RCE 1 flashcards

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Organisation Types: Private

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Businesses owned by individuals or groups, focused on profit generation (e.g., retail stores, tech companies).

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Organisation Types: Non-profit

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Organisations focused on social, educational, or charitable goals rather than profit (e.g., charities, NGOs).

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SMART Objectives

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Objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound.

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PESTLE Analysis: Social

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Analyses societal trends, demographics, and cultural attitudes impacting business.

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Business Aims and Objectives

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Involves setting long-term goals and specific actions to achieve them, using SMART criteria.

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Matrix Structure

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A flexible structure where employees work across teams and functions, often on specific projects.

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Finance Function

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Manages financial resources, budgeting, and ensuring profitability.

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Benefits of Digital Transformation

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Improved efficiency, enhanced customer satisfaction, and increased competitiveness.

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Key Digital Skills

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Data analysis, digital marketing, cybersecurity, and coding.

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Importance of Digital Skills

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Essential for adapting to technological changes and remaining competitive in the digital economy.