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IB Business Management Definitions > Unit 2: Human Resource Management > Flashcards

Unit 2: Human Resource Management Flashcards

1
Q

Human Resource Management

A

Includes recruitment and retention, setting compensation and benefits, and specifying job responsibilities

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2
Q

Demographic Change

A

Shifts in demographic factors, such as birth rates, death rates, education levels, etc.

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3
Q

Labour Mobility

A

The ability of workers to move occupationally or geographically
How easily workers can change their place or type of work

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4
Q

Immigration

A

International movement of people into countries where they are not citizens
Specifically seek permanent residency in the new country

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5
Q

Flexi-Time

A

Flexible work schedule that allows workers to adjust the start and finishing times of their workday
Gives flexibility to meet other requirements, such as child care

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6
Q

Gig Economy

A

An economy where many positions are temporary
Organisations hire independent workers for short-term commitments

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7
Q

Hierarchy

A

A system organising or ranking people according to power or importance

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7
Q

Organisational Chart

A

Depicts the reporting relationships within an organisation
Shows who reports to whom down to the least senior level of employees in the organisation

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7
Q

Chain of Command

A

The official hierarchy in an organisation
Indicates who reports to which manager and which manager has authority over specific employees

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8
Q

Span of Control

A

The number of people reporting to a specific manager
Wide span of control mans many people reporting to the manager
Narrow span of control means a small number of people reporting to the manager

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9
Q

Delegation

A

Assigning authority or responsibility to someone lower on the organisational chart
Manager remains accountable for the successful completion of the delegated tasks

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10
Q

Bureaucracy

A

Refers to an organisation with multiple levels of authority
Bureaucracies often have complex approval processes, slowing down decision-making

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11
Q

Centralisation

A

When personnel at the main or central office of the business have the authority for decision-making
Entire business implements it
Centralisation can occur when senior management retains all key decision-making functions for themselves and delegate little or no decision-making authority to others

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12
Q

Decentralisation

A

Decision-making authority is delegated out to offices from the main or central office
Managers in regional offices have authority for making tactical and operational decisions

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13
Q

Delayering

A

The process of removing levels of hierarchy in an organisation
Aim is usually to improve a business’ efficiency by making it less bureaucratic

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14
Q

Matrix Structure

A

Typically exists in contexts where projects and project completion require involvement from people with different expertise from different areas of the organisation
People who work in teams and report to managers with different expertise
May need to report to more than one person when doing their job

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15
Q

Project-Based Organisation (HL)

A

Similarly to a matrix structure, organises work into projects
Create temporary systems for carrying out different projects

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16
Q

Shamrock Organisation (HL)

A

Based on the work of Charles Handy, modelled on a shamrock (3-leaf-clover)
Organisational structure with 3 types of employees:
Full-time professional core
Flexible labour force
Contractual group

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17
Q

Management

A

Ongoing process of planning, organising, commanding, coordinating and controlling the input resources of an organisation
Aim of efficiently and effectively reaching the business’ goals

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18
Q

Leadership

A

Process of motivating a group or team of people to work towards the goals of a business
“Art” instead of a science
Intangible ability to inspire, lead, coerce or charm through charisma or other intellectual qualities

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19
Q

Autocratic Leadership

A

When the leader concentrates all or most decision-making in their own hands
Autocratic leaders typically do not seek input from others

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20
Q

Paternalistic Leadership

A

When the head of an organisation treats employees like they are part of their family
Typically warm and protective of employees, but also expects loyalty and obedience

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21
Q

Democratic Leadership

A

When the leader regularly seeks input from employees and involves them in decision-making

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22
Q

Intrinsic Motivation

A

Motivation which comes from the satisfaction of carrying out a particular activity
No external reward is required

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23
Q

Laissez-Faire Leadership

A

When the leader of an organisation gives employees considerable freedom to make decisions on their own

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24
Q

Situational Leadership

A

When leaders adapt their leadership style to the nature of the situation, task or work; and the ability and expectations of the people in the organisation

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25
Q

Extrinsic Motivation

A

Motivation which is derived from external factors
In a business context, typically money

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26
Q

Internal Recruitment (HL)

A

When a position becomes available at an organisation and the organisation recruits someone who is already working there

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26
Q

Labour Turnover (HL)

A

The percentage of employees who leave a company during a fixed period of time
Calculated by the ration of the number of an organisation’s employees who leave to the tidal number of employees during that period

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27
Q

Induction

A

Training that focuses on making a new employee familiar with the way the business functions and the lines of authority
Process includes welcoming new employees and providing training about company procedures and expectations

27
Q

External Recruitment (HL)

A

When an organisation recruits employees who are not presently employed at the business

28
Q

Formative Appraisal (HL)

A

Occurs during training or work of employees
It is ongoing, continuous and intended to improve employee performance

29
Q

On-the-Job Training

A

Involves training employees at tier place of employment during normal working hours
Usually proceeds through mentoring or shadowing

30
Q

Off-the-Job Training

A

Involves employees receiving training offsite
The company typically pays for the tuition, which is usually provided by outside parties

31
Q

Summative Appraisal (HL)

A

Occurs at the end of the training or a fixed time during a year
Formal, documented evaluation of employees; intended to measure their performance

32
Q

360-Degree Feedback (HL)

A

Occurs when an employee receives input from peers, customers, their supervisor, and others with whom the employee interacts
Comprehensive and expensive, thus often only provided to senior management

33
Q

Self-Appraisal (HL)

A

Occurs when an employee evaluates their own performance
Part of formative or summative evaluation

34
Q

Financial Rewards

A

Rewards that an employer gives to employees, typically as part of an extrinsic motivation scheme, that have a specific monetary value

35
Q

Salary

A

Fixed, regular compensation paid to employees on a periodic basis (bi-weekly/monthly)
Typically paid to white-collar workers

36
Q

Wage

A

Monetary compensation paid by employees to workers either on a time basis or piece basis
Typically paid to blue-collar workers

37
Q

Commission

A

Payment to an employee when they complete a sale
Usually a percentage of the sales value

38
Q

Performance-Based Pay

A

Compensation based upon performance of an individual or the entire company
When company goals are exceeded, employees receive compensation in addition to their regular wages or salary

39
Q

Employee Share Ownership Scheme

A

Award employees shares in the company
Permit employees to purchase shares of the company below market value
Matches employees’ purchase of shares

40
Q

Fringe Benefits

A

Forms of compensation that an employee receives other than their salary
Insurance, company car

41
Q

Non-Financial Rewards

A

Rewards that an employer gives to employees, typically as part of an extrinsic motivation scheme, which do not have precise monetary value
Nonetheless valued by employees

42
Q

Job Rotation

A

Occurs when employees rotate positions in an organisation, from one division to another

43
Q

Job Enrichment

A

When an employee is given additional tasks that are challenging and usually done by managers
Extra tasks lead to professional growth and improve motivation

44
Q

Job Enlargmenet

A

Occurs when additional tasks associated with a job are added to the job description
Additional tasks do not necessary require additional skill or are more difficult

45
Q

Empowerment

A

Involves giving individuals access to resources and information to do their jobs and give them power to make decisions

46
Q

Sense of Purpose

A

Refers to the ability of businesses to connect employees to the aims of the organisation other than profit

47
Q

Teamwork

A

Involves working cooperatively within a group of people to achieve a common goal

48
Q

Culture (HL)

A

Achievements, arts, attitudes, customs, norms, social institutions and values of a social group

49
Q

Organisational Culture (HL)

A

Similar to corporate culture
An organisation’s culture will often reflect some of the cultural practices of its host country
Two organisations operating within the same country could also have different cultures

50
Q

Power Culture (HL)

A

Exists when a few individuals retain the essential power in an organisation
Have few roles and procedures
Decision-making tends to be swift

51
Q

Role Culture (HL)

A

Exists when employees have clearly defined roles and operate in a highly controlled and precise organisational structure
Usually hierarchical bureaucracies

52
Q

Task Culture (HL)

A

Exists when organisational culture focuses on specific problems
Power shifts from person to person as different people are better suited for certain tasks or issues

52
Q

Person Culture (HL)

A

Exists when individuals believe themselves to be superior to the organisation
Some professional partnerships such as architecture can be predominantly person cultures

52
Q

Culture Clash (HL)

A

When two different cultures come into conflict
Occurs in a business setting when one organisation has to work with another organisation due to inorganic growth and the two organisations have very different cultures

53
Q

Formal Communication

A

Refers to the official and formally recognized methods of communication in an organisation
Often documented
Verbal:
Interviews
Meetings
Presentations
Recorded phone calls
Visual:
Presentations
Maps
Notice boards
Videos
Sign language
Written:
Formal E-mails
Reports
Memos
Letters
Press releases

54
Q

Informal Communication

A

Refers to the various ways in which information is casually disseminated
Verbal:
Face-to-face communication
Gossiping
Unrecorded phone calls
Visual:
Body language
Gestures
Written:
Informal E-mails
Texts
Blogs

55
Q

Barriers to Communication

A

Various impediments that prevent communication form happening when and how it should
Linguistic
Psychological
Structural
Communication styles
Conflict
Cultural differences and language
DIssatisfaction or disinterest
Inability to listen to others
Lack of transparency/trust

56
Q

Conflict in the Workplace (HL)

A

Conflict between management and organised groups of workers
Typically over pay, benefits and control of the work

56
Q

Collective Bargaining (HL)

A

When employees of an organisation work together when bargaining with management about wages and work conditions
Typically occurs at businesses where employees are unionised and union representatives assist with the bargaining process

56
Q

Work-to-Rule (HL)

A

When employees precisely follow the rules of their existing contract
Do the minimum required
Deliberately slows down work or decreases productivity

57
Q

Strike Action (HL)

A

When workers stop working because they are dissatisfied with the conditions or compensation
Work stoppage provides leverage against the employer to discuss pay

58
Q

Threats of Redundancies (HL)

A

When management threatens to eliminate employment positions if workers do not accept terms in an industrial dispute
When positions are made redundant, the workers filling them would lose their jobs

59
Q

Changes of Contract (HL)

A

When an employer threatens to make certain changes to an employment contract, giving them some bargaining power over employees
Only possible in less developed countries

60
Q

Lockups (HL)

A

When management locks up the company or factories, preventing workers from entering them
Workers no longer receive any pay, escalating the dispute

61
Q

Closure (HL)

A

Permanent or temporary shutting down of a factory, plant or office.
Only effective in countries without stipulating legal conditions and consequences of closure

62
Q

Conciliation (HL)

A

Occurs when a third party conciliator mediates between management and labour
Offers ideas that may help both sides reach an agreement

63
Q

Arbitration (HL)

A

Occurs when a third-party arbitrator mediates between management and labour
Has the authority to decide how the conflict will be resolved

64
Q

No-Strike Agreement (HL)

A

Stipulation in the collective bargaining agreement that, during the lifetime of the contract, workers will not go on strike
Agreed upon in exchange for some concessions from management

64
Q

Single-Union Agreement (HL)

A

Workers agree that one union will represent the worker’s interests
Allows for a greater degree of coordination in collective bargaining procedures

IB Business Management Definitions (6 decks)

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