English II Test Flashcards
extrinsic motivation:
comes
from external rewards
associated with working on
a task, for example pay and
other benefits
motivation:
the intrinsic
and extrinsic factors
that stimulate people to
take actions that lead
to achieving a goal
intrinsic motivation:
comes
from the satisfaction derived
from working on and
completing a task
motivating factors
(motivators):
aspects of a
worker’s job that can lead
to positive job satisfaction,
such as achievement,
recognition, meaningful
and interesting work and
advancement at work
self-actualisation:
a sense
of self-fulfilment reached
by feeling enriched and
developed by what one has
learned and achieved
hygiene factors:
aspects
of a worker’s job that have
the potential to cause
dissatisfaction, such as pay,
working conditions, status
and over-supervision by
managers
job enrichment:
aims to
use the full capabilities of
workers by giving them the
opportunity to do more
challenging and fulfilling
work
salary:
annual income that
is usually paid on a monthly
basis
hourly wage rate:
payment
to a worker made for each
hour worked
piece rate:
a payment to
a worker for each unit
produced
commission:
a payment to
a sales person for each sale
made
performance-related pay:
a bonus to reward
staff for above-average
work performance
job enlargement:
attempting to increase
the scope of a job by
broadening or deepening
the tasks undertaken
profit-related pay:
a bonus
for staff based on the profits
of the business – usually
paid as a proportion of basic
salary
job enrichment:
attempting
to motivate employees by
giving them opportunities
to use the full range of their
abilities
cell production:
a lean
method of producing similar
products using cells, or
groups of team members
to facilitate operations
by eliminating setup time
between operations
job redesign:
involves the
restructuring of a job –
usually with employees’
involvement and
agreement – to make work
more interesting, satisfying
and challenging
job rotation:
the practice of
moving employees between
different tasks to promote
experience and variety
team working:
production
is organised so that groups
of workers undertake
complete units of work
organisational (corporate)
culture:
the shared values,
attitudes and beliefs of
the people working in an
organisation that control
the way they interact
with each other and with
external stakeholder groups
power culture:
concentrating power among
a few people
role culture:
each member
of staff has a clearly defined
job title and role
task culture:
based on
cooperation and teamwork
person culture:
when
individuals are given
the freedom to express
themselves and make
decisions
entrepreneurial culture:
encourages management
and workers to take risks,
to come up with new ideas
and test out new business
ventures
trade union (labour union):
an organisation of working
people with the objective
of improving the pay and
working conditions of its
members and providing
them with support and legal
services
industrial action:
measures
taken by the workforce or
trade union to put pressure
on management to settle an
industrial dispute in favour
of employees
single-union agreement:
an employer recognises just
one union for purposes of
collective negotiation’s
trade union recognition:
when an employer
formally agrees to conduct
negotiations on pay and
working conditions with
a trade union rather than
bargaining individually with
each worker
collective bargaining:
the negotiations between
employees’ representatives
(trade unions) and
employers and their
representatives on issues of
common interest such as pay
and conditions of work
no-strike agreement:
unions
sign an agreement with
employers not to strike
in exchange for greater
involvement in decisions
that affect the workforce
conciliation:
the use of a
third party in industrial
disputes to encourage
both employer and union
to discuss an acceptable
compromise solution
arbitration:
resolving an
industrial dispute by using
an independent third party
to judge and recommend an
appropriate solution
change management
planning, implementing,
controlling and reviewing the
movement of an organisation
from its current state to a
new one
project champion:
a person
assigned to support and
drive a project forward and
who explains the benefits
of change and assists and
supports the team putting
change into practice
project groups:
these are
created by an organisation
to address a problem that
requires input from different
specialists
start-up capital:
capital
needed by an entrepreneur
to set up a business
working capital:
the capital needed to pay for
raw materials, day-to-day
running costs and credit
offered to customers.
In accounting terms:
working capital = current
assets – current liabilities
internal finance:
raised from the business’s own
assets or from profits left in
the business (ploughed-back
or retained profits)
external finance:
raised from sources outside the
business
retained profit:
the profit left after all deductions,
including dividends, have
been made; this is ‘ploughed
back’ into the company as a
source of finance
liquidity:
the ability of a firm to pay its short-term
debts
overdraft:
bank agrees to a business borrowing up to
an agreed limit as and when
required
debt-factoring:
selling of claims over debtors to a
debt factor in exchange for
immediate liquidity; only a
proportion of the value of
the debts will be received
as cash
hire purchase:
an asset is sold to a company which
agrees to make fixed
repayments over an agreed
time period; the asset
belongs to the company
leasing:
obtaining the use
of equipment or vehicles
and paying a rental or
leasing charge over a fixed
period. This avoids the need
for the business to raise
long-term capital to buy the
asset; ownership remains
with the leasing company
equity finance:
permanent
finance raised by companies
through the sale of shares
long-term loans:
loans that do not have to be repaid for at least one year
debentures or long-term
bonds:
bonds issued by
companies to raise debt
finance, often with a fixed
rate of interest
rights issue:
existing shareholders are given the
right to buy additional
shares at a discounted price
venture capital:
invested in business start-
ups or expanding small
businesses, which have good
profit potential, but do not
find it easy to gain finance
from other sources
business angels:
individual investors who put in their
own money in a variety of
businesses and are seeking
a better return than
they would obtain from
conventional investments
subsidies:
financial benefits
given by the government to
a business to reduce costs
and encourage increased
production
direct costs:
these costs can
be clearly identified with
each unit of production
and can be allocated to
a cost centre
microfinance:
the provision
of very small loans by
specialist finance businesses,
usually not traditional
commercial banks
indirect costs:
costs which
cannot be identified with
a unit of production or
allocated accurately to a
cost centre – also known as
overhead costs
semi-variable costs:
costs
that have both a fixed and
a variable cost element
fixed costs:
costs that do
not vary with output in the
short run
variable costs:
costs that
vary with output
revenue:
the income
received from the sale
of a product
total revenue:
total income
from the sale of all units of
the product = quantity × price
revenue stream:
the income
that an organisation gets
from a particular activity
Maslow
Pyramide of human needs
Herzberger
Motivators
Job satisfaction resulted from fve main factors – achievement, recognition for
achievement, the work itself, responsibility and advancement.
Hygiene factors
Can lead to job dissatisfaction
company policy and
administration, supervision, salary, relationships with others and working conditions.
Pink
true motivation arises when individuals connect their work to a higher purpose and perceive their contributions as meaningful
John Adams
the relationship between an individual’s inputs (contribution) and benefits (reward) is important for their sense of fairness and equity, and thus for their motivation
