2.02 Business Management I Questions and Answers ( Graded A)

2.02 Business Management I Questions and Answers ( Graded A) Benefits - ANSAdvantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance) Commission - ANSA percentage of the total sale amount paid to the individual or business that makes the sale Compensation - ANSPay or wages for work completed Continuous - ANSOngoing; without stopping Controlling - ANSThe management function that monitors the work effort Dimension - ANSAspect; feature Directing - ANSThe management function of providing guidance to workers and work projects Dynamic - ANSChanging; changeable Human resources - ANSPeople who work to produce goods and services Job description - ANSExplanation of responsibilities and tasks associated with a specific job Job specification - ANSExplanation of the skills, knowledge, and characteristics required for a job Mission - ANSThe business or organization's purpose for existing Morale - ANSThe state of a person's attitude or outlook on life that affects his/her approach to work Negotiation - ANSThe process of one party reaching an agreement with another party to meet specific needs or wants Obsolete - ANSOutdated; useless Onboarding - ANSStaffing tasks that must be performed when a new employee joins the company (e.g., orientation and paperwork) Organizational culture - ANSThe customs, traditions, and habits of employees working together at a particular firm Organizational structure - ANSThe company's configuration of employees for accomplishing specific business tasks; how the business is organized Organizing - ANSThe management function of setting up the way the business's work will be done Philosophy - ANSThe combination of principles, attitudes, or beliefs held by individuals or organizations that influence their behavior Planning - ANSThe management function of deciding what will be done and how it will be accomplished Recruiting - ANSSeeking out and attracting qualified potential employees Retain - ANSKeep Staffing - ANSThe management function of finding, training, and compensating workers for the business Telecommute - ANSTo work from home or somewhere other than the office Vision - ANSThe future a business or organization wants to create Workforce analysis - ANSAn assessment of an organization's current and future human resources Workload analysis - ANSAn assessment of an organization's current and future human resources need