Exam (elaborations)
chapter 5 MGMT 2103 UARK Questions with Accurate Answers
- Course
- Institution
chapter 5 MGMT 2103 UARK
[Show more]
Content preview
chapter 5 MGMT 2103 UARKPay structure - answerThe relative pay of different jobs (job structure) and how much
they are paid (pay level)
Pay level - answerThe average pay, including wages, salaries, and bonuses, of jobs in
an organization.
Job structure - answerThe relative pay of jobs in an organization.
Efficiency wage theory - answerA theory stating that wage influences worker
productivity.
Benchmarking - answerTechnique used to compare one organization's practices with
another, usually successful organization's practices.
Rate ranges - answerDifferent employees in the same job may have different pay rates.
Key jobs - answerBenchmark jobs, used in pay surveys, that have relatively stable
content and are common to many organizations.
Nonkey jobs - answerJobs that are unique to organizations and that cannot be directly
valued or compared through the use of market surveys.
Job evaluation - answerAn administrative procedure used to measure internal job worth.
Compensable factors - answerThe characteristics of jobs that an organization values
and chooses to pay for.
Pay policy line - answerA mathematical expression that describes the relationship
between a job's pay and its job evaluation points.
Pay grades - answerJobs of similar worth or content grouped together for pay
administration purposes.
Range spread - answerThe distance between the minimum and maximum amounts in a
pay grade.
Compa-ratio - answerAn index of the correspondence between actual and intended pay.
Delayering - answerReducing the number of job levels within an organization.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now