Key Terms

Question 0

What is an appraisal?

Answer 0

The procedure of assessing the effectiveness of a process or an employee. It is usually conducted by comparing goals with outcomes. May be conducted through a questionnaire or meeting. I will usually result with a discussion of career prospects and training needs

Question 1

What is an aim?

Answer 1

The long term intentions that provide a focus for setting objectives, SMART

Question 2

What is an apprenteship?

Answer 2

An apprentice is someone who works for a skilled person for a fixed period of time in order to learn a trade. They are usually on the job training and give an employee key skills to be successful in a certain department

Question 3

What is aptitude testing?

Answer 3

It measures the ability to acquire the knowledge or skills which the employer feels are necessary to do the job well. These skills should have been identified as part of the job analysis process before the vacancy was advertised. The tests are not to measure what you already know but are especially designed so that questions do not rely on specific prior knowledge

Question 4

What is coaching

Answer 4

Training or instructing the employee to achieve defined goals. Often carried out by your line manager

Question 5

What is code of practise?

Answer 5

Form of regulation,normally self regulation devised and run by an employers organisation that lays down appropriate standards for firms operating within an industry. It’s a away of improving the industry’s public image and of avoiding government legislation and regulation. Although codes of practice are most obvious within industries with poor reputations such as time-share holidays.

Question 6

What is curriculum vitae?

Answer 6

The itemisation of a job applicants qualifications, experience and interests. It should provide sufficient detail to enable a recruiter to build a picture of the applicants suitability, to provide references that can be taken up, and to give starting outs for discussion at interview.

Question 7

What is discrimination?

Answer 7

The practice of preferring a job applicant or an employee because of some physical or other identifiable characteristics. Discrimination on the grounds of sex, race and disability is illegal

Question 8

What is employment protection?

Answer 8

It refers to the legislation protecting the rights of the employee: eg. Employment protection act, which covers the individual employees statutory rights to employment protection, including the statement of terms and conditions, maternity rights, notice periods

Question 9

What does exit mean?

Answer 9

The procedure by which an employee leave a job position/employer

Question 10

What are functions?

Answer 10

The content and fouls of an individuals job role. Businesses structured on a functional basis separate these job functions into different function based departments such as finance, human resources, production and marketing

Question 11

What are goods?

Answer 11

Physical objects, tangible products in contrast to services

Question 12

What are incentives?

Answer 12

Financial or equivalent rewards to stimulate action from staff or customers. On a wider level, the term may be used to refer to groups of people who, for example, lack the incentive to work because they are in the poverty trap. Motivate people to work

Question 13

What is induction?

Answer 13

The introductory training programme designed to familiarise new recruits with the layout, health and safety, and security systems within the firm. The new employees might also be introduced to key personnel

Question 14

What is investors in people?

Answer 14

Investors in people uk is a company that sets a standard for employee consultation and training, designed to advance the performance of a business through the management and development of its people. The IIP framework is based on the business planning cycle of ‘plan, do, review’

Question 15

What is a job description?

Answer 15

A detailed statement of the nature of the job, identifying the precise tasks and responsibilities involved, it is likely to form pact of the individuals employment contract

Question 16

What is a legislation?

Answer 16

Laws passed by acts of parliament

Question 17

What is mentoring?

Answer 17

acting as a trusted advisor to a new recruit, the ensure that all recruits have a senior figure they can turn to for advice, the mantis will keep any comments of complaints confidential and they could therefore be a more effective advisor than the recruits boss

Question 18

What is an objective?

Answer 18

It’s a target that has been set to push the business further to meeting their final aim. This helps a business to be more successful and grow

Question 19

What is an organisational structure?

Answer 19

A diagram showing the lines of authority or layers of a hierarchy within an organisation. To be effective, the chain of command should be clear, show the different business functions and divisions, who is answerable to whom, the span of control, the official channels of communication

Question 20

What is a partnership?

Answer 20

A legal form of business organisation where two or more people trade together under the partnership law. 
Unlimited liability 
Personal freedom 
More specialised people 
Fewer responsibilities

Question 21

What is a personal slecification?

Answer 21

Attributes required in am employee, usually divided into essential and desired. The personal specification plays a particularly important role when shortlisting candidates for interview

Question 22

What is a pressure group?

Answer 22

An organisation formed by people with a common interest who get tiger her in order to further that interest. Make a difference

Question 23

What is a private limited company?

Answer 23

A small-medium sized business that is often run by the family that owns it. Within such a firm. The family can determine objectives without the pressures to make short term profits that are common amongst public limited companies, the main characteristics of a private limited company include :
Must have an ltd after it
Must have less that 50,000 of share capital
Is not allowed to gain a listing on the stock market

Question 24

What is profit?

Answer 24

What is left from revenue after costs have been deducted. Profit is also a return on capital invested: it compensated the owner of the capital for risk and for not being able to invest or use the capital elsewhere

Question 25

What is a psychometric test?

Answer 25

A selection test designed to reveal the personality of a candidate for recruitment of promotion. It is usually done through multiple-choice questions which many use word association to look for candidates sense of teamwork, their honesty or their sense of commitment

Question 26

What is a public limited company?

Answer 26

A company with limited liability that has over £50,000 of share capital and a wide spread of shareholders, PLCS are the only type of company allowed to be quoted on the stock exchange

Question 27

What is the public sector?

Answer 27

The organisations and activities that are owned and/or funded by national or local governments.these include public co operations, public services and municipal services

Question 28

What are regulations?

Answer 28

Laws made by delegated powers or by European law

Question 29

What does self-regulatory mean?

Answer 29

Occurs when an employers organisation decided to issue codes of behaviours to encourage the firms in an industry to act more responsibly. Traditionally such organisations have been founded when pressure for regulation from the public of parliament has become too great to ignore. The employers hope that the agreement to regulate themselves will pre-empt the need for government intervention

Question 30

What is a service?

Answer 30

Something intangible, something offered by a firm as opposed to a physical good. For example insurance

Question 31

What is shortlisting?

Answer 31

The procedure by which candidates are selected for job interviews

Question 32

What is a sole trader?

Answer 32

An individual who may or may not employ other people, but who owns and operates the business. Sole traders generally have little capital for expansion, and are heavily reliant on their own personal commitment to make the business a success. Should the business be unsuccessful, there is no cushion from limited liability as a sole trader is unincorporated, in other words, the firms finances are inseparable from the proprietors

Question 33

What is a stake holder?

Answer 33

An individual or a group with a direct interest in an organisations performance. Typical main stakeholders are: employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organisation, but a firms best long term interests are served by laying close attention to the needs of these groups

Question 34

What is surplus?

Answer 34

Any excess of revenue over costs earned by non-profit making organisations. The excess of costs Over revenues for these organisations is normally referred to as a deflect rather than a loss

Question 35

What is a trade union?

Answer 35

An organisation representing the interests and goals of working people, involving the payment of subscriptions for membership, unions can represent people with a particular skill or in a particular industry, or can represent a wide range of employees. Trade unions can produce collective bargaining on behalf of members, help in case of unsafe or unfair practices or access to free legal advice and support, as well as acting as a communication link between management and workforce