Mr Lawson 21-24

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  • Created by: Shonibub
  • Created on: 31-03-14 11:58
Hierachy
the authority that is arranged from most important to least important figure in a firm
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Layers
refers to the different jobs, the levels of responsibility
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subordinate
someone directly below someone of authority
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delegate
to pass responsibilty onto a subordinate
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span of control
amount of employees they have DIRECT CONTROL over
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Tall structure
has 5 or more layers
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flat structure
has 4 or less layers
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centralised
all decisions are made by senior managment quaters
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decentralised
decisions are delegated to individual departments
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on the job training
training in the work place
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off the job training
training outside of the work place
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delayering
getting rid of a layer in an organisation chart
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person specification
written by the business, list of qualifications and skills they are expected to have
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workforce performance
methods of measuring the effectiveness of employees including labour productivity, staff turnover and absenteeism
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labour turnover
the % of the workforce that leave within a given time period . voluntary or involuntary
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labour productivity
contribution made by workers
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absenteeism
the number of working days lost as a result of employee absense at work
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piece-rate
employees are paid according to the quantity they produce
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commision
% being paid on the worker based on how much they sell
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fringe benefits
rewards recieved by employees in addition to their wages and salary e.g company cars
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Profit sharing
employees recieved some of the businesses profits e.g waitrose
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quality related bonus
extra money given to the employees based on the standard of the product/service
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Marketing
identifying and meeting customers wants and needs
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niche marketing
meeting the needs of a relatively small number of potential customers
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mass marketing
meeting the needs of a very large no. of potential customers
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consumer marketing
creating and delivering prodcuts to solve a customers needs
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The marketing mix
price, place, packaging, product, people, promotion
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PR
increasing the company's awareness with the public without using media
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promotional mix
the combination of promotional activities which makes up a campaign to communicate with a target market influenced by: cost, competition, target market, the product and market conditions
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skimming/premium
setting high prices because there is high demand
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penetration prices
low prices to get into the competitve market
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price leaders
if they have a high market share , they can set the benchmark high
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price takers
they follow the competition
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job description
what you do in the job written by the employer to the employee
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product mix/eportfolio
a full range of products offered by a business
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product mix / eportfolio analysis
analysising the existing product mix to help to develop a balanced range of goods and services
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destribution channel
describes how the ownership of a product moves from the producer to the customer
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loss leaders
products sold at a loss to generate business for other more profitable products sold by the firm
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psychological pricing
products that are sold at proces intented to create a particular impression of the product £49.99
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perfectly inelastic = 0
demand does not change at all when price changes
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inelastic= 0-1
demand hardly changes when price changes
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elastic = 1+
price effects demand
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Other cards in this set

Card 2

Front

refers to the different jobs, the levels of responsibility

Back

Layers

Card 3

Front

someone directly below someone of authority

Back

Preview of the back of card 3

Card 4

Front

to pass responsibilty onto a subordinate

Back

Preview of the back of card 4

Card 5

Front

amount of employees they have DIRECT CONTROL over

Back

Preview of the back of card 5
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