March 2023

A Level Business Studies: Introduction to Communication in Business

By |2023-03-13T09:53:17+02:00March 13th, 2023|

  • Don’t […]
    • Communication is the process of exchanging information, ideas, and messages between individuals or groups.
    • In a business context, communication plays a critical role in the success of an organization.
    • One term you will encounter a lot while we discuss communication is effective communication.
    • Don’t […]
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    A Level Business Studies: What is a Salary?

    By |2023-03-13T07:49:07+02:00March 13th, 2023|

  • Salaries are common in […]
    • A salary is a fixed amount of money paid to an employee on a regular basis, usually monthly or bi-weekly.
    • It is predetermined and agreed upon by the employer and the employee and is not tied to the number of sales made or work completed.
    • Salaries are common in […]
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    A Level Business Studies: What is the commission?

    By |2023-03-13T07:42:33+02:00March 13th, 2023|

  • It is a popular way to incentivize salespeople […]
    • The commission is a form of remuneration where employees earn a percentage of the sales they make. It pays employees a percentage of the value of the sales they have made. Commission incentivizes employees to sell more and generate more revenue for the business.
    • It is a popular way to incentivize salespeople […]
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    A Level Business Studies: Time Rate System of Compensation

    By |2023-03-13T07:30:22+02:00March 13th, 2023|

  • Payment is made to a worker for each hour […]
    • The time rate system is a method of remunerating workers according to the time spent on the job or task.
    • It pays wages based on the amount of time worked, such as an hourly rate or a daily rate.
    • Payment is made to a worker for each hour […]
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    A Level Business Studies: The Piece Rate System

    By |2023-03-13T07:01:19+02:00March 13th, 2023|

  • It pays wages at a fixed piece rate for each unit of output produced, and the wages payable to the employee are calculated using the formula: Wages = Output x Piece Rate or […]
    • The piece rate system is a method of remunerating workers according to the number of units produced or jobs completed.
    • It pays wages at a fixed piece rate for each unit of output produced, and the wages payable to the employee are calculated using the formula: Wages = Output x Piece Rate or […]
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    A Level Business Studies: Financial and Non-Financial Ways of Motivating Employees

    By |2023-03-13T06:49:01+02:00March 13th, 2023|

  • It is important […]
    • The sum of what the theories of motivation say is that employees can be motivated using two main methods
    • We can use financial methods of motivating or compensating employees in a bid to motivate them
    • We can also use non-financial methods of motivation
    • It is important […]
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    A Level Business Studies: Evaluation of Motivational Theories

    By |2023-03-13T06:04:45+02:00March 13th, 2023|

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    A Level Business Studies: Vroom’s Expectancy Theory

    By |2023-03-13T05:50:45+02:00March 13th, 2023|

  • The expectancy theory can […]
    • Victor Vroom was a Canadian management psychologist who proposed the expectancy theory of motivation.
    • His expectancy theory was developed in the 1930s
    • His theory suggests that an individual’s behaviour is determined by their perception of the link between effort, performance, and outcome.
    • The expectancy theory can […]
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    A Level Business Studies: David McClelland’s Motivational Needs Theory

    By |2023-03-13T05:31:25+02:00March 13th, 2023|

  • The three needs are achievement, affiliation, and power, and each need can have a significant impact on an individual’s behaviour and performance in the workplace.
  • The three needs are achievement, affiliation, and power, and each need can have a significant impact on an individual’s behaviour and performance in the workplace.
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    A Level Business Studies: Elton Mayo’s Human Relations Theory

    By |2023-03-13T04:51:54+02:00March 13th, 2023|

    • Just like with FW Taylor’s Scientific Management Theory, Elton Mayo’s Human Relations theory is more than just a management theory
    • It can be repurposed and turned into a motivational theory as well
    • The theory can be used by management to find ways in which they can motivate workers
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