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Piecework
Piece work (or piecework) is any type of employment in which a worker is paid a fixed piece rate for each unit produced or action performed, regardless of time. Context When paying a worker, employers can use various methods and combinations of methods. Some of the most prevalent methods are: paid a wage by the hour (known as "time work"); paid an annual salary; salary plus commission (common in sales jobs); base salary or hourly wages plus gratuities (common in service industries); salary plus a possible bonus (used for some managerial or executive positions); salary plus stock options (used for some executives and in start-ups and some high tech firms); salary pool systems; gainsharing (also known as "profit sharing"); paid by the piece – the number of things they make, or tasks they complete (known as ‘output work’); or paid in other ways (known as ‘unmeasured work’). Some industries where piece rate pay jobs are common are agricultural work, cable installation, cal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employment
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweating System
A sweatshop or sweat factory is a crowded workplace with very poor, socially unacceptable or illegal working conditions. Some illegal working conditions include poor ventilation, little to no breaks, inadequate work space, insufficient lighting, or uncomfortably/dangerously high or low temperatures. The work may be difficult, tiresome, dangerous, climatically challenging or underpaid. Workers in sweatshops may work long hours with unfair wages, regardless of laws mandating overtime pay or a minimum wage; child labor laws may also be violated. Women make up 85 to 90% of sweatshop workers and may be forced by employers to take birth control and routine pregnancy tests to avoid supporting maternity leave or providing health benefits. The Fair Labor Association's "2006 Annual Public Report" inspected factories for FLA compliance in 18 countries including Bangladesh, El Salvador, Colombia, Guatemala, Malaysia, Thailand, Tunisia, Turkey, China, India, Vietnam, Honduras, Indonesia, Brazil, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guild
A guild ( ) is an association of artisans and merchants who oversee the practice of their craft/trade in a particular area. The earliest types of guild formed as organizations of tradesmen belonging to a professional association. They sometimes depended on grants of letters patent from a monarch or other ruler to enforce the flow of trade to their self-employed members, and to retain ownership of tools and the supply of materials, but were mostly regulated by the city government. A lasting legacy of traditional guilds are the guildhalls constructed and used as guild meeting-places. Guild members found guilty of cheating the public would be fined or banned from the guild. Typically the key "privilege" was that only guild members were allowed to sell their goods or practice their skill within the city. There might be controls on minimum or maximum prices, hours of trading, numbers of apprentices, and many other things. These rules reduced free competition, but sometimes main ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweatshop
A sweatshop or sweat factory is a crowded workplace with very poor, socially unacceptable or illegal working conditions. Some illegal working conditions include poor ventilation, little to no breaks, inadequate work space, insufficient lighting, or uncomfortably/dangerously high or low temperatures. The work may be difficult, tiresome, dangerous, climatically challenging or underpaid. Workers in sweatshops may work long hours with unfair wages, regardless of laws mandating overtime pay or a minimum wage; child labor laws may also be violated. Women make up 85 to 90% of sweatshop workers and may be forced by employers to take birth control and routine pregnancy tests to avoid supporting maternity leave or providing health benefits. The Fair Labor Association's "2006 Annual Public Report" inspected factories for FLA compliance in 18 countries including Bangladesh, El Salvador, Colombia, Guatemala, Malaysia, Thailand, Tunisia, Turkey, China, India, Vietnam, Honduras, Indonesia, Brazil, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Performance-related Pay
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission. Many employers use this standards-based system for evaluating employees and for setting salaries. Standards-based methods have been in ''de facto'' use for centuries among commission-based sales staff: they receive a higher salary for selling more, and low performers do not earn enough to make keeping the job worthwhile even if they manage to keep the job. In effect, the salary would be re-evaluated up, or down, periodically (usually annually) based on the performance of the individual or team. The reward is the salary: with an expectation to be high on the pay band for high performance and low on the band for low performance. In comparison, the per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Structure
A typical corporate structure consists of various departments that contribute to the company's overall mission and goals. Common departments include Marketing, Finance, Operations management, Human Resource, and IT. These five divisions represent the major departments within a publicly traded company, though there are often smaller departments within autonomous firms. Many businesses have a CEO and a Board of Directors, usually composed of the directors of each department, potentially with the addition of one or more non-executive directors. There are also company presidents, vice presidents, and CFOs. However, there is a great diversity in corporate forms, as enterprises range from single company to multi-corporate conglomerate.Roman Tomasic, Stephen Bottomley, Rob McQueen, Corporation Law in Australia', Federation Press, 2002, pp.167-173 The four main corporate structures are Functional, Divisional, Geographic, and the Matrix. Many corporations have a “ hybrid” structure, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Accounting
Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making. Origins of Cost Accounting All types of businesses, whether manufacturing, trading or producing services, require cost accounting to track their activities. Cost accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scientific Management
Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes to management. Scientific management is sometimes known as Taylorism after its pioneer, Frederick Winslow Taylor. Mitcham, Carl and Adam, Briggle ''Management'' in Mitcham (2005) p. 1153 Taylor began the theory's development in the United States during the 1880s and 1890s within manufacturing industries, especially steel. Its peak of influence came in the 1910s. Although Taylor died in 1915, by the 1920s scientific management was still influential but had entered into competition and syncretism with opposing or complementary ideas. Although scientific management as a distinct theory or school of thought was obsolete by the 1930s, most of its themes are still important parts of industrial engineering and management toda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of Labor
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation). Individuals, organizations, and nations are endowed with, or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialised capabilities may include equipment or natural resources as well as skills, and training and combinations of such assets acting together are often important. For example, an individual may specialise by acquiring tools and the skills to use them effectively just as an organization may specialise by acquiring specialised equipment and hiring or training skilled operators. The division of labour is the motive for trade and the source of economic interdependence. Historically, an increasing division of labour is associated with the growth of total output and trade, the rise of capitalism, and the increasing complexity of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eli Whitney
Eli Whitney Jr. (December 8, 1765January 8, 1825) was an American inventor, widely known for inventing the cotton gin, one of the key inventions of the Industrial Revolution that shaped the economy of the Antebellum South. Although Whitney himself believed that his invention would reduce the need for enslaved labor and help hasten the end of southern slavery, Whitney's invention made upland short cotton into a profitable crop, which strengthened the economic foundation of slavery in the United States and prolonged the institution. Despite the social and economic impact of his invention, Whitney lost many profits in legal battles over patent infringement for the cotton gin. Thereafter, he turned his attention into securing contracts with the government in the manufacture of muskets for the newly formed United States Army. He continued making arms and inventing until his death in 1825. Early life and education Whitney was born in Westborough, Massachusetts, on December 8, 1765, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American System Of Manufacturing
The American system of manufacturing was a set of manufacturing methods that evolved in the 19th century. The two notable features were the extensive use of interchangeable parts and mechanization for production, which resulted in more efficient use of labor compared to hand methods. The system was also known as armory practice because it was first fully developed in armories, namely, the United States Armories at Springfield in Massachusetts and Harpers Ferry in Virginia (later West Virginia), inside contractors to supply the United States Armed Forces, and various private armories. The name "American system" came not from any aspect of the system that is unique to the American national character, but simply from the fact that for a time in the 19th century it was strongly associated with the American companies who first successfully implemented it, and how their methods contrasted (at that time) with those of British and continental European companies. In the 1850s, the " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lathe (tool)
A lathe () is a machine tool that rotates a workpiece about an axis of rotation to perform various operations such as cutting, sanding, knurling, drilling, deformation, facing, and turning, with tools that are applied to the workpiece to create an object with symmetry about that axis. Lathes are used in woodturning, metalworking, metal spinning, thermal spraying, parts reclamation, and glass-working. Lathes can be used to shape pottery, the best-known design being the Potter's wheel. Most suitably equipped metalworking lathes can also be used to produce most solids of revolution, plane surfaces and screw threads or helices. Ornamental lathes can produce three-dimensional solids of incredible complexity. The workpiece is usually held in place by either one or two ''centers'', at least one of which can typically be moved horizontally to accommodate varying workpiece lengths. Other work-holding methods include clamping the work about the axis of rotation using a chu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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