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VCE BUSINESS EXAM 2016 > Definitions > Flashcards

Flashcards in Definitions Deck (32)
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1

Downsizing

involves workplace staff
reductions, with the elimination of jobs
and positions.

2

Outsourcing

is the contracting of
some organisational operations to
outside suppliers.

3

Social responsibility

is the obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community as well as the environment.

4

Ethical management

refers to the process of abiding by moral standards and doing the ‘right’ thing in the interests of all stakeholders.

5

Management hierarchy

is the arrangement that provides increasing
authority at higher levels

6

Planning

is the process of setting objectives and deciding on the methods to achieve them.

7

Policy

A policy is an established set of broad guidelines to be followed by all employees
in an organisation.

8

Corporate code of conduct

is a set of ethical standards for managers and employees to uphold.

9

Productivity

is a measure of efficiency — the amount of output produced compared to the amount of input required in production.

10

Business competitiveness

refers to the ability of an organisation to sell products in a market.

11

Facilities design and layout

involves planning the layout of workspace to streamline the production process.

12

Quality

refers to the degree of excellence of goods or services and their fitness for a stated purpose.

13

Total quality management

is an ongoing, organisation-wide commitment to excellence that is applied to every aspect of the organisation’s operation.

14

A human resource manager

coordinates all the activities involved
in acquiring, developing, maintaining
and terminating employees from an
organisation’s human resources.

15

Human resource management

the effective management of the formal relationship between the employer and employees.

16

Job security

is the belief that the employee will not lose their job.

17

Motivation

refers to the individual, internal process that directs, energises and sustains a person’s behaviour.

18

Termination

when an employee leaves a particular workplace,
ending the employment relationship.

19

Redundancy

occurs when the job a person does is no longer necessary, usually due to technological changes, restructuring or a merger or acquisition.

20

Retrenchment

occurs when a business dismisses an employee because there is not enough work to justify paying
them.

21

Conciliation

occurs when a third party participates in the resolution of a dispute and attempts to help resolve the differences through discussion.

22

Arbitration

occurs when a ‘judge’ or a panel of ‘judges’ hears both arguments in a dispute in a more formal court-like setting and determines the outcome.

23

Change

is any alteration in the internal or external environments.for example, change in consumer tastes or change in employee expectations.

24

Organisational change

is the adoption of a new idea or behaviour by an organisation.

25

Driving forces

are those forces that support the change.

26

Restraining forces

are those forces that work against the change.

27

change management process

is the sequence of steps that a manager would follow for the successful implementation and adoption of change.

28

Manipulation

is the devious exertion of influence over someone to get them to do what you want.

29

Corporate social responsibility

involves managing organisational processes in order to produce an overall positive impact on the community.

30

Outsourcing

is the contracting of some organisational operations to outside suppliers.