Questions and Answers of Management A Practical Introduction

Based on Exhibit 1, which portfolio best meets the Laws’ goal to fund an endowment for their alma mater?A. Portfolio 1 B. Portfolio 2 C. Portfolio 3 Raye uses a cost–benefit approach to
Based on Exhibit 1, which portfolio best meets the Laws’ education goal for their children?A. Portfolio 1 B. Portfolio 2 C. Portfolio 3 Raye uses a cost–benefit approach to rebalancing and
Would it be helpful to see the cost of each category of reward?
When did you last review your plans? If not in the last 18 months, I suggest that you do so.
Should you do some work on the potential opportunities you may have to introduce more choice or flex?
Do any of your programmes confuse recognition and incentive?
Do you have any evidence of the extent to which people feel adequately recognized?
Could you use some of the bonus budget to make more impact through other programmes such as recognition or management training?
Are you making best use of your bonus plans in helping manage rather than leaving them drifting unattached to the rest of the organization?
Are your bonuses documented sufficiently so that it explains how the plan works and the main changes to circumstances are covered?
Are you clear what you are asking your bonus plans to do; is it realistic?
Should you reassess the pay review process?
Do you explain to employees the pay review process, data sources etc you use to give them more confidence in the way pay decisions are made?
What are your current sources of pay data; are they fit for purpose?
Are you clear on the pay markets in which you compete?
Should you look for a training course to give you more detail on salary surveys and pay reviews?
How open are you with employees about the salary structure or approach you use?
Would a single pay structure or a number of pay structures be most appropriate for your organization?
Would broad bands and/or job families fit your reward strategy?
What opportunities are there to enhance existing cash programmes with non-cash?
Could you allocate a small proportion of your bonus budget or pay review budget to fund recognition?
Do you know if your employees understand the benefits you provide and their value?
Would it be helpful to repackage benefits in themed groups – wellbeing, lifestyle etc?
Should you review all of your benefits against the five points suggested at the start of this chapter?
Why do you offer the benefits you do?
Should you do some work on the potential opportunities you may have to introduce more choice or flex?
Do you know if your employees understand the benefits you provide and their value?
Would it be helpful to repackage benefits in themed groups – wellbeing, lifestyle etc?
Should you review all of your benefits against the five points suggested at the start of this chapter?
Why do you offer the benefits you do?
If you are in a quoted company, should you consider if an approved employee share plan could add value?
Do you have a reward statement or policy that makes reference to reward over the longer term? If not, should you consider adding something?
Should you consider moving some short-term reward to longer term?
Do you have people in your organization who make an impact over a period of more than one year for whom you should consider some form of longer-term plan to counter short-term incentives?
Should you discuss with your learning and development colleagues to investigate how a joint approach to recognition could add value?
If you do not have a grade structure, could it help?
What terms will you use to describe reward?
Can you get better value and impact by trading off one part of reward with another?
What are the main internal factors that impact reward in your organization?
What are the main external factors that impact reward in your organization?
What does each part of reward do in relation to recruit, retain and motivate or engage?
What does equitable mean in relation to reward in your organization?
What is the balance between intrinsic and extrinsic motivation in your organization?
What is the dominant attitude about the impact of reward in your organization against the range in Figure 3.1 on page 31, and what does this mean in the way in which you manage reward?
What sources of data do you have that can be used to help track the impact of changes in reward?
Where is reward adding value to the HR strategy and where can alignment be improved?
What can you do about any gaps you list?
What are the reward-related rhetoric and reality gaps in your organization?
To what extent do your current reward programmes support your values?
Would it be of value to analyse the total costs of reward as a percentage of the organization’s overall costs?
How will you establish your definition of reward strategy?
How do you measure up to the six elements of reward management I suggest are now important? Do you need to do anything to improve in any?
Are you clear about what you want reward to do in your organization?
If you have a grade structure, what is it for and is it helping?
Are you sure that no tax advice is being given to employees inappropriately?
Have you established a position on the relative responsibilities of the employer and employee for tax, in particular when taxation changes?
Could you use salary sacrifice to give better value for some benefits to employees?
Are there some HMRC tax-advantaged employee share or option plans or benefits with low or no tax that could fit your reward strategy and increase value?
Have you reviewed the benefits you provide to ensure that the correct tax and NIC are being applied?
How can you involve people more in changes to reward?
Are you maximizing the existing opportunities to communicate key messages from reward, such as pay reviews?
Would some form of reward statements, or flex, help you get better value from what you spend on reward?
What is there in the example reward philosophy statements that could fit with your organization?
Can you do a first draft based on what you have read so far?
How would it be best to consult with key stakeholders?
How would you position it within your other policy statements?
What process would you go through to get it out into the organization?
Do you know if the people in your organization understand what their total reward is, how much it is worth and how it works?
Describe how evidence-based management and data analytics contribute to decision making.
Describe how artificial intelligence is used in decision making.
Compare the four decision-making styles.
What is the status of your problem-solving skills? Are you surprised by the results?
Based on identifying the four lowest scored items on the assessment, what can you do to improve your problemsolving skills? Explain.
What things would you say during an interview to demonstrate that you possess this career readiness competency?
Are you intuitive at work? Did the results surprise you?
What can you do to increase the amount of intuition you use at work? Describe.
What things might you say during a job interview to demonstrate that you possess the career readiness competency of critical thinking/problem solving?
What is your dominant decision-making style?
What are the pros and cons of your style?
What might you say to a recruiter during a job interview to demonstrate your awareness regarding your decisionmaking style?
Where does the team stand on the three aspects of groupthink?
Based on your survey scores, what would you do differently to reduce groupthink in the group you evaluated? Be specific.
What is the level of minority dissent in the group, and to what extent are you satisfied with being a member of this group?
Use the three lowest items that measure minority dissent to answer the following question: What can you do to increase the level of minority dissent in this group? Be specific.
Why do you think many groups muzzle the level of minority dissent?
Describe the process you use to make decisions. Provide a specific example in which this process resulted in a positive outcome.
Tell me about a time in which you had to make a quick decision. How did you approach the situation and what obstacles did you face? How did you make this decision without having all the necessary
Describe a time in which you used intuition to make a decision rather than relying on data or hard facts. What was the outcome of your decision, and what did you learn from the experience?
What is the underlying problem in this case from Juul CEO K. C. Crosthwaite’s perspective?
What do you think about Juul’s approach for solving the problem? Explain.
What do you think the FDA will decide? Why?Application of Chapter Content
What are some barriers to Crosthwaite’s ability to utilize rational decision making? Explain.
Is the VTA’s support of flavored e-cigarettes ethical?Use Figure 7.4 in your response.
How is Juul utilizing evidence-based decision making? Explain.
How can Juul utilize big data to overcome the challenges it is facing?
Are regulatory and law enforcement agencies suffering from groupthink? Why or why not?
Do not implement the new rules. The airline should allow emotional support pets to travel unrestricted, just as service dogs do. Airlines should not be in the business of categorizing passengers’
Implement the new rules. Emotional support pets are not service dogs and should be treated differently.The airline needs to ensure the safety of employees, passengers, and other animals during flight.
Explain why managers need to align organizational culture, structure, and HR practices to support strategy.
Identify the major features of an organization and explain how they are expressed in an organization chart.

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