Strategic Compensation in Canada, 7e Parbudyal Sin
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Strategic Compensation In Canada, 7e Parbudyal Sin
Strategic Compensation in Canada, 7e Parbudyal Singh, Richard Long (Test Bank)
Strategic Compensation in Canada, 7e Parbudyal Singh, Richard Long (Test Bank)
Strategic Compensation in Canada, 7e Parbudyal Sin
Strategic Compensation in Canada, 7e Parbudyal Sin
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Chapter 1 1. Chapter 01 -001 There is no one best compensation system that fits all firms. *a. True b. False 2. Chapter 01 -002 An effective compensation system is important to most organizations because it can mean the difference between company success and failure. *a. True b. False 3. Chapter 01 -003 The main similarity between extrinsic rewards and intrinsic rewards is that they both satisfy so -called higher order needs such as survival and security. a. True *b. False 4. Chapter 01 -004 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 5. Chapter 01 -005 Compensation strategy includes the â €œhow†and “how much†in terms of compensation to be paid. *a. True b. False (Strategic Compensation in Canada, 7e Parbudyal Singh, Richard Long)
(Test Bank, Correct Answer are marked with*) 7. Chapter 01 -007 A compensation system has two components: base pay and performance pay. a. True *b. False 8. Chapter 01 -008 The optimal compensation system is one that adds the most value to t he organization, after considering all its costs. *a. True b. False 9. Chapter 01 -009 There is often one so -called best compensation system that applies to a broad spectrum of organizations. a. True *b. False 10. Chapter 01 -010 According to t he "Road Map to Effective Compensation," the first step is formulating your reward and compensation strategy. a. True *b. False 11. Chapter 01 -011 Which of the following statements is supported by evidence in the textbook? a. Canadian f irms spend 50 to 80 percent of their capital budgets on compensation. b. Properly designed compensation systems usually promote unproductive behaviour. c. Reward systems should be static and rarely reviewed. *d. Canadian firms spend 40 to 70 percent of their operating budgets on compensation. 12. Chapter 01 -012 Which of the following statements most accurately describes extrinsic rewards? a. They focus on factors inherent in the work itself -the job content . b. They satisfy higher -order human needs . *c. They include monetary and nonmonetary rewards and come from the job context . d. They involve skill variety, task identity, task significance, autonomy, and feedback. 13. Chapter 01 -013 Jackson, a service manager, loves his job. He particularly appreciates the level of autonomy his job provides. From a rewards perspective, which kind of reward appears to be motivating Jackson? a. Extrinsic b. Incentives *c. Intrinsic d. Compensation 14. Chapter 01 -014 Compensation means different things to differen t stakeholders. For shareholders, what is an important consideration? a. take-home pay of employees b. effectiveness of the compensation system in attracting employees *c. financial value of the compensation system to the firm’s bottom lin e d. fairn ess of the compensation system 15. Chapter 01 -015 As a small business owner committed to the total rewards approach to compensation, what do you need to establish before you start to develop your compensation system? a. a reward system b. an incenti ve program c. a compensation strategy *d. a reward strategy 16. Chapter 01 -016 Which item is considered part of a compensation system? *a. performance pay b. flexible work schedules c. positive organizational culture d. work/life prog rams 17. Chapter 01 -017 Which of the following best describes the term â €œreward strategyâ €? a. the means through which performance bonuses are paid *b. the mix of rewards provided to organization members c. the means for recognizing outstanding a chievement d. the means for identifying the key contextual variables for an organization 18. Chapter 01 -018 An owner of an enterprise asks you to describe the major components of a compensation system. What would you exclude from your description? a. base sala ry b. performance pay c. employee benefits *d. flexible work schedules and some element of job autonomy 19. Chapter 01 -019 Which of the following best explains intrinsic rewards? a. Intrinsic rewards focus on increasing an employeeâ €™s financial p osition. *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.
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