Business Chapter 10 Part 1 – Flashcards
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Jean's paycheck is calculated from the number of hours worked during the week times her hourly rate. What type of system is used to pay Jean?
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wage
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Which of the following links salary increases to performance levels in nonsales jobs?
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merit salary systems
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Which plan refers to compensation other than wages and salaries and other incentives offered by a firm to its workers?
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benefits
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What is the name given to an employee who is hired on something other than a permanent or full-time basis?
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contingent worker
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What is the name given to a group of individuals, working together to achieve shared job-related goals such as higher pay, shorter working hours, greater benefits, or better working conditions?
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labor union
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What is the process of dealing with employees who are represented by a union?
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labor relations
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What is the process by which union leaders and managers negotiate common terms and conditions of employment for the workers represented by unions?
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collective bargaining
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Which of the following occurs when union members agree not to buy the products of a targeted employer?
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boycott
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What term describes the situation when workers perform jobs at a less efficient pace?
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slowdown
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If negotiations fail, what can a company choose to use to prevent union employees from coming to work?
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lockout
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What occurs when a neutral third party dictates a settlement between two sides that have agreed to submit to outside judgment?
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arbitration
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Which of the following is considered the starting point of effective human resource management?
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planning
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What is the purpose of a skills inventory?
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to plan and identify people for transfer or promotion
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Plants Galore is a business selling a range of indoor plants. In the past there has been a problem with plants being stolen by staff. Which of the following represents the biggest limitation in reference checks as a reliable way of assessing the value of prospective employees?
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Reference checks tend to only tap positive recommendations.
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Which of the following types of training occurs while the employee is at his or her place of work?
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on-the-job training
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Fletcher is meeting with each of his subordinates to discuss their performance over the past year. What process is he involved in?
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performance appraisal
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What is the total package that a firm offers employees in return for their labor?
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compensation system
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What do top executives often receive as incentives?
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stock options
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A Web design company, Gen Max, is expanding rapidly and needs to hire middle managers in a climate where first to market is an imperative. Which incentive plan for these employees would best help the firm achieve its first to market goal?
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variable pay
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Which term refers to the situation in which middle managers are rewarded for especially productive output, such as for producing earnings that significantly exceed the cost of bonuses?
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pay for performance
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