People in Buisness (Keywords)

Question 1

Define Motivation

Answer 1

Motivation is the reason why employees want to work hard and work effectively for the business

Question 2

Define Wage

Answer 2

Wage is a payment for work, usually paid weekly

Question 3

Define Time rate

Answer 3

Time rate is the amount paid to an employee for one hour of work

Question 4

Define Piece Rate

Answer 4

Piece rate is an amount paid for each unit of output

Question 5

Define Salary

Answer 5

Salary is payment for work, usually paid monthly.

Question 6

Define Bonus

Answer 6

Bonus is an additional amount of payment above basic pay as a reward for good work

Question 7

Define Commission

Answer 7

Commission is payment relating to the number of sales made

Question 8

Define Profit Sharing

Answer 8

Profit sharing is a system whereby a proportion of the company’s profits are paid out to employees

Question 9

Define Job Satisification

Answer 9

Job satisfaction is the enjoyment derived from feeling that you have done a good job

Question 10

Define Job Rotation

Answer 10

Job rotation involves workers swapping around and doing each specific task for only a limited time and then changing around again

Question 11

Define Job Enrichment

Answer 11

Job enrichment involves looking at jobs and adding tasks that require more and/or responsibility

Question 12

Define Team Working

Answer 12

Team-working involves using groups of workers and allocating specific tasks and responsibilities to them

Question 13

Define Training

Answer 13

Training is the process of improving a worker’s skills

Question 14

Define Promotion

Answer 14

Promotion is the advancement of an employee in an organisation, for example, to a higher job/managerial level

Question 15

Define Organisational Structure

Answer 15

Organisational structure refers to the levels of management and division of responsibilities within an organisation

Question 16

Define Organisational Chart

Answer 16

Organisational chart refers to a diagram that outlines the internal management structure

Question 17

Define Hierarchy

Answer 17

Hierarchy refers to the levels of management in any organisation, from the highest to the lowest.

Question 18

Define Levels of Hierarchy

Answer 18

A level of hierarchy refers to managers/supervisors/other employees who are given a similar level of responsibility in an organisation.

Question 19

Define Chain of Command

Answer 19

Chain of command is the structure in an organisation which allows instructions to be passed down from senior management to lower levels of management

Question 20

Define Span of Control

Answer 20

The span of control is the number of subordinates working directly under a manager

Question 21

Define Directors

Answer 21

Directors are senior managers who lead a particular department or a division of a business.

Question 22

Define Line of Managers

Answer 22

Line managers have direct responsibility for people below them in the hierarchy of an organisation.

Question 23

Define Supervisors

Answer 23

Supervisors are junior managers who have direct control over the employees below them in the organisational structure.

Question 24

Define Staff Managers

Answer 24

Staff managers are specialists who provide support, information and assistance to line managers.

Question 25

Define Delegation

Answer 25

Delegation means giving a subordinate the authority to perform particular tasks.

Question 26

Define Leadership Styles

Answer 26

Leadership styles are the different approaches to dealing with people and making decisions when in apposition of authority - autocratic, democratic and laissez-faire.

Question 27

Define Autocratic Style

Answer 27

Autocratic leadership is where the manager expects to be in charge of the business and to have their orders followed.

Question 28

Define Democratic Style

Answer 28

Democratic leadership gets other employees involved in the decision-making process.

Question 29

Define Laissez Faire

Answer 29

Laissez-faire leadership makes the broad objectives of the business known to employees, but then they are left to make their own decisions and organise their own work.

Question 30

Define Recruitment

Answer 30

Recruitment is the process of identifying that the business needs to employ someone up to the point at which applications have arrived at the business

Question 31

Define Job Analysis

Answer 31

Job analysis identifies and records the responsibilities and tasks relating to a job.

Question 32

Define Internal Recruitment

Answer 32

Internal recruitment is when a vacancy is filled by someone who is an existing employee of the business

Question 32

Define Job Description

Answer 32

A job description outlines the responsibilities and duties to be carried out by someone employed to do a specific job.

Question 32

Define External Recruitment

Answer 32

External recruitment is when a vacancy is filled by someone who is not an existing employee and will be new to the business

Question 32

Define Job Specification

Answer 32

Job specification is a document which outlines the requirements, qualifications, expertise, physical characteristics, etc., for a specified job

Question 33

Define Induction Training

Answer 33

induction training is an introduction given to a new employee, explaining the business’s activities, customs and procedures and introducing them to their fellow workers

Question 34

Define On Job Training

Answer 34

On-the-job training occurs by watching a more experienced worker doing the job