VCE Business Management Question Thread!

[Nato]

How do LSO make a contribution impact on the economy?

Think about it this way: LSO's have many employees (greater than 200) and produce/sell a wide range of services and goods.
Because of this they actually make a great impact on the economy. By selling products/services they are generating income, which they will later be taxed on (this helps the economy). Also the fact that they sell services/goods (wide range) encourages spending from the public. SPENDING, clearly has an impact on the economy as it increases demand, meaning that goods/services will still be sold and employees will still be making/performing them, thus keeping them employed.
Furthermore, by having so many employees, they are providing members of the public with employment. Now this decreases the number of people WITHOUT jobs. Before, people without jobs may have gone on welfare, increasing the unemployment rate. This also affects the economy, albeit in a bad way. But, by providing employment, employees are earning an income - and what do people that earn money do? SPEND! so then again, there is an impact on the economy. Also the fact that employees will now get taxed has an impact too.
I doubt I have covered all the Busman 3/4 'impacts', but I hope you can gain some ideas from above

[Only Cheating Yourself]

Think about it this way: LSO's have many employees (greater than 200) and produce/sell a wide range of services and goods.
Because of this they actually make a great impact on the economy. By selling products/services they are generating income, which they will later be taxed on (this helps the economy). Also the fact that they sell services/goods (wide range) encourages spending from the public. SPENDING, clearly has an impact on the economy as it increases demand, meaning that goods/services will still be sold and employees will still be making/performing them, thus keeping them employed.
Furthermore, by having so many employees, they are providing members of the public with employment. Now this decreases the number of people WITHOUT jobs. Before, people without jobs may have gone on welfare, increasing the unemployment rate. This also affects the economy, albeit in a bad way. But, by providing employment, employees are earning an income - and what do people that earn money do? SPEND! so then again, there is an impact on the economy. Also the fact that employees will now get taxed has an impact too.
I doubt I have covered all the Busman 3/4 'impacts', but I hope you can gain some ideas from above

Thanks, i struggle with relating to the economy largely because i don't know what the economy is.  How far in the textbook have you covered?

[Only Cheating Yourself]

Hey, i'm confused with what the government department is and private and public sectors?  Is that the same thing as private and public corporations?  Could someone clarify this please?

Thanks

[Only Cheating Yourself]

What does ethical and social management/responsibilties mean?  I know the definition but I'm struggling to really understand it.  So ethical management is what society deems as right, for e.g an organisation may downsize so that it can reduce costs but this is seemed as right there it is an ethical management?  And what is social responsibilities?

[ShortBlackChick]

Hey, i'm confused with what the government department is and private and public sectors?  Is that the same thing as private and public corporations?  Could someone clarify this please?

Thanks

Hey there, have you tried googling these questions? Just read a bit of general stuff, even if its a wiki page, obviously dont copy off them, but just to get a general idea.

You may find people downvote you because the questions you ask could easily be answered without the billion posts here

[Only Cheating Yourself]

Hey there, have you tried googling these questions? Just read a bit of general stuff, even if its a wiki page, obviously dont copy off them, but just to get a general idea.

You may find people downvote you because the questions you ask could easily be answered without the billion posts here

I have but often there different to what i need, and isn't this the business thread?  for e.g internal environment the book is very vague and i can find it on the web, so what should i do?

[ShortBlackChick]

What specifically do you want to know? You need to be more clear so people can answer you properly, instead of asking general questions that can be googled, PLEAAAAAASE

[Only Cheating Yourself]

What specifically do you want to know? You need to be more clear so people can answer you properly, instead of asking general questions that can be googled, PLEAAAAAASE

I'm struggling to find examples of internal environment factors, i know its those all those things over which the organisation has some degree of control, but what are some examples?

[ShortBlackChick]

You asked this in My 2014 question thread. and were given an answer. I think you may have thought a 'factor' is not the same as an 'example' or something idk

[Only Cheating Yourself]

Hi, does anyone have any advice one A0S1?

[Billion]

What should we be including in our glossary for Business Management?
Last year, the subject I studied had all the definitions we needed to know in the study design, however the study design doesn't have them for business management.
I don't want to remember terms that are completely irrelevant.

Thanks. 

[Only Cheating Yourself]

Would i get full marks for this definition:  Multinational corporation:  Is an organisation that has its headquarters owned and based in one country and sells products or services in a few countries.

?

[Emie]

What should we be including in our glossary for Business Management?
Last year, the subject I studied had all the definitions we needed to know in the study design, however the study design doesn't have them for business management.
I don't want to remember terms that are completely irrelevant.

Thanks. 

If there is a word mentioned in the study design, you should know a definition for it. You don't need to know all the glossary terms in the textbook. Basically, if you've spent more than ten minutes in class looking at a concept, you probably need to know a definition for the relevant term(s).

[Emie]

Would i get full marks for this definition:  Multinational corporation:  Is an organisation that has its headquarters owned and based in one country and sells products or services in a few countries.

?

That definition is okay, but you'd be better to state "many countries throughout the world" rather than "a few countries"

[Only Cheating Yourself]

Need some help please.  Why do corporations get privatised?  What are the benefits?


Also aren't business/company/organisation/corporation the same thing?
Cheers.