people in business Flashcards

1
Q

reasons why people work

A
  1. Have a better standard of living: by earning incomes they can satisfy their needs and wants
    2.Be secure: having a job means they can always maintain or grow that standard of living
    3.Gain experience and status: work allows people to get better at the job they do and earn a reputable status in society
    4.Have job satisfaction: people also work for the satisfaction of having a job
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2
Q

benefits of a well -motivated workforce

A
  1. high productivity
  2. high output per worker
  3. willingness
  4. two-way communications with management
  5. low labour turnover
  6. lower rate of absenteeism
  7. lower rate of strikes
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3
Q

the three motivation theories

A

1.F. W. Taylor
2.Maslow’s Hierarchy
3.Herzberg’s Two-Factor Theory

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4
Q

explain .F. W. Taylor theory

A

Taylor based his ideas on the assumption that workers were motivated by personal gains, mainly money and that increasing pay would increase productivity (amount of output produced). Therefore he proposed the piece-rate system, whereby workers get paid for the number of output they produce

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5
Q

explain Maslow’s Hierarchy theory

A

ierarchy of needs shows that employees are motivated by each level of the hierarchy going from bottom to top. Mangers can identify which level their workers are on and then take the necessary action to advance them onto the next level.
One limitation of this theory is that it doesn’t apply to every worker. For some employees, for example, social needs aren’t important but they would be motivated by recognition and appreciation for their work from seniors.

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6
Q

hierachy of needs

A

lastly - physicological needs ; wages high enough to provide weekly bills ,food , rest , recreation, shelter
fourthly- safety / security needs ; job security also safety against poverty and danger & protection on fair treatment .
thirdly - work colleagues that supports at work , friendship and sence of belonging in the team
secondly - esteem needs ; being given recognition for job welldone , having high status , independence .
firstly- self actualisation ; being promoted and given more responsibility.

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7
Q

what is Herzberg’s Two-Factor Theory

A
  1. first factor :hygiene factors’:
    status
    securitwork conditions
    company policies and administration
    relationship with superiors
    relationship with subordinates
    salary
  2. second factor -psychologically, called the ‘motivators’:

achievement
recognition
personal growth/development
promotion
work itself

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8
Q

examples of financial motivators

A
  1. wages
  2. time rate
  3. piece rate
  4. salary
  5. commission
  6. bonus
  7. performance -related pay
  8. profit sharing
  9. share ownership
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9
Q

what is time rate

A

Time-Rate: pay based on the number of hours worked. Although output may increase, it doesn’t mean that workers will work sincerely use the time to produce more- they may simply waste time on very few output since their pay is based only on how long they work.

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10
Q

define piece rate

A

Piece-Rate: pay based on the no. of output produced. Same as time-rate, this doesn’t ensure that quality output is produced.

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11
Q

what is commission

A

Commission: paid to salesperson, based on a percentage of sales they’ve made. The higher the sales, the more the pay.

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12
Q

what is bonus

A

Bonus: additional amount paid to workers for good work

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13
Q

define Performance-related pay

A

Performance-related pay: paid based on performance

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14
Q

what is profit sharing

A

Profit-sharing: a scheme whereby a proportion of the company’s profits is distributed to workers. Workers will be motivated to work better so that a higher profit is made.

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15
Q

define share ownership

A

Share ownership: shares in the firm are given to employees so that they can become part owners of the company. This will increase employees’ loyalty to the company, as they feel a sense of belonging.

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16
Q

list non financial motivators

A

Non-Financial Motivators

Fringe benefits are non-financial rewards given to employees
Company vehicle/car
Free healthcare
Children’s education fees paid for
Free accommodation
Free holidays/trips
Discounts on the firm’s products

17
Q

what is job enlargement

A

Job Enlargement: where extra tasks of similar level of work are added to a worker’s job description.

18
Q

what is job enrichment

A

Job Enrichment: involves adding tasks that require more skill and responsibility to a job.

19
Q

what is organizational structure

A

Organizational structure refers to the levels of management and division of responsibilities within a business

20
Q

adavantages of organizational structure

A
  1. All employees are aware of which communication channel is used to reach them with messages
  2. Everyone knows their position in the business. They know who they are accountable to and who they are accountable for
  3. It shows the links and relationship between the different departments
  4. Gives everyone a sense of belonging as they appear on the organizational chart
21
Q

the roles of a manager

remember the acronym

A
  1. planning
  2. organising
  3. coordinating
  4. commanding
  5. controling

POC3

22
Q

what the manger plan and why

A

Planning: setting aims and targets for the organisations/department to achieve. It will give the department and it’s employees a clear sense of purpose and direction.

23
Q

how does manager organise

A

Organizing: managers should then organize the resources. This will include allocating responsibilities to employees, possibly delegating.

24
Q

how does manger coordinate

A

the manger brings worker together to achieve organisation aims .
This will involve effective communication between departments and managers and decision making.

25
Q

what is commanding

A

Commanding: managers need to guide, lead and supervise their employees in the tasks they do and make sure they are keeping to their deadlines and achieving targets.

26
Q

what is controlling

A

Controlling: managers must try to assess and evaluate the performance of each of their employees.

27
Q

what is delegation

A

Delegation is giving a subordinate the authority to perform some tasks.

28
Q

advantages of delegation to managers

A
  1. managers cannot do all the task themselves
  2. managers can easily measure the efficiency and effectiveness of their subordinates’ work
29
Q

advantages of delegation to subordinates

A
  1. it can be used as a method of training and opportunities for promotion if they do a good job .
  2. the work becomes more interesting and rewarding- increased job satisfaction
  3. employees feel more important and feel trusted– increasing loyalty to firm
30
Q

reasons for a good manager

A
  1. to motivate employees
  2. to increase profitability of the business
  3. give guidance to employees
  4. inspire employees
  5. mange resources effectively
31
Q

what is a trade union

A

a trade union is a group that employeees join that protect the interest of the employees and are protected

32
Q

recruitment process

A
  1. job vacancy
  2. job analysis
  3. job description
  4. job specification
  5. job advertisement
  6. job application
  7. interview and selection
  8. vacancy filled
33
Q

adavantages of internal recruitment

A
  1. quicker and cheaper
  2. already known to the business
  3. the person knows hoe the organisations work
  4. motivating for employees
34
Q

disadvantages

A
  1. no new ideas or experience into the business
  2. they may be conflicts between empoyees
  3. quality of internal candidates may be low
35
Q

adavantages of employments

A

more flexible hours of work
easier to ask employees just to work at busy times
easier to extend business opening/operating hours by working evenings or at weekends
works lesser hours so employee is willing to accept lower pay
less expensive than employing and paying full-time workers

36
Q

disadvantages of partime workers

A

less likely to be trained because the workers see the job as temporary
takes longer to recruit two part-time workers than one full-time worker
can be less committed to the business/ more likely to leave and go get another job
less likely to be promoted because they will not have gained the skills and experience as full-time employees
more difficult to communicate with part-time workers when they are not in work- all work at different times.

37
Q

what is induction training

A

Induction training: an introduction given to a new employee, explaining the firm’s activities, customs and procedures and introducing them to their fellow workers.

38
Q

advantages of induction training

A

Advantages:

Helps new employees to settle into their job quickly
May be a legal requirement to give health and safety training before the start of work
Less likely to make mistakes

39
Q

disadvantages of induction training

A

Time-consuming
Wages still have to be paid during training, even though they aren’t working
Delays the state of the employee starting the job