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 Man loses job as bank manager can t go out to eat as often at Redstone Grille fewer tips for waitress that can t go out or hire a pet sitter restaurant doesn t order as much meat from Allen brothers forcing them to lay off 5 of butchers and truck drivers Domino effect of people losing jobs 800 people lose their jobs every hour Trickles down through unrelated but interdependent businesses 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 Sucking up 40 increase demanding management 55 reported wellbeing 80 are nervous 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 Arizona Nevada California Utah Florida Georgia Illinois Low North Dakota South Dakota Alaska West Virgina Missouri Maine 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 think we will be worse off Know the specifics of the Flat Paycheck Recovery Not increasing in wages not more spending Jobs created aren t like the ones we lost Creating lesser jobs to achieve numbers Slide 44 6 A number of reasons have been given for companies failing to hire more workers even 5 though it may seem that they are in a position to do so What were the factors discussed Know the specifics as outlined Have workers already Already trimmed fat Earnings sound good but all is relative Uncertainty from a double dip recession Uncertainty from the white house Uncertainty from hiring habits Can it be cheaper elsewhere Don t want to go through that again 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 People are going through the recession putting too much faith in work was bad Put more faith in family and church Can t control work the economy won t let them Male and female Slide 52 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 Economy is nearly recovered someone has to convince America Nearly half think still in recession 76 believe children WONT have better life The Economy is risky Less people think they will have better income gains Children s futures are uncertain because changes in technology hallow out middle class making upper and lower class farther apart very few in the middle Great Depression scared the kids so no one invested And they would have pensions to support them Heighten in fear will hurt career ad investment decisions good economic well being needs optimism 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 More anxious about the economy despite stock market gains falling unemployment and growth moving closer to full health 71 of Americans say recession exerted a permanent drag on the economy Five months after the recession officially ended the Rutgers researchers found that only 49 percent thought the downturn would have lasting damage 14 say they notice the increase in strength A sign of either meager investments or the extent to which families unloaded their stock holdings near the bottom of the market 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 Department of Labor s Time Use Survey for example finds that the average full time working man spends 8 14 hours a day on the job compared to 7 75 hours for the full time working woman Employees who work more likely earn more Men working five percent longer than women alone explains about one quarter of the wage gap Often times women are willing to trade higher pay for jobs with other characteristics that they find attractive Men in contrast often take jobs with less desirable characteristics in pursuit of higher pay Simply put women who have children or plan to have children tend to be willing to trade higher pay for more kid friendly positions Women have many reasons to celebrate today Women are increasingly taking on leadership roles in businesses around the world Technology is increasingly creating more flexible work arrangements creating new options for parents to combine work and family life Women are excelling academically earning far more college degrees than men Given that the economy tends to place a premium on education we can expect women to contribute and earn more in the future 11 Allegedly how does the gender wage gap change over the course of one s career Know the trends Increases over the career up to 30 For people younger than 30 gap is 10 12 55 gap is 28 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 But the gap between highly paid workers such as computer programmers and low wage workers such as food servers is turning into a chasm The recession has caused people to be happy with whatever job they get To reduce pay inequality the report made several recommendations Increase the minimum wage and keep raising it to match inflation Strengthen enforcement against companies that cheat workers out of money
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