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| the exchange of goods and/or services in order to make a profit |
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| the trading of goods and/or services / no money changing hands |
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| (revenues - expenses) - taxes = |
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| money / financial resources / wealth |
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| the things a business owns in order to operate and function / physical assets |
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| risk taker, uses own money and ideas to start or revitalize a business |
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| business policy that informs and promotes qualified employees concerning positions / opportunities within the organization |
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| non-monetary payments to the employee / insurance |
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| written statement identifying the responsibilities, duties, and/or tasks associated with a specific position |
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| annual feedback from immediate supervisor / organization regarding your performance on-the-job / reward system |
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| employees rotate through various positions to promote cross-training, understanding the entire organization and to combat burnout, mostly used for training nowadays / used for training mostly |
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| variable 8 hour work schedule regarding start / stop times |
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| 40 hour work week in less than five days working for 10 hour days...4/40 |
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| financial compensation usually expressed in dollar per hour amount |
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| financial compensation usually expressed in annual amount |
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| position does not require over-time be paid after 40 hrs. of work |
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| position requires over-time pay after 40 hrs. of work |
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| employee is paid in time rather than in money / compensation |
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| dollar amount allocated per day for business expenses / travel |
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| performance management systems (PMS) |
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| how employees are evaluated |
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| management by objectives (MBO) |
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| employee stock option (ownership) plan |
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| established employee who acts as a guide / counselor to a new hire |
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| self-managed / little supervision/independent decision making |
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| online orientation programs and document completion, etc. |
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| reward system where raises are merited and connected to employee's performance evaluation |
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| company's purpose, values, direction, costumers, and marketplace / goals and philosophy of organization / employees' focal point |
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| affirmative action programs |
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| organizational programs whose purpose is to eliminate barriers against and increase employment opportunities for underutilized or disadvantage individuals |
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Term
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Definition
| mock work environments that require role playing as part of the participant's employment screening and evaluation |
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Term
| equal employment opportunity commission (EEOC) |
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| agency established to enforce federal laws regulating employment practices |
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| trend to redesign organizations to include fewer middle managers, reducing the organizational structure to an appropriate size |
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| making significant improvements, breaking away from out-dated rules and assumptions, a complete rethinking of operations...to integrate computerized production and information systems |
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| contracting out a function or task to be performed by another organization/business, cost effective for smaller organizations |
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| organizational policy that states the employment arrangement can/or could be terminated by either party at any time |
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| social security/retirement, unemployment, workers' compensation, FMLA |
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| requires employers to provide certain employees, and family members with continues health insurance at group rates |
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