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2.1 Internal Factors

Glossary for Internal Operations of a Large Business

TermDefinition
Organisational Structure The type of framework a company uses to distinguish power and authority, roles and responsibilities, and the manner in which information flows through the company.
Tall Organisational Structure Has many levels of hierarchy and a short span of control
Flat Organisational Structure Has few levels of hierarchy and a long span of control
Span of control The number of people a manager is responsible for
Centralised Organisation The authority to make decisions is concentrated within a particular group
Decentralised Organisation The authority to make decisions is given to lower-level managers and employees in the organisation.
Functional Organisational Structure The company is organised according in specialised departmental areas such as finance, marketing, operations and human resources
Matrix Organisational Structure Reporting relationships are set up as a grid, or matrix, rather than in the traditional hierarchy
Organisational Culture The values and behaviours that contribute to the unique identity of an organisation
Power Culture Is based on the dominance of one or a small number of individuals who make the key decisions for the organisation.
Role Culture Exists in large hierarchical organisations in which individuals have clear roles (jobs) to perform which are closely specified
Task Culture Exists when teams are formed to complete particular tasks
Person Culture The most individualistic form of culture exists when individuals are fully allowed to express themselves and make decisions for themselves
Collaborative Culture Two or more parties working together where people attend to personal interests but also to outcomes benefiting the whole
Production The measured output of a business in a period of time. The process of turning tangible and intangible inputs into products.
Efficiency How effectively a business is using its resources (time, money, labour, materials). Saving or minimising resources increases efficiency
Work Study A system of assessing methods of working so as to achieve the maximum output and efficiency
Productivity A measure of efficiency, measured in terms of the rate of output per unit of input
Lean Production Using as few resources and eliminating waste to improve productivity in delivering value and quality from the customer's perspective
Economies of scale Cost advantages that enterprises obtain due to size, output, or scale of operation. Average costs fall.
Diseconomies of scale Describes when firms may become less efficient if it becomes too large. Average costs rise.
Capacity How efficient a company is producing goods and services compared to its maximum production level.
Job Production A method of prodution where each job is unique. Suitable for producing a variety of products at low volume
Batch Production Producing a set quantity of one product at a time.
Flow Production Production activities flow smoothly in one direction throughout the factory, suitable for large volume in a very efficient manner
Authoritarian Leadership A leadership style in which the leader dictates policies and procedures, decides what goals are to be achieved, and directs and controls all activities without meaningful participation by lower levels
Paternalistic Leadership A type of fatherly managerial style employed by dominant males where their organisational power is used to protect and control subordinate staff who are expected to be loyal and obedient.
Democratic Leadership Involves a team guided by a leader where all individuals are involved in the decision making process to determine what needs to be done and how it should be done. The group’s leader has the final decision of the group.
Laissez faire Leadership A non-authoritarian leadership style, these type of leaders try to give the least possible guidance to subordinates, and try to achieve control though less obvious means.
Horizontal Integration When one business merges with another in the same industry and at the same stage of production
Vertical Integration When one business merges with or takes over another in the same industry but at a different stage of production
Internal Controls Systems, policies, procedures and practices to maintain the operational integrity (honesty, accuracy, transparency) of the business
Capital A financial asset, such as cash
Balance Sheet Also referred to as statement of financial position or condition, reports on a company's assets, liabilities, and Ownership equity at a given point in time
Income Statement Also referred to as Profit and Loss statement, reports on a company's income, expenses, and profits over a period of time.
Cash flow Statement Reports on a company's cash flow activities, particularly its operating, investing and financing activities.Cash is the life blood of a company
Retained earnings Explains the changes in a company's earnings over the reporting period
Budget A list of all planned future revenues and expenses
Levels of Hierarchy Refers to the number of layers in a business
Bureaucracy Overly complex and unnecessary official procedures that slow any administration
Created by: Mr Jones
 

 



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