Business Concepts Review: Motivation, Engagement, and Company Structures

Flashcards covering key definitions of motivation and employee engagement, as well as the characteristics of public and private limited companies.

According to the notes, what are the benefits for a company like Pret A Manger when investing in recruitment and selection processes?

It guarantees a high level of customer loyalty, a positive brand image, and a strong reputation, helping them differentiate in a competitive market.

What is the definition of 'motivation'?

The desire and energy to be continually interested and committed to a job, role or subject, or to try to attain a particular goal.

How is 'employee engagement' described?

How much employees participate within the business, feeling positive about doing a good job, thinking hard about how to do it better, and actively taking opportunities to discuss work-related improvements.

What are the characteristics of a public limited company?

It has limited liability, shares sold on the stock market, is incorporated (legal difference between business and owners), may be at risk of takeover, and requires more detailed disclosure of financial information.

What are the characteristics of a private limited company?

It has limited liability, shares sold privately to friends and family, is incorporated, usually has one or a few shareholders, and often has a minimum share capital of £50,000.

What are the benefits to a business of having motivated employees?

Higher staff retention, higher morale, engaged employees, lower staff turnover, lower absenteeism, lower unit costs, higher levels of productivity and innovative ideas