Business Management SAC- Outcome 1
Content
Business Management SAC: Outcome 1
By Lauren Stewart
1. Define the following terms and provide an example for each: Stakeholder- Stakeholders are individuals and groups with a vested interest in the success or failure of a business -E.g. Suppliers are stakeholders as they depend on the business to pay them for the goods they deliver. Shareholders- Shareholders have money invested into the business and essentially own a fraction of that company. -E.g. A person may have bought a share in a business like “Woolworths” which has a massive market share because it is classified as a public LSO. Globalisation- The ability to expand overseas and to develop a bigger access network worldwide. -E.g. Before technology, trade was purely internal to a country; but as countries were able to open communication lines and trade lines to other countries, this is an example of Globalisation as they have expanded to trade on a global level. Effectiveness- The quality of how something is brought about and the level of success which a task or goal was accomplished. -E.g. The Success level brought about by a business strategy. They could say that the plan put into place was effective. Multinational corporation- A corporation which has offices or branches in multiple countries. -E.g. Allianz Insurance has branches all around the world.
2. Two factors from the External Environment which impact on the operations of LSO’s: -Customers- Customers control the profitability of an organization. -Competitiors- Other companies that sell similar goods or services could effect the amount of customers that go to a business. 3. Two contributions that LSO’s make to the Australian Economy: Employment: LSO’s provide Australians with jobs therefore they are contributing to the decrease in unemployment rates. GDP: LSO’s are responsible for over 50% of Australia’s gross domestic product.
4. What type of organisation is Qantas? Qantas is classifies as a LSO and is a public corporation due to its availability on the Australian stock exchange. 5. Why is Qantas classified as a large-scale organization (LSO)?? Qantas falls under the category of LSO as it has: - A large market share - Revenue in the millions, $1408 million is 2008. - Assets above $200 million - Over 200 employs, employment of over 37 000 people. 6. What are two KPI’s (Key Performance Indicators) that could be used to measure the success of Qantas?? -Customer and Staff satisfaction- Surveys are often used to get feedback of the effectiveness of a corporation, and to get information on any faults that need improving -Profitability- For a corporation as big as Qantas, Profitability is a major indicator that tells them whether they are meeting their business goals and aspirations.
By Lauren Stewart
1. Define the following terms and provide an example for each: Stakeholder- Stakeholders are individuals and groups with a vested interest in the success or failure of a business -E.g. Suppliers are stakeholders as they depend on the business to pay them for the goods they deliver. Shareholders- Shareholders have money invested into the business and essentially own a fraction of that company. -E.g. A person may have bought a share in a business like “Woolworths” which has a massive market share because it is classified as a public LSO. Globalisation- The ability to expand overseas and to develop a bigger access network worldwide. -E.g. Before technology, trade was purely internal to a country; but as countries were able to open communication lines and trade lines to other countries, this is an example of Globalisation as they have expanded to trade on a global level. Effectiveness- The quality of how something is brought about and the level of success which a task or goal was accomplished. -E.g. The Success level brought about by a business strategy. They could say that the plan put into place was effective. Multinational corporation- A corporation which has offices or branches in multiple countries. -E.g. Allianz Insurance has branches all around the world.
2. Two factors from the External Environment which impact on the operations of LSO’s: -Customers- Customers control the profitability of an organization. -Competitiors- Other companies that sell similar goods or services could effect the amount of customers that go to a business. 3. Two contributions that LSO’s make to the Australian Economy: Employment: LSO’s provide Australians with jobs therefore they are contributing to the decrease in unemployment rates. GDP: LSO’s are responsible for over 50% of Australia’s gross domestic product.
4. What type of organisation is Qantas? Qantas is classifies as a LSO and is a public corporation due to its availability on the Australian stock exchange. 5. Why is Qantas classified as a large-scale organization (LSO)?? Qantas falls under the category of LSO as it has: - A large market share - Revenue in the millions, $1408 million is 2008. - Assets above $200 million - Over 200 employs, employment of over 37 000 people. 6. What are two KPI’s (Key Performance Indicators) that could be used to measure the success of Qantas?? -Customer and Staff satisfaction- Surveys are often used to get feedback of the effectiveness of a corporation, and to get information on any faults that need improving -Profitability- For a corporation as big as Qantas, Profitability is a major indicator that tells them whether they are meeting their business goals and aspirations.
