Study Questions Test 1 Management 3240 Fall 2014 Exam Week October 27 31 1 What are the basic ideas presented in the Ripple Effect video What industries were 2 Understand how the recession has impacted social behavior at work Specifically mentioned as affected both directly and indirectly http www youtube com watch v UMqyi6s41iE playnext 1 list PLC9904CA0CE2D115C feature results video The Ripple Effect refers to what happens when an economy is affected by a recession A family member gets laid off from a job which leads to that family cutting back on spending Since this family stops spending on unnecessary things like eating out the restaurant loses business Since the restaurant loses business they in turn layoff employees and order less food The food company that provides the food now makes less money because the restaurant orders less food due to fewer customers know the research as related to sucking up increasingly demanding management and employee s perceived financial well being Social behavior at work has changed because people are fearful that their jobs are constantly in jeopardy This leads to employees sucking up or even backstabbing other employees so that if employees have to be laid off they are safe 3 Have an understanding of the Foreclosure States Specially know which states are really bad high foreclosure and which ones are pretty good low foreclosure Foreclosure states are states with a higher rate of foreclosure due to a variety of reasons These reasons can range from the high expenses tied to living in the city to having lower mortgage loan requirements etc High foreclosure states are California Nevada Florida Illinois Texas Utah and Georgia 4 Be able to discuss the research related to parents perceptions of their children s future e g Gazing into the Future and The Satisfaction Gap 50 of parents today believe that their kids will be worse off than they were This has to do with more kids going to college thus making it harder for their own kids to be successful This also has to do with how much money is coming out of our paychecks now for Medicare and Medicaid and the belief that somewhere down the road it will be non existent and we won t have those benefits for ourselves Know the specifics of the Flat Paycheck Recovery This is referring to the new jobs that have been created since the old jobs were lost during the recession The majority of these new jobs are low wage jobs such as tourism retail and fast food These jobs are not really replacing the old middle class jobs that had higher wages These new jobs offer a small amount of income and have little opportunity to earn a raise therefore only bringing in a flat paycheck that will never change for unemployed individuals though it may seem that they are in a position to do so What were the factors discussed Know the specifics as outlined Companies are afraid to hire people who have been unemployed for a while because they are afraid they have lost good work habits they have forgotten 6 A number of reasons have been given for companies failing to hire more workers even 5 the necessary skills to perform their job or the company seems to be doing just fine with what they already have Another reason is that they might be able to get that job performed cheaper elsewhere outsourcing etc Also companies are uncertain about the economy and companies don t hire when they are uncertain 7 What was the general theme outlined in the Christian Science Monitor s article on job meaning How did people perceive the importance of work How were male and female participants different Since the recession many long time employees who have been loyal to their job and the company who employed them have been laid off This has led to distrust in corporations and caused people to really wonder just how important work really is People are now starting to realize that spending time with their family may be more important than working Men often react to being laid off as being stabbed in the back by the company whereas women see this as an opportunity to spend more time with their family that they may have neglected by working too much 8 Have an understanding of the major points outlined in the attached article Why are U S children s futures uncertain as a result of the recession How do younger people of this generation compare to those who lived through the Great Depression http www businessweek com articles 2014 08 19 the psychological damage of the recession is not going away Children s futures are uncertain after the recession because advancements in trade and technology are narrowing the upper and middle class Our grandparents had the belief that their child had a pretty good chance of growing up and living a middle class life whereas kids now have a lesser opportunity to reach that goal People were afraid to invest their money after the great depression and people nowadays have become afraid of taking on the risk that comes with investments increase in economic strength affected most people Why http www businessweek com ap 2014 08 28 survey americans pessimism on economy has grown American anxiety has grown due to the fact that median households are earning less on average than they were five years ago that is especially bad due to the fact that inflation has been continuously rising over those five years The recent economic strength has helped very few Americans out The enormous growth of the stock market only significantly helped a few people out due to people being afraid to invest their money or a substantial sum of it 10 Read the Gender Wage Gap Myth article Describe the way that the information was calculated including any limitations in the way the final results were determined What are the reasons for women to celebrate http www forbes com sites realspin 2012 04 16 its time that we end the equal pay myth print The information was calculated by using the average income of a man and the average income of a woman They did not use results of a man from a particular job and a woman who carried the exact same position This information cannot be used properly due to a large number of uncertainties between the different jobs that men and women both have Women celebrate this day because it supposedly marks the day that women would have earned 9 How has the recession caused American s anxiety to grow Overall how has the recent 11 Allegedly how does the gender wage gap change over the course of one s career enough to cover the difference
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