Organisational Management and Business Operations Flashcards

__________ refers to any alteration in the business and the work environment.

Organisational change

A system designed to gather data, organise and summarise them, and convert them into practical information is a business __________ system.

information

__________ measures the degree to which a goal has been achieved.

Effectiveness

__________ compares the resources needed to achieve a goal against what was actually achieved.

Efficiency

A manager who possesses __________-thinking skills can see the business as a whole and take upon a broad, long-term view.

Strategic

Managers who successfully anticipate and adjust to changing circumstances are described as __________ rather than reactive.

proactive

The triple-bottom line evaluates economic, social, and environmental performance, also known as the three P's: People, Planet & __________.

Profit

An individual who assumes entrepreneurial roles within an existing business is called an __________.

intrapreneur

The 4 P's of the marketing mix are Product, Promotion, Price, and __________.

Place

__________-based pricing refers to setting prices based on the interaction between supply and demand.

Market

Inputs that are directly changed during the operations process are known as __________ resources.

transformed

Quality standard __________ indicates quality practices specifically in product design and development.

ISO 9001

Quality standard __________ indicates quality practices specifically in manufacturing.

ISO 9002

Quality standard __________ indicates quality practices specifically in service-based industries.

ISO 9003

A __________ agreement is an employment agreement relating to a genuine new enterprise before employers have hired any employees.

Greenfields

An instant form of employee dismissal following a significant breach of contract is referred to as __________ dismissal.

summary

Employee termination resulting from a lack of sufficient work in a role, typically caused by an economic downturn, is known as __________.

retrenchment

The main measure of economic growth representing the total value of all goods and services produced in Australia over a one-year period is Gross __________ Product.

Domestic

Short-term loans issued by financial institutions for large amounts over $100,000$ for a period generally between $30$ to $180$ days are called commercial __________.

bills

The selling of accounts receivable at a discounted price to a finance company is called __________.

factoring

Superannuation is a compulsory financial contribution of $$1200000000000000000000000000000000000000000