Which of the following is not true regarding profit sharing plans?

The plan is established and maintained by the individual employee.

Profit sharing plans provide a definite predetermined formula for allocating the contributions made to the plan among the participants and for distributing the funds accumulated under the plan.

Profit sharing plans cannot discriminate in favor of officers and shareholders.

The plan allows employees to derive benefit from profits of the company.

Which type of entity is not eligible to establish a 401(k) plan?

All of the above are eligible to establish a 401(k) plan

Limited Liability Companies (LLCs)

Which of the following is an advantage for employees to have a 401(k)?

Employer matching contributions

Access to funds before retirement age

Which of the following is a benefit of offering a 401(k) plan to employees?

Reduced taxes on employer contributions

What are the three sources of contribution to the US government thrift savings plan?

Agency automatic contributions, employee contributions, and matching contributions

Traditional contributions, Roth contributions, and catch-up contributions

Pre-tax contributions, after-tax contributions, and tax-free contributions

Direct deposit contributions, check contributions, and online contributions

Which of the following is a potential advantage of a profit-sharing plan over a pension plan?

The plan is less expensive to administer and maintain.

The employer has more control over the plan's investments and payouts.

The plan provides guaranteed income in retirement, regardless of the company's profitability.

The plan is more appealing to younger employees who may not stay with the company for a long time.

Which of the following is a common eligibility requirement for participating in a 401(k) plan?

Having a certain level of education

Profit-Sharing Plans

Chapter 7 - Review Data and Decision Making *Glow bus due at midnight, name and student number: answer questions using content in class People have created wonderful things for centuries, and management Management can be traced as far back as 500 bc when the ancient Sumerians used written records to improve government and business activities Why is it important to lean from the past Not to repeat our mistakes Classical management approaches Scientific management Administrative Principles Bureaucratic organisation Behavioural Management Approaches Follett’s Organizations as communities The Hawthorne studies Maslow’s theory of human needs Mcgregor’s Theory x and Theory Y Argyris Personality and organisation Modern Management foundations Organises as systems Contingency thinking Quality management Quantitative and analysis and tools Evidence-based management Contributions Frederick Taylor - Father of Scientific management He noticed that workers often did their jobs with wasted motions and without a constant approach. His resulted in inefficiency and low performance He believed the problem could be fixed if workers were taught to do their jobs in the best ways and ten were helped and guided by supervisors Four guiding principles of scientific management Rules of motion, standardized work and proper working conditions Select workers with the right abilities Train workers and give them incentives Support workers by planning and smoothing the way as they do their work Frank and Lillian Gilbreth Pioneered use of motitono studies as a management tool In one famous case, the gilbreaths cut down the number of motions used by bricklayers adn tripled their productivity Contributions from scientific management Make results-based compensation a performance incentive Carefully design jobs with efficient work methods Carefully select workers with the ability to perform the job Trian workers to execute activities to the best of their abilities Train supervisors to support workers so they can perform jobs to the best of their abilities Classical Management Adiminstative principle (Henro Fayol) 1919, after a career in French industry, Henri F published “adminisration Industrielle et Generale” (General and industrial management) in which we out like his views on the management of organiztion and workers Rules and duties in management Foresight - to complete a plan of action for the future Organization - To provide and mobilize resources to implement the plan Common- to lead, select and evaluate workers to get the best work toward the plan Coordination- to fit diverse efforts together and ensure information is shared and problems solved Control- to make sure things happen according to plan and to take necessary corrective action Classical management Bureacratic organiztion (Max Weber) Max weber (Bureaucrativ organization) - late 19th century German political economist who had a major impact in the fields of management and sociology Bureaucratic Organization An ideal, intentionally rational adn very efficient form of organization Based on the principles of logic, order and legitimate authority Characteristics of BO Clear division of labour Clear hierarchy of authority Formal rules and procedure Impersonality Careers based on merit What are some disadvantages of bureaucracy Takes a long time for problems to become solved bec there are procedures and there is a chain of people in command Having the power Rules have to follow Excessive paperwork or “red tape” Slowness in handling problems Rigidity in the face of shifting needs Resistance to change Employee apathy Behavioural Management Approaches (focus on understanding the elements that affect human behaviour in organisations) Follett’s Organizations as communites Mary park follett contributed to the transition from classical thinking inot behavioural management Groups and human cooperation Groups allow individuales too combine their talents for a greater good Organizations are cooperating “communites” of managers adn workers Managers job is to help people copperate and achive an integration of goals and intrests Forward-looking managment insight: Making every emploee an owner creates a sense of collective responsibility Prescursor of employrr ownership, profit sharing and gain sharing Buniess problems invovle a varity of inter realted factors Prescursor of systems thinking Private profits realtive to public good Precursor of managerial ethics and social respinsibility Hawthorne studies Took place at western electric chicago plan, a tran led by Harvards Elton Mayo set out to learn how econmic incentives and workplace conditions affected workers output Maing objective Intial study examined how ecomoin incentives adn physical conditions affected worker output (productivity) No consistent relationship found During experientmetn they had 2 groups The expertiant groups (impoved wokring ocnditions ) The control group ( no changes to original working conidtions) No consitant relationship found, perfomance in both groups increased even after removing incentives Social setting and human relations Concluded New “social setting” led workers to do good job Good “Human relations” = higher productivity The contect - The Great Depression (1929-1940) Employee attitudes and groups processes Osme thinsf satisifed some workers but not others People resticited output to adhere to groups norms (Avoid layoffs) Lessons from he hawthrone stufirs Social and human concerns are keys to prductivity Hawthrone effect - People who are singled out for special attention perform as expected Maslow’s Theory of human needs Human needs The work of psychologist Abraham Maslow in the area if human “needs,” also has had a major impact in the behavioual apporach to management Maslow’s hierarchy of human needs Self actualization needs Higherst level: need foe self fulfillment to grow and use abilites to fullest and most creative extent Esteem needs Needs fro esteem in eyes of others need for respect, prestige, recognition; need for self esteem, personal sense of competence, mastery Social needs Need for love, affection, sense of belongingness in ones relationship either other people Safett needs Need for security, protection and stability in teh events of day to day life Physiological needs Most basic of all human needs: need for biological maintence; food, water and phydical well being Principles Defict principle: A satidifed need is not a motivator of behaviour Progress principles: A need becomes a motivator once the preceding lower-level need is satisfied Both principles cease to operate at self actulilzation level McGregor’s Theories Thepry x assumes that workers; Dislike work Lack ambition Are irresponsible Resist change Prefer to be led Theoyry y assumes that workers are Willing to work Willing to accept responsibility Capable of self control Capable of self direction Imaginative and creative According to McGregor, Managers create: Self fulfilling prophecies Implications of Theory x and y Theory x managers: Create situations where workers become dependent, passive and reluctant Theory y managers create situations where workers respond with initiative and high performance Central to notions of empowerment and self management Argyris’s theory of adult personality Classical management principles and practices inhibit worker maturation and are inconsistent with the mature adult personality Management practices should accommodate the mature personality: Increasing task responsibility Increasing task variety Using participative decision making Modern Management Foundation Quantitative analysis and Tools Analytics: the use of large data bases and mathematics to solve problems and make informed decision using systematic analysis Organization as systems System Collection of interrelated parts that function together to achieve a common purpose Subsystem A smaller component of a larger system Open systems Organisations that interact with their environment Contingency thinking Tires to maths managerial responses with problem (situation) No “one best way” to manage The “appropriate way to to manage depends on the situations Quality management Qality anc competitive advantafe are linked Total quality managment (TQM) Comprehensive approach to contiou impovment on teh entire organization ISO certification Gloval quality management standards Refine and upgrade quality to meet ISO requirments Evidednce Based Managment Making management decision on “hard facts” about what really works

Here is the survey with all bold text removed: --- Survey: Feedback on Noones' New Liquidity-Providing Outsourcing Tool We’re excited to introduce a new feature at Noones.com, allowing users to create buy and sell offers without needing upfront capital. By partnering with liquidity providers, users can earn passive income by setting markups on trades that are automatically fulfilled by our providers. Your feedback will help us refine this feature and understand its potential to benefit our users. Thank you for your time and insights! 1. Are you interested in a feature that allows you to create buy/sell offers without holding crypto or capital, by outsourcing fulfillment to liquidity providers? - [ ] Very interested - [ ] Somewhat interested - [ ] Neutral - [ ] Not very interested - [ ] Not interested at all 2. How likely are you to use a feature that lets you set markup rates on trades that are then automatically fulfilled by liquidity providers? - [ ] Very likely - [ ] Likely - [ ] Neutral - [ ] Unlikely - [ ] Very unlikely 3. If available, how often would you consider creating offers using the liquidity provider option? - [ ] Daily - [ ] Weekly - [ ] Monthly - [ ] Occasionally - [ ] Not interested in creating offers 4. How valuable do you find the following aspects of the liquidity-providing feature? - Earning passive income without capital investment - [ ] Very valuable - [ ] Valuable - [ ] Neutral - [ ] Not valuable - Setting custom markups and earning the difference - [ ] Very valuable - [ ] Valuable - [ ] Neutral - [ ] Not valuable - Automated trading with hands-free fulfillment - [ ] Very valuable - [ ] Valuable - [ ] Neutral - [ ] Not valuable 5. Would a feature like this make you more likely to recommend Noones to friends or colleagues? - [ ] Definitely - [ ] Probably - [ ] Not sure - [ ] Probably not - [ ] Definitely not 6. What would be your primary motivation for using this feature? - [ ] Earning passive income - [ ] Low barrier to entry (no capital required) - [ ] Scalability and flexibility in setting markups - [ ] Reliable, hands-free trading - [ ] All of the above 7. Do you have any concerns about this feature? (Select all that apply) - [ ] Security of trades and transactions - [ ] Understanding the markup and fee structure - [ ] Reliability of liquidity provider fulfillment - [ ] Potential profits or earnings - [ ] Other: _____________ 8. How likely are you to use Noones as your primary trading platform if this feature is implemented? - [ ] Very likely - [ ] Likely - [ ] Neutral - [ ] Unlikely - [ ] Very unlikely 9. How confident are you that this feature could increase your trading profits? - [ ] Very confident - [ ] Confident - [ ] Neutral - [ ] Not very confident - [ ] Not confident at all 10. Please share any additional thoughts on how this feature could enhance your experience with Noones, or any improvements you’d like to see. - ______________________________________________________________ Thank you for helping us make Noones better! Your feedback is invaluable in shaping features that support your trading goals and enhance your experience with us.

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