1. Which one is not a side effect of incentive compensation? (a) Managers are sometimes paid due to luck. (b) Sometimes managers' contribution is not captured. ( c) Induce short-termism. (d) Managers are reluctant to take risk.
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- 2. Go over the main points of the expectation theory. What applications of this idea are there for managers?.) What is the difference between efficiency and effectiveness? Which is more important for performance? Can managers improve both simultaneously?2. How can you manage your expectations at work?
- 1. In this discussion forum we further explore the topic of rational actor paradigm, which asserts that individual managers respond rationally to their performance incentives. What if the incentive plan is misaligned with overall business objectives of the firm? The rational actor framework posits that the process will not produce desired outcomes because employees will respond rationally to the misaligned incentive structure. You are asked to apply this thought to sales personnel and the sales commission plans. Commission based compensation plans relies relatively more heavily on sales revenue and less on a base salary, while target-based compensation plans balance base salary alongside sales commissions. Consider the decision by management in selecting the right plan for their sales team. What if the company is in a “mature market” with longer sales cycles, unequal geographic potential, and sales is more of a team effort? In contrast, what if the company operates in a “high-growth…Explain how a manager’s risk aversion can affect decision making and how compensation plansshould be designed to deal with risk aversion.Even though Timna knows she does not ever want to be a manager, she should still consider taking a management course, because (Select all that apply.) Check All That Apply it will help her understand her managers' actions and decisions, which in turn will help her own career. she will be guaranteed to earn a higher salary than if she did not. it will help become a more well-rounded person. as a non-manager, she is likely to have the same responsibilities as a manager.
- 1. What three (3) personal values should a manager possess to improve the organization's success in achieving/fulfilling its primary purpose? 2. Assumptions are used by management methods such as the Logical Framework Approach (LFA), Cost-Benefit Analysis, and Cost-Effectiveness Analysis to provide inputs for managerial decisions and actions. What is the logic of employing an assumption in coming up with or creating inputs for management decisions and actions, given that it is not guaranteed to hold? Is there any way to avoid making assumptions?Why should policymakers think about incentives? Discuss the need for managing the resources. 1.Scenario 32: Overworked Employees You get to work and are shocked when an employee throatens to quit They state that they didntexpoct the job to be so much work and it hos limited their obility to see their tamily, You realize yourself that you have missed many events at home. You apologize and osk them to give you 24-hours to create a stronger plan that allows for everyone to hove a better work-life balance. Rhos become opparont that you have only focused on the business needs ond need to spond more time looking et the other areas of the business. Check each of the octions thot con be taken to make stotfing inventory. operations, floor space and sales more efficient while olso managing your staff's personali needs from the st bolow Create new policies around work time and time off Delegate and assign tasks equally to create efficiency Involve Staff in planning work expectations Hire appropriate levels of staff to meet the business needs CLOSE STORE
- from the stament do you agree that managers should not be able to hire whomever they want ? Managers should not be able to hire whomever they want especially if there is a particular level that is needed within the company and their company needs. I agree that a manager should be able to hire someone that they feel would be the best fit for what they are looking for. I think that everyone should most definitely have a chance or an opportunity to prove themselves that they are capable of upholding the needs of the company. I think that if managers hire just anyone and then they might get themselves in a situation that may need to make sure that those agents or employees are up-trained enough to ensure that their needs are met. When we go down this route, we have to make sure that the employees have retained the information and the expectations that are needed to do the job at hand. I feel like managers who make sure that their expectations are clear and precise so they know the type…6 Explain the fundamental types of managerial incentive schemes available in the principal-agent relationship. Which of these types is preferred? Justify your answer with an appropriate example.1. Identify how each bias can impact a manager when they are performing a performance appraisal. a) How can the bandwagon bias/ effect impact a manager when they are performing a performance appraisal? b) How can the confirmation bias impact a manager when they are performing a performance appraisal? c) How can the outcome bias impact a manager when they are performing a performance appraisal? d) How can the Placebo bias impact a manager when they are performing a performance appraisal?