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Business > 2 people in business > Flashcards

2 people in business Flashcards

1
Q

Ch16. 128. Overdue

A

Money that has not been payed by the time expected

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2
Q
  1. Communication channels
A

Routes along which information might travel in a business

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3
Q
  1. Downward communication
A

Passing messages from the top of the organisation to those at the bottom

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4
Q
  1. Upward communication
A

Passing messages from the bottom of an organisation to those at the top

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5
Q
  1. Horizontal communication
A

Exchange of information between parties on the same level in an organisation’s hierarchy

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6
Q
  1. Internal communication
A

Communication between people inside the business

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7
Q
  1. External communication
A

Communication between the business and those outside such as customers, investors or the authorities

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8
Q
  1. Formal communication
A

Use of recognised channels when communicating

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9
Q
  1. Informal communication
A

Use of non-approved channels when communicating

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10
Q
    1. Redemployment
A

Moving someone or something to a different place or job

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11
Q
    1. Internal recruitment
A

Appointing workers from inside the business

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12
Q
  1. External recruitment
A

Appointing workers from outside the business

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13
Q
    1. Unfair dismissal (repeated)
A

When a worker is dismissed illegally by a business

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14
Q
  1. Ombudsman
A

Someone who deals with complaints made by ordinary people against government, banks, insurance companies and so on

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15
Q
  1. Minimum wage
A

Minimum amount per hour, which most workers are entitled to be paid

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16
Q
  1. Apprenticeship
A

System of training new entrants to a trade or profession, often, but not always, younger workers, mostly on-the-job training but often with some college attendance

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17
Q
  1. Arrears
A

Money that you owe someone, or is owed to you, because you have not made, or have received, regular payments ate the correct intervals or amounts

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18
Q
  1. FTSE 100
A

Index that measures the share prices of the top 100 companies in the UK

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19
Q
    1. Training
A

Process that involves increasing the knowledge and skills of a worker to enable them to do their job more effectively

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20
Q
  1. Induction training
A

Training given to new employees when they first start a job

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21
Q
  1. On-the-job training
A

Training that takes place while doing the job

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22
Q
  1. Mentoring
A

Where people with a lot of experience and knowledge advise and help other people at work or young people preparing for work

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23
Q
  1. Supervision
A

When you supervise someone or something

24
Q
  1. Job rotation
A

Where employees alternate between different jobs during the course of their employment

25
Q
  1. Off-the-job training
A

Training that takes place away from the work area

26
Q
    1. Job satisfaction
A

Pleasure, enjoyment or sense of achievement that employees get from their work

27
Q
  1. Hygiene factors(Herzberg’s)
A

Things at work that result in dissatisfaction

28
Q
  1. Motivators (Herzberg’s)
A

Things at work that result in satisfaction

29
Q
  1. Job enrichment
A

Making a job more challenging and interesting

30
Q
  1. Maslow’s hierarchy of needs
A

Order of people’s needs starting with basic human needs

31
Q
    1. Remuneration
A

Money paid to employees for their work or services

32
Q
  1. Time rate
A

Paymen system based on the amount of time employees spend at work

33
Q
  1. Gross pay
A

Pay before deductions, such as tax

34
Q
  1. Net pay
A

Take home pay, this is, pay after deductions, such as income tax pension contributions or student loan repayments

35
Q
  1. Overtime
A

Rate of pay above the normal rate to compensate employees for working extra hours

36
Q
  1. Salary
A

Pay, usually to non-manual workers, expressed as a yearly figure but paid monthly

37
Q
  1. Piece rate
A

Payment system where workers receive an amount of money for each unit produced

38
Q
  1. Performance-related pay
A

Payment system designed for non-manual workers where pay increase are given if performance targets are met

39
Q
  1. Bonus systems
A

Payment in addition to the basic wage for reaching targets or in recognition for service

40
Q
  1. Commission
A

Payment based on the value of sales, usually a percentage of sales made

41
Q
  1. Fringe benefits
A

‘Perks’ over and above the normal wage salary

42
Q
  1. Design brief
A

Set of instructions about what a new product should look like or what features it should have

43
Q
    1. Formal organisation
A

Internal structure of a business as shown by an organisation chart

44
Q
  1. Organisational chart
A

Diagram that shows the different job roles in a business and how they relate to each other

45
Q
  1. Payroll officer
A

Someone who is responsible for the administration of worker’s pay in an organisation

46
Q
  1. Accounts clerk
A

Someone who keeps records or accounts in an office

47
Q
  1. Span of control
A

Number of people a person is directly responsible for in a business

48
Q
  1. Centralised
A

Type of organisation system where most decisions are made at the top of the organisation and then passed down the chain of command

49
Q
  1. Decentraised
A

Type of organisation system where decision making is pushed down the chain of command and away from the top

50
Q
    1. Trade unions
A

Organisations,usually in a particular trade or profession, that represent workers, especially in meetings with employers

51
Q
  1. Contracts o employment
A

Written agreements between an employer and an employee in which each has certain obligations

52
Q
  1. Unfair dismissal (repeated)
A

when worker is dismissed illegally by a business

53
Q
  1. Employment tribunal
A

Court that deals with cases involving disputes between employers and employees

54
Q
  1. Market orientated
A

Where a business focuses on the needs of consumers when developing products

55
Q
  1. Wholesalers
A

Persons or businesses that buy goods from manufacturers and sell them in smaller quantities to retailers

56
Q
  1. Pharmaceutical
A

Relating to the production of drugs and medicines

57
Q
  1. Automotive
A

Relating to cars

Business (7 decks)

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