principles of business 8e key terms chapter 8 – Flashcards
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benefits
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compensation in forms other than direct payment.
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compensation
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the amount of money paid to an employee for work performed , including salary and wages.
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diversity
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the comprehensive inclusion of people with differences in personal characteristics and attributes.
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downsizing
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a planned reduction in the number of employees needed in a firm in order to reduce costs and make the business more efficient.
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glass ceiling
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an artificial limit placed on minority groups moving into positions of authority and decision making.
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incentive systems
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compensation systems connected to the quality or quantity of an employees performance.
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job analysis
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specific study of a job to identify in detail the job duties and skill requirements.
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labor union
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an organized group of employees who negotiate with employers about issues, such as wages, and working conditions.
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0rganizational culture
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the environment in which people work, made up of the atmosphere , behaviors, beliefs, and relationships.
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outsourcing
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removing work from one company and sending it to another company that can complete it at a lower cost.
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promotion
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any form of communication used to inform, persuade, or remind;communication information about products and services to potential customers; the advancement of an employee to a position with greater responsibility.
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salary and wages
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direct payment of money to an employee for work completed.
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termination
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the end of an employment relationship between a company and an employee.
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transfer
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the assignment of an employm
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work environment
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the physical conditions and the psychological atmosphere in which employees work.
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workforce
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all of the people 16 years or older who are employed or who are looking for a job.
