Bm Prac Sac

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Unit 3 Outcome 1 Business Management Prac Sac SOLUTION
Time allowed: 40 marks
Answer all questions and write your responses in the space provided. 1. Define the following terms:
a. Government Business Enterprise
A business that is Government owned and operated. GBE’s aim to run profitably by controlling costs and selling goods and services at a price to cover costs. Australia post is an example of a GBE, while it provides a service to meet the demands of consumers, it aims to run profitably. b. Productivity

Productivity is a measure of efficiency -it is the level of output obtained from a set level of input. The productivity of car manufacturer is measured by examining the input requirements, including components, time, human skill and effort etc for each unit of output produced (in this case a motor vehicle)

2+2 marks
2. Telstra is considered a large-scale organisation. Identify and explain two characteristics that could be used to define an organisation as large. In order for an organisation to be classified as large it should meet the accepted criteria which includes; the number of employees, revenue in the millions, total assets over $200 million etc. Telstra is considered a LSO as it employs more than 200 people and earns revenue in the millions. (Other characteristics include; extent of operations, profit after tax) 2 marks

3. Identify and explain two typical management functions found in a large scale organisation. Management functions are the specialised areas or departments of an organisation, and include Human Resources, Research and Development, Finance, Marketing and Sales and Operations. The Human Resources Function specialises in appropriately managing employees, through effective recruitment practices, the maintenance of employment relations etc. The Research and Development function ensures that products are updated and meet current needs and wants. 2 marks

4. Explain with an example why there may be possible...
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