Key Terms Flashcards
Appraisal
The procedure of assessing the effectiveness of a process or an employee.
Apprenticeships
An apprentice is someone who works for a skilled person for a fixed period of time in order to learn a trade.
Aptitude testing
Measure the ability to acquire the knowledge or skills, which the employer feels necessary to do the job well.
Coaching
Training or instructing the employee to achieve defined goals. Often carried out by your line manager.
Code of practice
A form of regulation, normally self-regulation devised and run by an employers’ organisation that lays down appropriate standards for firms operating within the industry.
Curriculum vitae (CV)
The itemisation of a job applicant’s qualifications, experience and interests.
Discrimination
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.
Employment protection
Refers to legislation protecting the rights of the employee: eg Employment Protection Act 1978, which covers the individual employee’s statutory rights to employment protection.
Ethical decisions
Pertains to the moral principles that should underpin decision-making. A decision made on ethical grounds might reject the most profitable solution in favour of one of greater benefit to society as well as the firm.
Equal opportunities
A situation where employees and potential recruits have equal chances of being employed or promoted, whatever their sex, race, colour, nationality or national origin, religion or disability.
Exit
The procedure by which an employee leaves a job position and/or employer.
Functions
The content and focus of an individual’s job role. Business structured on a functional basis separate these job functions into different function based departments such as Finance, Human Resources, Production and Marketing.
Goods
Physical objects; tangible products in contrast to services.
Health and safety
The duty of employers to ensure the health, safety and welfare at work of all staff, according to the Health and Safety at Work Act 1974.
Incentives
Financial or equivalent rewards (such as free holidays) to stimulate action from staff or customers.
Induction
The introductory training programme designed to familiarise new recruits with the layout, health and safety, and security systems within the firm.
Investors in People
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.
Job description
A detailed statement of the nature of the job, identifying the precise take and responsibilities involved.
Legal
Legal matters affecting businesses usually comes from Act of Parliament, case law, delegated legislation and European regulations.
Legislation
Laws passed by Acts of Parliament.
Mentoring
Acting as trusted advisor to s new recruit. Ensures that all recruits have a senior figure they can turn to for advice.
Motivation theories; Herzberg
Formulated a two-factor theory that acknowledges motivation is the will to work due to enjoyment of the work itself. This should be distinguished from doing a job in return for material goods eg houses, cars.
Motivation theories; McGregor
Formulated an alternative theory (on management as much as motivation) to the idea that everyone has an inherent dislike of work that managers are in charge of people who have to be controlled.
Motivation theories; Maslow
Suggested that it is possible to develop a hierarchical picture of needs, split into five broad categories - basic needs, security needs, group needs, self-esteem needs and self-fulfilment needs.
Objectives
The medium to long-term targets that can give a sense of direction to a manger, team, department, whole organisation or government.
Organisational structures
A diagram showing the lines of authority and layers of hierarchy within an organisation.
Partnership
A legal form of business organisation where two or more people trade together under the Partnership Act of 1890. It is usual for partnerships to have unlimited liability, which means each partner is liable for the debts of the other partners.
Person specification
Attributes required in an employee, usually divided into essential and desired. The person specification play a particular role when shortlisting candidates for interview.
Pressure group
An organisation formed by people with a common interest who get together in order to further that interest.
Private limited company
A small to medium-sized business that is often run by the family that owns it.
Profit
What is left from revenue after costs have been deducted.
Psychometric test
A selection test designed to reveal the personality of a candidate for recruitment or promotion.
Public limited company
A company with limited liability that has over £50,000 of share capital and a wide spread of shareholders.
Public sector
The organisations and activities that are owned and/or funded by national or local government.
Regulations
Laws made by delegated powers or by European law.
Self-regulatory
Occurs when an employers’ organisation decides to issue codes of behaviour to encourage the firms in an industry to act more responsibility.
Services
Something intangible product offered by a firm, as opposed to a physical ‘good’, eg insurance, offering advice, delivery goods, training.
Shortlisting
The procedure by which candidates are selected for job interviews.
Sole trader
An individual who may or may not employ other people, but who owns and operates the business.
Stakeholder
An individual or group with a direct interest in an organisations performance.
Surplus
Any excess revenue over costs earned by non-profit-making organisations.
Trade unions
An organisation representing the interests and goals of working people, involving the payment of subscriptions for membership.
Aims
The long-term intentions that provide a focus for setting objectives. They are usually expressed qualitatively, sometimes in the form of a mission statement.
