Intro to Business Chapter 8 Vocab.
Work Environment
The physical conditions and the psychological atmosphere in which employees work
Downsizing
A planned reduction in the number of employees needed in a firm in order to reduce costs and make the business more efficient
Compensation
Amount of money paid to an employee for work performed
Diversity
As it applies to businesses and organizations, is the comprehensive inclusion of people with differences in personal characteristics and attributes
Benefits
Compensation in forms other than direct payment
Incentive Systems
Connect the amount of compensation to the quality or quantity of an employee's performance
Salary and Wages
Direct payment to an employee for work completed
Termination
Ends the employment relationship between a company and an employee
Organizational Culture
Environment in which people work, made up of the atmosphere, behaviors, beliefs, and relationships
Job Analysis
Is a specific study of a job to identify in detail the job duties and skill requirements
Labor Union
Is an organized group of employees who negotiate with employees about issues
Glass Ceiling
Is artificial limit placed on minority groups moving into potions of authority and decision-making
Promotion
Is the advancement of an employee to a potion with greater responsibility
Transfer
Is the assignment of an employee to another job in the company with a similar level of responsibility
Workforce
Made up of all the people 16 years and older who are employed or who is looking for job
Outsourcing
Removes work from one company and sends it to another company that can complete it at lower cost