business term 2 keyterms

yes

objective

a statement of a specific target to be achieved by the business

stakeholder

an individual or a group that has an interest in a business because they are affected by the business’s activities and decisions

job description

a document that contains the job title and a list of key points about a job, key duties, responsibilities and accountability

person specification

a list of qualifications, skills, experience and personal qualities looked for in a successful applicant

cirriculum vitae (CV)

a document that outlines the details of education qualifications and work experience of a potential employee which can be sent to an employer when applying for a job

reference

a trusted person that agress to comment on an applicant’s previous work, skills and qualities

internal recruitment

filling a vacant position that already has someone employed in the business

external recruitment

filling a vacant position with someone that isnt already employed in the business

induction training

a new training programme that helps new employees to become familiar with their work environment, the people they will work with and the procedures they need to follow

on the job training

training at the place of work, watching or following an experienced employee

off the job training

a training that takes place far away from the workplace and the day to day duties of the job that the employee does

organisation structure

an organisation chart that denotes the number of levels of responsibility in an organisational structure

hierarchy

the number of levels of responsibility in an organisational structure

chain of command

the way in which authority and instructions are passed down through an organisation.

span of control

the number of subordinates that a manager is responsible for

flexible working

an agreement between employer and employee that allows the employee to change when, where and for how long they work to suit them

flexible hours

this allows employees to adjust when, where and for how long they work each day to suit their needs or personal situations.

homeworking

the business allows employees to work from home instead of working at the office

delegation

when a manager gives authority to a subordinate to carry out specific tasks and decisions

autocratic leadership

a leadership style where the leader makes all the decisions without any input from employees

democratic leadership

a leadership where employees are involved in the decision making process

laissez-faire leadership

a leadership style where most of the decisions are left to the employees to make with limited or no input from managers

redundancy

ending of employment by the employer because the job is no longer needed

trade union

a group of employees who join together to protect the interests of its members

communication barrier

something that stops a message from being sent, received or understood clearly