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Fran is the newly appointed manager of an Australian software business - VCE - SSCE Business Management - Question 1 - 2021 - Paper 1
Question 1
Fran is the newly appointed manager of an Australian software business. The business is a public listed company working towards the achievement of its business objec... show full transcript
Worked Solution & Example Answer:Fran is the newly appointed manager of an Australian software business - VCE - SSCE Business Management - Question 1 - 2021 - Paper 1
Step 1
With reference to this business, define the term 'stakeholder'.
Answer
A stakeholder is defined as a group, individual, or organization that has a vested interest in the activities of a business. In the context of Fran's software business, an appropriate stakeholder would be shareholders, as they are directly affected by the performance and profitability of the Australian Software Business (ASB), being a publicly listed company.
Step 2
Define what is meant by the 'rate of staff absenteeism'.
Answer
The rate of staff absenteeism refers to the measure of the proportion of employees who are not present for work during a specific period. It is typically expressed as a percentage and calculated by measuring the total number of employee absences divided by the total number of scheduled workdays, multiplied by 100. This metric is important for assessing employee engagement and productivity levels within a business.