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Business Studies > Unit 2 Flashcards > Flashcards

Unit 2 Flashcards

1
Q

Hierarchy

A

How people rank in an organisation -The different levels of authority within the organisation

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2
Q

Chain of Command

A

A system by which instructions are passed from one person to another

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3
Q

Delegation

A

Passing responsibility to perform tasks to workers lower down the organisation

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4
Q

Organisation Chart

A

Visual representation of a company’s internal structure

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5
Q

Subordinate

A

Someone working below you

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6
Q

Laissez-Faire

A

Decisions are made with the best interests of the employees at heart

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7
Q

Democratic

A

The manager encourages the workforce to join in the decision making process. They discuss issues, delegate responsibility and listen to advice

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8
Q

Autocratic

A

Manager makes their own decisions without consulting the workforce

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9
Q

Trade union

A

An organisation of employees aimed at improving the pay and working conditions, and providing other services such as legal advice.

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10
Q

Job description

A

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

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11
Q

Person specification

A

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

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12
Q

Job analysis

A

It identifies the content of the job such as what is involved

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13
Q

Induction

A

Introduction to your environment on first day

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14
Q

Off-The-Job training

A

Training that takes place away from the workplace, for example at college or university

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15
Q

On-The-Job training

A

Training at the place of work, watching or following an experienced employee

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16
Q

CV

A

A document listing your achievements and skills - A chance to sell yourself to a potential employer

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17
Q

Internal recruitment

A

They employ an employee who is already in the company to fill in a place (Job promotion)

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18
Q

External recruitment

A

If a business decides that none of its current employees has the necessary skills to fill in a spot they will hire externally

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19
Q

Delayering

A

Removing some of the layers of management

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20
Q

Job rotation

A

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

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21
Q

Job enlargement

A

Increasing or widening tasks to increase variety for workers

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22
Q

Job enrichment

A

Organising work so that workers are encouraged to use their full abilities

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23
Q

Job satisfaction

A

How happy and content a person is with their job

24
Q

Team working

A

Organising production so that groups of workers complete the whole unit of work

24
Q

Quality circles

A

Groups of workers who meet regularly to work discuss work related problems

25
Q

Absenteeism

A

Employees non attendance at work without good reason

26
Q

Labour turnover

A

The rate at which employees leave a business

27
Q

Piece rate

A

Paying employees for each unit produced

28
Q

Job dissatisfaction

A

How unhappy and discontent a person is with their job

29
Q

Financial rewards

A

Cash and non-cash rewards which are often used to motivate employees which are often used to motivate employees to increase their efforts

30
Q

Non financial rewards

A

Methods used to motivate employees that do not involve giving any financial reward

31
Q

Hourly wage rate

A

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

32
Q

Salary

A

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

33
Q

Commission

A

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

34
Q

Bonus

A

An additional reward staff for performing to the required standard

35
Q

Fringe benefits

A

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

36
Q

Profit sharing

A

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

37
Q

Organisational structure

A

The formal, internal framework of a business that shows how it is managed and organised

38
Q

Functional departments

A

The main activities of business: finance, marketing, operations, human resources and research and development

39
Q

Span of control

A

The number of subordinates reporting to each supervisor/manager

40
Q

Centralised organisation

A

One where all the important decision-making power is held at head office or the centre

41
Q

Decentralised organisation

A

One where the decision-making powers are passed down the organisation to lower levels

42
Q

Directors

A

Appointed or elected members of the board of directors of a company who have the responsibility for determining and implementing the company’s policy. Some directors might also have a management role, for example a marketing director.

43
Q

Annual General Meeting (AGM)

A

A meeting for shareholders that limited companies must

44
Q

Chief executive officer (CEO)

A

The most senior manager responsible for the overall performance and success of a company

45
Q

Manager

A

An individual who is in charge of a certain group of tasks or a certain area or department of a business, for example factory manager

46
Q

Supervisor

A

An individual who checks and controls the work of subordinates

47
Q

Shortlist

A

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

48
Q

Resignation

A

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

49
Q

Retirement

A

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

50
Q

Redundancy

A

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

51
Q

Dismissal

A

Termination by the employer because the employee has broken company rules or is not performing work to the required standard

52
Q

Communication Media

A

The methods used to communicate a message

53
Q

Feedback

A

The receivers response to a message

54
Q

Effective communication

A

Information passed between 2 or more people or groups, with feedback to confirm that the message has been received and understood

55
Q

Two way communication

A

The receiver is allowed to respond to the message and the sender listens to the response

Business Studies (6 decks)

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