Briefly describe the concepts of job structure, pay levels, product market competition, and labor market competition.
What will be an ideal response?
Job structure is the stacking of the jobs in the organization from the lowest (simplest) to the highest (most complex) levels and is what gives us a job hierarchy. A pay level (frequently called a pay grade) will be made up of several different jobs. Pay levels provide a framework for the minimum and maximum pay for a particular group of jobs in the organization. Pay levels are then laid out one next to another in order to create the entire pay structure for the company. Product market competition sets the top of a pay level. We can only pay someone as much as we can recover from a customer when we sell our goods or services. We can’t pay more than the value added to the product or service by the labor. Together, product market and labor market competition identify the maximum and minimum rates of pay for a particular group of jobs in a pay level. Labor market competition sets the bottom of a pay level. We have to compete with other companies to attract labor, and if we don’t pay enough, we will be unable to attract the workers we need.
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In West Africa, Burkina Faso, the Ivory Coast and Senegal are former French colonies, while Nigeria, Sierra Leone, and Ghana are former British colonies. Based on this information, which of the following would be correct?
A) Burkina Faso, the Ivory Coast and Senegal are civil-code countries, while Nigeria, Sierra Leone, and Ghana are common-law countries. B) Burkina Faso, the Ivory Coast and Senegal are common-law countries, while Nigeria, Sierra Leone, and Ghana are civil-code countries. C) West Africa, the Ivory Coast and Senegal are the only common-law countries. D) All the West African nations mentioned are likely to be civil-code countries. E) All the West African nations mentioned are likely to be common-law countries.
Packaging aesthetics are particularly important to the ________ consumer
A) Indian B) Japanese C) French D) German E) American
The tendency for decision-makers to be influenced by the way a situation or problem is presented to them is known as the ________ bias.
A. overconfidence. B. escalation of commitment bias. C. hindsight. D. availability. E. framing.
Bert pushes Connie to the ground, grabbing her phone as she falls. The use of force or fear is required for this act to constitute
A. bribery. B. any crime. C. larceny. D. robbery.