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Business > People in business > Flashcards

People in business Flashcards

1
Q

Motivation

A

The factors that influence the behavior of employees towards achieving set business goals.

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2
Q

Labour productivity

A

A measure of the efficiency of employees by calculating the output per employee.

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3
Q

Absenteeism

A

Employees’ non-attendance without a good reason.

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4
Q

Labour turnover

A

The rate at which employees leave the business.

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5
Q

Benefits of having a well-motivated workforce

A

-Low rate of labour turnover
-Low rate of absenteeism
-Good quality goods and services
-Improved productivity
-More competitive

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6
Q

Human needs (Maslow)

A

-Physical needs
-Safety needs
-Social needs
-Esteem needs
-Self-actualization

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7
Q

The theory of economic man (Taylor)

A

The view that employees are only motivated by money

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8
Q

Hygiene factors (Herzberg)

A

The factors that must be present in the workplace to prevent job satisfaction

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9
Q

Motivators (Herzberg)

A

The factors that influence a person to increase their efforts

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10
Q

Job dissatisfaction

A

How unhappy and discontent a person is with their job.

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11
Q

Methods of motivation

A

-Financial rewards
-Non-financial rewards

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12
Q

Financial rewards

A

Cash and non cash rewards paid to an employee which are used to motivate them to increase their efforts

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13
Q

Hourly wage rate

A

A payment to employees based on a fixed amount for each hour worked

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14
Q

Salary

A

A fixed annual payment to certain grades and types of staff not based on hours worked or output

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15
Q

Piece-rate

A

A payment to employees depending on the number of units produced.

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16
Q

Commission

A

A payment to sales staff based on the value of the items they sell

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17
Q

Bonus

A

An additional reward paid to employees for achieving targets set by managers

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18
Q

Profit sharing

A

An additional payment to employees based on the profits of the business

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19
Q

Fringe benefits

A

Non-cash rewards often used to recruit or to retain employees and to recognize the status of certain employees.

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20
Q

Non-financial rewards

A

Methods used to motivate employees that do not involve giving financial rewards.

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21
Q

Job rotation

A

Increasing variety in the workplace by allowing employees to switch from one task to another

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22
Q

Job enlargement

A

Increasing or widening tasks to increase variety for employees

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23
Q

Job enrichment

A

Organizing work so that employees are encouraged to use their full abilities

24
Q

Job satisfaction

A

How happy and content a person is with their job.

25
Q

Quality circles

A

Groups of employees who meet regularly to discuss work-related problems

26
Q

Team working

A

Organizing production so that groups of employees complete the whole unit of work.

27
Q

Delegation

A

Passing responsibility to perform tasks to employees lower down in the organization

28
Q

Organisational structure

A

How responsibility and authority is shared within a business organisation.

29
Q

Chain of command

A

The route in which authority is passed down through an organisation.

30
Q

Span of control

A

The number of employees working directly under a manager

31
Q

Hierarchy

A

The number of levels in an organisational structure

32
Q

Functions of management

A

-Planning
-Organising
-Commanding
-Coordinating
-Controlling
-Delegating

33
Q

Leadership styles

A

-Autocratic leadership
-Democratic leadership
-Laissez-faire leadership

34
Q

Autocratic

A

A leadership style where the leader makes all the decisions

35
Q

Democratic

A

A leadership style where employees take part in decision-making.

36
Q

Laissez-faire

A

A leadership style where most of the decisions are left to the employees.

37
Q

Trade unions

A

Group of workers who have joined together to ensure their interests are protected.

38
Q

Internal recruitment

A

Filling a vacant post with someone already employed in the business

39
Q

External recruitment

A

Filling a vacant post with someone not already employed in the business

40
Q

Job description

A

A list of the key points about a job, job title, key duties, responsibilities and accountability.

41
Q

Person specification

A

A list of the qualifications, skills, experience and personal qualities looked for in a successful applicant.

42
Q

Shortlist

A

A list of candidates who are chosen from all of the applicants to be interviewed for the job.

43
Q

Full time employee

A

-Better knowledge
-More committed
-Better communication

-Paying wages all the time
-Expensive having too many full time workers.

44
Q

Part time employees

A

-Flexible working hours
-Cheaper than full time workers
-Have more employees during busy times

-Less trained because their work is temporary.
-Less committed
-Communication is difficult because they are not always at work.

45
Q

Importance of training

A

-Improve the workers skills and knowledge
-Trained workers are more productive
-Decreases the amount of supervision required
-Can lead to job satisfaction
-Reduce accidents and injuries.

46
Q

Induction training

A

A training programme to help new recruits become familiar with their workplace, the people they work with and procedures they need to follow.

47
Q

On-the-job training

A

Training at the workplace. Watching or following an experienced employee

48
Q

Off-the-job training

A

Training that takes place away from the workplace, eg at a college, university or specialist training providers premises.

49
Q

Resignation

A

Termination of employment by the employee, perhaps because they have a job with a different employer

50
Q

Retirement

A

Termination of employment due to the employee reaching an age beyond which they do not need to work

51
Q

Redundancy

A

Termination of employment by the employer because the job is no longer needed

52
Q

Dismissal

A

Termination by the employer because the employee has broken company rules or is nit performing work to the required standard

53
Q

Communication

A

The exchange of information by speaking, writing or other medium

54
Q

Oral communication

A

Communication using the spoken word.
-Faster
-Receiver can reply
-Cheaper

-Emotions are visible so can lead to issues sometimes.
-No permanent record of discussion
-Difficult for some to understand

55
Q

Written communication

A

Written forms of communication
-Permanent record of message
-Easily sent to all people

-Feedback is harder
-Expensive
Time consuming

56
Q

Visual communication

A

Business (2 decks)

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