ECON 308 Spring 2011 Final Exam Topical Review Ch 13 14 16 18 New Material The following is a review of the topics we have covered since the second midterm and should serve as a review tool The list may not be definitive 1 Decision Rights Bundling Tasks into Jobs and Sub Units Ch 13 A Bundling Tasks into Jobs a Specialized Task Assignments Costs and Benefits b Productive Bundling of Tasks c Incentive Issues B Bundling of Jobs into Subunits a Grouping Jobs by Function Benefits Problems b Grouping Jobs by Product or Geography Benefits Problems c Trade offs between Functional and Product or Geographic Subunits C Environment Strategy Architecture Matrix Organizations a Mixed Designs U form M form b Network Organization c Organizing within Subunits 2 Attracting and Retaining Qualified Employees Ch 14 A Principles of Compensation Determination MRP vs Opportunity cost B Derived the characteristics of a No frills Competitive Labor Market C Human Capital Analyzed the characteristics of General and Firm Specific D Analyzed the determinants of Compensating Differentials E Analyzed the costs of acquiring Compensation Information and costs of over or under paying F Internal Labor Markets Promote from within a Analyzed Benefits and Costs b Derived the relationship of MRP to Compensation over time c Analyzed the Advantages Disadvantages G Analyzed the appropriate mix of Salary Fringe Benefits H 3 SETTING PERFORMANCE BENCHMARKS Ch 16 A Alternative performance Basis 1 Time and Motion Studies 2 Past Performance and the Ratchet Effect B MEASUREMENT COSTS OPPORTUNISM 1 Gaming 2 Horizon Problem C RELATIVE PERFORMANCE EVALUATION 1 Within Firm Performance 2 Across Firm Performance D SUBJECTIVE PERFORMANCE EVALUATION 1 Multitasking and Unbalanced Effort 2 Subjective Evaluation Methods 3 Problems with Subjective Performance Evaluations E COMBINING OBJECTIVE AND SUBJECTIVE PERFORMANCE MEASURES F TEAM PERFORMANCE 1 Team Production 2 Evaluating Teams 4 Corporate Governance Chapter 18 A Publically Traded Companies 1 Reviewed Corporate Form of Organization Decision making 2 Stock Ownership Patterns Closely held vs Publically Traded 3 Governance Objectives a Maximizing Value b Protecting Assets c Meeting Legal Requirements B Separation of Ownership Control 1 How to align executive incentives with stockholders 2 Survival of Corporations 3 Benefits of Publicly Traded Corporations Ability to Raise large Capital C Top Level Architecture in US Firms 1 Sources of Decision Rights Shareholders delegate to Board 2 Board of Directors delegates to professional managers a Hire monitor fire CEO b Authorize strategic directions c Approve large capital outlays 3 Top Management Authority flows from Board a Shape strategic direction b Establish overall architecture c Recruiting and retaining key personnel 4 Derived the role of alternative External Monitors D International Corporate Governance 1 Historical emphasis on broader group of stakeholders 2 Moving more towards US Architecture
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