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Ch.13 Exploring Business
Final Exam Ch. 7-14
47
Business
Undergraduate 1
11/22/2009

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Term
Human Resources
Definition
The people a company employs, from its CEO and top mangers, the middle managers throughout its functions, to its managerial employees.
Term
Human Resource Management
Definition
The set of activities desinged to recruit high-quality employees and tehn improve their skills and capabilities.
Term
Performance Appraisal
Definition
The taks of accurately identifying differences in the level and quality of the work employees do and providing them with feedback that increases their performance levels.
Term
Labor Relations
Definition
The process of working with employees, or the unions that represent them, to create work rules and a negotiation process to resolve disputes between them.
Term
Recruitment
Definition
The identifying and attracting a pool of qualified job applicants.
Term
Selection
Definition
Creating the set of job and company specific criteria that determines which job applicants are the best match for a particular job and company.
Term
Human Resource Planning
Definition
The process of forecasting the type and number of employees a company will require in the future to meet the objectives of its business model.
Term
Job Analysis
Definition
The process of obtaining detailed information about the tasks and responsibilities involved in each job in a company.
Term
Posisition Analysis Questionnaire
Definition
A written method of job analysis that asks jobholders and their managers to answer detailed questions about the skills and abilities employees needs to do a particular job.
Term
Job Description
Definition
A list of the specific tasks, duties, and responsibilities that make up a particular job.
Term
Job Specification
Definition
A written list of the required skills, abilities, and knowledge needed to do a particular job.
Term
Internal Recruitment
Definition
A policy of promoting employees who already work for a company.
Term
External Recruitment
Definition
A policy of filling advanced job posisitions with applicants from outside of a company.
Term
Training and Development
Definition
The process through which companies increase their employees work skills and knowledge to improve their job performance.
Term
Training-needs analysis
Definition
A method of identifying the kinds of employee training that will result in the greatest performance gains.
Term
Training gap
Definition
A specific type of training an employee needs to acquire.
Term
On-the-job training
Definition
Training employees receive in the course of doing their jobs.
Term
Performance Appraisal
Definition
The process of evaluating the contributors an employee has made toward a company's functional and corporate-wide goals.
Term
Performance Feedback
Definition
The communication of performance apprasial information to employees to influence their future performance.
Term
360-Degree Performance Appraisal
Definition
The process of using mulitple sources of information to appraise an employee's performance.
Term
Formal Appraisals
Definition
Appraisals conducted on a regular basis to provide employees with ongoing performance feedback.
Term
Informal Appraisals
Definition
Appraisals that take place as managers and subordinated meet from time to time to discuss important work issues.
Term
Pay
Definition
The monetary rewards, such as wages, bonuses, and salaries, associated with a particular job.
Term
Benefits
Definition
The monetary rewards, such as paid health care, life insurance, sick and vacation pay, and pensions, employees receive because they are a member of a company.
Term
Pay Structure
Definition
The relative pay and benefits recieved by employees doing different types of jobs or jobs at different levels in a company's heirarchy.
Term
Pay Level
Definition
The average salary a company chooses to pay its employees compared to other companies in its industry.
Term
Incentive Pay
Definition
The extra rewards employees receive when they achieve specific goals.
Term
Piecework Plans
Definition
Pay plans that link the pay employees recieve to the number of unit of a product an employee makes.
Term
Commission Systems
Definition
Payplans that link the pay employess receive to the amount of revenue they earn by selling a company's product.
Term
Merit Pay
Definition
A pay system that links superior performance directly to higher permanent rewards such as a certain percentage increase in salary.
Term
Bonus Pay
Definition
A one-time reward employees receive for accomplishing a specific goal.
Term
Profit Sharing Plans
Definition
Pay plans that reward employees on the basis of the profit a company earns in a particular period, usually a year.
Term
Employee Stock Ownership Plan
Definition
A plan that allows employees to buy a company's shares at below-markte prices.
Term
Organization Bonus Systems
Definition
The one-time rewards employees recieve if a company achieves cost savings, quality increases, and so on, in a specified time period.
Term
Organization Bonus Systems
Definition
The one-time rewards employees receive if a company achieves cosst savings, quality increases, and so on, in a specified time period.
Term
Labor Relations
Definition
The process of establishing rules and practices between a company and its employees that specify how human resources should be employed and rewarded.
Term
Trade Unions
Definition
Organizations that represent the interests of employees who hold similar types of jobs in a particular industry.
Term
Industrial Conflict
Definition
The clash that occurs when workers and unions attempt to obtain a greater share of a company's profits at teh expense of other stake holders.
Term
Working-to-rule
Definition
When workers perform their jobs exactly as specified in their employment contracts but do no more.
Term
Lockout
Definition
When managers decide to shut down a company's operations until workers are willing to accept the employment conditions being offered to them.
Term
Strike
Definition
A situation that arises when workers refuse to do their jobs in attempt to bring the work process to a halt.
Term
Collective Bargaining
Definition
The process through which union representatives and managers negotiate a binding labor agreement over work-related issues, such as pay, benefits, and grievance procedures.
Term
Integrative Bargaining Solution
Definition
A "win-win" solution that allows both parties to benefit from th labor contract agreed upon.
Term
Attitudinal Structuring
Definition
The attempt by negotiators on each side to influence each other's attitudes during the bargaining process.
Term
Grievance Procedures
Definition
Labor-contract rules used to resolve disputes between companies and their employees.
Term
Mediation
Definition
A conflict resolution method that involves the use of a neutral third party, or mediator, to help labor and management resolve their differences and reach an agreement.
Term
Arbitration
Definition
A conflict resolution method that involves the use of a neutral third party to negotiate and impose a binding agreement on labor and managment.
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