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Making the human side of management strategic Talent management – strategic deliberate approach to attracting new highly skilled workers and developing the abilities of existing employees to meet current and future organizational objectives (p. 277) Human capital – employee skills and experience gained by education and training that increase the ...

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“Slope” of pay-performance relationship drives incentives. Stronger if Incentives reinforce strategy more intrinsic motivation weak, effort is more costly to employee effort has more impact on firm value more “controllable risk” Evaluation is more effective less “uncontrollable risk” employee less risk averse measure has low distortion me...

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Vertical organization structure Characterized by hierarchical authority and communication channels Authority – implicit and explicit power that a manager or employee has to fulfill an organizational function or role Chain of command – predefined structural order of authority that determines how decisions are made and communicated

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Definition: An excise tax (or a specific tax) is an amount paid by either the consumer or the producer per unit of the good at the point of sale. (The amount paid by the demanders exceeds the total amount received by the sellers by amount T)

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A useful way to think about these is the Scope of a measure narrow measures focus on fewer aspects of performance; broad on more ex: department v. firm profit You face a key tradeoff we might use a narrow measure only because it reduces risk broad measures: more controllable risk, distort less, harder to manipulate use broader measures in les...

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Organizational, divisional, and functional strategies are documented using business, tactical, and operational plans, respectively Business plan – stated actions and goals that support the organizational strategy (p. 230) Tactical plan – stated actions and goals that support achieving the divisional strategy Operational plan – stated actions and...

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For the following, the short run is the period of time in which the firm’s plant size is fixed and the number of firms in the industry is fixed. STC(Q) = SFC + NSFC + TVC(q) for q > 0 STC(Q) = SFC for q = 0

57 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 1371 | Lượt tải: 0

Standing plans (p. 211) Designed for repeated use in response to commonly occurring events Policy – describes how an organization and its members should respond to recurring or anticipated situations Procedures – provides the specific steps to be taken as part of a recurring process or in response to a recurring situation Rules and regulations ...

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Definition: The long run total cost curve shows minimized total cost as output varies, holding input prices constant. Graphically, what does the total cost curve look like if Q varies and w and r are fixed?

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Considered worker-owned when significant proportion of shares is held by employees Influence may assist labor-management relations or “cause firm to deviate from efficiency” Labor co-operatives were common in the lumber industry Compared to similar, non-co-op firms, their growth was slower – may be due to labor costs Lumber cooperatives found ...

22 trang | Chia sẻ: huyhoang44 | Ngày: 20/03/2020 | Lượt xem: 900 | Lượt tải: 0