Peak Union Bodies
Most unions are also affiliated with state bodies such as the Australian Council of Trade Unions (ACTU), which formulates and coordinates national union policies and represents union movements in court
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| Term | Definition |
|---|---|
| Peak Union Bodies | Most unions are also affiliated with state bodies such as the Australian Council of Trade Unions (ACTU), which formulates and coordinates national union policies and represents union movements in court |
| Peak Employer Bodies | Represent employer associations |
| Human Resource Managers | They deal with things like negotiating employment agreements with employees and their representatives, dealing with disputes and conflict |
| Management Strategies used to Respond to KPI's | - Staff Training - Staff Motivation - Change in Management Styles - Investment in Technology - Improving Quality - Cost Cutting - Lean Production - Redeployment of Resources - Innovation - Global Sourcing - Overseas Manufacture - Global Outsourcing |
| Differentiation Strategy | Making your products or services different from and more attractive than competitors |
| Learning Organisation | Businesses where managers and staff continually seek to expand their capacity to achieve the results they desire - Systems Thinking - Personal Mastery - Mental Modes - Building Shared Vision - Team Learning |
| Leadership | The ability to influence or motivate people towards the achievement of business objectives |
| Lower Cost Strategy | A business seeking to become the business with the lowest production costs in its industry |
| Restraining Forces | - Managers - Employees - Time - Organisational Inertia - Legislation - Financial Considerations |
| Key Performance Indicator Definition | Specific criteria used to measure the efficiency and/or effectiveness of a businesses performance |
| Proactive | Initiating change rather than simply reacting to events |
| Reactive | Waiting for change to occur and then responding to it |
| Force Field Analysis | Outlines the process of determining which forces drive and which forces resist |
| Global Outsourcing | The contracting of a specific business operation to an external person or business in another country |
| Overseas Manufacture | The production of a good in a country different to the location of the businesses headquarters |
| Global Sourcing | Seeking the most cost efficient materials and other inputs, including from countries overseas |
| Global Considerations | - Global Sourcing - Overseas Manufacture - Global Outsourcing |
| Zero Defects | All about the business striving for perfection, errors or defects need to be identified |
| Takt | The average time that passes between production starting on one unit and the next unit in order to meet demand |
| Reuse | Taking old or unwanted items you might otherwise throw away and finding a new use for them |
| Employee Empowerment | Use quality circles to achieve employee empowerment where groups of workers meet to solve problems related to quality |
| Quality Improvement | - Quality Control - Quality assurance - Total Quality Management |
| Quality Control | The use of inspections at various points in the production process to check for problems and defects |
| Quality Assurance | The use of a system so that a business achieves set standards in production. It is a proactive strategy. Many businesses use the ISO 9001 series of standards |
| Total Quality Management | An ongoing business wide commitment to excellence - Customer focus - Continuous Improvement - Employee Involvement - Defect Prevention |
| Materials Management | The strategy that manages the use, storage and delivery of materials - Master Production Schedule - Materials Requirement Planning - Inventory Control - Just In Time - Forecasting |
| Just In Time | A materials management strategy that ensures the right amount of material inputs will arrive only as they are needed |
| Forecasting | Relies on data from the past and present in an attempt to determine future events |
| Inventory Control | Ensures that the operations system has access to the right amounts of inputs when required |
| Materials Requirement Planning | Involves developing an itemized list of all materials required in production |
| Master Production Schedule | A plan that details what is to be produced, in what quantities and when |
| Business Competitiveness | The ability of a business to sell products in a market |
| Common Law Action | Parties may make direct claims for damages caused by industrial action |
| Arbitration | Independent third party hearing both arguments and determining the outcome |
| Mediation | Neutral third party who helps but does not offer suggestions or solutions |
| Unprotected Action | Industrial action that takes place before the expiry date of the previous agreement is considered to be unprotected therefore unlawful |
| Disputes | Disagreements or dissatisfaction between individuals and/ or groups |
| Negotiation | A process where one party asks for something from another party - Benefits - Hours - Standards - Pay |
| Enterprise Agreement | An agreement on pay and conditions made at the workplace level and negotiated between employees and employers |
| Award | A legally binding document determined by the Fair Work Commission That sets out minimum wages and conditions for industries |
| Employees | More closely involved in the process of developing new or changed agreements |
| Theories of Motivation | - Maslow's Hierarchy of Needs - Locke and Latham's Goal Setting Theory - 4 Drives theory |
| Three Step Change Model | Unfreeze - Preparing for change Change - Moving from old situation to new situation Refreeze - Putting strategies in place to keep change stable |
| High Risk Strategies | - Threat - Manipulation |
| CSR | The obligations a businesses has to go above and beyond its legal responsibilities to the wellbeing of Stakeholders and the environment |
| Types of Businesses | - Sole Trader - Partnership - Companies - Social Enterprise - Government Enterprise |
| Social Enterprise | A main aim to fulfil social objectives |
| Government Enterprise | Government owned and operated, provides essential services in health, transport, communications, housing etc. |
| Management Styles | - Autocratic - Persuasive - Consultative - Participative - Laissez Faire |
| Autocratic Features | - One way Communication - Centralised decision making |
| Persuasive Features | - One way Communication - Centralised decision making |
| Consultative Features | - Two way communication - Mostly centralised decision making |
| Participative Features | - Two way communication - Decentralised decision making |
| Laissez Faire | - Two way communication - Decentralised decision making |
| Termination Management | - Retirement - Resignation - Redundancy - Dismissal - Unfair Dismissal |
| Employer Associations | Organisations that represent employer groups - Master Builders Association |
| Transition Considerations | Issues relating to the process of changing from one job to another |
| 4 Principles of Lean Management | - Pull - One Piece Flow - Takt - Zero Defects |
| Lean Management | Identifies 7 wastes that a business should work towards eliminating - Excess Transportation - Excess Inventory - Excess Motion - Waiting/ Idle time - Over Processing - Overproducing - Reducing Defects |
| One Piece Flow | Eliminating waiting time or idle time |
| Pull | Avoiding overproduction and stockpiling |
| Performance Management | Improving both business and individual performance by relating business performance objectives to individual employee performance objectives |
| Performance Management Strategies | - Management by Objectives - Appraisal - Employee Self Evaluation - Employee observation |
| Management Skills | - Communication - Delegation - Planning - Leadership - Decision making - Interpersonal Skills |
| Stakeholders | - Owners - Managers - Employees - Customers - Shareholders - General Community - Suppliers |
| Goal Setting Theory | Employees are motivated by clear goals and appropriate feedback - Clarity - Challenge - Commitment - Feedback - Task Complexity |
| Employers | Employers handle workplace relation issues everyday |
| 5 Key Roles of Government | - Legislation - Employer - Economic Manager - Administrate Government Policies - Representatives of Australia Internationally |
| Business Objectives | - Profit - Market Share - Efficiency - Effectiveness - Social Need - Market Need - Shareholder Expectations |
| Fair Work Commission | - Helps resolve disputes - Deal with unfair dismissal - Regulation of industrial action - Set minimum wage level |
| Negotiation | Discussions between parties that result in a compromise |
| Operations Management | All the activities in which managers engage to produce goods or services |
| Reduce | Achieved by creating less waste - Just In Time - Quality Management |
| Recycle | Changing discarded materials into new products to avoid using virgin materials |
| CSR in Operations Management | - Managing Inputs Appropriately - Managing Suppliers Appropriately - Managing Staff Appropriately - Environmentally Sustainable Products - Aware of Amount of Waste Generated |
| Business Change | The adoption of a new idea or behaviour by a business |
| Strategies to Develop CC | - Change Management Style - Implementing Policies - Rewarding Employees - Establishing Rites and Rituals |
| Low Risk Strategies | - Communication - Empowerment - Support - Incentives |
| Conducting Force Field Analysis | 1. Identify Forces and Weight them 2. Prioritise Top Restraining and Driving Forces 3. List actions and implement a response 4. Evaluate the Response |
| Participants in the Workplace | - HR - Employees - Employers - Unions - FWC |
| Entitlement Considerations | The rights to benefits that employees have when leaving the workplace |
| Motivation Strategies | - Performance Related Pay - Career Advancement - Sanction - Support - Investment in Training |
| Vision Statement | States what the business desires to become |
| Mission Statement | Expresses why the business exists, its purpose and how it will operate |
| 5 Areas of Management Responsibility | - Finance - IT Support - Operations - Sales Marketing - HR Management |
| Maslow's Hierarchy of Needs | All people have needs to be satisfied, and they will work towards satisfying them 1. Physiological 2. Safety and Security 3. Social 4. Esteem 5. Self Actualisation |
| 4 Drives Theory | The four main drives that shape the way people think and behave - Drive to acquire - Drive to bond - Drive to learn - Drive to defend |
| Trade Unions | Organisations formed by employees to represent them, who also investigate suspected breaches of workplace laws |
| 10 National Employment Standards | - Annual Leave - Public Holidays - Parental Leave - Max Weekly Hours - Right to Request Flexibility - Personal, Carers, Compassionate Leave - Community Service Leave - Long Service Leave - Notice of Termination and Redundancy Pay - Provision of a FW Information Statement |
| Individual Contracts | Covers employees not under an award or agreement |
| Protected Industrial Action | Action taken by either party to dispute that has been approved by the FWC |
| Technology | - Automation - Robotics - CAD - CAM - Artificial Intelligence - Online Services |
| Waste Minimisation | Involving the reduction of unwanted or unusable resources produced by a business - Reduce - Reuse - Recycle |
| Environmental Sustainability | A business making decisions that will allow it and the rest of society to continue to interact with the environment |
| Competitive Advantage | When a business has a lower cost price structure than its competitors |
| 10 KPI's | - Percentage of Market Share - Net Profit Figures - Number of Sales - Rate of Productivity Growth - Rate of Staff Absenteeism - Level of Staff Turnover - Level of Wastage - Number of Customer Complaints - Number of Website Hits - Number of Workplace Accidents |
| Driving Forces | - Managers - Employees - Legislation - Pursuit of Profit - Technology - Societal Attitude - Innovation |
| Sole Trader | A business owned and operated by one person - Not regarded as a separate legal entity - Unlimited Liability - Personal tax file number |
| Partnership | A business owned by two or more people - Typically, a maximum of 20 partners - Unlimited Liability - Own tax file number |
| Incorporation | The process a business goes through to become a registered company - Benefit of limited liability - Administered by the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION (ASIC) |
| Private Limited Companies | An incorporated business that has a minimum of one shareholder and a maximum of 50 non-employee shareholders, and whose shares are offered - Must have at least one Dictator - Limited Liability |
| Public Listed Company | An incorporated business with a minimum of one shareholder and no maximum - Openly traded on the Australian Securities Exchange - Limited Liability - Minimum of three Directors |
| Social Enterprise | A business with the objective of fulfilling a social need - Providing opportunities to unemployed people - Providing essential services to disadvantaged communities - Focusing on waste minimisation and recycling |
| Government Enterprise | A type of business that is government-owned and operated - Goal of making a profit - Some of the largest employers in Australia |
| Business Objective | A desired outcome or specific result that a business intends to achieve |
| Employees and Shareholder Conflict | Employees want safe working conditions and reasonable wage, this may impact the businesses profit and dividends to shareholders |
| Management and Customers Conflict | Management may raise prices to increase profit leading to dissatisfied customers who wish for reasonably priced products |
| Management and General Community Conflicts | Management might decide to cut costs by neglecting maintenance which could put members of the community at risk |
| Suppliers and General Community Conflicts | Suppliers may use unethical practices which may upset the general community |
| Management and Suppliers Conflict | Management wishes to keep costs down but suppliers providing ethical materials require higher prices |
| Contingency Management Theory | The need for flexibility and the adaption of management styles to suit the situation - Nature of the task - Time - Employee experience - Manager preference |
| Communication | The ability to transfer information from a sender to a receiver, and listen to feedback |
| Delegation | The ability to transfer authority and responsibility from a manager to an employee to carry out specific activities - Helps time management - enables staff to learn new skills - Be used to build trust |
| Planning | The ability to define business objectives and decide on the methods or strategies to achieve them - Strategic (Long-term) - Tactical (Medium-term) Flexible and adaptable planning - Operational (Short-term) Daily and Weekly production schedules |
| SWOT | -Strengths -Weaknesses -Opportunities -Threats |
| Decision Making | The ability to identify the options available and then choose a specific course of action |
| Interpersonal Skills | The ability to deal or cooperate with people and build positive relationships with staff -Used to inspire and influence staff |