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LSO’s and the Australian Economy

LSO’s and the Australian Economy. Page 19. Contributions of LSO’s. Despite there being more small – medium sized organisations in Australia, LSO’s still significantly contribute to the Australian economy. GDP Employment Balance of Payments Research & Innovation Infrastructure Growth.

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LSO’s and the Australian Economy

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  1. LSO’s and the Australian Economy Page 19

  2. Contributions of LSO’s • Despite there being more small – medium sized organisations in Australia, LSO’s still significantly contribute to the Australian economy. • GDP • Employment • Balance of Payments • Research & Innovation • Infrastructure Growth

  3. Gross Domestic Product (GDP) • The total monetary value of output produced in a country in one year.

  4. Employment • LSO’s employ a large percentage of our total workforce.

  5. Glossary • Downsizing – A reduction in a company’s work force through the elimination of jobs. • Productivity – A measure of the functioning and efficiency of a production system. • Outsourcing – The process of using another business to undertake some task or work process.

  6. Balance of Payments • An annual record of Australian trade and financial transactions (export/import) with the rest of the world. • LSO’s assist in earning export income.

  7. Research and Innovation • A large amount of money (capital expenditure) is used to carry out research and development (R & D) • LSO’s are often encouraged to undertake this, however due to its expense and high risk, the government has to provide financial incentives in forms of grants or taxation rebates. • Eg. Apprenticeships Australia

  8. Infrastructure Growth • Infrastructure – Physical resources of an area which benefit the entire community. • Most Australian infrastructure is provided by GBE’s or recently privatised GBE’s.

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