AQA BUSS2 key terms

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PRODUCTIVITY is a measurement of a firm's efficiency by measuring outputs in relation to inputs.
LABOUR PRODUCTIVITY is a measure of the output per worker over a given time period
LABOUR TURNOVER is the proportion of employees leaving a business in a given time period
ABSENTEEISM is the proportion of employees not at work on a given day
ORGANISATION STRUCTURE is a formal and systematic way the management of a business is organised
LEVELS OF HEIRACHY is the number of layers of authority within the business
CHAINS OF COMMAND are lines of communication that exist within a business
DELEGATION is the passing of authority not responsibility down the organisational structure
ORGANISATION HEIRACHY is the Verticle division of authority and accountability in an organisation
SPAN OF CONTROL is the number of employees (or subordinates) that individuals are directly responsible for
RECRUITMENT is the process of filling a job vacancy
TRAINING is a provision of work related education
JOB DESCRIPTION is a document that outlines the duties and responsibilities associated with a particular
PERSON SPECIFICATION is a document that outlines the qualifications, skills and other qualities required in
order to carry out a particular job successfully
INTERNAL RECRUITMENT is the filling of a job vacancy by selecting someone form within the organisation
EXTERNAL RECRUITMENT is the filling of a job vacancy from someone outside of the firm
SELECTION TECHNIQUES are the processes used by an organisation to ensure they chose the most
appropriate candidate possible
APTITUDE TESTS are a measurement of the level of ability of a candidate
PYSCHOMETRIC TESTING is an examination of personality and attitudes
ASSESSMENT CENTRES/GROUP ASSESSMENT is a more in depth assessment of a candidate's ability by
subjecting them to a real life situation.
ON THE JOB TRAINING is where the employee receives instruction whilst carrying out their job at the
OFF THE JOB TRAINING is where employees leave their workplace is order to receive instruction or training.
MOTIVATION is the will to work
PIECE RATE is paying a worker per item they produce over a period of time (Taylor)
FRINGE BENEFITS are items that an employee receives in addition to their normal wage or salary
PERFORMANCE RELATED PAY is paid to employees who meet certain targets
PROFIT SHARING is a system whereby employees receive a proportion of the company's profits, this means
that the staff are in the same position as the shareholders
SHARE OWNERSHIP is where senior managers are given shares in the company rather than a bonus
JOB ENRICHMENT means giving employees more interesting and challenging tasks to complete
JOB ENLARGEMENT means giving workers more tasks to do of a similar nature or complexity.
JOB ROTATION is a part of job enlargement and involves having a wider variety of tasks to do
TEAMWORKING is where employees work in groups or teams
EMPOWERMENT is when power or authority is given to employees so they can make more decisions
regarding their working life
DIVISION OF LABOUR is subdividing a job into small, repetitive fragments of work
GROUP NORMS are types of behaviour and attitudes seen as normal within a group
JOB SATISFACTION is a sense of wellbeing and achievement that stems from a satisfying job
BUDGET is a financial plan for income and expenditure
INCOME BUDGET is a financial plan for sales revenue
EXPENDITURE BUDGET is a forecast for items of expenditure
PROFIT BUDGET forecast of expected profit, income budget ­ expenditure budget
VARIANCE ANALYSIS explains the difference between budget and actual income
PROFITBAILITY is the ability of a business to make a profit
PRICE ELASTICITY is how sensitive consumers are to price change

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INELASTIC means that the consumer is insensitive to price change
ELASTIC means that the consumer is sensitive to price change
COMPETITIVENESS is the ability of a business to succeed in its own market
OLIGOPOLISTIC is a market in which a few companies have a dominant share
MONOPOLY is a market in which there is one dominant business
PSYCOLOGICAL PRICING is where prices are set so that it seems they are lower to the customer without
LOSS LEADERS is where prices are set so low…read more

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BS 5750 A british standards award granted to organisations that possess quality assurance systems that
meet the standards set.
ISO 9000 The international standard of quality assurance that is equivalent to the BS 5750.
CUSTOMER SERVICE Identifying and satisfying customer needs and delivering a level of service that meets
or exceeds customer expectations.…read more


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