Discuss how different organizational strategies affect wages and pay levels.
What will be an ideal response?
In determining wages and pay levels, managers should consider their organization's strategy. High wages help organizations recruit, select, and retain high performers; however, high wages also raise costs. Low wages give an organization a cost advantage but may undermine the organization's ability to select and recruit high performers and to motivate current employees to perform at a high level. Either of these situations may lead to inferior quality or inadequate customer service. A high pay level may prohibit managers from effectively pursuing a low-cost strategy. But a high pay level may be worth the added costs in an organization whose competitive advantage lies in superior quality and excellent customer service.
You might also like to view...
The best ______ often make the best speakers.
Fill in the blank(s) with the appropriate word(s).
A change from FIFO to LIFO in a period of rising prices will
a. decrease both the current ratio and the inventory turnover ratio. b. increase both the current ratio and the inventory turnover ratio. c. increase the current ratio and decrease the inventory turnover ratio. d. decrease the current ratio and increase the inventory turnover ratio.
An account, in its simplest form, is made up of which three parts?
a. a title, a debit side, and a credit side b. a title, an entry side, and a balance side c. a title, a credit side, and an entry side d. a title, a debit side, and a balance side
Arguments that labor unions intrude on property rights reflect:
A. Virtue ethical beliefs. B. Fairness ethical beliefs. C. Libertarian ethical beliefs. D. Duty ethical beliefs.