Business Studies 2 Flashcards
Organisational structure?
Refers to the level of management and division of responsibility within a organisation
Organisational chart?
Refers to a diagram that outlines internal management
Hierarchy?
Refers to the levels of management in any organisation from the highest to the lowest. A level of hierarchy refers to managers/ supervisors/ other employees who are given a similar level of responsibility in a organisation
Chain of command?
Is the structure in an organisation which allows instructions to be passed down from senior manger to lower levels of management
Span of control?
Is the number of subordinates working directly under a manger
Directors
Are senior managers who lead particular department or division of a business
Line mangers
Have direct responsibility for people below them in the hierarchy of an organisation
Supervisors
Are junior managers who have direct control over the employees below them in a organisational structure
Staff managers
Are specialist who provide support information and assistance to line managers
Delegation
Means giving a subordinate the authority to perform particular tasks
Leadership styles
Are the different approaches to dealing with people and making decisions when in a position of authority autocratic or laissez faire
Piece rate
Is a way of paying for work that is based off fixed rate for a particular amount done rather than the time it takes
Commission
Is a fee paid to a sales person in exchange for services in completing a sales transaction
Fringe benefits
An amount paid on top of your basic salary
Bonus
One off payment made in addition to usual pay
