business management sac 1

Organisation
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Terms in this set (16)
Organisation
a formal or structured arrangement where two or more people work together to accomplish some specific purpose or set of objectives
size - number of employees or members, revenue and assets
A factor that shows the difference between organisation 'S'
Nature of operation - whether the organisation has been established as a business enterprise or for social interaction
A factor that show the difference between organisation starting with 'NOP'
form of legal ownership - Whether a business is a sole trader, partnership, cooperative or as a trust
A factor that show the difference between organisation starting with 'FOLO'
Extent of their marketshare - Organisations are compared based on the particular market they command
A factor that show the difference between organisation starting with 'EOTM'
Contribution to the economy - how much monetary value it provides to the Gross Domestic Value (GDV)
A factor that show the difference between organisation starting with 'CTTE'
Profit Business
exist to make profit
Not-For-Profit
exist to provide a service and make important contributions to society
Mission statement
a global statement that reflects an organisations reasons for being the way it will be managed
Vision statement
statement that outlines the hopes or ambitions of the organisation
Profit or Surplus - Profit needs its amount to be sufficient for investments. surplus needs to be sufficient to allow it to perform social objectivesFINANCIAL objective of an organisation 'Profit or Surplus'Product sales & market share - increases its sales in hope of marketing the business more profitableFINANCIAL objective of an organisation 'Product sales & market share'Growth - combination of its market share growth and profit growthFINANCIAL objective of an organisation 'Growth'ensure on-going employment, training and development, career paths for employeesSOCIAL objective of an organisation "ensure on-going"provide services or be involved in supporting community projectsSOCIAL objective of an organisation "provide services"produce environmentally friendly productsSOCIAL objective of an organisation "environmentally"