Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business studies > buisness studies > Flashcards

buisness studies Flashcards

1
Q

motivation - promotion

A

moving up in the organisation and getting a higher paid job with more responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

motivation - fear

A

when you are scared of your boss and do as they say

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

motivation - job enrichment

A

given responsibility to do different things

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

motivation - award schemes

A

getting awards such as employee of the month

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

motivation - environment

A

working in a place that is nice such as a clean office with good views and is warm

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

monetary - salary

A

a yearly amount of money that is paid monthly, does not matter how many hours you work

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

monetary - time rate

A

get paid for the hours that you are at work

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

monetary - piece rate

A

payment given per item that you produce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

monetary - overtime

A

extra money that is paid for time you work above normal hours, usually at least time and a half

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

monetary - bonus

A

a sum or money that is awarded for good work, often given at Christmas

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

monetary - commission

A

a percentage return on things you have sold e.g. an estate agent would get 1% of the sale of a house

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

monetary - fringe benefits

A

given things such as a company car, gym membership, laptop on top of your usual wages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

monetary - profit sharing

A

a percentage of the profit is shared amongst the workers at the end of the year

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

technical training

A

new machinery or equipment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

managerial training

A

learn skills needed to move up and get a promotion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

new products training

A

used mainly to educate sales people

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

retraining

A

given to people when the way things are done changes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

personal training

A

learn something to help you develop

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

induction training

A

basic training for new workers, includes health and safety

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

flexibility training

A

to be able to do more than one job

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

personal development

A

used as a motivator such as learning a new language

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

communication

A

the method of passing information around the workplace. new technology has made this easier to be done e.g. mobile phone and the internet. this can be both formal and non-formal and internal (within the organisation) and external (dealing with people from outside)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

tall / flat organisations

A

tall organisations have lots of layers and it can be hard to pass information down the hierarchy. flat organisations have very few layers and so management deal with direct with the workers leading to better communication

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

delegate

A

this is to give a job to someone else to do. if you delegate something you are giving someone the role but the person that gave the instruction is ultimately responsible for the job being done.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

subordinates

A

these are the people who work directly below you. as a manager you would be responsible for the subordinates directly below you. e.g. a finance director having 3 finance assistance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

non monetary motivation

A

lots of different methods used to motivate staff other than through money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

types of training

A

lots of different types of training available. used for different reasons

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

on the job training

A

training that is done whilst you do the job. costs les and means that the job is getting done however mistakes can be made and you take up the time of an existing employee who has to show what to do

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

application form

A

usually used in large organisations. gives an easy way to compare applicants as all will have answered the same questions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

recruitment

A 
the process of finding an employee to do a job. follows this general order - 
advertise
apply with CV or application form
shortlist
interview / individual or group
sometimes testing
possible probation period
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

job description

A

is given to someone when they apply for a job. it details all of the responsibilities of the job e.g. hours of work and pay

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

joint venture

A

2 businesses that do different things decide to work together as it would lead to more business for both e.g. a plumber and electrician

33
Q

takeover

A

a large organisation purchases more than 50% of a smaller organisation. can be agrees or can be a hostile takeover where the smaller organisation does not agree for this to happen

34
Q

monetary motivation

A

lots of different methods used to motivate people by pay

35
Q

motivation

A

used to describe why people do things.

1) monetary
2) non-monetary

36
Q

off the job training

A

training where you would go off site. usually very in-depth lectures and seminars with demonstrations which tend to take place in training centres or hotels. cost a lot of money and the business has to cover you at work whilst you are not there.

37
Q

interview

A

1) group where you are put through a set of tasks and observed as a group
2) personal where you would answer in detail a set of questions face to face

38
Q

authority

A

the person who is above you in the hierarchy has authority over you. they tend to be your line manager who would give you instruction of what to do

39
Q

functional area

A

different departments in which people work. include things such as finance, sales, marketing, human resources

40
Q

employment law

A

laws that have been put in place so people are not discriminated against:

equal pay act
race relations act
sex discrimination act
health an safety at work act
minimum wage legislation
employment rights act
disability discrimination act
41
Q

democratic leader

A

a leader who likes to get all workers involved in making decisions. this is said to motivate workers. all people are listened to.

42
Q

staff manager

A

this is someone who does not work directly within the hierarchy but is there on the side to support the workers such as an IT manager in charge of the computer system

43
Q

de - layering

A

this is where you would take out layers in the hierarchy. e.g. get rid of middle managers so that the people in charge are closer to the workers

44
Q

span of control

A

this is given as a number and is the amount of subordinates that you have in control so the finance director would have a span of control of 3

45
Q

chain of command

A

instructions that are sent from people at the top of the hierarchy down to people below them. the people below them must carry out the instruction

46
Q

multinational company

A

a business that both makes and sells their product in more than one country

47
Q

co - operative

A

groups of businesses that work together. usually means that they can do larger business activities than they could do working alone and gives them cost savings.

48
Q

horizontal integration

A

two businesses in the same level of the chain of production decide to merge together. e.g. 2 banks in the tertiary sector Lloyds and TSB

49
Q

internal growth

A

fairly simple growth that occurs within the business without having to get involved with any outside agencies. an example would be the purchase of a new larger factory

50
Q

interdependence

A

where each stage of the chain of production rely on each other. for example you could not have a bank if trees had not been fell to make paper and computers had not been made

51
Q

private sector

A

all businesses that are set up so that the private owners can make a profit. all privately owned in some way. sole proprietor, partnership, limited companies

52
Q

partnership

A 
2-20 owners.
need a deed of partnership 
greater funding 
more people for ideas 
disputes may occur and some
unlimited liability 
responsible for partners debts
53
Q

public limited company PLC

A

a much larger limited company. shares purchased on the stock exchange
anyone can become a shareholder.
worth lots of money
board of directors run the business
can be at risk of takeover
all shareholders have a say in how the business is ran, limited liability

54
Q

charity

A

a non profit making organisation that relies on donations from the public to be funded. (usually charities help people who are disadvantaged in some way) e.g. RSPCA

55
Q

social enterprise

A

a business that has been set up to help people in different social situations. examples are businesses set up to help coco growers in Ghana and give them a better way of life

56
Q

vertical integration

A

two businesses in different levels of the chain or production merge together. e.g. a baker (secondary) merging with a flour mill/grower (primary)

57
Q

external growth

A

this is where 2 or more businesses come together to give them the benefits of a larger business. both businesses usually agree that the coming together should happen and is mutually beneficial to both

58
Q

merger

A

2 businesses are in agreement and decide to join together and work as one larger organisation. both parties agree for this to happen

59
Q

aquisition

A

a business acquires just part of a different business. this is done in agreement e.g. Zavvi purchased Virgin megastores from the Virgin group but nothing else

60
Q

location

A

the place where the business is. can be determined by lots of things:
traditional, cost, infrastructure, labour, climate, physical geography, access to market, the type or product and availability of raw materials

61
Q

person specification

A

this is a list drawn up by the employers of all the things they want the person to have who applies for the job like a wish list. this is not usually shown to the candidate

62
Q

tertiary industry

A

this is where a service is provided to the customer. can include selling products in shops, insurance, banking, hair salon etc..

63
Q

public sector

A

any business that is run by the government and paid for by peoples taxes e.g. schools, hospitals, emergency services, local council

64
Q

sole proprietor

A

a business set up and funded by 1 person. easy to set up and run hard to take time off. unlimited liability

65
Q

private limited company LTD

A 
limited liability.
know all shareholders
usually 2-50 shareholders
harder to set up
more paperwork needed (articles and memorandum of association) 
takes a lot of time and money
66
Q

autocratic leader

A

a leader who tells people what to do and does not take into consideration their thoughts and opinions

67
Q

mission statement

A

this is a statement that sums up your business activity and what your business believes in. Used as a basis for creating aims and objectives

68
Q

chain of production

A

the different types of production that exist and includes primary, secondary and tertiary industry. At each stage in the chain value is added to the product

69
Q

basic needs

A

there are 5 of these that every person needs satisfying. The reason why businesses started in the first place: food, water, warmth, clothing and shelter

70
Q

objectives

A

the small steps that the business will need to take in order to achieve its aims

71
Q

hierarchy

A

this is the structure of the organisation, usually in a triangular shape with less people at the top (the people in charge) and more at the bottom (the workers)

72
Q

business aims

A

the main things that your business wants to achieve. They are set so that you have something to aim towards and measure your success against. Helps you stay focussed

73
Q

trade unions

A

organisations set up to protect the rights of workers. People pay to become members and are then represented in the case of any disputes. E.g. NUT National Union of Teachers

74
Q

laissez-faire leader

A

a leader who sits back and lets the business run by itself. Does not do much to drive it forward but does give the workers lots of power to make their own decisions

75
Q

motivation - team working

A

working as part of a group to complete something

76
Q

motivation - job rotation

A

moving between jobs and doing different things to stop you from getting bored

77
Q

stakeholders

A

these are the groups of people who take any kind of interest in the business. Main stakeholders are: Customers, employees, local community, owners, suppliers and managers

78
Q

secondary industry

A

putting together the raw materials into a finished product, examples are furniture manufacturers and bakers

79
Q

primary industry

A

this is about getting hold of raw materials, examples of this industry are farming, mining and forestry

Business studies (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions