Tricky/Key Definitions

Question 1

Planning

Answer 1

is the process of defining objectives and determining methods or strategies that will be used to achieve those objectives.

Strategic (3+ Years)
Tactical (1-2 Years)
Operational (Day to Day)

Question 2

Organising

Answer 2

is the coordination of the organization’s human, physical and financial resources to achieve results

Question 3

Leading

Answer 3

is the process of influencing or motivating people towards the achievement of the organisations objectives

Skills:
Informational
Interpersonal
Decision Making

Question 4

Controlling

Answer 4

is the process of evaluating financial and non-financial performance and taking CORRECTIVE ACTION to ensure that the set objectives are achieved.

Establish standards, measure performance.

Question 5

Interpersonal (Leadership skill)

Answer 5

Involves liaising or dealing with people. Requires degree of emotional intelligence.

Question 6

Informational (Leadership skill)

Answer 6

Gathering, understanding and communicating or sharing data and knowledge.

Question 7

Decision Making (Leadership skill)

Answer 7

Making choices in order to solve problems or take up oppertunities

Question 8

Vision Statement

Answer 8

What the organisation aspires to become

Question 9

Mission Statement

Answer 9

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

Question 10

Functions in an LSO

Answer 10

Operations
Human Resources
Finance
Marketing
Research and Development

Question 11

Efficiency

Answer 11

Measure of how well an organisation uses resources to achieve objectives

Question 12

Effectiveness

Answer 12

The degree to which an organization’s has achieved it’s stated objectives

Question 13

Employee Relations

Answer 13

Relationship between management and employers in determining the conditions of employment.

Wages, work hours, sick leave and paid holiday.

Question 14

Compare (Question Type)

Answer 14

State similarities and differences

Question 15

Evaluate (Question Type)

Answer 15

State advantages and disadvantages, make a judgment based on criteria

Question 16

Discuss (Question Type)

Answer 16

Identify issues and give points for/against

Question 17

Analyse (Question Type)

Answer 17

Identify components and the relationship between them

Question 18

Define (Question Type)

Answer 18

Provide meaning and identify essential qualities

Question 19

Justify (Question Type)

Answer 19

Support an argument or conclusion

Question 20

Corporate Culture

Answer 20

Core values and beliefs of an organisation

Question 21

Social Responsibility

Answer 21

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 22

Ethics

Answer 22

Application of moral standards, what is good or right.