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Business Studies > Chap 11- motivation > Flashcards

Chap 11- motivation Flashcards

1
Q

what is time based wage rate?

A

payment made to worker for each period of time worked, eg. one hour.

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2
Q

advantages of time based wage rate?

A
  • easy to calculate

- worker knows exactly what they will be paid for.

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3
Q

disadvantages of time rate?

A
  • will take time to calculate wages.
  • might have to employ wage clerks
  • good and bad workers get paid same
  • clocking in system
  • more supervisers
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4
Q

what is piece rate?

A

payment made to worker for each unit produced.

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5
Q

advantages of piece rate?

A
  • work faster, more output

- helps n costing. labour cost for each unit is set in advance and this helps to set a price for product.

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6
Q

disadvantages of piece rate?

A
  • wont focus on quality. might damage reputation
  • quality control and standardisation needed.
  • good workers wont earn as much as bad workers
  • if machine breaks down, goods wont be produced but workers will still gave to be paid.
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7
Q

what is salary?

A

annual income usually paid on a monthly basis.

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8
Q

advantages of salary?

A
  • security of income
  • helps in costing
  • status
  • suitable for jobs where output is measurable
  • suitable for management positions where staff is expected to stay overtime.
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9
Q

disadvantages of salary?

A
  • income is not related to effort levels or productivity.
  • employee might get complacent.
  • appraisal will be needed regularly to see if salary should be increased.
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10
Q

what is commission?

A

payment made to salesperson for each sale made.

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11
Q

what is bonus?

A

a payment made in addition to actual wage/salary.

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12
Q

what is performance related pay?

A

a bonus scheme to reward staff for above average work performance.

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13
Q

why is it important to have a motivated workforce?

A
  • productivity
  • low labour turnover
  • less absenteeism
  • prepared to take responsibility
  • suggestions for improvement
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14
Q

benefits of job enrichment?

A
  • motivation
  • training
  • decision making and responsibility
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15
Q

what are the three key features of job enrichment?

A
  • complete units of work so that the contribution of each worker can be identified.
  • direct feedback on performance so workers can be aware of their progress.
  • challenging new tasks, training and new skills. a form of gaining status and recognition.
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16
Q

what are fringe benefits?

A

benefits given to workers apart from pay, eg. company cars, free insurance etc.

17
Q

what are the advantages of performance related pay?

A

1-motivated staff
2-target setting helps give direction
3-appraisal gives feedback and opportunity to workers to improve.

18
Q

what are the disadvatages of performance related pay?

A

1- if workers dont need financial rewards it might fail to motivate them
2- team spirit can be damaged
3- claims of manager favouritism can ruin reationships

19
Q

what is profit sharing?

A

a bonus for workers based on the profits of the business. usually paid as proportion fo basic salary.

20
Q

what are the advantages of profit sharing?

A
  • motivation
  • increase in overall profitability
  • team spirit, less behes, more focus on profits
  • accept cost reduction measures
21
Q

what are the disadvantages of proft sharing?

A
  • isnt related to individual effort. why bother if all are getting share?
  • unlikely to motivate as small profit share is paid at end of year.
  • reduce retained profits.
  • costly to set up.
22
Q

what are non financial rewards of motivation?

A
  • job rotation
  • job enlargement
  • job enrichment
  • job redesign
  • team work
  • training
  • delegation
  • quality circles
23
Q

what is job rotation?

A

increasing the flexibility of employees by switching them from one job to another.

24
Q

what is job enlargement?

A

increasing the scope of a job by increasing the tasks and responsibilities.

25
Q

what is job redesign?

A

involves the restructuring of a job, usually with worker’s agreement, to make it more rewarding, challenging etc.

26
Q

what are quality circles?

A

voluntary groups of workers who meet regularly to discuss work related problems and issues.

27
Q

what is worker participation?

A

when workers are encouraged to be involved in decision making.

28
Q

what is team working?

A

working in groups

29
Q

benefits of team working?

A
  • motivated as social needs will be fulfilled
  • more productivity, less labour turnover
  • better solutions to problems
  • less managers needed
30
Q

disadvantages of team working?

A
  • not the best for introverts
  • conflicts
  • need for training

Business Studies (13 decks)

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