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IGCSE > People in Buisness (Long answer) > Flashcards

People in Buisness (Long answer) Flashcards

1
Q

What is Motivation

A

the feeling that makes employees want to work hard and effectively in a business
Well-motivated workers with high productivity increased output and higher profits
Unhappy workers do not work effectively, low output, no/ lower profits

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2
Q

What are the main reason people want to work

A

Money: to pay for the basic needs for life and some wants
Security: to know that you are safe (financially)
Affiliation (Social needs): to feel part of a group, meet people, make friends
Self-importance (esteem): to feel that you are important and that the job you do is important
Job Satisfaction: to feel pleasure that you have done a good job

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3
Q

Explain F.W Taylor Theory

A

All individuals are motivated by personal gain”
Also known as “theory of an economic man”
Had a mechanical approach rather than human.
This means that if the workers are paid more, they will work more effectively
By breaking down worker’s jobs into simple tasks, you could calculate how much output they could do in a day
Taylor’s idea was that if the workers produced more, they would receive a bonus
But the problem with this approach is that Taylor believed everyone is ONLY motivated by money, which doesn’t, always stand true

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4
Q

Explain Abraham Maslow Theory

A

Physiological Needs – food, rest, shelter (fulfilled by receiving wages)
Safe/security Needs – protection against danger & poverty. Having fair treatment (fulfilled by having job security)
Social Needs – friendship, belonging in a group (fulfilled by having colleagues at work)
Esteem Needs – having status and recognition (fulfilled by being recognised for good work)
Self-actualisation – achieving your full potential, feeling that you have done a good job (fulfilled by being promoted & being given more responsibility)
Maslow’s theory also suggests that each level in the hierarchy (starting from Physiological needs) needs to be achieved before moving on to the next

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5
Q

Explain Fedrick Hzerbeg’s theory

A

Also known as “the 2-factor theory”
Humans have two sets of needs:
Basic human needs (called ‘Hygiene’)
To be able to grow physiologically (called ‘Motivator’ needs)

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6
Q

Define Wages

A

Wage is a payment given weekly
Workers are paid quickly, so don’t have to wait too long to receive money
Given overtime for extra hours worked
They must be calculated every week, which is expensive
Wage clerks need to be appointed

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7
Q

Define Time Rate

A

Paid according to the number of hours worked
Easy to calculate
Good and bad workers are paid the same (demotivating)
Supervisors may need to be appointed to keep a check on workers
Clocking-in system may be required

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8
Q

Define Piece Rate

A

Workers are paid depending on the quantity of products made
Given the above basic pay
Encourages workers to work faster
May only focus on quantity and ignore quality
Workers focusing on quality may earn less (demotivating)

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9
Q

Define Salaries

A

Paid monthly
No overtime
Salary = annual income/12
Payment needs to be calculated only once a month

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10
Q

Define Commission

A

Given to sales staff
Higher sales, higher money
Encourages people to sell more
If it too persuasive may have negative effects on customers

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11
Q

Define Profit Sharing

A

It involves giving employees a share of profit above basic pay
Increases motivation
Other profits may be given to shareholders

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12
Q

Define Bonus

A

A lump sum amount of money is given to workers who have done a good job
Paid yearly
Performance related pay
Employee pay is related to the effectiveness of the employee
Mostly used in the service sector, when output can’t be easily measured
Often used as a method of appraisal
Appraisal is when an employee’s immediate supervisor observes their work and discusses their training needs.

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13
Q

Define Share Ownership

A

Shares of a company are given out to employees
Encourages them to work harder
Share price and value may increase
Improves loyalty as there’s a greater sense of belonging

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14
Q

What are non finanical rewards (fringe benefits)

A

Company Car
Discounts of products
Health Care
Children’s schools paid for
The house is paid for
Free trips abroad (holidays)

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15
Q

What is Job Satisifcation

A

Enjoyment derived from feeling that you have done a good job
Pay
Promotion
Status
Training
If these things are kept in mind, employees will be well-motivated

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16
Q

What is Job Rotation

A

Working, swapping around and doing a specific job for a limited time period
Increases variety of work
Easier for managers to cover up if 1 employee is absent
It makes the job more interesting

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17
Q

What is Job Enlargement

A

Where extra tasks of a similar level of work are added to a person’s job description
Extra tasks shouldn’t add extra work
Increases variety
Higher job satisfaction

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18
Q

What is Job Enrichment

A

It involves adding tasks that require more skills
Higher responsibility
Higher job satisfaction
Higher productivity

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19
Q

Define Organisational Strucuture

A

the levels of management and division of responsibilities within a company

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20
Q

Benefits of Organisational Structure Chart

A

The chart shows how everybody is linked in the organization
Gives a sense of belonging
Employees know their position
It shows how departments are linked
All employees are aware of which communication channel they will receive messages

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21
Q

Define Chain of Command

A

The structure in an organization which allows instructions to be passed down from senior management levels to lower levels of management

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22
Q

Define Span of Control

A

The no of employees working directly under a manager

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23
Q

What are the advantages of having a wide Structure

A

Communication is faster and more accurate
Top managers are more in touch with subordinates because there are fewer levels
The wider span of control means employees feel trusted and make more decisions by themselves
Higher job satisfaction

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24
Q

What are the disadvantages of having a wide Strucuture

A

Difficult to control
Inefficient supervisors
Communication problems
Difficult to motivate workers
Sometimes, there may be a conflict between departments (i.e. marketing wants to buy something, but finance does not think it is necessary)

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25
What are the functions of Managers
Planning – setting aims or targets Organising – delegating tasks. organising people and resources effectively Co-ordinating – making sure departments work well with each other and have good communication Commanding – making sure the workers are keeping to targets and deadlines. By guiding and delegating tasks Controlling – measuring and evaluating work of employees and verify they are on target
26
Define Delegation
Delegation involves giving a subordinate the authority to perform particular task.
27
Why is Delegation important
Managers cannot do every job by themselves Managers can then measure the success of the employees Work becomes more interesting for subordinate, increases their motivation Makes employees feel trusted and important Gives workers greater career opportunities and chances of promotion
28
Define Autorcratic leader
where the manager expects to be in charge of the business and expects to have their orders followed with no questions asked
29
Define Democratic Leader
where the manager allows the subordinates to be involved in the decision-making process
30
Define Laissez Faire
Where the manager makes broad/general objectives for the employees and leaves them to make their own decisions.
31
Define Trade Unions
a group of workers that join together to protect their interests
32
Benefits of Trade Union
Improved conditions of employment (such as wages, holidays, hours of work) Improved work environment (health & safety, heating, noise) Advice/support if member thinks they have been unfairly fired, mistreated, etc
33
Define Recruitment
the process from identifying that a business needs to employ someone, to the point where applications have arrived at the business
34
Define Job Analysis
A job analysis is done to identify the tasks and responsibilities to be carried out by the new employee
35
Define Internal Recruitment
- when the vacancy is filled by someone who is an existing employee of the business
36
Advantages of Internal Recruitment
It is cheaper, motivates other employees, potential of the employee is already known. The employee is aware of the working conditions and other workers, lesser time taken for induction training But no new ideas come into the business and there may be jealousy and rivalry amongst employees
37
Define External Recruitment
when the vacancy is filled by someone who isn’t an existing employee and will be new to the business
38
Advantages of External Recruitment
New ideas come into the business. There’s wider choice of workers But it is expensive and time-taking and may demotivate existing employees Ads can be place in: Local newspapers- usually for unskilled and semi-skilled workers. National newspaper- usually for senior positions which requires high skills. Specialist magazines- used for particular technical people. Government job centers- usually for unskilled and semi-skilled workers. Recruitment agencies- they keep details about qualified people and are approached by companies
39
Advantages of Part Time Workers
Workers working for less than 35 hours a week Advantages: Work hours are flexible. Business can extend the opening/closing hours Employees can just work at busy times Cheaper for the employer than employing a full-time worker May agree for a low salary as good work-life balance
40
Disadvantages of Part Time Workers
Employees are less likely to be trained because they might see it as temporary and don’t want a promotion Takes longer to recruit many part-time workers than a couple full-time workers Communication problems may arise Might be less committed to the company
41
Advantages of Full Time Workers
Workers working for more than 35 hours a week Advantages: Higher training and chances of promotion Lesser time taken in recruitment Highly committed to the business Lesser communication problems
42
Disadvantages of Full Time Workers
No flexible working hours Expensive May demand higher pay as poor work-life balance
43
When is Training Required
New technology is employed Less supervision is required Need to increase efficiency Need to increase chances of internal promotion New skills needed Need to lower accidents
44
Define Induction Training
where the employee is given an introduction on the company’s procedures and customs, and is introduced to their co-workers
45
Advantages of Induction Training
Employees settle into their job quickly Workers make fewer mistakes May be a legal requirement
46
Disadvantages of Induction Training
Time consuming Worker is being paid while not doing work Delays the start of work for the employee
47
Define On Job Training
where the employee does the job while being supervised by a more experienced worker, giving tips, suggestions and help
48
Advantages of On job Training
Employee does not need to be sent away So cheaper than off-the-job training There is still production from worker while training
49
Disadvantages of On Job Training
Trainer won’t be as productive because they are teaching employee Trainer might have bad habits and pass on to employee Not recognized training qualifications outside the business
50
Define Off Job Training
where the employee is trained away from the workplace, normally by specialized trainers.
51
Advantages of Off Job Training
Lots of skills are taught trainings are sometimes off-work hours, worker will still work Employees become versatile (can be moved around company and know what to do)
52
Disadvantages of Off Job Training
Expensive to send employees off to expert trainings Workers are being paid but not doing any work Professional training gives employees additional qualifications, makes it easier for employee to find another job
53
Define Dismissal
when the worker is told to leave the job due to poor work or poor behavior (i.e. if employee is always late for work after being given warnings, when employee is caught stealing, etc)It is more commonly known as being ‘fired’
54
Define Redundancy
when a business no longer needs an employee. Even though the employee did nothing wrong. Usually happens during period of falling sales or due to an economic recession (when no one is buying anything)
55
Effective communication involves
The transmitter/sender sending a message to pass on information A medium of communication – the method for sending message (i.e. e-mail, phone, etc) The message being sent to the receiver The receiver confirming that the message has been received and responds to it (feedback)
56
Advantages of Verbal Method
sender speaks to the receiver (i.e. meetings, telephone, video conference) Advantages Information given out quickly & Efficient way to communicate with many people Opportunity for immediate feedback Message is reinforced by the speaker’s body language
57
Disadvantages of Verbal Methods
If talking to many people, it’s hard to tell whether everyone got the message Not good for accurate messages and if a permanent record of the message is needed
58
Advantages of Written Methods
sender creates e-mails, memos or letters, including the use of Information Technology Advantages Message can be referred to in the future “hard evidence” Easy to explain complicated messages Can be copied and re-sent to many people
59
Disadvantages of Written Method
Might lead to too many e-mails and ‘information overload’ Two-way communication is difficult Hard to check if message has been received
60
What are the communication Barriers (1)
Problems with the sender: when language is too difficult, speaks too quickly/not clearly, communicates wrong message Overcome by: using understandable language, making sure message is a clear as possible by asking questions to make sure message was understood
61
What are the communication Barriers (2)
Problems with the medium: message may be lost/not seen by receiver, wrong medium used (i.e. important message on noticeboard), if message is being passed along – it might get distorted Overcome by: sender asking for feedback/receiver always sending feedback that message is received, selecting the appropriate channel to send message
62
What are the communication Barriers
Problems with the receiver: not listening/paying attention, receiver doesn’t trust the sender/doesn’t want to do it Overcome by: emphasizing importance of message, ask for feedback to ensure it was understood, using direct communication

IGCSE (50 decks)

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