1 page, 465 words
Everyone loves to wear nice clothes. Teenagers love to wear the new fashion and show of the latest clothes. But what they never realize is: do they really get what they pay for? It is important they begin to realize what people go through, just to make some clothes. It is important that they understand the advantages and disadvantages of the globalization fashion industry. Firstly a trans-national company (Tnc) is a company for example Nike, and they have become very global and too powerful for governments. Some advantages of globalization are: the cloths will be in very good quality and the tnc´s e.g. adidas are giving people in ledc´s jobs in factories. A minor point about these factories is that they pay the people very little. For example, 5 cents per half an hour. Another advantage about globalization is that it has helped trade become easier across the countries. This is because of an act called free trade. It sets no barriers between each country .for example a poor country has no possibility of trading and earning money, then globalization steps in and introduces free trade; this helps the country to get richer.
And finally another advantage is globalization has helped Tnc´s like Nike advertise their products across Europe, making everyone want some Nike clothes. Even though there are lots of advantages there are also many disadvantages. The clothes you buy, for example a nice jumper from gap, might cost you 50 euros, but only one euro of that price will go to a poor, young boy in India. Another disadvantage is, that if a company making a really nice clothes and suddenly immigrants are copying these clothes, but selling them for less, then the costumers will start buying the clothes made by the immigrants instead, which means the company (Tnc´s) will start losing money, so they will begin to fire the factory workers, meaning factories will earn less money, which means the country would earn less money.
3 pages, 1043 words
The Essay on Globalization – Advantages And Disadvantages
Globalization can be described as a process by which the people of the world are unified into a single society and function together. This process is a combination of economic, technological, sociocultural and political forces. It’s a movement of people, goods, capital and ideas due to increased economic integration. Globalization is a controversial issue mainly because different groups …
And finally you can never know if your clothes are made by adults, not children, and if they are being kept in good conditions. This all came into sight after gap was caught by having their cloths being made by children. This also leaves the question; Are they being paid enough as well?-the answer is “no”. The average pay for a factory worker in India was 10 cents per hour. This is definitely is not enough. I hope that this essay has made you think a bit more about what you buy, and what you where it actually is made from. In conclusion Tnc´s like Nike, adidas, gap and many more is a good thing because, it helps to develop poor countries , and it helps the country be more friendly to each other.
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Motivation, Performance, and Pay
Financial rewards paid to workers whose production exceeds a predetermined standard. Individual Differences
Law of individual differences
The fact that people differ in personality, abilities, values, and needs. Different people react to different incentives in different ways. Managers should be aware of employee needs and fine-tune the incentives offered to meets their needs. Money is not the only motivator.
Employee Preferences for Noncash Incentives
Needs and Motivation
Abraham Maslow’s Hierarchy of Needs
Five increasingly higher-level needs:
physiological (food, water, sex)
security (a safe environment)
social (relationships with others)
self-esteem (a sense of personal worth)
self-actualization (becoming the desired self)
Lower level needs must be satisfied before higher level needs can be addressed or become of interest to the individual.
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Herzberg’s Hygiene–Motivator theory
Hygienes (extrinsic job factors)
Inadequate working conditions, salary, and incentive pay can cause
dissatisfaction and prevent satisfaction. Motivators (intrinsic job factors)
Job enrichment (challenging job, feedback and recognition) addresses higher-level (achievement, self-actualization) needs.
The best way to motivate someone is to organize the job so that doing it helps satisfy the person’s higher-level needs.
Intrinsically motivated behaviors are motivated by the underlying need for competence and self-determination. Offering an extrinsic reward for an intrinsically-motivated act can conflict with the acting individual’s internal sense of responsibility. Some behaviors are best motivated by job challenge and recognition, others by financial rewards.
Instrumentality and Rewards
Vroom’s Expectancy Theory
A person’s motivation to exert some level of effort is a function of three things: Expectancy: that effort will lead to performance.
Have to have the skills to do the job
Instrumentality: the connection between performance and the appropriate reward. Goal must be attainable
Valence: the value the person places on the reward.
Motivation = E x I x V
If any factor (E, I, or V) is zero, then there is no motivation to work toward the reward. Employee confidence building and training, accurate appraisals, and knowledge of workers’ desired rewards can increase employee motivation.
Types of Incentive Plans
Variable pay (organizational focus)
A team or group incentive plan that ties pay to some measure of the firm’s overall profitability. Variable pay (individual focus)
Any plan that ties pay to individual productivity or profitability, usually
as one-time lump payments.
Individual incentive/recognition programs
Sales compensation programs
Team/group-based variable pay programs
Organizationwide incentive programs
Executive incentive compensation programs
Individual Incentive Plans
The worker is paid a sum (called a piece rate) for each unit he or she produces. Straight piecework: A fixed sum is paid for each unit the worker produces under an established piece rate standard. An incentive may be paid for exceeding the piece rate standard. Standard hour plan: The worker gets a premium equal to the percent by which his or her work performance exceeds the established standard.
Pro and cons of piecework
Easily understandable, equitable, and powerful incentives.
Employee resistance to changes in standards or work processes affecting output Quality problems caused by an overriding output focus.
Employee dissatisfaction when incentives either cannot be earned due to external factors or are withdrawn due to a lack of need for output
A permanent cumulative salary increase the firm awards to an individual employee based on his or her individual performance. Merit pay options
Annual lump-sum merit raises that do not make the raise part of an employee’s base salary. Merit awards tied to both individual and organizational performance.
Incentives for professional employees
Professional employees are those whose work involves the application of
learned knowledge to the solution of the employer’s problems. Lawyers, doctors, economists, and engineers.
Decisions can be challenging
These individuals are already well paid and are driven to succeed Possible incentives
Bonuses, stock options and grants, profit sharing
Better vacations, more flexible work hours
Improved pension plans
Equipment for home offices
Recognition has a positive impact on performance, either alone or in conjunction with financial rewards. Combining financial rewards with nonfinancial ones produced performance improvement in service firms almost twice the effect of using each reward alone. Day-to-day recognition from supervisors, peers, and team members is important.
Online award programs
Programs offered by online incentives firms that improve and expedite the awards process. Broader range of awards
More immediate rewards
Information technology and incentives
Enterprise incentive management (EIM)
Software that automates the planning, calculation, modeling and management of incentive compensation plans, enabling companies to align their employees with corporate strategy and goals.
Incentives for Salespeople
Best for: prospecting (finding new clients), account servicing, training customer’s salesforce, or participating in national and local trade shows. Commission plan
Pay is only a percentage of sales
Specialized Combination Plans
Commissions are paid but a draw on future earnings helps the salesperson to get through low sales periods. Commission-plus-bonus plan
Pay is mostly based on commissions.
Small bonuses are paid for directed activities like selling slow-moving items.
Organizationwide Variable Pay Plans
Employees receive cash shares of the firm’s profits at regular intervals. The Lincoln incentive system
Profits are distributed to employees based on their individual merit rating. Deferred profit-sharing plans
A predetermined portion of company profits is placed in each employee’s account under a trustee’s supervision.
Organizationwide Variable Pay Plans (cont’d)
Employee stock ownership plan (ESOP)
A corporation annually contributes its own stock—or cash (with a limit of 15%) to be used to purchase the stock—to a trust established for the employees. The trust holds the stock in individual employee accounts and distributes it to employees upon separation from the firm if the employee has worked long enough to earn ownership of the stock. Advantages of ESOPs
ESOPs help employees develop a sense of ownership in and commitment to the firm, and help to build teamwork. No taxes on ESOPs are due until employees receive a distribution from the trust, usually at retirement when their tax rate is lower.
At-Risk Variable Pay Plans
At-risk variable pay plans that put some portion of the employee’s weekly pay at risk. If employees meet or exceed their goals, they earn incentives. If they fail to meet their goals, they forgo some of the pay they would normally have earned.
Short-Term Incentives for Managers And Executives
Plans that are designed to motivate short-term performance of managers and are tied to company profitability. Eligibility basis: job level, base salary, and impact on profitability Fund size basis : nondeductible formula (net income) or deductible formula (profitability) Individual awards: personal performance/contribution
Long-Term Incentives for Managers And Executives
The right to purchase a specific number of shares of company stock at a specific price during a specific period of time.
Other Executive Incentives
Payments companies make to departing executives in connection with a change in ownership or control of a company. Guaranteed loans to directors
Loans provided to buy company stock.
A highly risky and now frowned upon practice.
Creating an Executive Compensation Plan
Define the strategic context for the executive compensation program. Shape each component of the package to focus the manager on achieve the firm’s strategic goals. Create a stock option plan to meet the needs of the
executives and the company and its strategy. Check the executive compensation plan for compliance with all legal and regulatory requirements and for tax effectiveness. Install a process for reviewing and evaluating the executive compensation plan whenever a major business change occurs.
Why Incentive Plans Fail
You get what you pay for.
“Pay is not a motivator.”
Rewards rupture relationships.
Rewards undermine intrinsic motivation.
Implementing Effective Incentive Plans
Ask: Is effort clearly instrumental in obtaining the reward? Link the incentive with your strategy.
Make sure effort and rewards are directly related.
Make the plan easy for employees to understand.
Set effective standards.
View the standard as a contract with your employees.
Get employees’ support for the plan.
Use good measurement systems.
Emphasize long-term as well as short-term success.
Paul A. Kirschner & Mirjam Neelen
We all know the expression “You get what you pay for” (for older and more classical Brits reading this, “a bad bargain is dear at a farthing”. Although such proverbs and clichés are often true, this one is generally used as an excuse to sell something at a very high price. You can hear the sales guy talking: “This Rolex might be expensive yes, however the quality is unrivalled; the ultimate choice”.
Another example, probably closer to home for most of us, is the high costs of school books. Publishers use the ‘high quality’ argument as a reason to ask for high prices. After all, so they argue, they have invested a lot of time and money in attracting top authors, who they then support with editors, designers, and, sometimes, even an educational expert.
They’re trying to convince schools, school boards, and parents to buy books and other educational materials from them, because: “Quality Is Our Strength”. However, who knows? Maybe their slogan should actually be: “Convincing You that We Sell Quality Is Our Strength”?
The question that this blog addresses is: Is it fair that governments, schools, and parents have to pay a lot of money for “quality” in the educational materials that their children use (and that they themselves use in the case of continuing or lifelong education and learning) while free and easily accessible information and source materials are an everyday reality in today’s world? It’s not only that; open educational resources (OERs) are on the rise. These open educational materials are available for free and include open licences for (re)use and editing by teachers and students; sometimes completely open, sometimes with some conditions. Possibly the most common licenses makes use of the condition that you can edit the material if you intend to give future users permission to use and edit your materials, that it is attributed to you, but that the user is not using it for commercial purposes. This follows the principle of equal sharing, or copyleft instead of copyright along with the condition that you can’t use any materials for commercial purposes.
In two large-scale studies where teachers created OER-only educational books from materials that were available to them for free, researchers studied whether the slogan “You get what you pay for” is true or not for educational materials.
One of those studies was carried out in American vocational education institutions and has analysed how learning outcomes with OER educational materials compare to learning outcomes with materials that were purchased from educational publishers. The study included 16,727 students. Of these students, 4,909 used OER materials and 11,818 used educational publisher’s content. The materials were for the subjects math, English, psychology, biology, science, business, and history.
In a second study, this time at a regular high school, the researchers determined if students who used OER materials (books were at a cost of $5 each – for just-in-time electronic printing – and e-books were available at no cost) achieved different learning outcomes than students who used “regular”; that is publisher books. This study had 4,183 student participants and 43 teacher participants and focussed on subject such as geography, biology, and science.
Both studies showed that learning results with OER materials were at least the same and often significantly better than learning outcomes achieved with publisher content. In other words, the OER materials (the cheap) were at least as good, if not better, than those of educational publishers (the expensive).
And what about teachers? Bliss et al., (2013) studied the acceptance of open learning materials by both students and teachers. Half of the students thought that the quality of the OER materials was the same as that of publisher content and 40% even thought that the OER materials were better. For the teachers, these percentages were 55% and 35% respectively. Based on survey results, Pitt (2015) concluded that – according to teachers- OER materials not only led to more satisfied students, it also helped teachers better respond to student needs, made teaching easier, and sometimes even led to changes within their own, ingrained teaching methods.
Now that we know that OER materials are as good or even better than publisher content, we can explore what this could mean from a financial perspective, especially in today’s world where schools usually have very tight budgets. As the first author of this blog works in a Dutch situation, we look at a commonly used Dutch method called Rekenrijk (EN: Math Kingdom), which is a commonly used method for maths in elementary school. According to the publisher, Noordhoff, the cost for this package comes down to €41,000 ($45,000, £32,500). This is based on a school size of 200 students with 8 groups of 25 students and a licence for 8 years, including student and teacher software. To compare: the OER materials as studied in the research would cost $1,000 (€900, £720)!
Will e-books be cheaper in the future? Not very likely. Publishers don’t sell e-books, they rent them out. As a user, you generally receive a personal user licence and when the licence expires, you can no longer use the e-book. For example, some publishers offer a licence for only one school year and that licence expires automatically. Also, something quite inconvenient, a lot of e-books have a security feature so that you cannot print the e-book (this is called Digital Rights Management). So, if you prefer to read from paper instead of a screen, that’s a real disadvantage.
Time Magazine has calculated that a new educational paper-based book on Amazon that cost $100 to purchase would cost $34 to rent for one school year. So, renting an e-book is cheaper if a school only uses the content for 3 years. However, if we look at the normal age of books being used by a school, the school would use the materials for many more years (in California the average replacement of a textbook takes place after at least 6-7 years) and the savings melt away as snow in the spring and actually become extra costs. Also, while this might seem to be a boon for college students who rent e-books themselves, “e-textbooks can’t be returned or the rental period terminated early if a student drops a class. They also can’t be resold at the end of the semester to recoup a portion of the book’s cost”.
Getting back to the OER materials, the University of Georgia has estimated that since 2013 their students have saved approximately $2 million (almost £1.5 million) through OER adoption. According to Edward Watson, director of their Center for Teaching and Learning their approach has been “to pursue large enrollment courses using expensive textbooks. This has enabled us to maximise savings for students.”
Of course the calculations are much more complicated and should also include time invested by teachers and students to write and edit materials, write off for computers, electricity, etcetera. Other components that cannot be expressed in money, but that are at least as important are not discussed here either, such as perceptions and emotions that students and teachers experience, for example teachers experience a great sense of satisfaction when they contribute to or create OERs.
So, although we acknowledge that the picture is a bit more complicated than discussed in this blog, one thing seems quite obvious. Given the rapidly increasing amount of research at OER material, policy makers, politicians, school boards, schools, and teachers really need to scratch their heads and consider if it’s an ethically and financially responsible choice to buy traditional educational books and materials while there might be alternatives that are cheaper and just as good or even better.
Bliss, TJ., Hilton, J., Wiley, D., & Thanos, K. (2013).: Perceptions of Community College Faculty and Students. First Monday, 18(1).
Fischer, L., Hilton, J., Robinson, J., & Wiley, D. (2015). A multi-institutional study of the impact of open textbook adoption on the learning outcomes of post-secondary students. Journal of Computing in Higher Education, 27(3), 159-172.
Pitt, R. (2015. Mainstreaming open textbooks: Educator perspectives on the impact of OpenStax college open textbooks. International Review of Research in Open and Distributed Learning, 16(4), np.
Robinson, J., Fischer, L., Wiley, D., & Hilton, J. (2014). The Impact of Open Textbooks on Secondary Science Learning Outcomes. Educational Researcher,43, 341-351.
 One of the authors started his career working for a large educational publisher after getting his master in the topic ‘text characteristics and learning processes’. He began idealistic as he was thinking that he would help ensure that quality was their advertisement. He left less than four years later, disillusioned but wiser, after realising that their slogan was more like “Adverstising is our quality”.
 This is known as CC Attribution-NonCommercial (CC BY-NC): This license lets others remix, tweak, and build upon your work non-commercially, and although their new works must also acknowledge you and be non-commercial, they don’t have to license their derivative works on the same terms.
Idiom: you get what you pay for
- the price of something usually equals its quality (especially cheap things are often of low quality).
— It’s true you get what you pay for—this $239 laptop is unbelievably slow.
— How can you expect 5-star quality when you choose to stay at budget motel? You get what you pay for.
— Ugh, My umbrella broke the first time I used it. I got what I paid for buying the cheapest one I saw.
— You get what you pay for so that’s why I invest in expensive shoes, suits and silk ties.
— The next time you buy a car remember that you get what you pay for.
— I know you get what you pay for but I’m not going to waste a lot of money on t-shirts.
— This is our cheapest smartphone but as you know, you get what you pay for.
— I know you get what you pay for but my daughter’s only 15 and frequently loses jewelry.
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- Idiom: You get what you pay for