ENT CH 10

BLANK resources is the quantity and quality of human effort directed toward producing goods and services.

human

A hybrid compensation system _____. Multiple choice question. pays an hourly wage in addition to a commission pays a percentage of profits in addition to a commission pays a salary along with a commission pays an hourly wage in addition to a percentage of the company's profits

pays a salary along with a commission

Equity theory states that employees judge _____. Multiple choice question. whether their effort will result in attaining a desired goal, e.g., a pay increase how well they are treated in the context of how well others are being treated

how well they are treated in the context of how well others are being treated

True or false: Entrepreneurs typically do not have the right to fire employees. True false question.

false

True or false: Workers' compensation laws in the United States require the rates of workers' compensation insurance to be the same in all states.

false

An entrepreneurial firm's package of benefits has ______ the compensation it offers to a job candidate. Multiple choice question. more of an impact than as much of an impact as less of an impact than

as much of an impact as

A ______ is where a sales commission is paid in addition to a basic salary. Multiple choice question. profit-sharing system hybrid compensation system

hybrid compensation system

A company's compensation system is _____. Multiple choice question. taken care of by the company's union just one factor for employees of the highest importance for employees not important to high-performing employees

of the highest importance for employees

Which of the following is the next step in the hiring process after the job description has been created? Multiple choice question. Advertising the position Hiring the best applicant Deciding the fringe benefits Interviewing applicants

Advertising the position

Which of the following are low- or no-cost means of advertising a job opening? (Check all that apply.) Multiple select question. Word of mouth Trade association Billboard advertising College placement office

Word of mouth Trade association College placement office

______ theory argues that people judge how they are treated relative to how they see others being treated. Multiple choice question. Equity Expectancy

equity

Which of the following questions should be included on a job application? (Check all that apply.) Multiple select question. Name, address, and telephone numbers Marital status and number of children Social Security number Work history

Name, address, and telephone numbers Social Security number Work history

______ is an example of a hybrid compensation system where the employee is paid a small salary but earns a percentage of the profits at the end of the year. Multiple choice question. A commission Profit sharing

Profit sharing

Which of the following statements regarding performance reviews are correct? Multiple select question. All performance reviews should be communicated verbally, not in written form. They are for a specific time frame, often one year. Employees should be given praise as well as details of areas of improvement. They review an employee's performance against a set of goals.

They are for a specific time frame, often one year. Employees should be given praise as well as details of areas of improvement. They review an employee's performance against a set of goals.

Which of the following is a human resources issue for family firms? (Check all that apply.) Multiple select question. It is more difficult to fire or discipline a family member. Family members may make another angry, since they know that member's "hot buttons." Outsiders are often seen by family members as playing unimportant roles in the firm. Placement of family members makes it impossible to create an environment of discrimination.

It is more difficult to fire or discipline a family member. Family members may make another angry, since they know that member's "hot buttons."

An employee who earns a salary is paid _____. Multiple choice question. a set amount of money that is paid without regard to how many hours worked in a given time period a set amount for each time period plus an additional amount based on a percentage of sales based on a percentage of sales a set amount for a given period plus a share of the profits for a time period

a set amount of money that is paid without regard to how many hours worked in a given time period

______ rewards employees based on their performance. Multiple choice question. A commission A bonus Profit sharing

bonus

A ______ is payment based on a percentage of sales. Multiple choice question. hybrid compensation system commission salary

commission

It is perfectly acceptable for companies to test their job candidates if Blank______ between performance on the test and the skill set necessary for success on the job is present. Multiple choice question. a direct link only a neutral link no link only an indirect link

direct link

Business owners who offer profit sharing _____. Multiple choice question. pay employees a small salary but offer a percentage of the profits that the company earns pay employees an hourly wage and a commission based on their sales pays employees a percentage of sales pay employees both a salary and a percentage of sales

pay employees a small salary but offer a percentage of the profits that the company earns

A poorly performing employee is said to have a ____ impact on the entrepreneurial firm. Multiple choice question. quadruple triple double

triple

True or false: Human resources has been defined in economics as the quantity and quality of human effort directed toward producing goods and services. True false question.TrueFalse

true

True or false: Recruiting companies do an extremely good job recruiting and placing people with companies that have unique skill requirements.

true

A(n) description describes the skills and capabilities that a candidate should have.

job

True or false: Hiring a family member does not eliminate discrimination issues for large family businesses.

true

Entrepreneurs should always ask candidates to fill out a(n) ______ for employment. Multiple choice question. application resume

application

Which of the following should entrepreneurs do to have a proper justification for firing employees? (Check all that apply.) Multiple select question. They must inform all employees about recent business decisions. They must develop a paper trail regarding all employees. They must be diligent in their efforts to assist poorly performing employees. They must avoid being honest about an employee's performance if it is not as desired.

They must develop a paper trail regarding all employees. They must be diligent in their efforts to assist poorly performing employees.

Which of the following describe the roles that human resources management plays in business? (Check all that apply.) Multiple select question. Hiring new employees Inspiring employees Managing employees Punishing employees

Hiring new employees Inspiring employees Managing employees

A ______ examines an employee's goals and the outcome of those goals over a particular given period. Multiple choice question. 360 review feedback review probationary review performance review

performance review

Why should business owners retain employees who add value? (Check all that apply.) Multiple select question. The hiring process consumes a lot of time and money. The hiring process requires divulging confidential information about the business. The compensation for valuable employees can be reduced after hiring new employees. It takes time to bring each new employee to an acceptable level of performance.

The hiring process consumes a lot of time and money. It takes time to bring each new employee to an acceptable level of performance.

The details of the ______ should be developed prior to the conversation with the candidate. Multiple choice question. job offer benefits job preview second interview

job offer

Which of the following statements regarding bonus systems are correct? (Check all that apply.) Multiple select question. They are similar to profit sharing. They are based on the employee's performance. Employees prefer a yearly bonus structure, while employers prefer to give monthly bonuses. They are not as well defined as profit sharing.

They are similar to profit sharing. They are based on the employee's performance. They are not as well defined as profit sharing.

Which of the following statements regarding a company's compensation system are correct? (Check all that apply.) Multiple select question. Companies have formal systems that publicize all information regarding a particular employee's salary. Salary and benefits play an important role in maintaining employee morale. Employees often compare their salary with others at their company. It needs to be fair and equitable for all employees.

Salary and benefits play an important role in maintaining employee morale. Employees often compare their salary with others at their company. It needs to be fair and equitable for all employees.

The last step in the employee hiring process is ______. Multiple choice question. the job preview a second interview a discussion of salary and benefits the job offer

the job offer

Which of the following statements about a job description are correct? (Check all that apply.) Multiple select question. It is written to attract a pool of applicants for the job and can have little or no cost to the business. It states the skills and capabilities that the employee needs. It provides information on benefits. It describes the job that is to be filled.

It states the skills and capabilities that the employee needs. It provides information on benefits. It describes the job that is to be filled

Which of the following statements regarding equity theory are correct? (Check all that apply.) Multiple select question. Employees need a clear understanding of how their compensation compares to peers'. Employees judge the fairness of their compensation based on another's in a similar situation. Employees can accept that someone in the same position for the same amount of time may have different salaries. Employees will accept that someone who has been with the company longer may earn more.

Employees need a clear understanding of how their compensation compares to peers'. Employees judge the fairness of their compensation based on another's in a similar situation. Employees will accept that someone who has been with the company longer may earn more.

The ______ established a minimum wage for workers. Multiple choice question. Workers' Fair Compensation Act (WFCA) Fair Labor Standards Act (FLSA) Employment Compensation Act (ECA)

Fair Labor Standards Act (FLSA)

Which of the following statements about recruiting companies are correct? (Check all that apply.) Multiple select question. Fees can be a significant portion of the employee's first year's salary. They typically charge the company a fee. They generally provide employers with highly qualified employees. They generally have a poor track record of finding good employees for small business employers.

Fees can be a significant portion of the employee's first year's salary. They typically charge the company a fee. They generally provide employers with highly qualified employees.

Marc and James were hired at the same time. They graduated from the same school with the same grade point average. They both work in the same department doing similar jobs. During their last review, both received similar performance ratings. James is paid $500 more than Marc. According to equity theory, how would Marc feel if he found out? Multiple choice question. He would feel that James must work harder, so the company pays him more. He would feel that James is just luckier. He would feel that he is compensated unfairly in comparison to James. He would feel that there must be a logical reason.

He would feel that he is compensated unfairly in comparison to James.

Select all that apply Identify the key issues that entrepreneurial businesses should consider when trying to retain employees who add value. (Check all that apply.) Multiple select question. The number of external investors in the business The means of reviewing the performance of the employees The compensation and benefits offered to the employees The religious and political views of the employees

The means of reviewing the performance of the employees The compensation and benefits offered to the employees

Which of the following statements about human resources is NOT true? Multiple choice question. The most important role of human resources is to meet basic legal requirements. Skilled employees may be hard for other companies to imitate. Developing employees' skills helps the business develop a key resource. It is important to hire employees who are consistent with the business's strategy.

The most important role of human resources is to meet basic legal requirements.

Which of the following are likely to affect a small business when an employee becomes a problem? Multiple select question. The owner loses time dealing with the situation. The owner will have to spend time filing Title VII paperwork. The organization does not fully benefit from the unhappy employee. The problem may cause other employees to have problems.

The owner loses time dealing with the situation. The organization does not fully benefit from the unhappy employee. The problem may cause other employees to have problems.

Identify the true statements about workers' compensation laws in the United States. (Check all that apply.) Multiple select question. They require the rates of workers' compensation insurance to be the same in all states. They provide workers' compensation insurance that is regulated by each state. They prohibit states from running their own funds for workers' compensation insurance. They aim to provide some type of wages to employees who are disabled or injured while on the job.

They provide workers' compensation insurance that is regulated by each state. They aim to provide some type of wages to employees who are disabled or injured while on the job.

Which of the following is not considered a benefit but is mandated by law? Multiple choice question. Sick days Unpaid vacation Paid holidays Unemployment insurance

Unemployment insurance