Terminology 2 Flashcards

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1
Q

What are Magnates?

A

Wealthy and influential people, especially in business or industry.

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2
Q

What is a Mogul?

A

A powerful and influential person, especially in business or media.

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3
Q

What is Wage?

A

The money paid regularly for work or services.

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4
Q

What is Minimum Wage?

A

The lowest legal amount an employee can be paid.

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5
Q

What are Fringe Benefits?

A

Formal non-wage benefits like health insurance or a company car.

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6
Q

What are Perks?

A

Informal benefits or rewards like flexible work hours or gym memberships.

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7
Q

What is Redundancy payments?

A

Compensation given to employees who are laid off because their roles are no longer needed.

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8
Q

What is a Trade Union?

A

An organization formed by workers to protect their rights and interests.

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9
Q

What does Cutting-Edge refer to?

A

The most advanced and innovative technologies.

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10
Q

What is Induction?

A

Introducing new employees to their job role, workplace, and colleagues.

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11
Q

What is a Rollout?

A

Making a product available in selected locations to test reactions.

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12
Q

What is Autonomy?

A

The ability to make decisions and control how they work.

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13
Q

What is Recruitment?

A

The process of attracting, selecting, and hiring new employees for a job.

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14
Q

What is Job rotation?

A

Allowing employees to switch between different roles to develop new skills.

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