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1. In the classic economic agency theory (principal-agent) model, an organization is represented in a highly stylized form in terms of a relationship among how many people? Two Three Four Five

1. In the classic economic agency theory (principal-agent) model, an organization is represented in a highly stylized form in terms of a relationship among how many people? Two Three Four Five

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Motivating, Inspiring, and Leadership 1. In the classic economic agency theory (principal-agent) model, an organization is represented in a highly stylized form in terms of a relationship among how many people? Two Three Four Five 2. Chester Barnard, author of The Functions of the Executive and also a real, practicing executive, arrived at which of the following conclusions, in his final analysis, about incentives as a way of motivating people? Incentives are not the only way, but they are the best way of motivating people. Monetary payments are really the only reliable way of motivating people. They are not morally defensible, in the long run. They have significant limitations as a way of motivating people.
Transcribed Image Text:Motivating, Inspiring, and Leadership 1. In the classic economic agency theory (principal-agent) model, an organization is represented in a highly stylized form in terms of a relationship among how many people? Two Three Four Five 2. Chester Barnard, author of The Functions of the Executive and also a real, practicing executive, arrived at which of the following conclusions, in his final analysis, about incentives as a way of motivating people? Incentives are not the only way, but they are the best way of motivating people. Monetary payments are really the only reliable way of motivating people. They are not morally defensible, in the long run. They have significant limitations as a way of motivating people.
3. Ouchi suggests as an alternative to incentives and organizational authority which of the following means of motivating employees to work on behalf of the organization? Threats and fear. Clan mechanisms. Tribal warfare. Persuasive rhetoric. 4. What is the essence of the problem with incentives based on traditional economic models, according to Palepu and also the lecture about the problems with economic models? The payments schedules they explicitly recommend, which increase with some kind of measure of performance, are exactly the kind of schedules that have been observed to result in employee "gaming" and dysfunctional activities. They recommend using penalties, but not rewards. They result in incentive that are not strong enough for real situations. They are not mathematically rigorous enough.
Transcribed Image Text:3. Ouchi suggests as an alternative to incentives and organizational authority which of the following means of motivating employees to work on behalf of the organization? Threats and fear. Clan mechanisms. Tribal warfare. Persuasive rhetoric. 4. What is the essence of the problem with incentives based on traditional economic models, according to Palepu and also the lecture about the problems with economic models? The payments schedules they explicitly recommend, which increase with some kind of measure of performance, are exactly the kind of schedules that have been observed to result in employee "gaming" and dysfunctional activities. They recommend using penalties, but not rewards. They result in incentive that are not strong enough for real situations. They are not mathematically rigorous enough.
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