Business terminology exams

Human resource planning

An analysing and forecasting of the number and skills of employees needed in a company to achieve future goals

Workforce plan

A document that shows the number and of employees required by a business in the future.

Workforce audit

A systematic analysis of the current workforce’s skills, qualifications, and numbers to identify gaps.

Flexi-time

A flexible working system that allows employees to choose their start and finish times, within agreed limits set by the employer.

Occupational mobility

The ability of workers to move between different jobs or occupations, depending on their skills, qualifications, and labour market conditions

Occupational immobility

The inability or unwillingness of workers to change jobs or occupations due to lack of skills, qualifications, or other barriers.

Geographical mobility of labour

The ability and willingness of workers to relocate to different locations to find employment.

Gig economy

A labour market where individuals work on short-term, flexible jobs or contracts, rather than permanent employment

Organisational structure

A system that defines how tasks are divided, coordinated, and supervised, and how roles and responsibilities are organized within a business.

Organizational chart

A visual diagram that shows the structure of an organization, including roles, levels of hierarchy, and authority.

Levels of hierarchy

The layers of authority and responsibility in an organization, from senior management to lower-level employees.

Chain of command

The line of authority through which instructions are passed within an organization.

Span of control

The number of subordinates a manager has directly under its supervision or control

Delegation

giving subordinates responsibility and authority to carry out tasks, while the manager retains overall accountability.

Scientific management

Relying on the use of data and systemaic analysis to improve efficiency and productivity

Intuitive management

When managers rely on experience, judgment, and instinct, rather than data.

Decision tree

A decision-making tool that uses a diagram of possible outcomes to evaluate options

Autocratic leadership style

A leadership style where the manager has full control and makes decisions independently, with little or no employee input.

Paternalistic leadership style

A leadership style where managers make decisions in the best interests of employees, acting like a parental figure.

Democratic leadership style

A leadership style where employees are involved in decision-making, with information shared between managers and staff.

Laissez-faire leadership style

A leadership style where managers give employees high levels of autonomy to make their own decisions.