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MGT501 Assignment No 02 Fall 2020 Solution / Discussion Due Date: 03-02-2021

Marks: 10                                                                      Due Date: February 3, 2020

After job evaluation and job pricing, prevailing wages, cost of living, bargaining power, productivity, ability
to pay, equity are some of the factors which employers mostly consider while determining the pay. In
your opinion, which are the most important factors to be considered while determining the pay for the
following jobs and why? (Identify and explain a minimum of two factors for each job)
Scenario 1: (Marks 5) Word limit 100 words
Job Title: Chief Information Officer
A commercial bank requires the services of a chief information officer. He/She will be responsible
for ensuring the security and governance of information assets at the bank. Responsibilities
include availability, integrity and confidentiality of data in addition to preserving customer
privacy.

Scenario 2: (Marks 5) Word limit 100 words
Job Title: Anesthesiologist
The Anesthesiologist is required in a well-reputed private hospital He/She will be responsible for
pain management during pre and post medical procedures and related activities. Job schedule is
expected to be highly irregular as per the need.
You are required to identify the most significant factors which their respective employers
should consider while determining the pay. Explain those pivotal factors with logical
arguments in the context of each job.
Do not include irrelevant information and do not Copy from various student blogs.
IMPORTANT INSTRUCTIONS:
DEADLINE:
 Make sure to upload the solution file before the due date on VULMS
 Any submission made via email after the due date will not be accepted.

FORMATTING GUIDELINES:
 Use the font style “Times New Roman” or “Arial” and font size “12”.
 It is advised to compose your document in MS-Word format.
 Use black and blue font colors only.
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
 Word limit is not followed
 It is submitted after the due date.
 The file you uploaded does not open or is corrupt.
 It is in any format other than MS-Word or Open Office; e.g. Excel,
 PowerPoint, PDF etc.
 It is cheated or copied from other students, internet, books, journals etc.

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MGT501_2_Solution-fall-2020

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MGT501_2_Solution-fall-2020.docx

MGT501 Assignment 2 Solution Fall 2020:

 

 

Scenario 1

Solution

  1. Prevailing Wages
  2. Productivity

 

  1. Prevailing Wages

The prevailing wage rate is defined as the average wage paid to similarly employed workers in a specific occupation in the area of intended employment.

  1. Productivity

Productivity is the amount of goods and services that a group f worker produces in a given amount of time.

 

Scenario 2

Solution

  1. Productivity
  2. Bargaining Power
  3. Ability To Pay

 

  1. Productivity

Productivity is the amount of goods and services that a group f worker produces in a given amount of time.

  1. Bargaining Power

The ability for employers or workers to get what they want.

  1. Ability To Pay

An organization's Employer's ability to pay to determine pay levels. Financially successful firms tend to provide higher-than-average compensation. However, an organization's financial strength establishes only the upper limit of what it will pay.

 

MGT501 assignment solution 2 fall 2021

#mgt501 #mgt501assignment2 #mgt501assignmentsolution2fall2021
MGT501 Assignment 2 Solution Fall 2020 - 2021 ||Human Resource Management||

mgt501 assignment 2 solution 2021

Scenario 1

Solution

  1. Prevailing Wages
  2. Productivity

 

  1. Prevailing Wages

I am going to define  prevailing wage rate which is average wagepaid tocorrespondingly employed workers whichworking in a specific occupation  in the area of planned employment.

 

  1. Productivity

Productivity caNbedefined as the amountofgoods& services that a group of workers in a companyOrorganization  produces in a givenamount of time.

 

 

mgt501 assignment 2 solution 2021

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