The number of direct subordinates/reports a manager has

Moving authority from the top of the hierarchy toward the bottom

Workers report to more than one manager

3 types of people are employed: core, freelance and casual

Permanently employed staff who are critical to a business’s operations and paid a salary

Casual and part-time workers who enable the business to meet changing demands; they are paid wages

Freelance contractors

Specialist individuals and companies who take work for the company and are paid fees (Eg. Consultants)

Employing an outside company to complete certain functions of the business

Based on the functions of the business

Based on product, market or customer divisions

Factors of production

Inputs of the production process

Resources used in the production process

The final products of the production process

People’s time, knowledge and effort

Management or leadership expertise

Transformation process

What occurs to make inputs into outputs

Batches of product move from one station to the next with changes in batches allowing some flexibility

Continuous production with product continuously leaving the product line ready to be dispatched

The final product is produced from start to finish by the same person/team (can be customised)

Tangible items that are produced

Intangible products that are ‘delivered’ rather than produced

A combination of production operations

A measure of how efficient a business’s production/manufacturing operations are measure by output/input

Performing in a way that maximises results for minimum costs

As a result of increased efficiency, the product becomes more competitive in the marketplace

A method of maximising number units produced and minimising inputs

7 areas of waste (Transport, inventory, motion, waiting, over-processing, over-production, defects)

How efficiently the production plant is utilised

There is excess capacity when machines or workers are idle. This increases the cost of production.

There is higher demand than production capacity allows. Machines/workers operate 24/7 to meet demand. This leads to breakages, excessive wear and tear, stress and high worker turnover.

The greater the quantity of a good produced, the lower the per-unit fixed cost. Increasing production leads to gains in productivity

Expenses that are not dependent on the level of production by the business. (Eg rent, insurance)

Costs that increase proportionally to the increase in production (Eg. Raw materials)

Organisational culture

The way things are done in the organisation

Company-wide goals set by senior managers and owners

Planning, organising, leading and controlling

Involves setting goals and outlining how the goals will be achieved and whose responsibility it is

Ensuring there are enough resources to attain the business objectives

Motivating staff to achieve their assigned tasks

90843 - Terms & Definitions Flashcards

Student preview

91 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Organisational structure

Back

Describes how people work together in business (who reports to whom)

2.

FLASHCARD QUESTION

Front

Organisational chart

Back

A diagram showing the organisational structure of a business

3.

FLASHCARD QUESTION

Front

Line of reporting

Back

A line showing who are subordinates and who are managers

4.

FLASHCARD QUESTION

Front

Manager

Back

A person who has responsibility for others in an organisation

5.

FLASHCARD QUESTION

Front

Subordinate

Back

A person who reports to a manager

6.

FLASHCARD QUESTION

Front

Levels of hierarchy

Back

The number of management levels in an organisation

7.

FLASHCARD QUESTION

Front

Bureaucracy

Back

Excessive paperwork that holds up operations; caused by too many levels of hierarchy

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