Unit 1 outcome 2.1 - Internal factors Flashcards
the internal factors of a business consist of the resources available within the business to achieve its goals, which include…?
- employees
- managers
- finance
- technology
- corporate culture
3 impacts of poorly qualified employees:
- mistakes/breakages in production
- low output/productivity
- increased costs of production
Name 4 advantages of having motivated employees:
- increased productivity and quality, leading to lower costs per item produced and a reduction in wastage
- low staff turnover, which will reduce training costs
- employer’s reputation increases, which will attract the best employees
- reduced absenteeism as employees are satisfied at work, which means fewer delays or less overtime to make up for lack of workers
What will staff be motivated by within many different aspects of their jobs?
- targets and the prospects of an increase in salary or a promotion
- completing a difficult project or problem solving
- team work and having a sense of identity within the business
When may industrial action occur?
when the employees and employers fail to agree over pay or the terms and conditions of employment
What are the different types of industrial action that could occur?
work to rule overtime ban sit-in strike action go slow
What is work to rule?
employees only carry out the work that is stated in their contract of employment
What is overtime ban?
employees only work the hours required by their contract
What is sit-in?
occupying the business premises but not undertaking any duties
what is strike action?
labour is withdrawn and the business will be unable to continue with production or meet customer needs
what is go slow?
reducing the normal speed of work
What are some of the impacts of industrial impact?`
- production will stop so there will be fewer products to sell
- sales are lost, resulting in a loss of revenue
- the reputation of the business is damaged, which means that customers are less likely to buy from it
- the relationship between employers and employees become strained, which could increase absenteeism, punctuality and staff turnover
What is the impact of managers?
when employees are motivated and perform well, a great deal of this can be attributed to positive relationships with managers/supervisors
name 4 points that successful managers carry out:
- communicate effectively with staff
- give appropriate guidance and encouragement
- arrange necessary training and development
- encourage employee participation in decision making
What are the 5 functions of management and their definitions?
(POCCCDM)
- Plans: looks ahead and sets aims and strategies
- organises: makes arrangements for all the resources of the organisation to be in the right place at the right time and in the right quantities; collecting, storing and processing information
- commands: tells subordinates what their duties are; being the leader, decision making setting vision and supporting staff
- co-ordinates: makes sure everyone is working towards the same aims and that the activities of individual workers fit in with the work of the other parts of the organisation
- controls: measures, evaluates and compares results against plans, and supervises and check work done; ensuring the plan is on target and in budget, monitoring the quality of work
