English II Test

Question 1

extrinsic motivation:

Answer 1

comes
from external rewards
associated with working on
a task, for example pay and
other benefits

Question 2

motivation:

Answer 2

the intrinsic
and extrinsic factors
that stimulate people to
take actions that lead
to achieving a goal

Question 3

intrinsic motivation:

Answer 3

comes
from the satisfaction derived
from working on and
completing a task

Question 4

motivating factors
(motivators):

Answer 4

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

Question 5

self-actualisation:

Answer 5

a sense
of self-fulfilment reached
by feeling enriched and
developed by what one has
learned and achieved

Question 6

hygiene factors:

Answer 6

aspects
of a worker’s job that have
the potential to cause
dissatisfaction, such as pay,
working conditions, status
and over-supervision by
managers

Question 7

job enrichment:

Answer 7

aims to
use the full capabilities of
workers by giving them the
opportunity to do more
challenging and fulfilling
work

Question 8

salary:

Answer 8

annual income that
is usually paid on a monthly
basis

Question 9

hourly wage rate:

Answer 9

payment
to a worker made for each
hour worked

Question 10

piece rate:

Answer 10

a payment to
a worker for each unit
produced

Question 11

commission:

Answer 11

a payment to
a sales person for each sale
made

Question 12

performance-related pay:

Answer 12

a bonus to reward
staff for above-average
work performance

Question 13

job enlargement:

Answer 13

attempting to increase
the scope of a job by
broadening or deepening
the tasks undertaken

Question 13

profit-related pay:

Answer 13

a bonus
for staff based on the profits
of the business – usually
paid as a proportion of basic
salary

Question 14

job enrichment:

Answer 14

attempting
to motivate employees by
giving them opportunities
to use the full range of their
abilities

Question 15

cell production:

Answer 15

a lean
method of producing similar
products using cells, or
groups of team members
to facilitate operations
by eliminating setup time
between operations

Question 16

job redesign:

Answer 16

involves the
restructuring of a job –
usually with employees’
involvement and
agreement – to make work
more interesting, satisfying
and challenging

Question 17

job rotation:

Answer 17

the practice of
moving employees between
different tasks to promote
experience and variety

Question 17

team working:

Answer 17

production
is organised so that groups
of workers undertake
complete units of work

Question 18

organisational (corporate)
culture:

Answer 18

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

Question 18

power culture:

Answer 18

concentrating power among
a few people

Question 19

role culture:

Answer 19

each member
of staff has a clearly defined
job title and role

Question 20

task culture:

Answer 20

based on
cooperation and teamwork

Question 21

person culture:

Answer 21

when
individuals are given
the freedom to express
themselves and make
decisions

Question 22

entrepreneurial culture:

Answer 22

encourages management and workers to take risks, to come up with new ideas and test out new business ventures

Question 23

trade union (labour union):

Answer 23

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

Question 24

industrial action:

Answer 24

measures taken by the workforce or trade union to put pressure on management to settle an industrial dispute in favour of employees

Question 25

single-union agreement:

Answer 25

an employer recognises just one union for purposes of collective negotiation’s

Question 25

trade union recognition:

Answer 25

when an employer formally agrees to conduct negotiations on pay and working conditions with a trade union rather than bargaining individually with each worker

Question 26

collective bargaining:

Answer 26

the negotiations between employees’ representatives (trade unions) and employers and their representatives on issues of common interest such as pay and conditions of work

Question 27

no-strike agreement:

Answer 27

unions sign an agreement with employers not to strike in exchange for greater involvement in decisions that affect the workforce

Question 28

conciliation:

Answer 28

the use of a third party in industrial disputes to encourage both employer and union to discuss an acceptable compromise solution

Question 29

arbitration:

Answer 29

resolving an industrial dispute by using an independent third party to judge and recommend an appropriate solution

Question 30

change management

Answer 30

planning, implementing, controlling and reviewing the movement of an organisation from its current state to a new one

Question 31

project champion:

Answer 31

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

Question 32

project groups:

Answer 32

these are created by an organisation to address a problem that requires input from different specialists

Question 33

start-up capital:

Answer 33

capital needed by an entrepreneur to set up a business

Question 34

working capital:

Answer 34

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

Question 35

internal finance:

Answer 35

raised from the business’s own assets or from profits left in the business (ploughed-back or retained profits)

Question 36

external finance:

Answer 36

raised from sources outside the business

Question 37

retained profit:

Answer 37

the profit left after all deductions, including dividends, have been made; this is ‘ploughed back’ into the company as a source of finance

Question 38

liquidity:

Answer 38

the ability of a firm to pay its short-term debts

Question 39

overdraft:

Answer 39

bank agrees to a business borrowing up to an agreed limit as and when required

Question 40

debt-factoring:

Answer 40

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

Question 41

hire purchase:

Answer 41

an asset is sold to a company which agrees to make fixed repayments over an agreed time period; the asset belongs to the company

Question 42

leasing:

Answer 42

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

Question 43

equity finance:

Answer 43

permanent finance raised by companies through the sale of shares

Question 44

long-term loans:

Answer 44

loans that do not have to be repaid for at least one year

Question 45

debentures or long-term bonds:

Answer 45

bonds issued by companies to raise debt finance, often with a fixed rate of interest

Question 46

rights issue:

Answer 46

existing shareholders are given the right to buy additional shares at a discounted price

Question 47

venture capital:

Answer 47

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

Question 48

business angels:

Answer 48

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

Question 49

subsidies:

Answer 49

financial benefits given by the government to a business to reduce costs and encourage increased production

Question 50

direct costs:

Answer 50

these costs can be clearly identified with each unit of production and can be allocated to a cost centre

Question 51

microfinance:

Answer 51

the provision of very small loans by specialist finance businesses, usually not traditional commercial banks

Question 52

indirect costs:

Answer 52

costs which cannot be identified with a unit of production or allocated accurately to a cost centre – also known as overhead costs

Question 53

semi-variable costs:

Answer 53

costs that have both a fixed and a variable cost element

Question 54

fixed costs:

Answer 54

costs that do not vary with output in the short run

Question 55

variable costs:

Answer 55

costs that vary with output

Question 56

revenue:

Answer 56

the income received from the sale of a product

Question 57

total revenue:

Answer 57

total income from the sale of all units of the product = quantity × price

Question 58

revenue stream:

Answer 58

the income that an organisation gets from a particular activity

Question 59

Maslow

Answer 59

Pyramide of human needs

Question 60

Herzberger

Answer 60

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.

Question 61

Pink

Answer 61

true motivation arises when individuals connect their work to a higher purpose and perceive their contributions as meaningful

Question 62

John Adams

Answer 62

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