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Yr 12 VCE Business Management - U3 AoS 1
Transcript of Yr 12 VCE Business Management - U3 AoS 1
Large-scale organisations have:
revenue in the $millions
assets of $200 million
large market share
complex organisational structure
Types of LSO's
Contribution to the Economy
Expresses why an organisation exisits, its purpose and how it will operate.
Objectives can be established around profit, customer service and environmental impact.
Those things that the organisation has some degree of control over:
Social Responsibility: the obligations a business has over and above its legal responsibilities to the well being of its customers, the community and the environment
Ethical Management: refers to the process of abiding by moral standards and doing the 'right thing' when making business decisions that affect the stakeholders.
The 5 common management functions are:
Research and Development
A corporation is owned by shareholders and aims to make a profit.
A shareholder is any person who owns shares in a company.
3 types of corporations are:
Public companies which are listed and traded on the ASX, which include BHP and Wesfarmers.
Private companies that not listed on the ASX and have no more than 50 shareholders, such as Rip Curl and Retravision.
Government business enterprises which are owned and operated by the government, which include Australia Post and Medibank.
Not-for profit organisations provide goods, services to prevent social problems or operate to benefit the community, such as the Salvation Army and World Vision.
Government departments aim to provide essential community services such as health, education and welfare.
Examples include the Department of Education and the Department of Defence.
Strategies are the actions that an organisation takes to achieve specific objectives.
States what the organisation aspires to become.
An objective is a desired goal, outcome or specific result that an organisation intends to achieve.
LSO's develop objectives and strategies using their vision and mission statements as a guide.
Contribution to Economic Growth
Large-scale organisations contribute to the economic growth of Australia by their:
Contribution to Employment
Contribution to Exports
Contribution to Research and Development
Contribution to Infrastructure
LSOs employ large amounts of people that enable them to spend more and gernerate higher standards of living.
Many LSOs export their goods and services overseas which creates jobs, boosts incomes and improves living standards.
Research and development refers to the activities to improve existing products and create new products.
Infrastructure refers to the highways, railways, airports, communications systems, education and health facilities, water, gas and electricity supplies.
Negative Contributions of LSOs
LSOs are sometimes criticised for their negative contributions they make to the Australian economy, such as:
Damage to the Environment
Downsizing a cutback in a organisation's operations and usually implies a reduction in its employee headcount as well.
Outsourcing is the practice of having non-core tasks completed by an external organisation.
Some LSOs cause damage to the environment by polluting and their greenhouse gas emissions which can impact the economy due to the costs of repairing the damage.
Those things that the organsiation has little control over:
Those things that the organisation has no control over:
Are specific criteria used to measure the efficiency and effectiveness of the organisations performance.
Number of Sales
Percentage of Market Share
Rate of Productivity Growth
Level of Staff Turnover
Number of Customer Complaints
Level of Wastage
Number of Workplace Accidents
-indicate whether or not customers are satisfied with the performance of the organisation.
-measures the amount of waste created by the production process.
-measures the number of staff who are leaving the organisation.
-indicates how safe the workplace is for employees
-measures the number of products sold
-measures the earning performance of the organisation
-is the proportion of the total market that a business has, expressed as a percentage
Key Performance Indicators
-measures the change in the productivity in one year compared to the previous year
Stakeholders are groups and individuals who interact with the organisation and have an interest in its activities.
Society is increasingly expects organisation to be socially responsible and act ethically towards their stakeholders.