Reference no: EM131244959
Exam: 10 Questions
Exam Instructions: Students should individually complete the following exams questions with no help from anyone. This is not group work.
Answers should be thorough and complete with a minimum of 200 words per answer, but can be as long as needed. Fully justify your answers. Answer all parts of each question and be careful not to go below the word count.
1. What is strategic compensation? Together, both intrinsic and extrinsic compensation describe a company's overall compensation system. Describe both types of rewards.
2. Compensation professionals promote effective compensation systems by meeting important goals: internal consistency, market competitiveness, and recognition of individual contributions. Define and discuss all three of these goals.
3. Summarize the key provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA).
4. How can empowering employees help strengthen the pay-for-performance link?
5. How can companies minimize discriminatory performance appraisal practices? List and discuss all the ways.
6. How do traditional pay methods differ from incentive pay methods? Define individual, group, and companywide incentive plans and give examples of each.
7. What is person-focused pay and when is it best used?
8. O*Net is the U.S. Department of Labor's Occupational Information Network. What is this network and what value does it have for an organization? Go to www.onetonline.org and do an "Occupational Quick Search" for a career that you are interested. Name this career and discuss briefly what you found about it.
9. Explain the three reasons why companies often choose not to develop their own compensation surveys rather than using established surveys.
10. What is pay compression and how can companies minimize the occurrence of it?
|
Compute intrinsic values and time values
: The following option prices are given for Yum Inc, whose stock price equals $50: Compute intrinsic values and time values for each of these options and identify whether they are in the money, at the money, or out of the money
|
|
Describe your unique selling proposition
: Briefly describe two (2) products (goods or services) offered at a business you are familiar with. Next, identify two (2) major competitors and describe the two (2) products they offer that compete with yours.
|
|
How can impact of announcement be included in the proposal
: Two contractors decide to enter into a joint venture on a project. What difficulties can occur if the contractors have decided on who does what work, but changes may take place if problems occur? What happens if one contractor has higher salary le..
|
|
Determine the target customer and market
: Determine the target customer/market(s) that the vehicles in each of these ads would appeal to. In your post, give information about each target group. It could include information related to age, lifestyle values, attitudes, wants and needs, gend..
|
|
How traditional pay methods differ from incentive pay method
: How do traditional pay methods differ from incentive pay methods? Define individual, group, and companywide incentive plans and give examples of each.
|
|
How can transition costs be identified in strategic model
: The evaluation for the award of the second phase will not be made until the first phase is near completion. How can the transition costs be identified in the strategic planning model?
|
|
Discuss the key drivers for the hedonic value you sought
: Discuss at least three Internal Influences from the CVF that drove your concentration selection and how they impacted and influenced your selection. Discuss at least three External Influences from the CVF that drove your concentration selection an..
|
|
Determine manpower planning for the entire company
: Which of the figures presented in this chapter should program management make available to the functional managers? Explain your answer.
|
|
Discuss ethical issues raised by watson and rayners
: Discuss the ethical issues raised by Watson and Rayner's "Little Albert" study. Discuss what could be done to address some of these ethical concern.
|