see attached
Use this reference for below questions. Brickley, J.A., Smith, C.W., & Zimmerman, J.L. (2021). Managerial economics and organizational architecture (7th ed.). New York: McGraw Hill/Irwin.
HOMEWORK 1: 1 page with 2 references:
W. Edwards Deming, often referred to as the leading quality guru in the United States, and psychologist Alfie Kohn support the idea that incentive pay is not a motivator for individuals to do a good job. Yet economists argue that incentive compensation does work and as economist George Baker notes in his 1993 article in the Harvard Business Review titled ”
Rethinking Rewards,” “The problem is not that incentives can’t work but that they work too well.” What does Baker mean? Discuss the importance of a well-developed compensation plan in attracting and retaining good employees and how to keep those plans from “working too well.”
HOMEWORK 1: 3 page with atleast 2 references:
ANALYZING MANAGERIAL DECISIONS: Structuring Compensation Plans
Parkleigh Pharmacy is a small department store in Rochester, NY, specializing in upscale, expensive personal accessories (e.g., sunglasses, beauty aids, leather goods) and home decorations (e.g., crystal, china, table lamps). Macy’s is a large national department store chain with several stores in the Rochester area. Macy’s carries a broader range of products and caters more to middle-income consumers.
Salespeople at Parkleigh are paid a straight hourly wage (i.e., no sales commissions). In addition, they are entitled to a 30 percent discount on anything they buy at the store. By contrast, salespeople at Macy’s are paid an hourly wage (lower than the hourly wage paid at Parkleigh) plus a commission of 8 percent on sales they make. They receive no discount on products they buy at Macy’s.
Why do you think the compensation plans differ at the two firms? In particular, why do you think Macy’s pays commissions to salespeople, while Parkleigh does not? Why does Parkleigh offer employees discounts on purchases, while Macy’s does not?
Assume, for the moment, that neither store pays sales commissions. Parkleigh offers an hourly wage plus the employee discount. Macy’s offers only an hourly wage. Do you expect Macy’s hourly wage to be higher or lower than Parkleigh’s? Why?
HOMEWORK 3: 5 page atleast 2 references:
A final paper that focuses on the course content applied in the setting of your current or past employer will be due. In this paper you will focus on the following:
· Provide a description of the company that you work for. As part of your description include a discussion of the type of organizational structure.
· Describe an agency problem within the firm and discuss what you think is causing the problem and how the problem might be better controlled.
· Describe the job dimensions of the firm and discuss whether or not you believe the current design is appropriate for the firm. Discuss any suggestions you might have for improving the job design; for example grouped by function or by product or geography or a matrix organization? Provide a diagram if helpful to illustrate. Is this organization effective?
· Describe the compensation package for executives and employees within the firm. Discuss whether or not you believe that the compensation package is effective and any suggestions that you might have for improving the compensation package. While these questions focus on the latter half of the course, you should remain mindful of the economic concepts that were developed in the beginning of the course. An “A” paper will demonstrate a thorough understanding of the relevant topics, completely discuss each of the four points of the paper, use terminology appropriate to the topic, and use word choice, spelling, and sentence structure appropriate for graduate-level work.
Specific Formatting Instructions:
· All assignments must be completed as Word documents. If you do not have Word you can use Microsoft WordPad and use the rich text format (.rtf extension).
· All assignments must be prepared in the APA format, including references.
· Cover page. Use a single cover page that contains the title of the assignment and your name.
· Margins. All page margins should be the default margins for your word processing program. Use only the LEFT margin justification setting.
· Page numbering. Please use page numbering for all pages except the cover page.
· Spacing/Font. All papers should be single spaced only (this includes spacing between paragraphs) and a 12 point font.
· Direct quotes/ paraphrasing. Direct quotes and paraphrasing MUST be referenced and cited using APA guidelines. Although there is no limit on how many citations are in the paper, there is a limit of 15% for quotations and 25% for unoriginal wording for this course. When more than one quarter of a paper seems to be unoriginal, it usually indicates a problem. Even if sources are properly cited and some of the words are changed, it raises the question of how much original thinking went into the paper. There is a big difference between starting with a blank page and writing your own thoughts, and building the paper around quotes, paraphrased sources, and the altered wording of another author. You are encouraged to use textbook concepts as you attempt to explain in your own words the answers to the assignments rather than relying heavily on quoted material. Try to think about how you would explain your answer to someone who has not taken a managerial economics class. High scores on the originality report in Turnitin.com are not just a result of plagiarism; they can also result from an incorrect quotation/citation methodology or from using words that have been rearranged from your sources. If you use someone else’s work you must cite and reference it appropriately.
· References. You must include a separate References page in APA format with each paper. Any source that is used to develop your paper must be included in this section.
