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Liberty University BUSI 342 Exam 3 Quiz 3 Test Complete Solution Correct Answer Key

Complete solution and answer key for Exam 3 and Quiz 3 in BUSI 342.

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    Liberty University BUSI 342 E xam 3 Q uiz 3 T est C omplete S olution C orrect A nswer K ey Careers are not predictably linear but cyclical As companies become larger, the benefits of informal succession planning become greater Anne ’ s supervisor is enthusiastic about introducing outdoor training into their organization. Anne is concerned that it may not be appropriate because of the physical nature of the training and the hazards involved. A number of Anne ’ s subordinates are over 50 and some are physically challenged. Anne ’ s concerns are realistic Talent management is growing in importance because it is concerned with the attraction. When an HR manager does career planning for a high - potential employee who has a spouse with a professional occupation, it would be a good idea to consult with both the employee and the spouse The career stage that hinders the job progression of many women with family responsibilities and blocks them from advancing to executive ranks is the late career stage. Succession planning focuses both on emergency replacements for critical positions and making sure that other successors will be ready with some additional development. Job loss as a career transition has been most associated with downsizing , mergers, and acquisitions. Phased - in retirement is generally used as a means of allowing older employees to gradually leave an organization. Succession planning should be done for all key jobs in the organization, even if they are low in the hierarchy The major purpose of 360 - degree feedback is to increase uniformity by soliciting like - minded views. The contrast error occurs when a rater scores an employee high on all job criteria because of performance in one area. The developmental function of performance appraisals can identify areas in which the employee might wish to grow An informal appraisal is used when a system is in place to report managerial impressions and observations on employee performance and feature a regular time interval Companies must only use multisource feedback primarily as an administrative tool Peer and team ratings are especially useful only when supervisors have the opportunity to observe each employe e’ s performance The performance management process starts by identifying the strategic goals an organization needs to accomplish to remain competitive and profitable. With the ranking method, the ratings of employees ’ performance are distributed along a bell - shaped curve. A major concern for managers in performance management is how to emphasize the positive

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    aspects of the employee ’ s performance while still discussing ways to make needed improvements . In the performance - driven organizational culture, employee rewards vary little from person to person and are not much based on individual performance differences The compa - ratio is calculated by dividing the individual ’ s pay rate by the lowest point in the pay range Not having to pay social security, unemployment, or workers ’ compensation costs to independent contractors offers major advantages to the employer The most common indirect compensation is employee benefits. Compliance with FLSA provisions on employee compensation is enforced by the National Labor Relations Board. Match - the - market strategy is also called third - quartile strategy. The practice of using fewer pay grades with much broader ranges than in traditional compensation systems is called broadbanding Market banding groups jobs into pay grades based on similar market survey amounts The home - country - based approach compensates the expatriate at the same level as workers from the country where the expatriate has been sent from the headquarter Intangible rewards can be measured and it is possible to calculate the value of each reward A pay survey is a report based on research of compensation rates for workers performing similar jobs in other organizations. The straight commission system combines the stability of a salary with the performance aspect of a commission The most prevalent forms of organization - wide incentives are piece - rate systems, sales commissions, and individual bonuses Perquisites (Perks) are special benefits, usually noncash items, for executives A straight salary has no additional commission incentive, while a straight commission has all compensation tied to the incentive The salary - only approach is useful only when an organization emphasizes generating new sales and accounts. Employee stock ownership plan designed to give employees significant stock ownership by their employers The reason for giving compensation in the form of incentives is that it is thought to be effective in motivating employees and increasing corporate performance and stock values The advantage of a salary - plus - commission system is that it requires the sales representative to sell to receive any form of payment A draw is a system in which sales representative can draw advance payments against future commissions. The “ clawbacks ” provision in Civil Rights Act of 1964 allows a company to recover any incentive - based pay that was paid out during the prior three years if it would not have been paid under restated financial statements.

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