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Exam 13: Recognizing Employee Contributions With Pay

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Question 41

Multiple Choice

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Team awards differ from group bonuses in that they

A) are typically plant-wide group incentive programs.
B) make payments in company stock rather than in cash.
C) are more likely to use a broad range of performance measures.
D) encourage competition among individual employees to achieve higher bonuses.
E) give more importance to organizational performance than small groups' performances.

F) A) and B)
G) A) and C)

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Question 42

Multiple Choice

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________ is a type of incentive pay in which payments are a percentage of an organization's profits and do not become part of its employees' base salary.

A) Merit pay
B) Gainsharing
C) Group bonus
D) Profit sharing
E) Commission

F) B) and C)
G) All of the above

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Question 43

Multiple Choice

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Jewels & Co., a watch manufacturing company, provides wages to its employees based on the number of watches the workers assemble. The more the employees assemble, the more they earn. This type of plan is called a

An employee stock ownership plan denies employees the right to participate in votes by shareholders even if the stock is registered on a national exchange.

The Scanlon plan of gainsharing gives employees a bonus if the ratio of labor costs to the sales value of production is below a set standard.

QVT Financial, an auditing firm, distributes a portion of the profits resulting from improvements in productivity and efficiency among its employees. If the company enjoys an improvement of $45,000, 60 percent of the improvement is the company's share. The other 40 percent is distributed among the employees in the company. What is being exemplified in this scenario?

If a company distributes stock to employees by granting stock options, employees exercise the option when they

What are the implications of designing pay for organizational performance?

________ provides a method for rewarding performance in all of the dimensions measured in the organization's performance management system.

Under profit sharing, payments are a percentage of the organization's profits and become part of the employees' base salary.

What are the different types of pay for rewarding individual performance?

Franklin Appliances Inc. is an electrical appliances manufacturing company. It distributes shares of stock to its employees by placing the stock in a trust managed on the employees' behalf. What is Franklin Appliances using in this scenario?

Which statement is true of using stock options as incentive pay?

Define incentive pay and explain how it can motivate employees.

An employee at CellWorld who produces 10 phone components in an hour earns $9 ($0.90 ×10) per hour, while another employee who produces 15 components earns $13.50 ($0.90 ×15) . This is an example of a

When Airborne Aircraft acquired Bell Airplanes, the executives of the two companies identified key employees they needed for the combined companies' success. One of them was Patrick, the vice president of engineering. The executives offered Patrick a one-time bonus of $25,000 if he stayed with the company for 12 months following the acquisition. In this scenario, Patrick's $25,000 represents

Explain how employee stock ownership plans (ESOPs) differ from stock options.

By law, what is the minimum percentage of assets that an employee stock ownership plan (ESOP) must invest in its company's stock?

If employee participation in making pay-related decisions is encouraged in an organization, then

The ________ has required companies to more clearly report executive compensation levels and the company's performance relative to that of competitors.