What is a survey? What purpose does it serve in terms of compensation?
What will be an ideal response?
A survey is the systematic process of collecting and making judgments about the compensation paid by other employers. Translating any external pay policy into practice requires information on the external market. Surveys provide the data for translating that policy into pay levels, pay mix, and structures. An employer conducts or participates in a survey for a number of reasons: (1) to adjust the pay level in response to changing rates paid by competitors, (2) to set the mix of pay forms relative to that paid by competitors, (3) to establish or price a pay structure, (4) to analyze pay-related problems, or (5) to estimate the labor costs of product/service market competitors.
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The focus of a mission statement of an organization should be on:
a. supply chain management. b. internal operational procedures. c. anti-competitive strategies. d. the market the business serves.
Modified integrative bargaining is a term used to describe a process of negotiations where:
A. integrative bargaining is tried first and, if it fails, distributive bargaining takes place B. distributive bargaining occurs first and, if it fails, integrative bargaining takes place C. one or both parties says they will try integrative bargaining but don't really apply the principles D. integrative bargaining tactics are used simultaneously with distributive bargaining tactics
A company purchased 400 units for $20 each on January 31. It purchased 200 units for $30 each on February 28. It sold a total of 270 units for $90 each from March 1 through December 31 If the company uses the last-in, first-out inventory costing method, calculate the amount of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.)
A) $9,900 B) $23,100 C) $6,600 D) $330
Special rights often granted to preferred stock include a preference for receiving dividends and additional voting privileges.
Answer the following statement true (T) or false (F)