Practice Quiz: Chapter 18
When dividing ownership in a nonfamily startup, one model is the ________ model which holds that a person's share of the rewards should equal their share of their at-risk contributions—counting not only money invested but time, equipment and supplies, facilities, intellectual property, and relationships. "Meritocracy" "Psychological Contract" "Open-Book" "Slicing Pie"
"Slicing Pie"
Bob has been running the Handy Hardware Store for a few years now. As the business grew, he hired several mechanics who are now middle-aged and good at their jobs. Bob's son, Billy, is just out of college. Bob would like his son to take over the business, but is concerned that the middle-aged workforce might not receive the right guidance for the execution of the business from young Billy. He is also concerned about the displeasure the other employees might have at hiring Billy to run the business. Which of the following is the best course for Billy to take so that he can be hired in his father's company? Billy should urge his father to give him the top position immediately. Billy should turn down other job offers remain unemployed until he is hired at Handy Hardware Store. Billy should promise to work longer and harder than anyone else as it is the family's business. Billy should seek a job in another company of the same industry, gain experience, and then join Handy Hardware Store.
Billy should seek a job in another company of the same industry, gain experience, and then join Handy Hardware Store.
Which among the following federal employment laws requires employers to implement an affirmative action plan for hiring and promoting females and minorities? Executive Order No. 11246 Title VII of the Civil Rights Act of 1864 Worker Adjustment and Retraining Notification Act Immigration Reform and Control Act of 1886
Executive Order No. 11246
Which of the following options is an example of a typical behaviorally-based interview question? Did you feel comfortable in your previous job? Have you ever had to overcome a major obstacle at work? How have you adapted to a difficult situation? Have you ever been called on to persuade team members to do things your way?
How have you adapted to a difficult situation?
Which of the following is true of a probationary period? It is exclusively used on part-time workers. It cannot be used in small businesses. Its time period is typically dictated by state laws. It cannot be used on employees who are being hired for full-time jobs.
Its time period is typically dictated by state laws.
________ refers to the concept that key employees should be able to see and understand a firm's financials, that they should have a part in moving the numbers in the right direction, and that they should have a direct stake in the strategy and success of the firm. Open-book policy Autonomy Work facilitation Psychological contract
Open-book policy
A small company selling handmade items online and having only five total employees, including the owner, would not be subject to which of the following laws? The Fair Labor Standards Act The Americans with Disabilities Act The Employee Polygraph Protection Act of 1988 The National Labor Relations Act
The Americans with Disabilities Act
Which of the following laws requires payment to most hourly employees of minimum wage and time and a half for overtime hours? Executive Order No. 11246 Title VII of the Civil Rights Act of 1864 Worker Adjustment and Retraining Notification Act The Fair Labor Standards Act
The Fair Labor Standards Act
Which of the following statements is not true of performance reviews? The performance review typically occurs once a year to monitor your employees' job satisfaction, performance, and set objectives. The performance review is a time to review work from the year past. The performance review is a time to plan and set goals for the year ahead. The goal of the performance review is to reward your employees if they have performed all duties and met general requirements.
The goal of the performance review is to reward your employees if they have performed all duties and met general requirements.
Which of the following is true of 401(k) plans? They refer to the leave policies that make no distinction between sick, vacation, and personal days and allow employees a set number of days off each year. They are compensation plans that take no more than 5 percent of the annual personnel budget. They allow the employee to have no control over the amount of their contribution and how the money is invested. They are typically easier to administer and are less expensive than traditional pension plans.
They are typically easier to administer and are less expensive than traditional pension plans.
The Immigration Reform and Control Act of 1886 is applicable to all employers. only employers with 100 or more employees. only employers with 15 or more employees. only employers who have 50 or more employees.
all employers.
According to the six factors most valuable to employees, which of the following is a reason employees leave a company? being put through different types of training being asked to make on-the-spot decisions for the companies' best interest being shown that the decisions employees make and the work they perform have a direct impact on the product or service provided being denied professional development and learning opportunities to expand their job responsibility
being denied professional development and learning opportunities to expand their job responsibility
Which of the following factors refers to providing meaningful work for employees, which gives them the feeling or belief that the day's work had a valuable impact to the company and that they made a difference? empowerment training contribution teamwork
contribution
To treat family and nonfamily employees as similarly as possible in a business, it is important to have separate personnel policies for family and nonfamily members. create career ladders for nonfamily members. provide favorable treatment to nonfamily members. guarantee the possibility of employee ownership.
create career ladders for nonfamily members.
When conducting employee performance reviews, an appraisal form should be filled out by the employee and returned to you after the scheduled performance review. true false
false
After determining an organization's compensation philosophy, the next step in developing a compensation plan is to develop a job description. find comparison factors for salary. provide stock options or stock grants to employees. offer employer-sponsored health insurance.
find comparison factors for salary.
Which of the following would implicate employee empowerment? providing learning opportunities at every level of the organization through training letting employees make on-the-spot decisions for the companies' best interest providing meaningful work for employees and keeping them occupied showing appreciation for a job well done or giving credit to an employee who introduced a great idea
letting employees make on-the-spot decisions for the companies' best interest
Which of the following is a management philosophy of selecting and promoting people based solely on their being the most capable person for the job? nepotism capitalism meritocracy democracy
meritocracy
Which of the following terms refers to the privileges, services, or even tangible items given to employees as part of the overall compensation and benefits package? bonuses long-term incentives perks health insurance
perks
Making no distinction between sick, vacation, and personal days and allowing employees a set number of days off each year to be used at their discretion prevents employees from abusing sick days. causes employees to lie more often when they need to take a day off. increases absenteeism in the workplace. reduces workplace satisfaction.
prevents employees from abusing sick days.
One of the three guidelines of training is that training ________. should be provided only at the initial stage of employment should be provided only if the employee seeks it should be provided only after an employee has been given ample time to use their skills should be thought of as an investment
should be thought of as an investment