Management Studies
Final Test Solutions
Course Introduction
Management Studies is an interdisciplinary course that examines the principles, concepts, and practices essential to the effective administration of organizations. Covering key areas such as planning, organizing, leading, and controlling, the course explores both traditional and contemporary approaches to management. Students learn about organizational structure, human resource management, strategic decision-making, leadership, communication, and the role of technology and globalization in modern management. Through case studies and real-world applications, the course aims to equip students with analytical, problem-solving, and leadership skills necessary for successful management careers in a variety of sectors.
Recommended Textbook
Strategic Compensation in 6th Canada Edition by Richard Long
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13 Chapters
591 Verified Questions
591 Flashcards
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Chapter 1: A Road Map to Effective Compensation
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46 Verified Questions
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Sample Questions
Q1) A reward strategy is the plan for the mix of rewards to be provided to organization members along with the means through which they will be provided.
A)True
B)False
Answer: True
Q2) The compensation system typically refers to which aspect of the reward system?
A) the mix of intrinsic and extrinsic rewards
B) the economic or monetary part
C) the entire spectrum of rewards
D) incentives
Answer: B
Q3) Which of the following best explains intrinsic rewards?
A) Intrinsic rewards focus on increasing an employee's financial position.
B) Intrinsic rewards are provided by job content.
C) Intrinsic rewards provide security and employee services.
D) Intrinsic rewards relate to bonuses based on performance.
Answer: B
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Chapter 2: A Strategic Framework for Compensation
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Sample Questions
Q1) An organization's domain is simply another term for managerial strategy or plan.
A)True
B)False
Answer: False
Q2) What are the five contextual variables and why are they important?
Answer: Determined by organizational goals,the five contextual variables are the organization's task environment and domain,corporate strategy,technology,organization size,and work force.These factors in the firm's context determine the most appropriate managerial strategy and structure for the organization (which includes the reward system).A change in any factor may trigger a need to change the managerial strategy and the structural variables.
Q3) An organization's vision refers to its long-term,optimal desired state.
A)True
B)False
Answer: True
Q4) Group and organizational pay systems characterize firms that use a classical managerial strategy.
A)True
B)False
Answer: False
Page 4
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Chapter 3: A Behavioural Framework for Compensation
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Sample Questions
Q1) Reward dissatisfaction can result from perceived inequity.
A)True
B)False
Answer: True
Q2) The three key employee behaviours that may be desired by employers are membership,task,and citizenship.
A)True
B)False
Answer: True
Q3) At a unionized firm,workers went on strike even after management offered them a two percent increase in pay.The union representing the workers said that the proposed increase did not match the workers' contributions to the firm.What type of reward problem is evident in this situation?
A) failure to produce the desired behaviour
B) production of the desired behaviour and undesirable consequences
C) production of reward dissatisfaction
D) lack of task behaviour
Answer: C
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5
Chapter 4: Components of Compensation Strategy
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Sample Questions
Q1) Briefly describe the three main categories of performance pay,and provide examples for each category.
Q2) Pay for knowledge systems are beneficial for organizations that require great task flexibility from their labour force.
A)True
B)False
Q3) Which statement best explains the reason for the decrease in popularity of "defined benefit plans" by employers in Canada?
A) There has been increased longevity of employees.
B) Defined benefit plans are simply not popular among employees.
C) They help organizations plan more accurately; hence,they make it easier to fund these liabilities.
D) Employers believe defined contribution plans are much more unpredictable from a funding perspective.
Q4) Briefly discuss the advantages and disadvantages of using indirect pay.
Q5) Competitive pressure may force some firms to provide indirect pay.
A)True B)False
Q6) Identify and briefly describe the issues in developing a skill-based pay system.
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Chapter 5: Performance Pay Choices
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Sample Questions
Q1) What is a key advantage of piece rate pay systems?
A) They reduce the need for external control of employees through supervision.
B) They create team work.
C) They link pay to group effort.
D) They encourage "rate busters."
Q2) In the public sector,what is one factor that should be considered when designing merit pay?
A) role of consultants
B) role of unions
C) pay mix with profit sharing
D) pay mix with stock options
Q3) Employee stock plans are often used by companies using a classical management strategy
A)True
B)False
Q4) Discuss the nature of suggestion systems and some of the problems you need to be aware of.
Q5) Identify and briefly explain the nature of individual performance pay plans.
Q6) There are three types of profit-sharing plans discussed in the textbook.Identify and briefly explain each of them.
Page 7
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Chapter 6: Formulating the Reward and Compensation Strategy
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Sample Questions
Q1) Trucks Are Us Ltd.is a British-Columbia-based trucking company providing long-haul services across Canada.Which level of government has the primary responsibility for passing labour-related legislation covering employees of Trucks Are Us Ltd.?
A) British Columbia and other provinces in which Trucks Are Us Ltd.operates
B) British Columbia government
C) municipalities and provincial governments in which Trucks Are Us Ltd.operates
D) federal government
Q2) Briefly describe the five main steps in the formulation of compensation strategy.
Q3) A "lead-the-market" compensation policy should be deployed only in situations when organizations face very tight labour markets.
A)True
B)False
Q4) Lag strategies are cost-effective for which type of firms?
A) firms that are labour-intensive
B) firms needing to attract top-quality applicants
C) firms that value employee stability
D) firms that invest heavily in training and development
Q5) Briefly summarize the legislative framework that compensation must comply with.
Page 8
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Chapter 7: Evaluating Jobs: the Job Evaluation Process
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Sample Questions
Q1) Which of the following practices can NOT be used to achieve pay equity?
A) Pay levels for male comparator jobs will be lowered.
B) All positions in a job class will receive adjustments in dollar terms.
C) Each female job class must receive a yearly adjustment until pay equity is achieved.
D) Inequitable female job classes with the lowest job rate must receive a greater adjustment.
Q2) Of the four main methods used to conduct job analysis,interviews and questionnaires are by far the most effective when dealing with organizations that do not currently have examples of jobs to be reviewed.
A)True
B)False
Q3) Which job analysis method is used for organizations that are being created or when new jobs are introduced?
A) observation
B) interviews
C) questionnaires
D) functional job analysis
Q4) What should a job description contain if it is to be useful for job evaluation?
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9
Chapter 8: Evaluating Jobs: the Point Method of Job Evaluation
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Sample Questions
Q1) Identify and briefly describe the main steps in developing a job evaluation system using the point method.
Q2) Assume that options (a),(b),(c),and (d)below represent degree 1,2,3,and 4,respectively,for the formal education factor on your summary rating chart for the point method of job evaluation.Based on the degree definitions,which of the following degrees is arranged out of place on the chart?
A) degree 1: completion of high school
B) degree 2: one year of post-secondary education
C) degree 3: three year college diploma or university degree
D) degree 4: completion of grade 9
Q3) One possible solution to excessive pay scale overlaps is to ensure that the maximum pay in a lower scale is less than the midpoint of the next higher pay scale
A)True
B)False
Q4) The two methods for deriving factor weightings are statistical analysis and expert judgment.
A)True
B)False
Page 10
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Chapter 9: Evaluating the Market
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Sample Questions
Q1) What is NOT a main step in conducting a proper compensation survey?
A) identifying jobs to be surveyed
B) identifying employees to be surveyed
C) determining the information needed
D) determining how you will collect the data
Q2) The compa-ratio is calculated by taking the average pay of all employees holding a particular job title and then dividing this by the midpoint of the pay range for that job.
A)True
B)False
Q3) You have determined that the lowest-paying employer pays it secretaries a mean total compensation of $30,000,and the highest-paying employer pays its secretaries a mean total compensation of $42,000.What is the dispersion in secretarial compensation across firms?
A) 12 percent
B) 25 percent
C) 40 percent
D) 50 percent
Q4) Briefly discuss some of the limitations of compensation surveys.
Q5) Discuss some of the advantages and disadvantages of in-house surveys.
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Chapter 10: Evaluating Individuals
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Sample Questions
Q1) What is the first issue to decide when designing a merit pay system?
A) the objectives of the system
B) the amount of money to be distributed
C) how appraisals will be linked to pay
D) the methods to appraise employee performance
Q2) Which statement would you NOT associate with a multisource/360-degree feedback process?
A) They tend to be seen by recipients as fair.
B) They are more accurate than single-source processes.
C) They tend to be more effective when results are linked to merit pay.
D) They are more credible to the recipient.
Q3) Which performance appraisal method could be described as "win-lose," creating a situation whereby in order to improve his/her standing,an employee has to displace another team or department member?
A) graphic rating scale
B) paired comparison method
C) forced distribution
D) field review
Q4) Define and describe the key elements of performance management.
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Chapter 11: Designing Performance Pay Plans
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Sample Questions
Q1) The authors identified eight major issues that should be considered when designing a gain-sharing plan.Which potential issue is NOT identified by the authors of the textbook?
A) making a decision on the bonus plan
B) making a decision on frequency of payouts
C) making a decision to use a fixed or discretionary plan
D) making a decision on how to communicate results
Q2) Which condition makes a gain-sharing plan NOT viable and requires you to consider another option?
A) No valid historical benchmark can be set.
B) Employee involvement is not an integral part of the system.
C) The plan involves large expenditures to implement.
D) Employees receive only 50 percent of the share.
Q3) Full-time employees at ABC Company are given the opportunity to purchase company stock at a future time at a fixed price.What type of performance-based pay is ABC Company using?
A) stock option plan
B) stock purchase plan
C) stock bonus plan
D) phantom share plan
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Chapter 12: Designing Indirect Pay Plans
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Sample Questions
Q1) What benefit system provides employees with the choice between two or more fixed plans?
A) modular benefits plan
B) "core" benefits plan
C) flexible benefits plan
D) "Beneflex" plan
Q2) From an employee's point of view,what advantage do defined contribution plans have over defined benefit plans?
A) The employer assumes the risk of investments.
B) They tend to be more portable.
C) They provide a higher pension for those who join the company later in life.
D) Risk is averaged over a large group of employees.
Q3) Research shows that satisfaction with a benefits plan declines as employees learn more about it.
A)True
B)False
Q4) Firms with pension plans have higher turnover rates among employees.
A)True
B)False
Q5) Identify and briefly explain the most common and important employee services.
Page 14
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Chapter 13: Activating and Maintaining an Effective Compensation System
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Sample Questions
Q1) Which statement does NOT support the notion of outsourcing some human resource functions to third-party service providers?
A) It provides internal staff with a better sense of issues facing employees.
B) It reduces costs.
C) It leverages the specialized knowledge of external experts.
D) It allows internal staff to focus on strategic human resource activities.
Q2) What is a major issue for most organizations when planning for information technology?
A) whether to use computers
B) whether to use consultants
C) how advanced the system should be
D) whether to protect employee privacy
Q3) In the bottom-up approach to compensation budgeting,a budgeted amount is allocated to compensation and given to department managers for distribution to their employees.
A)True
B)False
Q4) Identify the four key aspects that need to be considered in planning for compensation administration.
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Q5) Identify the tasks involved in preparing to implement a compensation system.