Question 1

You are the CEO of Blue Bay Motor Boat Company,a mid-size firm that manufactures speed boats.What incentive plan would you implement for the firm's engineers? What incentive plan would you implement for the firm's managers?

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Question 2

Explain the advantages and disadvantages of using piecework as a pay plan.

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Question 3

What is the Sarbanes-Oxley Act? How does it affect incentive plans? Do you support the legislation? Why or why not?

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Question 4

Briefly describe Vroom's theory and its three components.How can managers use Vroom's theory as they develop effective incentive plans?

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Question 5

Explain the advantages of employee stock ownership plans.

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Question 6

Employers may award merit pay as traditional merit increases that increase an employee's base pay or as a lump sum merit raise.Explain the pros and cons of these two choices.

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Question 7

Sometimes managers need to reinforce positive behavior but cannot turn to a cash incentive to do so.Identify some positive reinforcement rewards that a manager could use on a day-to-day basis to reward employees.What does research suggest about the impact of financial and nonfinancial incentives on employees?

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Question 8

You are the manager of large used car retailer,and sales are sluggish.What incentive plan would be best for motivating your sales team? What steps should you take to ensure that your incentive plan is effective?

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Question 9

In a brief essay,discuss the difference between annual bonuses for employees and gainsharing plans.

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Question 10

List the basic steps in implementing a gainsharing plan.

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Quiz 12: Pay for Performance and Financial Incentives