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buisness studies > colegio victoria > Flashcards

colegio victoria Flashcards

1
Q

why do buisness’s recruit and select?

A
  • to replace staff who have left or been promoted
  • bring in staff with new skills
  • recruit more staff as buisness expand
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2
Q

Dissmisal

A
  • Employee is told to leave because of bad behavior

- told to leave because the buisness dosent need an extra worker

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3
Q

what are market changes

A
  • consumers taste and fashion change
  • new technology being developed
  • changes in consumers income
  • aging population
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4
Q

what is induction training

A

-induction training to give to a new employee explining the companies activities and procedures

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5
Q

why join a trade union?

A
  • improved conditions of employent
  • improved worked evinroment
  • job satisfaction
  • financial support
  • strength in number
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6
Q

what is a trade union?

A

group of workers who have joined together to ensure theyre interests are protected

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7
Q

what are the disadvantages in a trade union?

A
  • cost money to be a member

- maybe forced to take action

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8
Q

what is the role of marketing

A
  • identify and satisfy costumers needs
  • keep customers loyal
  • gather information about customers
  • recognise how customers needs are changing
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9
Q

Marketing goals

A
  • develop products that meet customers needs and wants
  • promoting products to customers
  • increase sales
  • target a new market
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10
Q

what are changes buisnesses need to respond to?

A
  • Globalisation Businesses can sell their products worldwide
  • Better transportation allows products to be distributed all over the world
  • Internet e-commerce (online shopping) allows customers to purchase goods from around the world
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11
Q

what are things employees need to be protected from?

A
  • Unfair discrimination at work and when applying for job
  • Wage protection (e.g. minimum wage)
  • Health and safety standards
  • Unfair dismissal
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12
Q

why might a buisness need to reduce the size of workforce?

A
  • automation (machines replace humans)
  • factory/shop closure
  • business relocating
  • demand for goods/services falling
  • business merging
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13
Q

how to decide who is made redundant?

A
  • Some workers may volunteer because they might have planned to leave anyways.
  • Lenght of time worked (employees who have worked there for a long time can stay)
  • Workers with good skills remain
  • Worker’s employment history (e.g. behavior / performance of employee)
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14
Q

what is on the job training?

A

Experienced worker teaches new worker how to do the job.

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15
Q

what are the advantages of on the job training?

A

Advantages

  • Training is cheap
  • Training is specific for their job
  • Work can be done while training
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16
Q

what are disadvantages of on the job training?

A

Disadvantages

  • The trainer will not be getting work done.
  • Training won’t be effective if the trainer is bad
17
Q

what is off the job training?

A

Training taking place off the job (not being trained while doing job)

18
Q

what are the disadvantages of off the job training?

A

Disadvantages

  • Off the job training is expensive
  • Worker may receive training paid by business and leave
  • Training may not be specific for the job
19
Q

leadership style

A

There are 3 main leadership styles – Autocratic, democratic and laissez-faire

20
Q

what does the autocratic leader do?

A

Autocratic – Leader is in charge and gives orders to employees
Makes decision alone
Everything depends on the leader

21
Q

what does the democratic leader do?

A

Democratic – Other employees involved in decision making

Communication between managers and employe

22
Q

what does the laissez faire leader do?

A

Laissez-Faire – “let it be” Leader sets objectives and employees makes decision and organise their own work.

23
Q

what are 3 ways to motivate workers?

A

Financial rewards

Non-financial rewards

Job satisfaction

24
Q

why do people work?

A

-Money

–People

-Esteem needs

25
Q

what are all the types of leadership styles

A
  • Authoritarian or autocratic
  • Participative or democratic
  • Laissez - faire or free reign
  • Charismatic
26
Q

what is barter exchange?

A

it is the exchange of one thing for another without the use of money. It was used in the past before money was invented.

27
Q

what are disadvantages of barter exchange?

A
  • A double coincidence of wants has to occur for barter to take place.
  • An exchange rate has to be agreed.
  • Divisibility of goods is not always convenient.
  • Storage of wealth is difficult with the barter system
28
Q

what are the factors of production?

A
  • land
  • labor
  • capital
  • enterprise

buisness studies (2 decks)

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