Management of people and finance Flashcards
(22 cards)
what are legislation’s?
legislation’s are laws in which businesses must follow
what happens if businesses do not follow legislation’s?
if businesses do not follow legislation’s they will face legal action which could result in fines or criminal charges
what are the different types of worker?
manual worker
blue collar worker
white collar worker
professional worker
what is a manual worker?
manual workers usually do physical jobs which will not require many skills
what is a blue collar worker?
blue collar workers usually do physical jobs which require some specific skills to complete which can often be repetitive tasks
what is a white collar worker?
white collar workers usually do non-physical jobs which require several skills and qualifications
what is a professional worker?
professional workers require many skills and qualifications and their jobs will involve decision making and responsibility
what are the main stages involved in recruitment?
carry out a job analysis
prepare a job description
prepare a person specification
prepare job advertisements
what are the main stages in staff selection?
identify the best candidates
interview the best applicants
test the best applicants
collect references for the best candidates
decide on who is the best overall candidate for the job
what is induction training?
induction training is training for new staff members to make sure they know what they will be doing, what their working environment is like and who their colleagues and other staff are
what is in service training?
in service training is training that is provided for existing staff members so that they can learn new skills, update existing skills and provide a better level of product quality and customer service
what is on the job training?
on the job training takes place while the member of staff is in the business doing their ordinary work and is carried out by either existing staff or brought in trainers
what is off the job training?
off the job training takes place while the member of staff is not doing their work, and is carried out by college courses, training agencies or online / computer based training packs
how can employers motivate staff?
money job satisfaction security companionship personal development
what are the different wage systems?
salary hourly rate piece rate commission bonus profit sharing
what is job sharing?
job sharing involves (usually 2) people sharing the hours and responsibility for one full time job in the business
what is flexitime?
flexitime means that staff will have to work their contracted number of hours but will have some control about exactly when these hours will be
what is teleworking?
teleworking means that staff will be able to use IT technology to complete their work without coming into the business premises
what does condensed hours mean?
condensed hours means that staff will have to work their contracted number of hours but will be able to do them over fewer days than usual
what industrial actions can employees take?
strike picketing go slow work to rule overtime ban
what are internal factors?
finance
human resources
capital
what are external factors?
political issues economical issues social issues technology issues environmental issues competitive issues
