This 14 page study guide covers all of the 47 topics outlined for the MAN3240 midterm The test will have 33 40 questions MAN3240 Midterm Review 1 What are the basic ideas presented in the Ripple Effect video What industries were mentioned as affected both directly and indirectly http www youtube com watch v UMqyi6s41iE playnext 1 list PLC9904CA0CE2D115C featur e results video People are not eating out as much Restaurants are serving fewer people so waitresses are receiving fewer tips The waitress now cant afford to pay her dog sitter The restaurant also orders less food causing the supplier to lay of 5 of butchers and drivers 800 people lose job every hour in US Half a million lost jobs in January 2 Understand how the recession has impacted social behavior at work Specifically know the research as related to sucking up increasingly demanding management and employee s perceived financial well being More than 70 of men and women confirmed that he recession has significantly increased the stress levels of employees 55 reported that management has grown increasingly demanding 65 predicted significant job changes to occur within 1 year 80 reported being nervous about their long term financial well being 60 were asked to find ways to cut costs on a weekly basis More than 40 percent of employees reported increased incivility i e backstabbing sucking up and politicking as a means to stay employed in the event of a layoff 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 High Florida Georgia Illinois Arizona Utah Nevada and California Expensive to live there Ease of getting capital People overdoing their lives fake it until you make Low Mississippi North Dakota South Dakota Maine and it West Virginia 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 Gazing into the future what percent of parents say children will grow up to be than people today The Satisfaction Gap 34 better off 50 worse off 4 same 12 don t know Ages 30 only 26 were satisfied with the way things are going in this country Ages 18 29 41 were satisfied 5 Know the specifics of the Flat Paycheck Recovery The jobs being created aren t like those we lost 2 3 of jobs lost were middle income jobs about half of those created since have been low wage sectors like tourism hospitality and retail sales 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 Know the specifics as outlined things Seem to be doing okay with what we have Trimmed a lot of fat in the past few years and got better at Earning may sound good but everything is relative Uncertainty of a double dip recession Uncertainty of the White House Uncertainty about hiring habit Can we get it cheaper elsewhwere Outsourcing Don t want to go through that again People 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 During recession people realized that putting more faith 8 Have an understanding of the major points outlined in the into family church and other things is more important than putting faith into career Jobs mean less than they used to 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 Americans have become aware that the economy is riskier Lifetime earning power has been getting less certain than it used to be In 2002 1 in 2 Americans expected real income gains in the next 5 years By 2013 only 1 in 3 did Changes in technology and trade have hollowed out the Younger Americans many never recover from the middle class creating an uncertain future for children recessions wake up call to risk and the economy might suffer for that The Great Depression scared a generation away from financial risk and many never invested in the stock market 13 of millennial describe themselves as financially conservative 9 How has the recession caused American s anxiety to grow Overall how has the recent increase in economic strength affected most people Why http www businessweek com ap 2014 08 28 survey americans pessimism on economy has grown Americans are more anxious now than they were right after the Great Depression ended 71 say they think the recession exerted a 42 say they have less pay and savings than permanent drag on the economy before recession began in 2007 in 2009 only 49 thought the downturn would have lasting damage 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 Equal Pay Day April 17th is supposed to represent the day that women have finally earned enough to make up for last year s wage gap Full time working women earned 81 less of what full time working men earned in 2010 The wage gap statistic only reflects the median earnings On average men work 8 14 hours and women 7 75 Reasons to celebrate Women are increasingly taking on leadership roles in businesses around the world Technology is increasingly creating more flexible Women are excelling academically earning more work arrangements college degrees than men course of one s career Know the trends 11 Allegedly how does the gender wage gap change over the 24 years and young the wage gap less than 3 by the time they are 60 years and over the gap is 30 12 Understand women s earnings as a percent of men s various characteristics Know the percentages across the various characteristics 13 What factors have caused the wage gap to widen in the state of Florida What suggestions were given to help reduce pay inequity http articles sun sentinel com 2014 08 31 news fl florida wage gap widens 20140829 1 wage gap central florida working florida A growing gap between high and low wage earners means that Florida s workers are living in increasingly separate worlds
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