MANG quiz 5

The executive pay video in Module 9 described a complex executive pay structure for which fictional corporation?

Dickens Systems

Corey is the president of a large corporation whose plants are very interdependent. Her corporation is vulnerable to cyclical ups and downs in product demand. Which of the following would be the best pay-for-performance plan for her corporation?

ESOP program

_______ pay is evident in electronics manufacturing organizations such as Apple

Individual-based

Profit-sharing plans are most attractive to employers and employees alike when the firm:

aces highly cyclical ups and downs in product demand.

The funny commercial in Module 10 showed people being paid with

chewing gum

Total Compensation is a pay mix of rewards received by the employee for their labor efforts. That pay mix is described in Module 9 as which type of snack treat:

chex mix

Profit sharing is one type of:

corporate-wide incentive pay plan.

The distributive justice model is based on the idea that:

employees make input/output comparisons to their co-workers.

The perceived fairness of what an employer pays, relative to what other employers pay for the same type of labor, is known as

external equity

According to the video in Module 10, piece-rate is the best way to pay cucumber pickers.

false

Most Americans feel that pay is the most important consideration in accepting or staying at a job.

false

Organizations that emphasize nonmonetary rewards are often trying to encourage and reinforce individual achievement and responsibility among employees.

false

Pay-for-performance has little effect on employees' effort level and commitment to the organization.

false

Pay-for-performance is likely to enhance the spirit of cooperation in an organization, as employees will work to help one another improve their job performance.

false

The future rewards theory maintains that people tend to do those things that are rewarded.

false

While the Fair Labor Standards Act dictates that employers pay workers overtime for each hour they work over 40 hours in a week, it does not dictate the rate they must be paid. Employers may pay anywhere from 1/2 to 2 times their regular wage.

false

module 10 describes 6 different challenges to pay-for-performance plans.

false

Base compensation refers to:

fixed pay received on a regular basis.

Mentioned in Module 9, this former athlete received above-market compensation based upon his unique attributes and contributions to the team and to the sport.

kobe bryant

In the article from Module 10, in 2014, the Dallas Independent School District became the first public school district in Texas to:

pay teachers based on how well their students perform

Piece-rate pay-for-performance would most likely work well with:

sewing machine operators paid for the number of pairs of pants they sew in a given work day.

Perquisites, also called "perks" are best described as:

special benefits reserved for upper-level managers.

A key assumption behind pay-for-performance compensation is that:

the organization's performance depends on individuals' performance

According to the article on Open and Secret Pay in Module 9, sharing salary information can create tension between colleagues and resentment toward management.

true

The eHOW video in Module 9 explains that companies need to address BOTH internal equity and external equity when designing compensation plans. firms.

true