Organizational Behavior Exam 1 Understand how the ripple effect has impacted businesses and families Know the video People get laid off man loses job as bank manager they stop taking their families to lunch restaurant has less sales fewer tips for bartender bartender doesn t go out and use pet sitter restaurant orders less meat from butcher Allan brother butcher has to lay off people o Restaurant bartender dog handler butcher o Unrelated yet interdependent businesses Keeps repeating 800 people lose their jobs every hour What caused the recession as noted Know the first causes in a nutshell slide Loans credit lines refinancing etc Irrational exuberance in the housing market led many people to buy houses they couldn t afford In 2006 the bubble burst as housing prices started to decline This caught many homeowners off guard who had taken loans with little money down As they realized they would lose money by selling the house for less than their mortgage they foreclosed Escalating foreclosure rates panicked banks and hedge funds secondary markets now realized they were facing huge losses By august 2007 banks became afraid to lend to each other because they didn t want these toxic loans as collateral Understand the specifics of Chicago s recession driven economic difficulties Cities can t manage money o Projected shortfall 519 700 000 o Shortfall as a percentage of general fund 15 16 3 o Projected budget deficit 2014 2016 What factors have caused the city of Detroit to have such a difficult time financially Describe Detroit s unsecured debt specifics Decades of financial mismanagement and corruption 11 8 B unsecured debts o 3 5 B pensions o 5 7 B benefits o 1 13 B go bonds o 1 43 B derivatives Understand looking back in terms of middle class s views of opportunity and security today relative to the past Know specifics opportunity to get Americans say the middle class has less opportunity and security today than before Compared to the middle class in your parent s generation do you think the middle class today has o Opportunity to get ahead Less 52 More 26 About the same 21 o Job and financial security Less 65 About the same 17 More 16 o Expendable income after paying for expenses Less 60 More 20 About the same 18 What are the factors that have caused many middle class members to go from working to homeless 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 don t do it Gimme that house back the one that you couldn t afford in the first place How have companies contributed to the flat paycheck recovery What consolations were noted in the article with respect to wages The jobs being created aren t like those we ve lost 2 3 of the jobs lost during the recession were middle income jobs about half of those created since have been in low wage sectors like tourism hospitality and retail sales A greater proportion of them are temp positions than in recoveries past The result is that although wage growth has begun to pick up a little bit it s far below what most economists would expect at this stage of a recovery Major finding of the attached article were what How did men and women respond differently to questions posed by researchers Shift of focus towards home and family instead of worrying about having a job questioning work related sacrifices o 37 are questioning how important work is at all While men thought their job was not giving them what they thought it would and left them feeling stressed and like they were going nowhere women felt their job was taking them further and further away from family Describe the salary disparity documented to exist in the state of Florida Women in Florida fare slightly better than the national average earning 80 cents rather than 77 cents to a man s dollar Regardless of race women working full time in Florida earn less than white male counterparts o White woman 78 cents o African American women 61 cents o Hispanic women 57 cents Why do male nurses often make more than female nurses according to the research Know the factors Partly due to the fact that men were more likely than women to work full time Glass elevator men in female dominated careers often rise higher and faster than women in male dominated careers Men are more concentrated in the highest earning segments of the field More likely to have a doctoral degree work evenings nights and be immigrants o Men make up 10 of all registered nurses 41 of nurse anesthetists 148 000 8 of licensed practical nurses 35 000 Be able to identify the factors that have caused a gender gap to exist according to the 2013 report Choice of occupation Development of human capital Work experience Career interruptions Motherhood Health benefits insurance Overtime Industry How is the gender wage gap calculated What are the shortcomings of doing do this way Reflects the median earnings of all men and women classified as full time workers Doesn t compare two similarly situated coworkers of different sexes working in the same industry performing the same work for the same number of hours a day Understand the less than desirable aspects of work that explain differences in pay Men and women tend to gravitate toward different industries o Women are willing to trade higher pay for jobs with other characteristics regular hours comfortable conditions little travel greater personal fulfillment o Men often take jobs with less desirable characteristics in pursuit of higher pay Children play an important role in men and women s work life decisions Understand the first bill s language outline in the article describing Oregon s efforts to reduce the gender wage gap The first bill s language is subtle but it could have important consequences for women in the state As written equivalent jobs wouldn t rely on having the exact same role at the exact same company Rather equivalent jobs would be those that are the same when the required skills training education effort responsibility and working conditions are the same For example women who coach girls teams couldn t be paid less than men who coach boys just because boys teams bring in more money Employers could still have differing pay grades based on merit seniority training and education differences among workers According to the article what are the attributes of jobs that are considered high
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