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Business keywords > People in businesses > Flashcards

People in businesses Flashcards

1
Q

Overdue

A

Money that has not been paid by the time expected

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2
Q

Communication channels

A

Routes along which info might travel in a business

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3
Q

Downward communication

A

Passing messages from the top of the organization to those at the bottom

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4
Q

Upward communication

A

Passing info from the bottom of an organization to those at the top

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5
Q

Horizontal communication

A

Exchange of info between parties on the same level in an organizational hierarchy

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6
Q

Internal communication

A

Communication between people inside the business

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7
Q

External communication

A

Communication between the business and those outside such as customers, investors or the authorities

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8
Q

Formal communication

A

Use of recognized channels of communication

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9
Q

Informal communication

A

Use of non approved channels when communicating

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10
Q

Redeployment

A

Moving someone or something to a different place or job

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11
Q

Internal recruitment

A

Appointing workers from inside the business

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12
Q

External recruitment

A

Appointing workers from outside the business

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13
Q

Unfair dismissal

A

When a worker is dismissed illegally by a business

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14
Q

Ombudsman

A

Someone who deals with complaints made by ordinary people against the government, banks, insurance, etc.

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15
Q

Minimum wage

A

Minimum amount per hour, which is what most workers are entitled to be paid

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16
Q

Apprenticeship

A

System of training new entrants to a trade or profession, often, but not always, younger workers, mostly on the job training but often with some college attendance

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17
Q

Arrears

A

Money that you owe someone, o is owed to you, because you have not made or have received regular payments at the correct intervals or amounts

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18
Q

FTSE 100

A

Index that measures the share prices of the top 100 companies in the UK

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19
Q

Training

A

Process that involves increasing the knowledge and skills of a worker to enable them to do their job more effectively

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20
Q

Induction training

A

Training given to new employees when they first start a job

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21
Q

On the job training

A

Training that takes place while you are doing the job

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22
Q

Mentoring

A

Where people with a lot of experience and knowledge advise and help other people at work or younger people preparing for work

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23
Q

Supervision

A

When you supervise someone or something

24
Q

Job rotation

A

Where employees alternate between jobs during the coarse of their employment

25
Q

Off the job training

A

Training that takes place away form the work area

26
Q

Job satisfaction

A

Pleasure, enjoyment or sense of achievement that employees get form their work

27
Q

Hygiene factors

A

Things at work that result in dissatisfaction

28
Q

Motivators

A

Things at work that result in satisfaction

29
Q

Job enrichment

A

Making a job more interesting challenging and interesting

30
Q

Maslow hierarchy of needs

A

Order of peoples needs starting with basic human needs

31
Q

Remuneration

A

Money paid to employees for their work or services

32
Q

Time rate

A

Payment system based on the amount of time employees spend at work

33
Q

Gross pay

A

Pay before deductions, such as tax

34
Q

Net pay

A

Take home pay, that is, pay after deductions, such as income tax pension contributions or student loan repayments

35
Q

Overtime

A

Rate of pay above the normal rate to compensate employees for working extra hours

36
Q

Salary

A

Pay, usually to non manual workers, expressed a yearly figure but paid monthly.

37
Q

Piece rate

A

Payment system where workers receive an amount of money for each unit produced

38
Q

Performance related pay

A

Payment system assigned for non manual workers where pay increases if performance targets are met

39
Q

Bonus systems

A

Payment in addition to the basic wage for reaching targets or in recognition for service

40
Q

Commission

A

Payment based on the value of sales, usually a percentage of sales made

41
Q

Fringe benefits

A

Perks over and above the normal wage or salary

42
Q

Design brief

A

Set of instructions about what a new product should look like or what features it should have

43
Q

Normal organization

A

Internal structure of a business as shown by an organization chart

44
Q

Organizational chart

A

Diagram that shows the different job roles in a business and how they relate to each other

45
Q

Payroll officer

A

Someone who is responsible for the administration of workers pay in an organization

46
Q

Accounts clerk

A

Someone who keeps records or accounts in an office

47
Q

Spam of control

A

Number of people a person is directly responsible for in a business

48
Q

Centralized

A

Type of organization system where most decisions are made at the top of the organization and then passed down the chain

49
Q

Decentralized

A

Type of organization system where decision making is pushed down the chain of command and away from the top

50
Q

Trade unions

A

Organizations, usually in a particular trade or profession they represent workers in meetings with employers

51
Q

Contracts of employment

A

Written agreements between an employer and an employee in which each has certain obligations

52
Q

Unfair dismissal

A

When a worker is dismissed illegally by a business

53
Q

Employment tribunal

A

Court that deals with cases involving disputes between employers and employees

54
Q

Market oriented

A

Where a business focuses on the needs of consumers when developing products

55
Q

Wholesalers

A

Persons or businesses that buy goods from manufacturers and sell them in smaller quantities

Business keywords (8 decks)

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