MANA 3320 Exam 3 Review
Questions with Correct Answers
what is job structure? - ANSWER-relative pay of jobs within firm, primary factor when
making internal comparisons
identify whether pay level and job structure is equitable for organizations? -
ANSWER-Pay level
- company 1: (40000+60000)/2=50000
-company 2: (45000+55000)/2=50000
Job structure:
-Job A compared to Job B: 40000 compared to 60000
-Job A compared to Job B: 45000 compared to 55000
what are the three factors involved in choosing a pay level? - ANSWER-product
market competition, labor market competition, and market pay surveys
what is the equal pay act of 1963? - ANSWER-men and women in the same firm
who do "equal work" must be paid equally
what is the "glass ceiling" phenomenon? - ANSWER-women do not attain the same
levels of seniority as men, because they do no get promoted with the same
frequency
What's holding women back, according to men and women? - ANSWER-lack of
management experience; women not in pipeline long enough; male stereotyping of
women; exclusion from informal networks
what are the three components that comprise expectancy theory? - ANSWER-
Expectancy, instrumentality, valence
what is expectancy in the expectancy theory? - ANSWER-effort will result in
performance
what is instrumentality in the expectancy theory? - ANSWER-performance will result
in outcomes
what is valence in expectancy theory? - ANSWER-outcomes will be valuable
from the lecture (and the video from Office Space), which of the three components
(of expectancy theory) is the most critical with respect to compensation - ANSWER-
valence
, what is merit pay, individual incentives, gainsharing, profit sharing, stock option plan
theories of? - ANSWER-theories of compensation
what is the merit pay theory? - ANSWER-increases to base salary depend on result
of individual employees' performance evaluation
what are the individual incentives theory? - ANSWER-attach bonuses to the
fulfillment of individual employees' accounting-based or MBO-based goals
what is the gainsharing theory? - ANSWER-attach bonuses to the fulfillment of unit
level MBO-based goals
what is the profit sharing theory? - ANSWER-attach bonuses to the organization's
level of profitability
what are the stock option plans theory? - ANSWER-employees are given the option
to buy stock at a locked-in price
performance measure for merit pay? - ANSWER-individual employees' performance
evaluation
performance measure for individual incentives? - ANSWER-individual employees'
accounting-based or MBO-based goals
performance measure for gainsharing? - ANSWER-unit level MBO-based goals
performance measure for profit sharing? - ANSWER-organization's level of
profitability
performance measure for stock option plans? - ANSWER-employees are given the
option to buy stock
payment method for merit pay? - ANSWER-increase salary
payment method for individual incentives? - ANSWER-bonuses of individual
payment method for gainsharing? - ANSWER-bonuses
payment method for profit sharing? - ANSWER-bonuses
payment method for stock option plans? - ANSWER-stock option
what are the two forms of commitment that contribute to decreasing intended
voluntary turnover? - ANSWER-organizational commitment; affective commitment;
continuance commitment
what is organizational commitment? - ANSWER-desire on the part of the employee
to remain a member of the organization
Questions with Correct Answers
what is job structure? - ANSWER-relative pay of jobs within firm, primary factor when
making internal comparisons
identify whether pay level and job structure is equitable for organizations? -
ANSWER-Pay level
- company 1: (40000+60000)/2=50000
-company 2: (45000+55000)/2=50000
Job structure:
-Job A compared to Job B: 40000 compared to 60000
-Job A compared to Job B: 45000 compared to 55000
what are the three factors involved in choosing a pay level? - ANSWER-product
market competition, labor market competition, and market pay surveys
what is the equal pay act of 1963? - ANSWER-men and women in the same firm
who do "equal work" must be paid equally
what is the "glass ceiling" phenomenon? - ANSWER-women do not attain the same
levels of seniority as men, because they do no get promoted with the same
frequency
What's holding women back, according to men and women? - ANSWER-lack of
management experience; women not in pipeline long enough; male stereotyping of
women; exclusion from informal networks
what are the three components that comprise expectancy theory? - ANSWER-
Expectancy, instrumentality, valence
what is expectancy in the expectancy theory? - ANSWER-effort will result in
performance
what is instrumentality in the expectancy theory? - ANSWER-performance will result
in outcomes
what is valence in expectancy theory? - ANSWER-outcomes will be valuable
from the lecture (and the video from Office Space), which of the three components
(of expectancy theory) is the most critical with respect to compensation - ANSWER-
valence
, what is merit pay, individual incentives, gainsharing, profit sharing, stock option plan
theories of? - ANSWER-theories of compensation
what is the merit pay theory? - ANSWER-increases to base salary depend on result
of individual employees' performance evaluation
what are the individual incentives theory? - ANSWER-attach bonuses to the
fulfillment of individual employees' accounting-based or MBO-based goals
what is the gainsharing theory? - ANSWER-attach bonuses to the fulfillment of unit
level MBO-based goals
what is the profit sharing theory? - ANSWER-attach bonuses to the organization's
level of profitability
what are the stock option plans theory? - ANSWER-employees are given the option
to buy stock at a locked-in price
performance measure for merit pay? - ANSWER-individual employees' performance
evaluation
performance measure for individual incentives? - ANSWER-individual employees'
accounting-based or MBO-based goals
performance measure for gainsharing? - ANSWER-unit level MBO-based goals
performance measure for profit sharing? - ANSWER-organization's level of
profitability
performance measure for stock option plans? - ANSWER-employees are given the
option to buy stock
payment method for merit pay? - ANSWER-increase salary
payment method for individual incentives? - ANSWER-bonuses of individual
payment method for gainsharing? - ANSWER-bonuses
payment method for profit sharing? - ANSWER-bonuses
payment method for stock option plans? - ANSWER-stock option
what are the two forms of commitment that contribute to decreasing intended
voluntary turnover? - ANSWER-organizational commitment; affective commitment;
continuance commitment
what is organizational commitment? - ANSWER-desire on the part of the employee
to remain a member of the organization
