Compensation- Employee compensation has three elements: base compensation‚ pay incentives‚ and benefits. These three items constitute remuneration package which the employee obtains for his or her labor. Benefits- pay and benefits are the most significant cost in most organizations. Summary Frank L. Giancola is retired HR practitioner and college professor who taught HR and compensation management at Central and Eastern Michigan University. He graduated with a BA in psychology-sociology from the
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A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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Distinguishing elements between leaders and managers In today’s world the terms “leaders” and “managers” are often interchanged and used to name people performing the same actions and having the same functions within the organization – therefore putting them on the same level. However‚ as John Kotter argues‚ each one has a very different set of functions – perhaps not always clearly defined within an organization‚ but nonetheless very distinct. Managers are coping with the complexity of the
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Relationships Between Law And School EDU 532 Legal Issues in Education May 28‚ 2006 Relationship Between Law And School Anyone who is involved in the field of education knows that it is constantly changing. New methods of instruction‚ assessment‚ and classroom management are being implemented on a daily basis. In addition to these changes educators must also pay attention to changes in school law. The world of school law can be complex
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[NOVEMBER The Nature of the Firm By R. H. COASE ECONOMIC theory has suffered in the past from a failure to state clearly its assumptions. Economists in building up a theory have often omitted to examine the foundations on which it was erected. This examination is‚ however‚ essential not only to prevent the misunderstanding and needless controversy which arise from a lack of knowledge of the assumptions on which a theory is based‚ but also because of the extreme importance for economics of
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when faith and reason are divorced from each other. Use at least one example of a Christian teaching that shows the harmony of faith and reason The harmony of faith and reason are the grounds upon which many Christian teachings are built. This relationship enhances elements of both constructs‚ however the danger of separating reason from faith is that reason will endeavour to prove literally and most logically which would cause the ultimate goal and question to be lost in deliberation and‚ on the
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feel happier. Yale University political science professor Robert • Portland found that if you charted the incidence of depression since 1950‚ the lines suggest a growing epidemic. Money jangles in our wallets and purses as never before‚ but we are basically no happier for it‚ and for many‚ more money leads to depression. Correlation between money and happiness- 0.25 Many scholars
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determining how they affect employee performance. There are both positive and negative motivational tools that may be explored. The purpose of this paper is to examine the relationship between motivation and employee performance. “Motivation is generally defined as the psychological forces that determine the direction of a person’s level of effort‚ as well as a person’s persistence in the face of obstacles.” When a person has an increased level of effort and persistence in the workplace they tend to
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Growth in India –An Empirical Analysis Prasanna V Salian1‚ Gopakumar. K2 Abstract This paper seeks to examine the relationship between inflation and GDP growth in India. An empirical evidence is obtained from the cointegration and error correction models using annual data collected from the Reserve Bank of India. The result shows that there is a long-run negative relationship between inflation and GDP growth rate in India. Inflation is harmful rather than helpful to growth. These results have important
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Pay Structures / Salary Structures Introduction: Pay StructuresWhat are Pay Structures or Salary Structures? Pay structures‚ also known as salary structures‚ set out the different levels of pay for jobs‚ or groups of jobs‚ by reference to: their relative internal value‚ as established by job evaluation external relativities‚ via market rate surveys where appropriate‚ negotiated rates for the job What are the main characteristics of Pay Structures? indicate rates of pay for different
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