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1 - Chapter
| Question | Answer |
|---|---|
| What is the definition of an organisation? | Organisations are social arrangements for the controlled performance of collective goals |
| What are the 3 aspects of an organisation? | Social arrangement controlled performance collective goals |
| Why do we need organisations | To share knowledge and experience to specialise to pool resources |
| What does 'synergy' mean? | Organisations can achieve more than individuals could on their own. |
| List the different types of organisation. | Sole trader Partnership Limited liability company |
| What are the 2 types of limited company? | Public limited company Private limited company |
| What is a 'not for profit'organisation? | Nfps do not see profit as their primary objective, instead they seek to satisfy the needs for which they have been set up |
| What is the difference between public sector and private sector? | Public sector can offer shares to the public as a means to raiding capital whereas private sector organisations can't. |
| What are the 2 types of non governmental organisations? | Operational Campaigning |
| What is a cooperative? | A cooperative is owned and democratically controlled by its members, sharing profits. |
| Define 'Mission' | Mission is an organisations expression of its reason for being. |
| What are the 4 elements of mission? | Purpose Strategy Policy and Culture Values |
| Define 'Vision' | Vision is how an organisation sees themselves in the future. |
| What is the difference between 'Mission' and 'Vision'? | Mission is present based whereas vision is future based. |
| What is an objective? | SMART specific measurable achievable relevant time constrained |
| What is a stakeholder? | Anyone who has anything to do with an organisation. |
| How can value for stakeholders be created? | Control and coordination of resources efficient production of goods and services facilitating innovation |
| What is a control? | Activities undertaken that will increase the chance of an organisation reaching its objectives. |
| List some typical controls. | Supervision of staff planning processes targets |
| What is coordination? | The bringing together of all the activities of an organisation. |
| What are the benefits of efficient production of goods and services? | Minimised wastage of resources. |
| What is innovation aimed to achieve? | Reduce costs provide a basis for differentiation |
Created by:
Geminimeg
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