Managaing People Flashcards
(11 cards)
What are entrepreneurial characteristics?
- creativity
- resilience
- initiative
- risk-taking
- hard working
- leader-ship
What are entrepreneurial skills?
- communication
- team working
- problem solving
- organisation
- innovation
What is innovation?
Successfully coming up with new ideas
What is productivity?
The ratio between output and input
What is the calculation for productivity?
Output / input
What are motivators?
Something that provides enthusiasm to do something.
What are examples of motivators?
- flexibility
- pays and benefits
- working conditions
- career advancement
- job security
- work itself
What are the advantages of motivators?
- higher levels of performance
- less labour turnover
- improve well- being
What are disadvantages of motivators?
- may lead to competition
- problems can arise if employees only reliant on rewards for work
What is a private limited company?
Company’s shares are not available to the public. Has limited liability meaning it is responsible for its debts only to the amount of money they have invested.
What is a public limited company?
A business that is owned by shareholders and managed by directors. Members of the public can purchase stock.
