Terminology 2 Flashcards
What are Magnates?
Wealthy and influential people, especially in business or industry.
What is a Mogul?
A powerful and influential person, especially in business or media.
What is Wage?
The money paid regularly for work or services.
What is Minimum Wage?
The lowest legal amount an employee can be paid.
What are Fringe Benefits?
Formal non-wage benefits like health insurance or a company car.
What are Perks?
Informal benefits or rewards like flexible work hours or gym memberships.
What is Redundancy payments?
Compensation given to employees who are laid off because their roles are no longer needed.
What is a Trade Union?
An organization formed by workers to protect their rights and interests.
What does Cutting-Edge refer to?
The most advanced and innovative technologies.
What is Induction?
Introducing new employees to their job role, workplace, and colleagues.
What is a Rollout?
Making a product available in selected locations to test reactions.
What is Autonomy?
The ability to make decisions and control how they work.
What is Recruitment?
The process of attracting, selecting, and hiring new employees for a job.
What is Job rotation?
Allowing employees to switch between different roles to develop new skills.