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 Recession causes people to lose jobs and earn less in wages in turn they must make monetary cuts in their lifestyle which in turn affects businesses that are used to their frequent customers Restaurants bartenders pet sitters meat suppliers butchers truck drivers 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 55 says management has grown increasingly demanding 65 progressively more concerned about job status 80 nervous about long term financial 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 States in which a lot of people aren t able to make payments on their house and go into foreclosure Top states FL GA IL AZ UT NV CA 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 say children will be worse off than parent s generation Older folks are far less satisfied than younger folks with the way things are going in this country today Know the specifics of the Flat Paycheck Recovery Although wage growth has begun to pick up a little bit it is far below than what most economists would expect in this stage of a recovery Most jobs lost were middle income jobs while most new jobs created in the recovery process are low wage jobs 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 They seem to be doing okay with what they have currently trimmed the fat in the last years and got better at doing things uncertainty about another recession Can they get cheaper elsewhere DON T WANT TO SPEND UNESSECESSARY MONEY 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 5 People put too much faith into working and their jobs and they realized that they should be giving more attention to god and their families Men s remorseful thoughts were driven by recession related job insecurity Women s thoughts were triggered by work and family obligations 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 Changes in technology and trade are hollowing out the middle class larger chasm between economic winners and losers Stakes are higher and risk of failure is larger Many millennials have internalized the same fears as those that lived through the depression 13 consider themselves financially conservative now 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 They fear that job security has pretty much disappeared and that they will have little choice but to work part time during retirement Recent economic strength has done little to brighten most American s outlooks 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 gender wage gap states that there is a 19 difference between men and women s salaries but that doesn t compare two similarly situated co workers it compares median salaries of all men and all women that have full time jobs Women should celebrate because they are taking on leadership roles in businesses around the world and women are excelling academically earning far more college degrees than men 11 Allegedly how does the gender wage gap change over the course of one s career Know the trends The 7 8 gender wage gap widens over the years 12 Understand women s earnings as a percent of men s various characteristics Know the percentages across the various characteristics Women that are never married earn 96 of men s salary on the opposite end of the spectrum women that are married with children between the ages of 6 and 17 only earn 73 of men s salary 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 recession caused many women to lose jobs and caused them to turn to lower paying jobs for employment To reduce pay inequality increase minimum wage strengthen enforcement against companies that cheat workers out of money that they earned discourage workplace discrimination legally and provide more on the job training 14 Understand the basic points regarding Jill Abrahamson s job tenure and ousting at the NY Times as described in the attached video http www youtube com watch v SFaWfEr8XSE She was paid less than her male predecessor and she hired a lawyer to investigate the issue in the end she was fired partly because of her inquiries about not being paid the same 15 What are the requirements obligations of the Paycheck Fairness Act What was the Institute for Women s Policy Research main published finding http www nytimes com 2014 09 13 opinion a showdown on the pay gap html Requirements of PFA include employers having to show that wage differences are job related not sex based and are governed not by bias but by business necessity Institute for Women s Policy Research for example showed that men have higher median earnings than women in nearly every field including those most commonly pursued by full time working women like nursing
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