Incentive Problems In The Workplace

This presentation was very well put together. I liked how you laid out the presentation and initially showed the different types of incentive problems in a workplace and then gave examples on how they applied. In businesses, the distinction between what a manager is hired for and what an owner’s role is, should be obvious. For the owner, they are hiring a manager to manage their facility, in this case a restaurant. For an owner in this situation, they want someone that will maximize productivity or profit and have particular strengths for the job. In majority of the world, especially in restaurants with two locations, not as many incentives for managers are needed or offered in comparison to a larger business publically traded business. For a manager of a restaurant, incentives are most likely to be pay raises or possibly parking spots or even free meals. When looking at your presentation you went through how managers tend to be more risk-averse and I heavily agree with you. For the example of overinvestment I agree with your example, but instead of saying laying off staff, some consideration may be taken in for a smaller business for each individual staff. Managers will have the ability of laying off staff, but applying it to the restaurant business may have to talk to an owner depending on how invested the employee is in the company. Each example for incentives was related well to the definition you have gotten from the text.
Secondly when you addressed the second location and how it will be affected, the question didn’t necessarily pose that that the manager will have to take on the owner’s responsibility, but your answer that followed was really well done. If the manager were to take on the owner’s role a slight bit, more would be expected from the manager and incentives such as compensation should occur. Although there are only two locations, generally in companies, employees should be paid similarly at different locations to ensure equality. Although the businesses are 700 miles apart from each other and because the owner may have an idea what he would like to differently, things could change. But taking into consideration that they want to run it the

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