People in business Flashcards
(30 cards)
Motivation
Factors that influence the behaviour of workers towards achieving set business goals.
Labour productivity
A measure of the efficiency of workers by calculating the output per worker.
Piece-rate
Paying workers for each unit produced.
Hygiene factors
The factors that must be present in the workplace to prevent job dissatisfaction.
Job dissatisfaction
How unhappy and discontent a person is with their job.
Financial rewards
Cash and non-cash rewards paid to workers which are often used to motivate workers to increase their efforts.
Non financial rewards
Methods to motivate workers that do not involve giving any financial reward.
Hourly wage rate
Payment to workers based on a fixed amount for each hour worked.
Salary
Fixed annual payment to retain grades and types of staff not based on hours worked or output.
Bonus
An additional reward paid to workers for achieving targets set by managers.
Fringe benefits
Non cash rewards often used to recruit or regain workers and to recognise the status of certain employees.
Profit sharing
An additional payment to workers based on the profits of the business.
Job rotation
Increasing variety in the workplace by allowing workers to switch from one task to another.
Job enlargement
Increasing or widening tasks to increase variety for workers.
Job enrichment
Organising work so that workers are encouraged to use their film abilities.
Delegation
Passing responsibility to perform tasks to workers lower down in the organisation.
Functional departments
The main activities of business: finance, marketing, operations, human resources and research and development.
Hierarchy
The number of levels that is based on importance in an organisational structure.
Chain of command
The route through which authority is passed down through an organisation.
Span of control
The number of subordinates reporting to each supervisor/manager.
Delayering
Reducing the size of the hierarchy by removing one or more levels - most often middle management.
Centralised organisation
One where all the important decision making power is held at head office, or the centre.
Decentralised organisation
One where the decision making powers are passed down the organisation to lower levels.
Chief Executive Officer (CEO)
The most senior manager responsible for the overall performance and success of a company.
