business chap 11 key terms 0.0 / 5 ? BusinessMotivationASCIE Created by: ngaelsaCreated on: 12-04-17 14:18 Motivation the internal and external factors that stimulate people to take action that leads to achieving a goal 1 of 21 Time-based wage rate payment to a worker for each period of time worked. ex:hour 2 of 21 Piece rate payment to a worker for each unit produced 3 of 21 Commission payment to a sales person for each sale made 4 of 21 Salary annual income that is usually paid on a monthly basis 5 of 21 Bonus payment made in addition contracted wage or salary for meeting certain criteria 6 of 21 Performance-related pay a bonus scheme to reward staff for above average work performance 7 of 21 Profit sharing a bonus for staff based on profits of a business, usually paid as a proportion to a basic salary 8 of 21 Fringe benefit Benefits given, separate from pay, from employer to employee. Ex: free health consultation, free gym membership 9 of 21 Share ownership business offer the posibility of purchasing share in a company 10 of 21 Job rotation increasing the flexibility of employee and the variety of work they do by switching from one job to another 11 of 21 Job enrichment employees are given greater responsibilities by increasing the range and complexity of task, more decision-making given 12 of 21 Job enlargment attempting to increase the scope of a job by broadening or deepening the tasks undertaken 13 of 21 Job redesign involves the restructuring of a job, usually with worker's involvement and agreement to make work more interesting, satisfying, challenging 14 of 21 Quality circles groups of workers meet regularly to discuss work-related problems and issues 15 of 21 Worker participation workers are actively encouraged to become involved in decision-making within the organisation 16 of 21 Team-working production is organised so that groups of workers undertake complete units of work 17 of 21 Target setting setting goals and objectives for workers 18 of 21 Training work-related education to increase the workforce skill and efficiency 19 of 21 Empowerment giving workers the responsibilities and freedom to choose how they complete task 20 of 21 Delegation passing authorities down organizational hierarchy 21 of 21
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