Wages, Workers, and Management – End of Chapter ProblemIn 2018, the CEO of General Dynamics (an aerospace and defense company), Phebe Novakovic, received a totalcompensation of about $20.7 million. This was estimated to be approximately 240 times the median General Dynamicsemployee's compensation. In 2018, General Dynamic's market value was approximately $47 billion.Which of the following explains why companies are willing to pay so much money for good managers?O Top level management requires extensive training and education so potential executives require a high salary to make upfor lost earnings gaining that training.CEOS are always paid significantly more because there are so few people willing to work as a chief executive.A good manager can increase the value of a company. Even a small change in the value of a large company can mean asignificant return to individual shareholders.

Managers are those individuals that are required to manage the running of the business by doing:…

Wages, Workers, and Management - End of Chapter Problem In 2018, the CEO of General Dynamics (an aerospace and defense company), Phebe Novakovic, received a total compensation of about $20.7 million. This was estimated to be approximately 240 times the median General Dynamics employee's compensation. In 2018, General Dynamic's market value was approximately $47 billion. Which of the following explains why companies are willing to pay so much money for good managers? Top level management requires extensive training and education so potential executives require a high salary to make up for lost earnings gaining that training. CEOS are always paid significantly more because there are so few people willing to work as a chief executive. A good manager can increase the value of a company. Even a small change in the value of a large company can mean a significant return to individual shareholders.

Wages, Workers, and Management - End of Chapter Problem In 2018, the CEO of General Dynamics (an aerospace and defense company), Phebe Novakovic, received a total compensation of about $20.7 million. This was estimated to be approximately 240 times the median General Dynamics employee's compensation. In 2018, General Dynamic's market value was approximately $47 billion. Which of the following explains why companies are willing to pay so much money for good managers? Top level management requires extensive training and education so potential executives require a high salary to make up for lost earnings gaining that training. CEOS are always paid significantly more because there are so few people willing to work as a chief executive. A good manager can increase the value of a company. Even a small change in the value of a large company can mean a significant return to individual shareholders.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 4SQ

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