Business definition- people in business

Motivation

The reason why employees want to work hard and effectively for the business.

Wage

Payment for work, usually paid weekly.

Time rate

Amount paid to an employee for one hour of work.

Piece rate

Amount paid for each unit of output.

Salary

Payment for work, usually paid monthly.

Bonus

Additional payment above basic pay as a reward for good work.

Commission

Payment relating to the number of sales made.

Profit sharing

System where a proportion of company profits are paid out to employees.

Job satisfaction

Enjoyment derived from feeling that you have done a good job.

Job rotation

Workers swapping tasks for limited time and changing again.

Job enrichment

Adding tasks requiring more responsibility to jobs.

Team-working

Using groups of workers with specific tasks and responsibilities.

Training

Process of improving a worker's skills.

Promotion

Advancement of an employee in an organization.

Organizational structure

Levels of management and division of responsibilities.

Organizational chart

Diagram outlining internal management structure.

Hierarchy

Levels of management in an organization.

Chain of command

Structure allowing instructions to pass down in an organization.

Span of control

Number of subordinates under a manager.

Directors

Senior managers leading a department or division.

Line managers

Direct responsibility for people below them in the hierarchy.

Supervisors

Junior managers with direct control over employees.

Staff managers

Specialists supporting line managers.

Delegation

Giving a subordinate authority to perform tasks.

Leadership styles

Different approaches to dealing with people and making decisions.

Recruitment

Process of identifying and employing someone.

Job analysis

Identifying and recording job responsibilities and tasks.

Job description

Outlines responsibilities and duties for a specific job.

Job specification

Document outlining requirements for a specified job.

Internal recruitment

Filling a vacancy with an existing employee.

External recruitment

Filling a vacancy with a new employee.

Induction training

Introduction for new employees about the business.

On-the-job training

Training by watching experienced workers.

Off-the-job training

Training away from the workplace by specialists.

Workforce planning

Establishing the needed workforce for the future.

Dismissal

Ending employment against the will of the employee.

Redundancy

Losing a job because it is no longer needed.

Contract of employment

Legal agreement between employer and employee.

Communication

Transferring a message from sender to receiver.

Message

Information or instructions passed from sender to receiver.