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Management Terms 7
Management Unit 7 Terms
| Question | Answer |
|---|---|
| Bonus | bonus paid at the end of a specific period of time for performance that exceeds the expected standard |
| Cafeteria plan | a benefit program in which employees can select the benefits that meet their personal needs |
| Career development | a program that matches the career planning of employees with the employment needs of businesses |
| Career path | a progression of related jobs with increasing skill requirements and responsibility |
| Career plan | identifies the jobs that are a part of the employee’s career path, the training and development needed to advance along the career path, and a tentative schedule for the plan’s activities |
| Compensation | the money or other benefits people receive for work |
| Cross training | employees are trained to perform more than one job in the company even though they typically perform only one |
| Discharge | the release of an employee from the company due to inappropriate work behavior |
| Employee benefits | all forms of compensation and services the company provides to employees in addition to salaries and wages |
| Employee turnover | the rate at which people enter and leave employment in a business during a year |
| Exit interview | a formal interview with an employee who is leaving a company to determine the person’s attitudes and feelings about the company’s policies and procedures, management, and operations |
| Flextime | a plan that lets employees choose their own work hours, within specifies limits |
| Human resource management | all activities involved with acquiring, developing, and compensating the people who do the company’s work |
| Job description | a list of basic tasks that make up a job |
| Job design | the kind of work and the way the work is organized |
| Job enlargement | making a job more interesting by adding variety to the tasks |
| Job enrichment | encouraging employee participation in decision making |
| Job security | the likelihood that employment will not be terminated |
| Job sharing | an employment plan that allows two people to share one full-time job |
| Job specification | a list of the qualifications a worker needs to do a job |
| Layoff | a temporary or permanent reduction in the umber of employees resulting from a change in business conditions |
| Organizational development | carefully planned changes in the structure and operation of a business so it can adjust successfully to the competitive environment |
| Pension plan | a company sponsored retirement plan that makes regular payments to employees after retirement |
| Performance review | the process of assessing how well employees are doing their jobs |
| Performance standards | specific statements of the expected results from critical business activities |
| Portfolio | an organized collection of information and materials that represents a person’s accomplishments |
| Profit-sharing plan | a benefit plan that pays employees a small percentage of the company’s profits at the end of the year |
| Promotion | (1) providing information to consumers that will assist them in making a decision to purchase a product or service (2) the advancement of an employee within a company to a position with more authority and responsibility |
| Salary | compensation paid on other than an hourly basis, such as weekly or monthly |
| Transfer | the assignment of an employee to another job in the company that involves the same type of responsibility and authority |
| Wage | compensation paid on an hourly basis |
Created by:
KIMBRIEL
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