MIE 330 Exam 4 Questions With Complete Solutions
Agency Shop Correct Answers Employees dont have to join
union but must pay union dues
Allocating Merit increases Correct Answers -Manager is given
merit budget for department
-Percentage of salary budget. 500,000 salary budget with 3%
pool = 15,000 merit pool
Alternatives to Strikes Correct Answers Mediation, fact finder,
arbitration
Arbitration Correct Answers Arbitrator or board determines a
binding settlement
Balance Sheet for Expatriate Compensation Correct Answers
Home Country Salary--> Host-Country Costs--> Host-Country
costs paid by company and salary--> home-country equivalent
purchasing power
Balanced Scorecard Correct Answers combination of
performance measures directed towards the company's long and
short term goals and used as basis for awarding incentive pay
1.Financial
2.Customer
3.Internal
4.Learning and Growth
Bargaining over New Contracts Correct Answers Includes
establishing objective for contract, reviewing old contract,
, gathering data, predicting likely demands, establishing cost of
meeting demands
Benchmarking Correct Answers procedure where org compares
its own practices against those of successful competitors
Benefits required by law Correct Answers -Social Security
-Unemployment Insurance
-Workers comp insurance
-Family and medical leave
-Health care
Checkoff Provision Correct Answers Contract provision under
which employer, on behalf of union, automatically deducts
union dues from employee paychecks
Child Labor Correct Answers -Age 16/17 may not be
employed in hazardous occupations
-Age 14/15 may work only outside school hours
- 14 and under cannot work
Closed Shop Correct Answers Outlawed in 1947, requires
companies to only hire union members
Collective Bargaining Correct Answers Negotiation between
union reps and management reps to arrive at contract conditions
for the term of contract and to administer contract including pay,
benefits, rules, resolution to grievances
Compa Ratio Equation Correct Answers Average pay/Midpoint
Agency Shop Correct Answers Employees dont have to join
union but must pay union dues
Allocating Merit increases Correct Answers -Manager is given
merit budget for department
-Percentage of salary budget. 500,000 salary budget with 3%
pool = 15,000 merit pool
Alternatives to Strikes Correct Answers Mediation, fact finder,
arbitration
Arbitration Correct Answers Arbitrator or board determines a
binding settlement
Balance Sheet for Expatriate Compensation Correct Answers
Home Country Salary--> Host-Country Costs--> Host-Country
costs paid by company and salary--> home-country equivalent
purchasing power
Balanced Scorecard Correct Answers combination of
performance measures directed towards the company's long and
short term goals and used as basis for awarding incentive pay
1.Financial
2.Customer
3.Internal
4.Learning and Growth
Bargaining over New Contracts Correct Answers Includes
establishing objective for contract, reviewing old contract,
, gathering data, predicting likely demands, establishing cost of
meeting demands
Benchmarking Correct Answers procedure where org compares
its own practices against those of successful competitors
Benefits required by law Correct Answers -Social Security
-Unemployment Insurance
-Workers comp insurance
-Family and medical leave
-Health care
Checkoff Provision Correct Answers Contract provision under
which employer, on behalf of union, automatically deducts
union dues from employee paychecks
Child Labor Correct Answers -Age 16/17 may not be
employed in hazardous occupations
-Age 14/15 may work only outside school hours
- 14 and under cannot work
Closed Shop Correct Answers Outlawed in 1947, requires
companies to only hire union members
Collective Bargaining Correct Answers Negotiation between
union reps and management reps to arrive at contract conditions
for the term of contract and to administer contract including pay,
benefits, rules, resolution to grievances
Compa Ratio Equation Correct Answers Average pay/Midpoint
