Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business 310 > Final Exam > Flashcards

Final Exam Flashcards

Get an A+ on the final exam.

1
Q

The ____________ sets minimum standards for pay and other conditions of employment.

A

Employment standards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The _______________ defines the rights of parties involved in a collective bargaining relationship.

A

Trade union legislation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

________________ prohibits discrimination in hiring or employment on the basis of race, ethnic origin, religion, gender, marital status, or age.

A

Human rights legislation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the main legal constraint on compensation strategy?

A

Tax legislation: contributes to the movement away from direct comp, towards indirect comp

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Name 3 types of constraints on compensation strategy?

A
  1. Labour market
  2. Product/service
  3. Financial
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the 5 stages of formulating the compensation strategy?

A
  1. Define required behaviour
  2. Define role of compensation
  3. Determine comp mix
  4. Determine comp level
  5. Evaluate proposed strategy
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What 3 types of behaviour do you have to assess when formulating the comp strategy?

A
  1. Membership behaviour
  2. Task behaviour
  3. Citizenship behaviour
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

List 3 examples of membership behaviour

A
  1. Turnover
  2. Absenteeism
  3. Loyalty
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

List 3 examples of task behaviour.

A
  1. Tasks are simple or complex
  2. Employees work under supervision
  3. Is high performance required?
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

List 3 examples of citizenship behaviour.

A
  1. How important is cooperation?
  2. Employee initiative makes a difference to org. performance
  3. Org. looks for employee feedback
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Defining the role of comp involves determining what kind of organization exists. What 3 styles of organization are there?

A
  1. Classical
  2. Human relations
  3. High-involvement
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

_____________ is a quantitative method that estimates the dollar value of benefits generated by an intervention based on the improvement it produces in worker productivity.

A

Utility analysis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are the 4 key criteria to consider when evaluating a proposed comp. strategy?

A
  1. Affordability
  2. Legality
  3. Employee attraction
  4. Equity and cost effectiveness
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the key concern when developing compensation strategy for expats

A

Make sure they are not losing out financially compared to home-country peers.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The ___________ method refers to a comp strategy that provides a standard of living comparable with an expat’s home country.

A

Balance sheet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

_____________ is the practice of paying expats the same comp as local nationals in equivalent positions.

A

Localization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

__________ is when various allowance amounts are paid directly in home-country currency.

A

Lump sum

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The ______________ is the practice of offering a higher compensation level because of undesirable aspects of the employment.

A

Compensating differential

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

List the 4 steps when conducting compensation surveys.

A
  1. Identify jobs to be surveyed
  2. Determine what info to collect
  3. Determine who to survey
  4. Determine how to collect data
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What are the 4 main collection methods for gathering data on compensation?

A
  1. Interviews
  2. Questionnaires
  3. Telephone interviews
  4. Internet surveys
21
Q

What 7 data points do you want to get from job surveying?

A
  1. Minimum
  2. Maximum
  3. Midpoints
  4. Mean base pay
  5. Performance pay
  6. Indirect pay
  7. Total compensation
22
Q

What are the 4 steps to interpreting survey data?

A
  1. Inspecting
  2. Draw inferences
  3. Examine pay range distribution
  4. Apply the data
23
Q

___________ occurs when a performance appraisal system produces the same scores even when applied by different appraisers.

A

Performance appraisal reliability

24
Q

___________ occurs when employees who receive the highest scores in performance appraisal system are the highest performers.

A

Performance appraisal validity

25
Q

__________ occurs when appraisers rate all employees as “average” in everything

A

Central tendency error

26
Q

__________ occurs when appraisers rate an individual either high or low on all characteristics because one characteristic is either high or low

A

Halo error

27
Q

__________ is the tendency of appraisers to overweight recent events when appraising employee performance.

A

Recency effect

28
Q

____________ is the tendency for a set of performance appraisals to be influenced upward by the presence of a very low performer or downward by the presence of a very high performer.

A

Contrast effect

29
Q

__________ is the tendency of appraisers to inflate the appraisals of appraisees they see as similar to themselves.

A

Similarity effect

30
Q

___________ is the tendency of many appraisers to provide unduly high performance appraisals.

A

Leniency effect

31
Q

____________ is the tendency of some appraisers to provide unduly low performance appraisals.

A

Harshness effect

32
Q

___________ is the tendency for the physical attractiveness of a ratee to affect their performance appraisal

A

Beauty effect

33
Q

________ is a type of ranking and forced distribution method that determines the rank order of all employees in a unit by comparing each employee with each of the other employees in the unit

A

Paired comparison

34
Q

__________ is a type of PA method that stipulates the distribution of employees across the performance categories.

A

Forced distribution method

35
Q

________ is an appraisal method in which appraisers use a numerical scale to rate employees on a series of characteristics.

A

Graphic rating scales

36
Q

____________ is an appraisal method that provides specific descriptors for each point on the rating scale, while in __________, appraisers rate the frequency of occurrence of different employee behaviours.

A

Behaviourally Anchored Rating Scales (BARS)

Behavioural Observation Scales (BOS)

37
Q

________ is a short period of direct observation of the job performance of the individual being rated, normally used for jobs that are not normally under direct observation (such as truck drivers and airline pilots)

A

Field review

38
Q

What sources of appraisal are most commonly used in 360-degree feedback?

A 
Superiors
Peers
Subordinates
Customers
Self
39
Q

What are 3 disadvantages of 360-degree feedback?

A
  1. Same issues as peer and subordinate ratings
  2. Complicated to set up
  3. Must be voluntary
40
Q

5 key elements of performance management.

A
  1. Goals
  2. Measures determine success
  3. Feedback
  4. Reinforcement
  5. Rewards
41
Q

The ___________ creates mechanisms for employee participation in developing productivity improvements and shares the financial benefits of those improvements with the employee group that generated them.

A

Scanlon plan

42
Q

The ___________ is similar to the scanlon plan but it expresses labour costs as a percentage of value added.

A

Rucker plan

43
Q

_________ focuses on labour hours per unit of output, and that does not usually include worker participation.

A

Improshare

44
Q

_____________ uses a variety of measures to determine the extent to which a bonus payout is justified.

A

Family of measures plan

45
Q

What are the 3 categories of goal-sharing plans?

A
  1. Single-goal
  2. Financially funded
  3. Multigoal
46
Q

What are the 6 main categories of employee indirect benefits?

A
  1. Mandatory benefits
  2. Retirement income
  3. Health benefits
  4. Pay for time not worked
  5. Employee services
  6. Miscellaneous benefits
47
Q

What is the difference between defined benefit plans and defined contribution plans?

A

DBP: provides retirement income based on a proportion of the employee’s pay at the time of retirement
DCP: provides retirement income based on the accrued value of employer and employee contributions to the plan

48
Q

5 steps to designing the benefit system.

A
  1. Determine role of indirect pay
  2. Choose process for plan design
  3. Identify benefits system and what will be included
  4. Determine structure of each benefit
  5. Develop procedures for admin, communicating and evaluating benefit system
49
Q

What are the 3 main types of benefit system analysis?

A
  1. Cost analysis
  2. Competitive analysis
  3. Benefits survey

Business 310 (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions