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After Graduating from College, You Are Hired to Work in a Factory

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Essay

After graduating from college, you are hired to work in a factory overseas as an industrial psychologist. The workers put together iPads. The boss wants to know the best pay schedule to get the maximum number of pieces made by his workers. The boss wants you to describe various schedules of payment to him and tell which might be best for the plant. Using the principles of operant conditioning, describe the various pay schedules and what would be the best one for his goal of getting the most production.


Definitions:

KPI Tracker

A KPI tracker is a tool or system used for monitoring and analyzing Key Performance Indicators (KPIs) to assess efficiency, effectiveness, and performance in various business areas.

Opportunity Cost

The cost of an alternative that must be forgone in order to pursue a certain action, essentially what is given up when choosing one option over another.

Key Performance Indicator

A quantifiable metric that shows how successfully a business is meeting its primary goals.

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