Question 1

Which of the following is a step in the formulation of the total compensation strategy that deals with employee or union needs?

Accepted Answer

A) implementing strategy 
B) implementing cultural and regulatory changes 
C) reassessing the fit 
D) mapping a total compensation strategy 
E) assessing total compensation implications 
A) implementing strategy 
B) implementing cultural and regulatory changes 
C) reassessing the fit 
D) mapping a total compensation strategy 
E) assessing total compensation implications E

Question 2

Define competitive advantage.

Accepted Answer

Competitive advantage refers to a business practice or process that results in better performance than one's competitors.

Question 3

According to the pay model, the strategic compensation decisions regarding external competitiveness involve:

Accepted Answer

A) how pay increases should be based. 
B) how open and transparent the pay decisions should be to all employees. 
C) how the different types and levels of skills and work should be paid within the organization. 
D) how compensation should support the business strategy and be adaptive to the cultural and regulatory pressures in a global environment. 
E) how total compensation should be positioned against competitors. 
A) how pay increases should be based. 
B) how open and transparent the pay decisions should be to all employees. 
C) how the different types and levels of skills and work should be paid within the organization. 
D) how compensation should support the business strategy and be adaptive to the cultural and regulatory pressures in a global environment. 
E) how total compensation should be positioned against competitors. E

Question 4

Managing total compensation strategically means fitting the compensation system to the business and environmental conditions.

Accepted Answer

A) True 
 B)False

Question 5

Describe the last step of developing a total compensation strategy.

Accepted Answer

The fourth step, reassess and realign, c

Question 6

Periodic reassessment of a compensation strategy's fit to changing conditions is needed to:

Accepted Answer

A) design work so that employees have opportunities to work independently without collaboration with others. 
B) defer taxes by putting pay into retirement funds. 
C) set objectives on alignment, competitiveness, contributions, and management. 
D) specify the four policies on alignment, competitiveness, contributions, and management. 
E) continuously learn, adapt, and improve. 
A) design work so that employees have opportunities to work independently without collaboration with others. 
B) defer taxes by putting pay into retirement funds. 
C) set objectives on alignment, competitiveness, contributions, and management. 
D) specify the four policies on alignment, competitiveness, contributions, and management. 
E) continuously learn, adapt, and improve.

Question 7

Trial and error play a major role in developing a compensation strategy.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is a step in the formulation of the total compensation strategy that deals with setting objectives and specifying policies on alignment, competitiveness, contributions, and management?

Accepted Answer

A) reassessing the fit 
B) implementing strategy 
C) implementing cultural and regulatory changes 
D) assessing total compensation implications 
E) deciding on a total compensation strategy 
A) reassessing the fit 
B) implementing strategy 
C) implementing cultural and regulatory changes 
D) assessing total compensation implications 
E) deciding on a total compensation strategy

Question 9

What three tests determine whether a compensation strategy is providing a competitive advantage to the organization?

Accepted Answer

Three tests determine whether a pay stra

Question 10

What is meant by context in the process of formulating a total compensation strategy?

Accepted Answer

Context refers to a wide range of factor

Question 11

Personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company success are fostered by a company's _.

Accepted Answer

A) social and political context 
B) patronage concentration 
C) core culture and values 
D) competitive heterogeneity 
E) competitive dynamics 
A) social and political context 
B) patronage concentration 
C) core culture and values 
D) competitive heterogeneity 
E) competitive dynamics

Question 12

Which of the following organizational practices assumes that rather than focusing on only one dimension of the pay strategy, such as pay for performance or internal pay differences, all dimensions need to be considered together?

Accepted Answer

A) internal alignment 
B) compensation strategy 
C) external competitiveness 
D) managing compensation 
E) employee contributions 
A) internal alignment 
B) compensation strategy 
C) external competitiveness 
D) managing compensation 
E) employee contributions

Question 13

According to the steps involved in formulating a total compensation strategy, which of the following is the step that follows the assessment of total compensation implications?

Accepted Answer

A) realigning as conditions change 
B) mapping a total compensation strategy 
C) implementing strategy 
D) implementing cultural and regulatory changes 
E) reassessing the fit 
A) realigning as conditions change 
B) mapping a total compensation strategy 
C) implementing strategy 
D) implementing cultural and regulatory changes 
E) reassessing the fit

Question 14

Pay systems mirror a company's image and reputation.

Accepted Answer

A) True 
 B)False

Question 15

All organizations that pay people have a written compensation strategy.

Accepted Answer

A) True 
 B)False

Question 16

When business strategies change, pay systems should remain the same.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements is true about assessing the total compensation implications?

Accepted Answer

A) The pay system seldom mirrors a company's image and reputation. 
B) A highly centralized and confidential pay system controlled by a few people in a corporate unit will support a highly decentralized, flexible, open organization. 
C) A pay system reflects the values that guide an employer's behaviour and underlie its treatment of employees. 
D) Internationally, the role of unions in pay determination seldom varies. 
E) Pay can neither play a supporting role, as in the high performance approach, nor can it take the lead and be a catalyst for change. 
A) The pay system seldom mirrors a company's image and reputation. 
B) A highly centralized and confidential pay system controlled by a few people in a corporate unit will support a highly decentralized, flexible, open organization. 
C) A pay system reflects the values that guide an employer's behaviour and underlie its treatment of employees. 
D) Internationally, the role of unions in pay determination seldom varies. 
E) Pay can neither play a supporting role, as in the high performance approach, nor can it take the lead and be a catalyst for change.

Question 18

Pay strategies need to be adapted to the nature of the union-management relationship.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is a step in the development of the total compensation strategy that involves the choosing of techniques to fit the strategy?

Accepted Answer

A) mapping a total compensation strategy 
B) implementing strategy 
C) assessing total compensation implications 
D) reassessing the fit 
E) implementing cultural and regulatory changes 
A) mapping a total compensation strategy 
B) implementing strategy 
C) assessing total compensation implications 
D) reassessing the fit 
E) implementing cultural and regulatory changes

Question 20

A compensation strategy emerges from the pay decisions that an organization makes.

Accepted Answer

A) True 
 B)False

Which of the following is a step in the formulation of the total compensation strategy that deals with employee or union needs?

Define competitive advantage.

According to the pay model, the strategic compensation decisions regarding external competitiveness involve:

Managing total compensation strategically means fitting the compensation system to the business and environmental conditions.

Describe the last step of developing a total compensation strategy.

Periodic reassessment of a compensation strategy's fit to changing conditions is needed to:

Trial and error play a major role in developing a compensation strategy.

Which of the following is a step in the formulation of the total compensation strategy that deals with setting objectives and specifying policies on alignment, competitiveness, contributions, and management?

What three tests determine whether a compensation strategy is providing a competitive advantage to the organization?

What is meant by context in the process of formulating a total compensation strategy?

Personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company success are fostered by a company's _.

Which of the following organizational practices assumes that rather than focusing on only one dimension of the pay strategy, such as pay for performance or internal pay differences, all dimensions need to be considered together?

According to the steps involved in formulating a total compensation strategy, which of the following is the step that follows the assessment of total compensation implications?

Pay systems mirror a company's image and reputation.

All organizations that pay people have a written compensation strategy.

When business strategies change, pay systems should remain the same.

Which of the following statements is true about assessing the total compensation implications?

Pay strategies need to be adapted to the nature of the union-management relationship.

Which of the following is a step in the development of the total compensation strategy that involves the choosing of techniques to fit the strategy?

A compensation strategy emerges from the pay decisions that an organization makes.

The Pay Model

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Pay Structures

Defining Competitiveness

Designing Pay Levels, Pay Mix, and Pay Structures

Employee Benefits

Pay for Performance: Performance Appraisal and Plan Design

Pay-For-Performance Plans

The Role of Governments and Unions in Compensation

Compensation Budgets and Administration

Filters

Exam 2: Strategy: the Totality of Decisions

Which of the following is a step in the formulation of the total compensation strategy that deals with employee or union needs?

Define competitive advantage.

According to the pay model, the strategic compensation decisions regarding external competitiveness involve:

Managing total compensation strategically means fitting the compensation system to the business and environmental conditions.

Describe the last step of developing a total compensation strategy.

Periodic reassessment of a compensation strategy's fit to changing conditions is needed to:

Trial and error play a major role in developing a compensation strategy.

Which of the following is a step in the formulation of the total compensation strategy that deals with setting objectives and specifying policies on alignment, competitiveness, contributions, and management?

What three tests determine whether a compensation strategy is providing a competitive advantage to the organization?

What is meant by context in the process of formulating a total compensation strategy?

Personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company success are fostered by a company's _.

Which of the following organizational practices assumes that rather than focusing on only one dimension of the pay strategy, such as pay for performance or internal pay differences, all dimensions need to be considered together?

According to the steps involved in formulating a total compensation strategy, which of the following is the step that follows the assessment of total compensation implications?

Pay systems mirror a company's image and reputation.

All organizations that pay people have a written compensation strategy.

When business strategies change, pay systems should remain the same.

Which of the following statements is true about assessing the total compensation implications?

Pay strategies need to be adapted to the nature of the union-management relationship.

Which of the following is a step in the development of the total compensation strategy that involves the choosing of techniques to fit the strategy?

A compensation strategy emerges from the pay decisions that an organization makes.

The Pay Model

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Pay Structures

Defining Competitiveness

Designing Pay Levels, Pay Mix, and Pay Structures

Employee Benefits

Pay for Performance: Performance Appraisal and Plan Design

Pay-For-Performance Plans

The Role of Governments and Unions in Compensation

Compensation Budgets and Administration

Filters