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 mentioned as affected both directly and indirectly http www youtube com watch v UMqyi6s41iE playnext 1 list PLC9904CA0CE2D115C feature results video Fewer people making money and it s causing everyone problems Blue collar worker loses 6 figure salary job Stops eating out causing favorite restaurant to lose business Meat Supplier loses money from loss off store business Bartender of restaurant less tips Had to stop hiring dog sitter causing more job losses Ripple effect one person spending less money goes much farther 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 70 of people say the recession has significantly increased stress level of 55 say management has grown more demanding More people having job changes and being nervous about their long term financial 40 increase in sucking up backing stabbing to stay employed employees well being 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 lenders attempting to recover balance of a loan of someone who Top 7 Foreclosure states Florida Georgia Illinois Utah Arizona Nevada and stopped making payments by selling off their assets as collateral California 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 Studies done show that fear or uncertainty for their children is difficult to deal with Satisfaction Gap of people that are satisfied with the way things are going in this and parents are stricter on their kids during hard times country today o People 18 29 are more satisfied than the people 30 Know the specifics of the Flat Paycheck Recovery Although unemployment numbers are creeping down the jobs being filled are low income jobs so even though wage growth has begun to pick up it is still low for what economists would consider a stage of recovery A number of reasons have been given for companies failing to hire more workers even 4 5 6 though it may seem that they are in a position to do so What were the factors discussed Know the specifics as outlined They are okay with what they have don t need to hire more people Trimmed the fat in recent years and things have gotten better things going better Earnings may sound good but everything is relative Uncertainty double dip recession going into another recession Uncertainty about the white house and any issues going on in the government Uncertainty hiring habits Try to get cheaper work somewhere else outsourxring Don t want to go through the hiring process again Not knowing how their future income will be 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 Jobs are in short supply but are not as valued as they used to be people are questioning the importance of their job compared to what they are sacrificing leisure time time away from family and fewer self improvement activities Nearly half of people surveyed appreciation for family has increased with the recession Men more concerned with job security Women s conflicts were between work and family obligations and having fewer hours engaged in family life 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 Parents do not think their children s generation will have as good of a life as they Children s futures are uncertain because the middle class is shrinking and more The Great Depression had an economic boom after the war and our generation has did because they don t believe the recession is coming to an end people are doing very well or land in the lower class no such thing to come to relieve the economic downfall 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 Consumers are still struggling with debt and stress about their job security Only 14 of people said the gains have affected them Overall economic increase has not helped make Americans feel better about the future because of these fears 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 They calculated the average pay between men and women and found that men on However they did not compare what industries they were in performing the same Women go for regular hours and more comfortable conditions while men will do less Woman can celebrate because they are taking on more leadership roles with average make more work or how many hours worked it was strictly different sexes desirable conditions for more money flexible working arrangements expecting them to contribute more in the future 11 Allegedly how does the gender wage gap change over the course of one s career Know the trends 12 Understand women s earnings as a percent of men s various characteristics Know the percentages across the various characteristics Women are expected to learn more in the future 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 The income of top wage earners is growing faster than the low earning population Surge of tourism and construction has generated jobs with higher pay Help o Increase minimum wage and match with inflations o Strengthen enforcement against companies cheating workers out of money o Discourage workplace discrimination o
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