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Business Studies GCSE 2022-24 (Units 1-3) > Unit 2 Key Words > Flashcards

Unit 2 Key Words Flashcards

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1
Q

Motivation

A

The factors that influence the behaviour of employees towards achieving set business goals.

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2
Q

Labour productivity

A

A measure of the efficiency of employees by calculating the output per employee.

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3
Q

Absenteeism

A

Employees’ non-attendance at work without good reason.

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4
Q

Labour turnover

A

The rate at which employees leave a business.

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5
Q

The theory of economic man

A

The view that humans are only motivated by money. (F.W. Taylor)

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6
Q

Piece-rate

A

A payment to employees based on the number of units produced.

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7
Q

Hygiene factors

A

The factors that must be present in the workplace to prevent job dissatisfaction.

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8
Q

Motivators

A

The factors that influence a person to increase their efforts.

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9
Q

Job dissatisfaction

A

How unhappy and discontent a person is with their job.

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10
Q

Financial rewards

A

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

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11
Q

Non-financial rewards

A

Methods used to motivate employees that don’t involve giving any financial reward.

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12
Q

Hourly wage rate

A

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

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13
Q

Salary

A

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

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14
Q

Commission

A

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

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15
Q

Bonus

A

An additional reward paid to employees for achieving targets set by managers.

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16
Q

Performance-related pay

A

A bonus scheme used to reward staff for performing to the required standard.

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17
Q

Fringe benefits

A

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

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18
Q

Profit sharing

A

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

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19
Q

Job rotation

A

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

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20
Q

Job enlargement

A

Increasing or widening tasks to increase variety for employees.

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21
Q

Job enrichment

A

Organising work so that employees are encouraged to use their full abilities.

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22
Q

Quality circles

A

Groups of employees who meet regularly to discuss work-related problems.

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23
Q

Team working

A

Organising production so that groups of employees complete the whole unit of work.

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24
Q

Delegation

A

Passing authority to perform tasks to employees lower down the organisation.

25
Q

Organisational structure

A

The formal, internal framework of a business that shows how it’s managed and organised.

26
Q

Functional departments

A

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

27
Q

Hierarchy

A

The number of levels in an organisational structure.

28
Q

Chain of command

A

The route through which authority is passed down through an organisation.

29
Q

Subordinate

A

An employee who is below another employee in the organisation’s hierarchy.

30
Q

Span of control

A

The number of subordinates reporting to each supervisor/manager.

31
Q

Delayering

A

Reducing the size of the hierarchy by removing one or more levels - most often middle management.

32
Q

Centralised organisation

A

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

33
Q

Decentralised organisation

A

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

34
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.

35
Q

Annual General Meeting (AGM)

A

A meeting for shareholders that limited companies must hold once every year.

36
Q

Chief executive officer (CEO)

A

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

37
Q

Manager

A

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

38
Q

Supervisor

A

An individual who checks and controls the work of subordinates.

39
Q

Autocratic leadership

A

A leadership style where the leader makes all the decisions.

40
Q

Democratic leadership

A

A leadership style where employees take part in decision-making.

41
Q

Laissez-faire leadership

A

A leadership style where most of the decisions are left to the employees.

42
Q

Trade union

A

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

43
Q

Internal recruitment

A

Filling a vacant post with someone already employed in the business.

44
Q

External recruitment

A

Filling a vacant post with somebody not already employed in the business.

45
Q

Job description

A

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

46
Q

Person specification

A

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

47
Q

Shortlist

A

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

48
Q

Induction training

A

A training programme to help new recruits become familiar with their workplace, the people they work with and the procedures they need to follow.

49
Q

On-the-job training

A

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

50
Q

Off-the-job training

A

Training that takes place away from the workplace, for example at college, university or specialist training provider’s premises.

51
Q

Resignation

A

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

52
Q

Retirement

A

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

53
Q

Redundancy

A

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

54
Q

Dismissal

A

Termination by the employer because the employee has broken company rules or isn’t performing work to the required standard.

55
Q

Communication media

A

The methods used to communicate a message.

56
Q

Feedback

A

The receiver’s response to a message.

57
Q

Effective communication

A

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

58
Q

Two-way communication

A

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

Business Studies GCSE 2022-24 (Units 1-3) (21 decks)

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