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Intro to Business-Chapter 8- Human Resources, Culture, and Diversity

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Workforce
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Made up of all the people 16 years and older who are employed or looking for a job.
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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 maje the business more efficient.
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Outsourcing
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Removes work from one company and sends it to another company that can complete it at a lower cost.
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Job Analysis
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A specific study of a job to identify in detail the job duties and skill requirements.
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Compensation
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The amount of money paid to an emplyee for work performed.
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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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Benefits
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Compenstion in forms other than direct payment. (ex. Insurance, vacations, retirement plans, and health and fitness programs)
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Incentive Systems
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Connect the amount of compensation to the quality or quantity of an employee’s performance.
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Promotion
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The advancement of an employee to a position with greater responsibility.
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Transfer
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The assignment of an employee to another job in the company with a similar level of responsibility.
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Termination
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Ends the employment relationship between a company and an employee.
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Organizational Culture
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The environment in which people work, made up of the atmosphere, behaviors, beliefs, and relationships.
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Work Environment
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The physical condtions and the psychological atmosphere in which the employees work.
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Labor Union
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An organized group of employees who negotiate with employers about issuses, such as wages and working conditions.
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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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Glass Ceiling
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An artifical limit placed on minority groups moving into postions of authority and decision-making.
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Occupational Outlook Handbook
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Offers up-to-date information about the U.S. workforce.
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Service-producing industries
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Businesses that perform services that satisfy the needs of other businesses and consumers.
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Goods-producing industries
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Businesses that produce or manufacture products used by other businesses or purchased by final consumers.
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White-collar worker
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A worker whose work is more mental than physical and involved the handling and processing of information.
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Blue-collar worker
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A worker whose job involves a great deal of manual work, including the operation of machinery and equipment or other production activities.
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Technology
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refers to the use of automated machinery, electronic equipment, and integrated computer systems to help increase the efficiency of producing goods and services.
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Human Resources
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People who work for a business, includes management and employees, full-time and part-time workers.
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Planning and Staffing
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Identifying and filling all of the jobs in the company with qualified people.
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Performance management
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involved evaluating the work of employees and improving performance through training and development.
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Compensation and benefits
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Responsible for planning and managing payroll, personnel records, and benefits programs.
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Employee Relations
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Responsible for maintaining a safe, healthy, and productive work environment for all employees
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Permanent Employee
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One to whom the company makes a long-term commitment.
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Temporary Employee
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One hired for a specific time or to complete a specific assignment
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Full-time Employee
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Regularly works a schedule of 30 hours or more a week.
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Part-time Employee
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Has a shorter work schedule with either fewer hours each day or fewer days each week
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Time wage
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Pays the employee a specific amount of money for each hour worked
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Straight Salary
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Pays a specific amount of money for each week or month worked
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Piece Rate
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Receives a specific amount for each unit of worked produced.
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Base Plus Incentive
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Combines a wage or salary with an additional amount based on the employee’s performance
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Cafeteria Plan
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allocates a certain amount of money to each employee that can be spent on benefits.
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Discharge
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Ends employment due to inappropriate work behavior.
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Layoff
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A temporary or permanent reduction in the number of employees due to changing business conditions
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Personal Time
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A few hours each month that can be scheduled for non-job activities.
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Family Leave
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Allows employees to take a leave of absence for the birth or adoption of a child, to care for sick family, or for other personal emergencies
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Flextime
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Allows employees some choice in how their work days and work house are arranged
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Job Sharing
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offers one job to two people
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Flexplace
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means that some employees can complete part or all of their work away from the business site
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Collective Bargaining
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Formal negotiation between members of both groups
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What are the benefits of Diversity?
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Organizational Benefits: 1.) Prospective employees and managers are drawn from the broadest possible employment pool. 2.) The company will have a broader base of knowledge and understanding when making decisions. 3.) Prospective customers will have a more positive image of the company 4.) The company will be better at serving diverse markets 5.) Global business strategies will improve Individual Benefits: 1.) Each employee will have the opportunity to develop to their full ability 2.) Individuals will feel they are respected and supported despite their differences Social Benefits: 1.) Prejudice and discrimination will be reduced as a societal problem 2.) The country has a more talented, experienced, economically successful workforce