“Job security remains lower than its pre-recession level”Graph title: “Aged from … to … years”Numbers for those 30 years old and younger: < ~14%Best 3 Occupations (smallest wage gap):Respiratory TherapistsWorst 3 Occupations (largest wage gap):Property, Real Estate, and Community Association ManagersMAN324 Organizational Behavior EXAM 1 Study GuideThe test will have 33-35 questions. The study guide asks you to know information for 45questions. Know all 45! You need to know the specifics, not the generalities. 1) What are the basic ideas presented in the “Ripple Effect” video? What industrieswere mentioned as affected, both directly and indirectly?When someone is laid off, they can’t keep up with some luxuries they might have been used to (i.e. having Sunday brunch at a fancy restaurant). Industry affected that was used as an example in the video: Red Stone Grill. Fewer customers at the restaurant = fewer tips for the waiters/bartenders. This affects them too (waiters/bartenders), because they now no longer have money for things they might need like their dog handlers. Those dog handlers also now have to cut back on some luxuries they used to have. Fewer customers = restaurant has to cut back on orders (like meat) from companies like Allen Brothers. Because of this, the premium meat supplier has to lay off 5% of its butchers and truck drivers. 2) Be able to discuss the changes in individual savings patterns during the most recessionary period.Greed and fear is a bad combination, especially when you add stupid. The combination ofthese three = tragedy. When you really, really want something and when you’re really scared… not the best time to make decisions. People known for this: bankers, government, etc. Impractical, illogical decision-making. Layoffs, downsizing, set backs, less travel opportunities, less unnecessary purchases. If you don’t have the money for it, don’t spend it! Live within your means. 3) What have been the trends in multigenerational housing over the years? What predictions are given for where this trend will go in the years to come as projected?There has been a great increase in multigenerational households as of late. Economy is intheir favor and people are aging (living longer) and need to be taken care of. Expected in year 2025, about 1/3 of households will be multigenerational.4) Understand the general findings from the Time Magazine article claiming that mothers are “Tougher on Kids During Recession”.Author contends that an uptick in strict maternal behavior stems more from anticipation of hard times rather an actual exposure. Uncertainty makes people more agitated and difficult to live with. Mothers treated their children harsher for each 10% increase in the unemployment rate in the city where they resided. Stress, stress and more stress! Pervasive influence it has on families. 5) Know the factors that have caused more and more middle-class families to end uphomeless.- Layoff for jobs with few alternatives- Multiple family commitments (divorce/kids)- Most people don’t have enough savings for the rough patches- Perceived as overqualified for many jobs- Used to have decent insurance… not now.- Kids/daycare/expenses… $50 a day doesn’t cut it- “Gimme that house back… the one that you couldn’t afford in the first place!”6) A number of reasons have been given for companies failing to hire more workers even though it may seem that they are in a position to do so. What were the factors discussed?- Seem to be doing okay with what we have, so why take on more expense?- Trimmed a lot of fat in the past few years and got better at things- Earnings may sound good, but everything is relative- Uncertainty—about another recession. Debt, wars, value of the dollar etc.- Uncertainty—in the government with healthcare, fiscal policy, taxes etc.- Uncertainty—Personal spending, big component of the American economy, you never really know what you need until it happens (unforeseen company expenses). - “Can I get it cheaper elsewhere?”- “Don’t want to go through that ______ again!” (Like laying off people again)- UNCERTAINTY, UNCERTAINTY, UNCERTAINTY! People don’t like it.Companies won’t move unless they know what they’re going to do will benefit them in the end. Otherwise, they’ll just sit on their hands and not take any risks. 7) What factors caused Detroit to file for bankruptcy in the past year as noted in thevideo?City saddled $18.5 billion in debt, this was decades in the making. Population here has been declining: 1.5 million in 1950 to 700,000 people today. This means less people are paying taxes. There was also the downfall of the auto industry, and tax collection corruption.8) How does the recession currently influence what goes on at work despite the fact that it allegedly ended several years ago? What were the findings of recent survey? Just know the findings, not the numbers.Recession-related stress is still contributing to the workers’ dissatisfaction and frustrationwith work, feelings of isolation, pessimism about the future of their companies, career disappointment, job anxiety and burnout, and perceptions that co-workers are overly political and self-serving. “Still work harder as a result of the recession in their organization.”“Still must do more with less due to the recession.”“Management still cuts them less slack when compared to pre-recession levels”“Job security remains lower than its pre-recession level”“Management is stingier than before the start of the recession. “9) The recession has caused many to question the importance of work relative to the other aspects of life. In this regard, what information did the Christian Sciences Monitor article provide in support of such a claim. People have put great “stock” in work that they often miss important things like piano recitals, little league games, etc.; important things that you miss out on because you “had to do what you had to do”.- Hochwarter described the financial downturn as a “wakeup call” for many people who thought they were doing what was best for their family, but who now question the choices they made- Nearly 40% of workers admitted the job was not as important to them now as it once was, and 23% realized they had put it ahead of family and free time- More than 70% of workers said most days at work it felt like the day would never end- Hochwarter and his team, research associates Tyler
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