Business Management Vce

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BUSINESS MANAGEMENT
UNITS 3 & 4

AREA OF STUDY 1
Large-scale organisations in context
* The context which contributes to the unique nature of LSO’S * Characteristics of large-scale organisations
* Variations in types of large-scale organisations, their objectives and related business strategies * Typical management functions in LSO’s; including operations, finance, human resources, marketing, and research and development. * Contributions, both positive and negative, of LSO’s to the economy * Internal and external (operating and macro) environment of LSO’s * Performance indicators used to evaluate the performance of LSO’s- including the percentage of market share, net profit figures, the nature of productivity growth, the number of sales, results of a staff and/or customer satisfaction survey; the level of staff turnover, level of wastage, number of customer complaints and number of workplace accidents; * Identification and characteristics of stakeholders of LSO’s, including the interests, possible conflicts and related ethical and socially responsible considerations

DP 1: Context, which contributes to the unique nature of LSO’s * LSO’s because of their size have a great deal of political power E.g. 1. Mining industry in AUS creates large number of jobs. Threatened to go offshore due to mining tax. 2. Big banks outsourcing offshore * Some Organisations have more economic influence than the government in power * Sales and Revenues of some multinationals e.g. Wal-Mart and General Electric= bigger tan the economies of several countries * LSO’s can produce G&S in bulk at a low cost, as they have financial means to pay for advanced technology and staff. Produce en masse E.g. Price fixing, LSO’s have market power such as Coles and Safeway who have come under investigation for the $2 per 2 litres scandal, cutting farm gate prices * Owners of LSO’s have little to do with day-to-day decisions instead appointing managers * Undergo long-term planning to achieve objectives

* LSO’s generally operate in several countries
E.g. ANZ operates in Australia, New Zealand, Pacific island region, Europe and North America (operating in a variety of markets probability is +) * LSO’s must attempt to satisfy interests of their stakeholders * LSO’s management structure consists of Board of directors, managing director and/or CEO. Then has five departments 1. Human resources

2. Marketing
3. Research and development
4. Finance
5. Operations

DP 2: Characteristics of LSO’s
* Organisation is created when two or more people work together to achieve an objective * ABS defines an LSO as one that employs 200+ people
* Assets worth more than $200 million- E.g. ANZ is an LSO, employs 400,000 people, assets of $470billion and revenue of $13 billion * LSO’s are usually multinational corporations- owned and based in one country but operates in countries throughout the world.

DP 3: Variations in types of LSO’s, their objectives and related business strategies -Variations in LSO’s
CORPORATIONS
* Owned by shareholders and managed by directors
* Shareholder-a person who owns one or more shares in a company * Public companies have shares usually traded at the Australian Securities Exchange (ASX) E.g. Public companies- Telstra, Virgin Blue, BHP Billiton * Private corporations aren’t listed on the ASX, restrictions on who can buy shares * Private corporations can have one shareholder (who is director) no more than 50, often family companies E.g. Retravision, Ripcurl and 7 Eleven * GOVERNMENT BUSINESS ENTERPRISE (GBE) owned and operated by the government * Carry out government policies while delivering community service * Some of largest employers in Australia are GBE’s E.g. Australia Post, Medibank Private and VicRoads (VicRoads is also a statutory corporation- an act of parliament had to be passed to establish it) GOVERNMENT DEPARTMENTS...
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