Busman Chap1

Front 1

Organisation

Back 1

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

Front 2

LSO

Back 2

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

Front 3

Multinational corporation

Back 3

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

Front 4

Corporation

Back 4

A corporation is owned by shareholders and aims to make a profit.

Front 5

Shareholders

Back 5

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

Front 6

Government Business Enterprise (GBE)

Back 6

a GBE is government owned and operated

Front 7

Objective

Back 7

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

Front 8

Vision Statement

Back 8

The Vision statements states what the organisation aspires to become

Front 9

Mission Statement

Back 9

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

Front 10

Strategies

Back 10

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

Front 11

Gross domestic product

Back 11

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

Front 12

Balance of payments

Back 12

is a record of a country's trade and financial transaction with the rest of the world.

Front 13

Invention

Back 13

is the develop of something new.

Front 14

Innovation

Back 14

occurs when something already established is improved upon

Front 15

Infrastructure

Back 15

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

Front 16

Downsizing

Back 16

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

Front 17

Outsourcing

Back 17

is the contracting of some

organisational operations to outside suppliers.

Front 18

External Environment

Back 18

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

Front 19

Internal Environment

Back 19

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

Front 20

Operating Environment

Back 20

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

Front 21

Customers

Back 21

are the buyers or users of the products of a LSO

Front 22

Lobby Groups

Back 22

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

Front 23

Macro Environment

Back 23

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

Front 24

Globalisation

Back 24

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.

Front 25

Effectiveness

Back 25

is the degree to which an organisation has achieved its stated objectives

Front 26

Efficiency

Back 26

refers to how well an organisation uses resources to achieve objectives.

Front 27

Performance Indicators

Back 27

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

Front 28

Net Profit

Back 28

is what remains when expenses are deducted from the revenue earned.

Front 29

Percentage or market share

Back 29

is the proportion of the total market that a business has, expressed as a %

Front 30

Rate of Productivity growth

Back 30

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

Front 31

Staff turnover

Back 31

measures the number of staff who are leaving the organisation.

Front 32

Level of Wastage

Back 32

measures the amount of waste created by the production process.

Front 33

Number of workplace accidents

Back 33

indicates how safe the workplace is for employees

Front 34

Benchmarking

Back 34

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

Front 35

Stakeholders

Back 35

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

Front 36

Social Responsibility

Back 36

is 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.

Front 37

Ethical Management

Back 37

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

Front 38

Triple Bottom Line

Back 38

refers to the economic, social and environmental performance of an organisation.