2. People In Business Flashcards
Motivation
the reason why employees want to work hard and work effectively for the business
Wage
a payment for work, usually paid weekly
Time rate
the amount paid to an employee for one hour of work
Piece rate
an amount paid for each unit of output
Salary
payment for work, usually paid monthly
Bonus
an additional amount of payment above basic pay as a reward for good work
Commission
payment relating to the number of sales made
Profit sharing
a system whereby a proportion of the company’s profits are paid out to employees
Job satisfaction
the enjoyment derived from feeling that you have done a good job
Job rotation
workers swapping around and doing each specific task for only a limited time and then changing around again
Job enrichment
looking at jobs and adding tasks that require more and/or responsibility
Team-working
using groups of workers and allocating specific tasks and responsibilities to them
Training
the process of improving a worker’s skills
Promotion
the advancement of an employee in an organisation, for example, to a higher job/managerial level
Organisational structure
levels of management and division of responsibilities within an organisation
Organisational chart
a diagram that outlines the internal management structure
Hierarchy
the levels of management in any organisation, from the highest to the lowest
Level of hierarchy
managers/supervisors/other employees who are given a similar level of responsibility in an organisation
Chain of command
the structure in an organisation which allows instructions to be passed down from senior management to lower levels of management
Span of control
the number of subordinates working directly under a manger