Baby Bus
Oh no! It's a trap!
Do different wacky smiles for 5 seconds.
Some fringe benefits are exempt from paying ____________.
Tax
If answer is wrong, roar like a lion for 10 seconds.
____________ is a type of financial payment system that rewards workers a certain percentage of the sales.
Commission
Additional Question:
What could be the consequences of using commission as a financial rewards?
_______________ can be in the form of cash bonuses if an employee meets or exceeds predetermined targets or goals.
Performance-related pay
If answer is wrong, make elephant sounds for 5 seconds.
Oh no! It's a trap!
Sing the Shopee song for 15 seconds.
Secret question inside:
How much is the minimum wage in Manila per day?
Five hundred thirty seven pesos. (P537)
Who was your very first crush?
Salaries are a fixed cost of production whereas wages are a __________ cost of production.
variable
This is a strict and rigid management style that involves only managers making all the decisions in an organization.
Autocratic
In Maslow's Theory, what is highest need in the hierarchy after self-actualization?
Esteem Needs
The desire to be respected and valued.
Managers need to consider financial rewards in a __________ way.
balanced
(Enough to retain staff but will not make profitability suffer.)
____________ is a type of financial reward system which remunerates workers a certain percentage of the annual profits that the business earns.
Profit-related pay
This is good as employees will be motivated to achieve the organization's profit goals.
But can be demotivating if targets are too high.
Additional Task:
____________ is about influencing other people to achieve a vision or goal.
Leadership
Pretend that you won the election as President of the country.
Say your speech in 1 minute.
______________ are the set of pay structures and monetary payments within an organization.
Financial rewards
________________ managers prefer to consult staff before making any firm decisions.
Democratic
____________ managers act rather like parents - they take actions that they believe are in the best interest of the subordinate
Paternalistic
____________ (also known as perks) are financial benefits of a job in excess of the basic pay.
Fringe benefits
Examples of fringe benefits are:
Free Wifi, company car, dental care insurance, free staff uniforms, meal allowances, discounts.
________ are a type of financial reward payment system based on time or output.
Wages
An ________________________ is a type of financial payment system that involves giving workers shares in the company they work for.
employee share ownership scheme
This comes in two main forms:
The company gives employees a number of shares, freely without any charge
Employees are offered the opportunity to purchase shares at a discounted price
Oh no! It's a trap!
Make monkey sounds for 10 seconds! hahaha!
____________ is rewarded for long-term service – this refers to pay awarded for the completion of a contract or for long-term service.
Gratuity pay
____________ refers to the overall financial package of a person
Remuneration
(salaries, wages (time and piece rates), commission, profit-related pay, performance-related pay (PRP), employee share ownership schemes, and fringe benefits.)
Enumerate the functions of management according to Henry Fayol.
Planning, Organizing (& Staffing), Commanding/Leading, Coordinating, Controlling
If answer is incomplete, dance like crazy for 30 seconds.
___________ payment systems reward workers based on their output or productivity.
Piece rate
If answer is wrong, jump for 3 times. :p
Although piece rate can improve staff motivation, it can create unnecessary conflict and competition between employees.
Enumerate 3 Hygiene factors in Herbeg'z Theory.
Supervision, Working Conditions, Company policies, Job Security, Pay, Status, Working relationships.
Additional Task:
Daniel Pink's Drive Theory is about: Autonomy, __________, and _____________.
Mastery, Purpose
Sing your favorite song for 1 minute.