is for employees.

Question 38

benchmarking

Answer 38

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

Question 39

stakeholders

Answer 39

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

Question 40

social responsibility

Answer 40

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.

Question 41

ethical management

Answer 41

refers to the process of abiding by moral standards and doing the ‘right’ thing in the interest of all stakeholders.