IB Business 2.1, 2.2, 2.3

ageing population

demographic change that tends to occur in high income countries, with the average age of the population getting higher.

demography

the statistical study of populations characteristics, using data like birth rates, ageing population and net migration rates.

flextime

system that allows workers to have autonomy to determine when they work, so long as they complete their work.

gig economy

labour markets where workers are normally short time with freelance work and temporary contracts.

homeworking

flextime where people work from home

Human resource management

role of management in planning and developing the organization’s people. Done through training, development and recruitment.

human resource planning

management process of forecasting an organization needs.

migrant workers

people who move to new countries for better opportunity

mobility of labor

the extent to how much a worker can move to different locations or other jobs

net migration

difference between numbers of migrant workers entering a country and people leaving

portfolio workers

are those who simultaneously carry out many jobs

six change approaches

John P Kotter’s model for reducing impact and resistance to change.(education/communication, participation/involvement, facilitation/support, negotiation/agreement, manipulation/co-option, explicit/implicit coercion.

teleworking

refers to working away from home via the internet

workforce

number of workers

accountability

describes the extent to which a person is held responsible

Bureaucracy

Official administrative and formal rules of an organization that govern business activities

centralization

majority of decision making is done by small number of people

Chain of command

Formal line of authority

Decentralization

Occurs when decision making Authority and responsibilities are shared with others in the organization

Delayering

Removing levels in hierarchy to flatten organizational structure

Delegation

Empowerment of a person lower down in the organization by passing on control and decision making Authority to complete a task

A flat slash horizontal organizational structure

Few layers in a formal hierarchy so managers have wide span of control

Matrix structure

Flexible type of organizational structure of representatives from different departments temporarily working together

outsourced workers

individuals or organizations hired on a contract basis to carry out specific but non-core roles.

peripheral workers

Contingent workers consisting of part-time and temporary staff hired by the organization to provide greater flexibility

Professional core

Core workers consisting of full-time specialists who are vital for organization operations

Project based organization

Arranges human resource around particular projects each led by a project manager

shamrock organization

Charles handy's model that organizations are increasingly made up of course staff who are supported by peripheral workers and outside workers

tall organization structure

Managers have a small span of control due to many layers

laissez-faire leadership

Minimal direct input in work of employees