2.4 Making Financial decisions

Question 1

Centralised organisation:

Answer 1

an organisation in which most decisions are made at head office.

Question 2

Decentralised organisation:

Answer 2

an organisation that allows staff to make decisions at a local level.

Question 3

Flat structure:

Answer 3

an organisation with few layersof hierarchy – presumably because each manager is responsible for many staff.

Question 4

Hierarchical structure:

Answer 4

an organisation with
many layers of management, therefore creating
a tall organisational pyramid.

Question 5

Organisation chart:

Answer 5

a diagram that shows the internal structure of an organisation.

Question 6

Communication:

Answer 6

the passing of information from one person or organisation to another.

Question 7

Barrier to communication:

Answer 7

something that prevents the flow of communication.

Question 8

Insufficient communication:

Answer 8

too little communication, which might leave some staff under-informed and demotivated.

Question 9

Excessive communication:

Answer 9

too much communication causing overload for staff – a particular problem with email.

Question 10

Flexible hours:

Answer 10

a contract between a company and an employee that doesn’t specify how many vvxnhours of work will be provided.

Question 11

Freelance contract:

Answer 11

an agreement over one job between a company and self-employed worker.

Question 12

Permanent contract:

Answer 12

an agreement between a company and an employee that work and income will be provided constantly into the long-term future.

Question 13

Remote working:

Answer 13

working away from the office, typically from home.

Question 14

Temporary contract:

Answer 14

an agreement between a company and an employee that work and income will be provided for a specifi c time period, say six months.