Question 1

List the basic steps in implementing a gainsharing plan.

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Question 2

Briefly describe Vroom's theory and its three components.How can managers use Vroom's theory as they develop effective incentive plans?

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Question 3

Explain the advantages of employee stock ownership plans.

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Question 4

What is the Sarbanes-Oxley Act? How does it affect incentive plans? Do you support the legislation? Why or why not?

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Question 5

Explain the advantages and disadvantages of using piecework as a pay plan?

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Question 6

In a brief essay,discuss the difference between annual bonuses for employees and gainsharing plans.

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Question 7

You are the manager of large used car retailer,and sales are sluggish.What incentive plan would be best for motivating your sales team? What steps should you take to ensure that your incentive plan is effective?

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Question 8

Sometimes managers need to reinforce positive behavior but cannot turn to a cash incentive to do so.Identify at least five positive reinforcement rewards that a manager could use on a day-to-day basis to reward employees.What does research suggest about the impact of financial and nonfinancial incentives on employees?

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Question 9

Employers may award merit pay as traditional merit increases that increase an employee's base pay or as a lump sum merit raise.Explain the pros and cons of these two choices.

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Question 10

You are the CEO of Blue Bay Motor Boat Company,a mid-size firm that manufactures speed boats.What incentive plan would you implement for the firm's engineers? What incentive plan would you implement for the firm's managers?

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Quiz 12: Pay for Performance and Financial Incentives