What is an easily-quantified benefit?
A "tangible" benefit
Which organisation is owned by an individual?
Which organisation is owned by two or more people?
What must all Limited Companies register with?
The Registrar of Companies
From where does an organisation in the Private Sector receive its income?
The sale of products or services
What is meant by a Voluntary organisation's "constitution"?
Its reason for existing.
Name the three different legal structures for organisations within the Private sector
Sole traders, Partnerships, Limited Companies
Name the three types of Limited Companies.
Private (limited by shares), Private (limited by guarantee), Public
Name three benefits of a Tall Hierarchical Organisational Structure.
Examples: Close supervision provided for subordinates, good discipline, good superior-subordinate relationships, encourages development of staff, allows for easy coordination of subordinates
Name three disadvantages of a Tall Hierarchical Organisational Structure.
Examples: Costly due to high number of managerial salaries, communication can be delayed or distorted, lack of creative freedom for subordinates,
Name three advantages of a Flat Hierarchical Organisational Structure.
Examples: Less costly due to fewer managers, problems solved via collaboration, higher subordinate morale due to creative freedom, self-direction, and autonomy, communication is faster and more effective than tall hierarchies, fast decision-making.
Name three disadvantages of a Flat Hierarchical Organisational Structure.
Examples: Chance of poor discipline due to lack of supervision, poor superior-subordinate relationships, coordination of subordinates is more difficult, experienced and efficient managers are required for high number of subordinates,
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
What does PESTLE stand for?
Political, Economical, Sociological, Technological, Legal, and Environmental
What does SMART stand for?
Specific, measurable, achievable, realistic, time-bound
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