Performance Contingent Pay Essay Example

Performance Contingent Pay Paper Viet Name banking sector was emerging rapidly after had Joined WTFO at the end of 2006 and performance contingent compensation is a widely accepted means for rewarding managers, but there is no empirical test of its effectiveness in Viet Name banking sectors. Does managerial compensation to organizational performance lead to higher organizational performance? It appears to be a truism that if you want to motivate high performance, you will attach rewards to it. Several prominent theories of organization behavior (Feint, 1976; Lealer, 1971, 1981) support this common sense view. The study of John L. Pearce, et al (1985) applied a time series procedure to organizational performance data in the Social Security Administration to indicate that the merit pay program had no effect on organizational performance in social organizations. Although, merit pay and bonuses for managers are common forms of compensation, there have been lacks of tests of their effectiveness, especially In banking sectors (Dyer Schwab, 1982). In this study, the author will apply a Box and Jenkins (1976) time series procedure, which was used by Perry Porter (1981) and Pearce, et al (1985), to determine whether or not implementing a merit pay plan that tied to managers salaries to organizational performance indicators resulted in improved organizational performance in Viet Names banking sector. The results of the study will contribute to the improvement of conceptualization of human resource management and help human resource managers in Viet Name banking sector planning compensation policy for managers more effectively. We will write a custom essay sample on Performance Contingent Pay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Performance Contingent Pay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Performance Contingent Pay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Many theorists have discussed the motivational aspects of pay. Poppas and Dinette (1966) reviewed several prominent psychological theories and discussed their implications for organizational compensation, but their study did not discuss about performance merit pay. Gallerias (1963) emphasized the symbolic role of money, but he did not prove about how to compensation should be applied to increase performance. Herbert, et al (1959) made the excited argument that pay is a hygiene factor, not a motivator factor of performance. However, Kings review of research 1970) found out not support for Herbert et al s two factor theory. Dams equity theory (1965) proposed that individuals who perceive themselves to be underpaid or overpaid may alter their efforts to achieve a balance between performance and reward. But again, Dye Schwab (1982) failed to support the performance predictions of equity theory. A Deterrent perspective was trotter Day Deck won contacted a series studies on the effects of externally mediated reward, such as pay, on laboratory subjects intrinsic motivation to engage in tasks. Decide drew on this research to argue that intention payment plans should be avoided because they reduce intrinsic motivation, lead individuals to develop strategies that will enable them to get rewards with least effort, and can easily break down. These arguments are particularly relevant to managerial Jobs, since such Jobs are more likely than a routine Job to be intrinsically rewarding and are less likely to be subject to extensive surveillance. Decide suggested that salaries are not directly based on performance are less likely to reduce intrinsic motivation than are salaries that are performance contingent. However, his study is not clear whether this substitution in task motivations will result in either increased or decreased task performance. Based on Brooms (1964) expectancy theory, Lealer (1971, 1981) argued that pay can be a powerful performance incentive because it can be used to satisfy so many needs. However attractive money may not motivate performance unless it is contingent on performance and he presented some studies which showed that managerial pay is seldom contingent on performance. Hair, Eggshell, and Gordon (1967) reported that managerial raises are often uncorrelated from one year to the ext, indicating that either managerial performance is quite different from one year to the next that raises are not based on performance but on other, possibly variable, criteria. Although, most scholars advocate performance contingent pay systems, they recognize that under certain conditions the implementation of such systems may be more dysfunctional than functional. According to Lealer (1971, 1981), performance contingent pay should not be used when trust levels are low, performance cannot be validly and inclusively measured, and large pay rewards cannot be given to the best reformers. Lealer (1971) also acknowledged that managers may not control all of the factors that affect their units performance, concluding that under such circumstances subjective Judgments by superiors and objective unit performance data should be combined into a managerial performance measure on which pay could be based. Although there have been empirical studies of the effect of performance contingent pay for non-management employees (Dyer Schwab, 1982; Feint, 1976), there have been lacks of tests of the effect of performance contingent pay for managers, specially in banking sector. Feint (1976), reporting a consulting firms 1971 survey, writes that firms with formal bonus plans (which, we infer, were based on a measure of firm performance) had an average pre-tax return on investment of 15. 8 percent, compared to 1 1. 7 percent for firms without a formal plan. The after tax profits were 8. Percent versus 5 percent. Unfortunately, Feint cannot tell anything about the sample or whether these Territories were sat t TLS Cyclical slanting. Redline (1981) used a randomly selected sample of 25 companies and measured a 5 ear performance ranking that combined earnings growth and returns on shareholders equity. He correlated each organizations ranked performance with its base salary growth and with its salar y plus bonus growth over 5 years. He found a correlation of 0. 16 between base salary increase and firm performance and a correlation of 0. 9 between salary plus bonus increase and performance, from which he concluded that there are a little indication of the existence of performance contingent pay plans in current top executive compensation. Loomis (1982), the one who plotted 1981 compensation (salaries, bonuses, profit haring, stock purchase contribution) against return on stockholders equity, found a less than perfect correspondence, and more over, highlighted extreme case of executives receiving relatively large increases in compensation during a period of deteriorating profitability for their firms. Loomis argued that executive compensation in these prominent publicly held firms should be more directly tied to firm performance. Dye Schwab (1982) noted that there is research evidence that incentive pay plans for non-management employees produce higher productivity. Pearce, et al (1985) analyzed the effect of the implementation of a performance contingent pay program for managers indicated that its implementation had no statistically significant, gradual, permanent effect on the general trend of organizational performance in 1 1 out of 12 tests. But there were some limitations of this study that prevent drawing definitive conclusions about the effects of merit pay on organizational performance. One of them is that there were evidences that the implementation of this federal merit pay program was flawed in several ways. In Addition, he suggested that in his search, as in so many real world quasi-experimental designs, it was not possible to study a comparable control group, although looking at 4 years of monthly performance measures gave him some control over rival hypotheses. Pearce study (1985) cannot definitively prove or refute the effectiveness of merit pay for managers. The review of theory and research related to managerial compensation to organizational performance shows that there is still lack of conclusive empirical support for this assumption. In order to find more evidences about the effect of reference contingent pay for managers, this study will attempt to assess the actual effects on organizational performance of the performance contingent pay for managers in Viet Name banking sector.

Artworks by Jeff Koons

Artworks by Jeff Koons New Hoover Convertibles Jeff Koon was one of the most controversial artists of the post war time, his works were designed to provoke, shock, astonish, but at the same time, to inform, point out and communicate.1Advertising We will write a custom essay sample on Artworks by Jeff Koons specifically for you for only $16.05 $11/page Learn More His work called â€Å"New Hoover Convertibles† was created in 1981. The visually distinctive factors of this work are the three vacuum cleaners that were advanced for their time. The artist put them into a transparent container make of acryl and added fluorescent lights in the bottom so that the exhibits were properly lit. By inserting the vacuum cleaners into the transparent box and adding fluorescent dramatic lighting the artist made the appliances look like very valuable trophies. This was done in order to communicate the public passion for consumption and the change of values in the society. Koons pointed out th at in the beginning of eighties household appliances were something people had to work hard to buy, they represented everyone’s big goal, they were the evidence of an important achievement. The historic factors that influence Koon and inspired him to create this work of art was the rapid development of technologies and the social passion for consumption and the love for pristine newness.2 Besides, the way the three vacuum cleaners are arranged – in a straight line, makes it clear that the work of art symbolizes not only consumerism but capitalism dwelling in the supermarkets and putting the goods in geometrically correct rows, lines and forms. His work represents the mass culture of the beginning of the eighties and the use of readymade goods presents the nature of consumption in a controversial way by comparing usual objects to valuables and paying capacity to an achievement.Advertising Looking for essay on art and design? Let's see if we can help you! Get you r first paper with 15% OFF Learn More Triple Elvis Triple Elvis is a work of art that contains three levels. They are arranged hierarchically. The closes object seen by the viewers of the work is a blow up pool toy shaped as a red lobster. The second dimension of the work includes three photographs of a half naked Playboy model in seductive poses. The last layer is the print made of Westermann’s art works arranged one over another in an abstract manner. This layer is located the farthest from the audience. Each of the dimensions overlaps with the ones near to it. Lobster pool toy is put on top of the whole work. By creating such hierarchy in his art work, Koons demonstrated the reversed values where art is at the very bottom of the pyramid, and pornographic images are more important than it.3 They also are bigger in size. Finally, the very top is occupied by a very simple entertainment item that is not artistic at all. Adding it to his pyramid of art Koons sho ws the new attitude towards aesthetics and beauty. Making the lobster a part of the art work and actually placing it on top of everything else Koons demonstrated the ranks of values. This way Koons’ pyramid of art turns to the pyramid of consumption. The most popular kind of goods and entertainments are represented by the pool toy. The next is a series of images of sexual character – the second most popular consumption product. Finally, art is at the very bottom and is mixed up. In this work Koons makes art a part of consumption culture of the eighties. This is why all art works of Koons were based on the elements of Triple Elvis. Bibliography Farago, Jason. â€Å"Jeff Koons: A Retrospective review – great, good, bad and terrible  art†. The guardian. Web.Advertising We will write a custom essay sample on Artworks by Jeff Koons specifically for you for only $16.05 $11/page Learn More Fineberg, Jonathan. Art Since 1940. Upper Sad dle River: Peason, 2010. Jeff Koons: A Retrospective†. Whitney.org. Web. Footnotes 1 â€Å"Jeff Koons: A Retrospective†, Whitney.org. 2 Jason Farago, â€Å"Jeff Koons: A Retrospective review – great, good, bad and terrible art†, The guardian. 3 Jonathan Fineberg, Art Since 1940 (Upper Saddle River: Peason, 2010), 460.

The Life and Death of O. Henry (William Sydney Porter)

The Life and Death of O. Henry (William Sydney Porter) Famous short-story writer O. Henry was born William Sydney Porter on Sept. 11, 1862, in Greensboro, N.C. His father, Algernon Sidney Porter, was a physician. His mother, Mrs. Algernon Sidney Porter (Mary Virginia Swaim), died from consumption when O. Henry was just three years old, so he was raised by his paternal grandmother and his aunt. Early Years and Education O. Henry attended the private elementary school of his aunt, Evelina Porter (Miss Lina), starting in 1867. He then went to Linsey Street High School  in Greensboro, but he  left school at the age of 15 to work as a bookkeeper for his uncle at W. C. Porter and Company Drug Store. As a result,  O. Henry was largely self-taught. Being  an avid reader helped. Marriage,  Career, and Scandal O. Henry worked a number of different jobs, including as a ranch hand in Texas, licensed pharmacist, draftsman, bank clerk, and columnist.  And in 1887, O. Henry  married Athol Estes, stepdaughter of Mr. P. G. Roach. His most notorious occupation was as a bank clerk for the First National Bank of Austin. He resigned from his job in 1894 after he was accused of embezzling funds. In 1896, he was arrested on charges of embezzlement. He posted bail, skipped town, and finally returned in 1897 when he learned that his wife was dying. Athol died on July 25, 1897, leaving him one daughter, Margaret Worth Porter (born in 1889). After O. Henry served his time in prison, he married Sarah Lindsey Coleman in Ashville, N.C. in  1907. She  had been his childhood sweetheart. They separated the following year. The Gift of the Magi Short story The Gift of the Magi is one of O. Henrys most famous works. It was published in 1905 and chronicles a cash-strapped couple tasked with buying Christmas presents for each other. Below are some of the key quotes from the story. One dollar and eighty-seven cents. And the next day would be Christmas.There was clearly nothing to do but flop down on the shabby little couch and howl. So Della did it. Which instigates the moral reflection that life is made up of sobs, sniffles, and smiles, with sniffles predominating.The magi, as you know, were wise men - wonderfully wise men - who brought gifts to the Babe in the manger. They invented the art of giving Christmas presents. Being wise, their gifts were no doubt wise ones. Blind Mans Holiday Blind Mans Holiday was published in the short story collection Whirligigs in 1910. Below is a memorable passage from the work: Man is too thoroughly an egoist not to be also an egotist; if he love, the object shall know it. During a lifetime he may conceal it through stress of expediency and honour, but it shall bubble from his dying lips, though it disrupt a neighbourhood. It is known, however, that most men do not wait so long to disclose their passion. In the case of Lorison, his particular ethics positively forbade him to declare his sentiments, but he must needs dally with the subject... In addition to this passage, here are key quotes from O. Henrys other works: He wrote love stories, a thing I have always kept free from, holding the belief that the well-known and popular sentiment is not properly matter for publication, but something to be privately handled by the alienist and the florist.  - The Plutonian FireIt was beautiful and simple as all truly great swindles are.  - The Octopus Marooned Death O. Henry died a poor man on June 5, 1910. Alcoholism and ill health are believed to have been factors in his death. The cause of his death is listed as cirrhosis of the liver. Funeral services were held at a church in New York City, and he was buried in Ashville. His last words are said to have been: Turn up the lights - I dont want to go home in the dark.

Dael with deferent situation Essay Example | Topics and Well Written Essays - 1750 words

Dael with deferent situation - Essay Example However, money is a short term motivator and only money is used to motivate the workforce, than can create an unhealthy relationship as the workforce can start perceiving the management as unfeeling, tyrannical force which does not have consideration for their actual needs. At the higher levels of work, the workforce require non-money motivators such as praise, recognition, acknowledgement, and a sense of belonging which can go a long way in building the sense of belonging and the self-esteem need is hence, fulfilled creating a good working relationship and effectively, a positive outlook. Answer:2 There are forms of power and two of those, are called as visible and invisible powers. Visible power is defined as the first face of power and is the vocal voice of power in a manner of speaking. This is that source of power which can be demonstrated through participation in decision making and having a certain influence in the decision making process itself. This power can be observed and is "pluralist" sense of power. The second categorization of power; invisible power is that power which allows the shaping of people's needs and wants. It is embedded in the social, cultural, ideological values and norms. It is an internalized sense of power which cannot always be observed. ... d resources-clearly, the difference of the composition of these two results in the basic differences in power itself If a person is more motivated to prove himself/herself, she would be motivated to show the skill by a visible sense of power while a equally motivated person could be more interested in remaining on the sidelines and shaping the wants and needs. Answer 3: A diagram depicting the main ideas of the article: Decreasing Incinerators usage PVCs decreasing -Mercury levels down-Proper disposal-Eyeing greater biological swath Energy & H2p conservationProduce of Dioxin Healthier food practices-greener suppliers-No VOCs or Low Vocs b) The stakeholders interested in this venture and who would have a certain aim, stake involved would be the; the environmentalists such as the United States Protection Agency, other concerned environmental groups, the community consisting of people going to hospitals, the people working in the health sector, the healthcare industry including the public and private officials, the architectural firms who specialize in healthcare projects, and if the situation becomes critical then even the World Health Organization. The perspective of the healthcare industry and its officials would be that they would want to have this issue taken care of as soon as possible. The publicity that this issue has been getting has created a negative image and has caused extensive damage to the credibility of the industry itself .By taking preventive measures, the industry officials want to clean up the "mess" while safeguarding the future The perspective of the concerned community would that of safeguarding their interests by

Gerontology clinician Essay Example | Topics and Well Written Essays - 1500 words

Gerontology clinician - Essay Example Gerontologists study how older people are treated within a society and how elderly deal with the inevitable problems of aging, particularly those involving health and income. Health problems include normal losses in hearing, eyesight, and memory, and the increased likelihood of the incidence of chronic disease. These losses are gradual and proceed at different rates for each individual. In general, the health of older people today is superior to that of previous generations- a condition that is likely to improve still further as more people receive better medical care throughout their lives. In most industrial societies, the high cost of treating chronic illness has been assumed, at least partially, by national health insurance schemes. The second major problem of the elderly involves income and economic welfare. Because most old people no longer form part of the labour force, some form of income maintenance is necessary. Industrial societies generally employ systems of pensions and social security benefits partly for this purpose. In spite of this fact, however, many elderly people live below, on, or only slightly above the poverty level; these are predominantly women and members of ethnic and other minority groups for whom economic security has always been insecure. (Le Shan, 1986) The third factor is that the vast majorities of elderly men are married and live with their wives in homes of their own. In the west generally, many widowed women are able to maintain an independent one- person household. Thus, fewer than about 20 percent of the elderly live in the household of an adult child, and around only around 5 percent are in institutions such as hospitals or nursing homes. Those who live with an adult child or who are institutionalized are typically very old or have serious health problems. Although both the elderly and their children express a strong preference for independent residence, most old people live within a few hours' travel of one of their children. The fourth factor is that the Social relationships might be difficult to maintain in old age because of health limitations, the death of family members and friends, loss of workmates, and lack of suitable affordable transport. Still, many old people invest as much time and energy as possible in friendships and family, and find companionship at special centers and day clubs for senior citizens. Historically, in the past particularly, old people commanded respect, as; indeed they still do in countries such as China and Japan, and the fate of other family members. In most modern societies, however, young people are independent; they themselves choose whom they will marry, and receive public education.(Rashkis, Harold A, 1981). Elderly people themselves, however, often display high levels of morale, satisfaction with life, and feeling of self-worth, even though recently there have been increasing instances of neglect and ill-treatment of elderly people. The important variables in this are, of course, health and income. The responsibility of modern societies in this respect is to ensure that the aged have their basic needs met and that they have the resources to continue to function usefully and happily within the community. (Butler, Robert, 1975). Ageing in biology, combination of changes in an organism that appear to occur inevitably and irreversibly with the passage of time, eventually resulting in death. Among humans they include a decrease in tissue flexibility, loss of some

Professional Essay -- Teaching Education Careers Essays

Professional As people go through life, they most likely come upon a person who affects their life for the better, and sends them in the right direction. For some, however, they may never have a person who gives them this push, or perhaps someone had the opportunity to be that person who does the pushing, but does not. Many people have been propelled to success because of the care of another person. Some of these positive influences may include a parent, minister, or a friend. Though all three of these persons embody the needs of everybody from time to time, it is the teacher who connects these together and gives a person more that just an education. In every human’s life, they will come in direct contact with a teacher, whether it is in preschool or a jobsite. A teacher is what I have set out to be, to educate, to challenge, to push, to guide, and to nurture. The purpose of education is to prepare young people to leave the care of their parents, and build their own lives. The days of getting by with a high school diploma or just an elementary education are over. High school is only a stepping-stone to things much higher and harder, and there are many paths that students can choose from. I want my students not only to gain knowledge, but also to search with in themselves and find what they want to do, to give the students the push in the right direction to achieve their goals. Parents put their trust in teachers to prepare their children go on to bigger things; this is a responsibility that I take very seriously. I believe it is a profound injustice to a student to give them a half-hearted education and leave them behind others when they go out to compete in college or the workforce. I know the feeling of being ... ...t his long time placement. The ally that these organizations provide makes the job much easier knowing that someone is behind you. I would not want to work in any field without having the protection of an organization such as this in case something came up such as that. Looking over the last 15 years of my life, my teachers have been a great impact on my life both mentally and socially. In a rapid growing technological society, teachers are vastly needed to prepare students for the road ahead. I decided that I wanted to become a teacher so I can have an impact on someone else’s life as my teachers have done for me. Teaches bring a world of knowledge to an empty slate and push students to want more in life. Being a teacher, I will do my best to challenge my students to take the lessons that I teach and use them to make their lives the best that they can be.

Meaning of Working Capital Essay

Working capital refers to the part of total capital which is required for day to day working of the business. The funds are required by the business for conducting its regular operations such as purchase of raw materials of finished goods, payment of wages & manufacturing expenses, office and administrative expenses, selling & distribution expenses. The funds necessary for making such regular payments of business is called Working Capital therefore have been defined as â€Å"the amount of funds necessary to cover cost of operating the enterprise.† The working capital of a business enterprise is measured on the basis of its funds locked up in various current assets such as inventors, accounts receivables and cash & bank balance. 2.2 Definition of Working Capital– Various authorities have difined working capital in following manner. (1)â€Å"Working Capital is the amount of funds necessary to cover the cost of operating the buisness enterprise.â€Å"(Shuibn) (2)â€Å"Working Capital is the difference between the book value of the current assets.and the current liablities.â€Å"(Hoagland) 2.3 Circulating Capital– â€Å"Circulating capital means current assets of accompany that are changed in the ordinary course of business from into another, as for example from cash to inventories, inventories to receivables and receivables into cash.† Cash Raw Receivables Materials Finished goods Work-in-progress 2.4. Classification of Working Capital – 1. Gross Working Capital5. Variable Working Capital 2. Net Working Capital 6. Balance Sheet Working Capital 3. Negative Working Capital 7. Cash Working Capital 4. Permanent Working Capital 2.5. Sources of Working Capital- The following are the some important of the sources of working capital.