Organisations
Land, labour and capital
What are the three princilple factors of production?
He or she owns the shares of the company.
What is a shareholder?
The main offices of a company
What are headquarters?
It owns more than half the shares of another company.
What is a parent company?
Employees are not involved in the decision-making process.
What is one of the drawbacks of a vertical structure?
The primary sector, the secondary sector and the tertiary sector.
What sectors of industry are there?
He or she is a member of a group that has an interest in the company's business.
What is a stakeholder?
A chart drawn in order to visualize the roles and responsibilities of members of staff and their relationships.
What is an organigramme?
Sole traders, partnerships and limited companies.
What are the main types of private sector businesses?
Employees know exactly what they are supposed to do and senior executives make all the decisions which is more efficient.
What is one of the advantages of a vertical structures?
Survival
What is the most important objective for a company?
A business owned by one person.
What is a sole trader?
Top-down management is used.
What is a hierarchical or pyramidal company?
It produces goods or services or owns another company in at least one other country.
What is a multinational?
Employees are more productive because they are more autonomous.
What is one of the advantages of a horizontal structure?
They are operated and owned by private individuals and companies.
What are private sector companies?
The person in charge of recruitment and training policies.
What is a Human Resources Director?
A horizontal structure.
What is a company where there are few levels of hierarchy?
They are independent of the government and exist because they want to achieve social goals.
What is the main aim of enterprises in the third sector?
People management skills and project management skills.
What is necessary to manage a team effectively?
They are owned and run on behalf of the public, either by the Government itself, or by organisations, funded by and report to Government.
What are public sector companies?
The person in charge of overseeing everything that happens in a company.
What is a CEO or MD?
Those who make decisions concerning the strategy in a company.
What is the Board of Directors?
It ensures economic growth, innovation, employs local people
How does the small business sector contribute to the country’s economy?
It clarifies the functions, responsibilities and the roles of management and employees.
What is a management structure?