Employee Compensation: Research and Practice

[Excerpt] An organization has the potential to remain viable only so long as its members choose to participate and engage in necessary role behaviors (March & Simon, 1958; Katz & Kahn, 1966). To elicit these contributions, an organization must provide inducements that are of value to its members. This exchange or transaction process is at the core of the employment relationship and can be viewed as a type of contract, explicit or implicit, that imposes reciprocal obligations on the parties (Barnard, 1936; Simon, 1951; Williamson, 1975; Rousseau, 1990). At the heart of that exchange are decisions by employers and employees regarding compensation

Human Factors Considerations in System Design

Human factors considerations in systems design was examined. Human factors in automated command and control, in the efficiency of the human computer interface and system effectiveness are outlined. The following topics are discussed: human factors aspects of control room design; design of interactive systems; human computer dialogue, interaction tasks and techniques; guidelines on ergonomic aspects of control rooms and highly automated environments; system engineering for control by humans; conceptual models of information processing; information display and interaction in real time environments

Pollution Prevention and Business Management. Curricula for Schools of Business and Public Health. Volume 1: Modules 1-3

These instructional modules are based on the premise that sustained economic development is dependent upon sustained protection ofthe environment. They also reflect the fact that preventing waste is far more cost effective than managing the waste once it is generated. Pollution prevention not only offers businesses a competitive opportunity, it is a natural extension of sound management practices. Incorporating pollution prevention into business management and government regulation will enhance longterm economic prosperity.published or submitted for publicatio

Understanding 'The Essential Fact about Capitalism': markets, competition and creative destruction

This paper examines two ways in which competition works in modern capitalist economies to improve productivity. The first is through incentives: encouraging improvements in technology, organisation and effort on the part of existing establishments and firms. The second is through selection: replacing less-productive with more productive establishments and firms, whether smoothly via the transfer of market shares from less to more productive firms, or roughly through the exit of some firms and the entry of others. We report evidence from the UK suggesting that selection is responsible for a large proportion of aggregate productivity growth in manufacturing, and that much of this is due in turn to selection between plants belonging to multi-plant firms. We also investigate whether the nature of the selection process varies across the business cycle and report evidence suggesting that it is less effective in booms and recessions. Finally, although in principle productivity catch-up by low-income countries ought to be easier than innovation at the frontier, in the absence of a well functioning competitive infrastructure (a predicament that characterises many poor countries), selection may be associated with much more turbulence and a lower rate of productivity growth than in relatively prosperous societies. We report results of a survey of firms in transition economies suggesting that, particularly in the former Soviet states (excluding the Baltic states), poor output and productivity performance has not been due to an unwillingness on the part of firms to change and adapt. On the contrary, there has been a great deal of restructuring, much new entry and large reallocations of output between firms; but such activity has been much more weakly associated with improved performance than we would expect in established market economies

Manufacturing in Scotland

Set against the backdrop of current thinking that UK manufacturing needs to move into higher value, this report, commissioned on behalf of the Scottish Manufacturing Advisory Service (SMAS) Board, set out to: Give an account of the current status of manufacturing SME’s in Scotland including current activities, aspirations, strategies and challenges facing them; Assess the progress Scotland has made towards high value manufacturing; Make recommendations as to the type of support needed to enable Scottish manufacturing SMEs invest in their long-term future. The resulting report is based on findings of a survey that delivered responses from 435 Scottish manufacturing companies and in-depth interviews with directors of 45 companies. This research was carried out during the period April to September 2008. Our research suggests that there have been significant shifts within manufacturing SMEs in Scotland. The most notable shifts include: A shift in the basis of competition. Our research suggests that the primary basis of competition for Scottish manufacturing SMEs is not price. Increasingly Scottish SMEs are adding value through quality and customer service. A shift in the nature and scope of operations. Whilst the primary business function of manufacturing companies remains production, there is evidence of increasing levels of design and service activity taking place. Companies reported they expected this trend to continue as the shift in the basis of competition away from price towards innovation and customer service gains pace. These changes suggest a move towards high value manufacturing. However there are major challenges facing Scottish SMEs if they are to compete on new value propositions. Of particular concern are: Lack of strategic vision and understanding of the capabilities and competencies needed to compete on the new value propositions. Whilst companies largely recognise the need to improve manufacturing efficiency, many have not embraced the need to develop and improve processes that deliver value to the customer (eg. Customer service processes, new product development processes etc). If customer service, innovation and quality are key differentiators and the way they add value, then companies need to ensure they have sustainable processes to deliver this value. Changes in operational activity have tended to be the result of evolution and opportunity rather than coherent operational strategy. Many companies need help in generating and enacting strategic change There is a lack of appreciation of the potential value of innovation in delivering value (and indeed the understanding of innovation in its many guises). Almost all companies interviewed reported some problems finding and retaining staff. Whilst in some cases labour shortages were due to specific skills and knowledge, there was also a general problem recruiting people with basic employability who had a desire to work in manufacturing. The poor image of manufacturing was a worry to the vast majority of interviewees. Many companies recognised the potential to exploit opportunities overseas. Some alluded to the fact that it might not be enough to market and export overseas, but that a manufacturing presence may be needed to fully exploit the opportunity. In terms of the support needed, companies stated that they would be looking increasingly for help and support in the areas of manufacturing efficiency and sales and marketing. Supply chain was also an area where companies reported they would be looking for help and support. Companies also suggested that they would like to see improvements in terms of “community”, with a number of interviewees looking for help in accessing not just help and support, but also introductions to other organisations. The research team believe that whilst not always recognised by the companies, support is also needed in the areas of strategy (and linked to this leadership) and in developing and improving processes that add value. Finally, the research suggests worryingly low levels of manufacturing entrepreneurship in Scotland, with only 3% of companies surveyed established within the past 5 years. This is worthy of further investigation. 4 Key findings and recommendations are expanded upon in Table 1. However the key recommendations can be summarised as: Manufacturing SMEs continue to require support in manufacturing efficiency, sales and marketing and supply chain. As companies move away from price as the main basis for competition and towards alternative value propositions, they also need support in developing and enacting strategy. Of particular urgency, companies need help in developing and improving the processes and capabilities that deliver value (beyond traditional manufacturing) Establishing processes that support innovation and product development will be central to the sustainability of many Scottish SMEs Further work needs to be done to investigate the apparent low levels of manufacturing start-ups Further work is needed to understand the areas where Scottish SMEs can actually compete on high volume /low complexity – often due to “localisation” factors Consideration should be given to supporting companies who wish to establish manufacturing overseas to exploit global opportunitiesA skills strategy must be created in line with the needs of manufacturing industry The poor image of manufacturing in Scotland needs to be addresse

Performance Pay, Risk Attitudes and Job Satisfaction

We present a sorting model in which workers with greater ability and greater risk tolerance move into performance pay jobs and contrast it with the classic agency model of performance pay. Estimates from the German Socio-Economic Panel confirm testable implications drawn from our sorting model. First, prior to controlling for earnings, workers in performance pay jobs have higher job satisfaction, a proxy for on-the-job utility. Second, after controlling for the higher earnings associated with performance pay, the job satisfaction of those in performance pay jobs is the same as those not in such jobs. Third, those workers in performance pay jobs who have greater risk tolerance routinely report greater job satisfaction. While these findings support the sorting model, they would not be suggested by the classic agency model.Performance Pay, Worker Heterogeneity, Ability, Risk Preferences, Sorting

Science-based restoration monitoring of coastal habitats, Volume Two: Tools for monitoring coastal habitats

Healthy coastal habitats are not only important ecologically; they also support healthy coastal communities and improve the quality of people’s lives. Despite their many benefits and values, coastal habitats have been systematically modified, degraded, and destroyed throughout the United States and its protectorates beginning with European colonization in the 1600’s (Dahl 1990). As a result, many coastal habitats around the United States are in desperate need of restoration. The monitoring of restoration projects, the focus of this document, is necessary to ensure that restoration efforts are successful, to further the science, and to increase the efficiency of future restoration efforts