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Unit 5: Managing the Business

Employee's rewards for service in addition to salary Benefits
Financial reward in addition to a regular wage or salary Bonus
A percentage of a sale paid to a salesperson Commission
Let other people share workloads and responsibilities Delegate
Managers giving employees authority to make decisions without supervisory approval Empower
A written statement listing the duties and reponsiblilities of a job Job description
Way of working with those whom managers supervise Management style
One employee teams up with another more experienced employee to learn a job Mentoring
Serves as the liaison between supervisory-level and top management and is responsible for implementing the goals of top Middle management
A plan that shows how the various jobs in a company relate to one another Organizational structure/chart
Employee is paid while he or she is not working; for example, vacation or sick days Paid leave
A list of people who receive salary or wage payments from a business Payroll
Payments for labor or services done on an annual basis Salaries
Work directly with the workers on the job and are responsible for implementing the plans of middle management Supervisory-level managers
Responsible for establishing the vision for a company and has the highest level of responsibility Top management
Payments for labor or services that are made on an hourly, daily, or per-unit basis Wages
Created by: myawn01



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