Analyzing Managerial Decisions Structuring Compensation Plans
Complete questions in Chapter 14 - “Analyzing Managerial Decisions: Structuring Compensation Plans” page 446 Brickley, J., Smith, C., & Zimmerman, J. (2009). Managerial economics and organizational architecture (5th ed.). New York: McGraw Hill/Irwin. Your response should focus on answering the question at the end of the case and providing explanation of your answer from reading the chapter. Case Assignments: All questions should be answered for this case study. If calculations would enhance your commentary, it is strongly urged that you include these calculations. The length of a case study is determined by how well you include the requested information. Succinct, complete answers that show that you have prepared your writing with thought and reflection are preferable to answers that ramble and are not reflective of the course content. A complete, well-developed response can be given in several paragraphs or several pages depending on the question and your ability to articulate your answer. You are encouraged to use textbook concepts listed in chapter as you attempt to explain in your own words the answers to the assignments.
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TOPIC: Analyzing Managerial Decisions: Structuring Compensation Plans
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Compensating people effectively is one of the major management challenges faced by many upcoming businesses. An incentive compensation plan will ignite some form of creativity and enhance employee morale towards higher productivity. Therefore, the right compensation plan will ignite a business to scale. Everybody in any firm, from the top management to the low-level employee, receives some form of compensation and this compensation is time-bound. Forms of compensation might include the fringe benefits, discounts and even the commissions in regard to the sales-oriented companies CITATION REh06 \l 1033 (Smith, 2006).
Considering the case of Parkleigh Pharmacy and that of Kaufmann, different compensation plans might be employed by firms for scaling. The employees at Parkleigh are paid commission-free hourly wage but are still entitled to thirty percent discount on any purchases they make at the store while those at Kaufmann are paid lower hourly wage plus a commission of five percent on the sales they make. These compensation strategies differ because Parkleigh...
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