Chapter 4-6 Flashcards
(27 cards)
What is an objective
a statement of a specific target to be achieved. It should be SMART
what is Market Share
the revenue of a business expressed as a percentage of total market revenue
what is Corporate Social Responsibility
businesses taking responsibility for the impact their activities might have on society and the environment
what is a pressure group
a group of like-minded people that puts pressure on businesses and gov. to change their policies to reach a predetermeind objective
what is social enterprise
a business with social objectives that reinvest most of its profits back into the business or into benefiting society at large
what is a stakeholder
an individual or group which has an interest in a business because they are affected by its activities and decisions_Ç
motivation
the factors that influence the behaviour of employees towards achieving set business goals.
labour productivity
a measure of the efficiency of employees by calculating the output per employe
labour turnover
the rate at which employees leave a buisness
Abstenteeism
employees non - attendance at work without good reason
the therohy of the economic man
the view that humans are motivated only by money
piece - rate
paying employees for each unit produced
Hygiene factors
the factors that must be present in the wrokplace to prevent job desatisfaction
motivation
the factors that influence a person to increase their efforts
commistion
a payment to sales saff based om the value of the items they sell
fringe benefits
non-cash rewards often used to recruit or retain employees and to recognise the status of certain employees
job rotation
increasing variety in the workforce by allowing employees to switch from one task to another
job enlargment
increasing or widening tasks to increase variety for employees
job enrichment
organsing work so that employees are encouraged to use their full abilities
quality circles
groups of employees meet reg. to discus work probs.
delegation
passing responsiblity to perform tasks to employees lower down in the organisation
sole trader
a buisness that is owned by just one person who tkes all the risk and recives all of the profit
partnership
a business formed by two or more people who will usually share resposiblityyy for the day-to-day running of the business. parnters usually invest capital in the business and will share profit
uncorporated business
a buisness that does not have lega identity seperate from its owners. the owners have unlimited liability for business debts.
