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Ethical considerations that effect compensation decisions

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This solution explores the ethical issues and considerations that have the potential to influence an organization's compensation decisions. This solution further investigates the ethical dilemmas a company faces when developing a compensation strategy.

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https://brainmass.com/business/compensation-strategies/ethical-considerations-that-effect-compensation-decisions-191397

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The compensation plan that an organization decides to implement has the potential to determine whether the organization realizes success or failure. At first glance one may believe that a compensation plan is simply a method by which employees are paid and wages determined. However, the intrinsic importance of a compensation plan is much more significant.

A compensation plan can be utilized to motivate employees, limit turnover, and enhance recruiting efforts. For this reason the ethics behind the implementation of a compensation plan are particularly important. From an ethical standpoint, employees want to work in an environment in which they are trusted, respected, treated with dignity, and have the opportunity to excel and be compensated accordingly (Bloom, 2004). For this reason, compensation plans must be ...

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This solution explores the ethical issues and considerations that have the potential to influence an organization's compensation decisions. This solution further investigates the ethical dilemmas a company faces when developing a compensation strategy.

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Literature Review

This assignment is the continuation of the Unit 1 IP (Part 2) assignment and it has two parts for the Unit 2 IP assignment:
Part 1
For this assignment, use the same hypothesis and the Literature Review from your IP1 (Part 2) assignment and compose a 2-3 page theoretical framework (Step 4 of the Sekaran process). Use the components of a theoretical framework described in the Sekaran textbook as well as the examples contained in the textbook and in published research. Additionally, use sources available on the web, the library, and from the textbook to support your arguments. Remember to include these sources in the references section of your paper.
Part 2
Using figure 6.2 of Sekaran as a guideline, write a 3-5 page Scientific Research Design (Step 6) appropriate for the hypothesis and the Literature Review from the IP1 and the theoretical framework you have prepared for Part 1 of this IP2. Include the type of investigation needed, the study setting, the unit of analysis, and your recommended time horizon for the study. Also offer your assessment on the extent of "researcher interference" (pp. 127-129) and any ethical considerations that may arise from the research design you are proposing.
Your assignment should consist of an abstract, a short introduction, and conclusion in addition to the body of the paper (Part 1 and Part 2). Using the Library, the Internet, and your course materials write a 5-8 page document using MS Word 2007.
Please note: this assignment will be a building block for the Unit 4 IP assignment.
Your report MUST include a reference list in correct APA format. Please note that all the sources used in your theoretical framework (Part 1) and scientific research design (Part 2) need to be listed in your references section. All research should be cited in the body of the paper. Reports without citations may not earn any higher grade than a 'C' letter grade.
NOTE: Scholarly article collections may be accessed in the Library. Suggestions are:
Ã?¢?Ã?¢ ABI Inform Global
Ã?¢?Ã?¢ Academic Search Premier
Ã?¢?Ã?¢ Business Source Premier
Please submit your assignment as an MS Word document in APA Style 6th edition format.
Objective: The Objective of the Unit 2 IP Assignment will involve the following the Course Outcomes and Grading Criteria with their respective percentages for the Grading Rubric:
Ã?¢?Ã?¢ Apply the standard of APA Style to all research and writing tasks. (10%)
Ã?¢?Ã?¢ Apply principles of quantitative and qualitative research to business cases. (60%)
Ã?¢?Ã?¢ Apply critical thinking skills to analyze business situations. (20%)
Ã?¢?Ã?¢ Use effective communication techniques. (10%)
MGT600 Unit 2 DB 4-6 paragraphs
Think about the business decision you discussed in Unit 1's Discussion Board. Your supervisor had asked that you expand on your self-evaluation by identifying at least two judgment issues that you had to address. Write a memo to your supervisor describing these issues. Explain how you addressed them and the degree to which your decision was based on expedience and/or reflection. Potential issues include: bias, or ethical issues related to the availability heuristic, bias related to the representative heuristic, bias related to anchoring and adjustment, avoiding uncertainty, framing effects, positive illusions, egocentrism, and regret avoidance.
Use the Library or other Web resources to support your argument. Be sure to cite your sources using APA Style 6th edition guidelines.
Your work MUST include a reference list. All research should be cited in the body of the paper. Reports without citations may not earn any higher grade than a 'C' letter grade. Your report should contain a short introduction and conclusion in addition to the body of the paper. Please note that if you have a source in your reference section, you need to cite it in the body of the paper per APA guidelines and vice-versa.
Objective: The Objective of the Unit 2 DB Assignment will involve the following the Course Outcomes and Grading Criteria with their respective percentages for the Grading Rubric:
Ã?¢?Ã?¢ Summarize the role of decision making in business. (10%)
Ã?¢?Ã?¢ Explain the roles of emotion and fairness in decision making. (10%)
Ã?¢?Ã?¢ Use effective communication techniques. (10%)
Ã?¢?Ã?¢ Compare reflective and expedient decision making. (10%)
Ã?¢?Ã?¢ Discuss common biases in decision making. (20%)
Ã?¢?Ã?¢ Apply the standard of APA Style to all research and writing tasks. (10%)
Ã?¢?Ã?¢ Apply critical thinking skills to analyze business situations. (10%)
Ã?¢?Ã?¢ The remaining 20% of the grading will be based on your in-depth interactions with your colleagues.

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