Mary Offered to Sell Mike Several Pieces of Rare Chinese

question 38

Essay

Mary offered to sell Mike several pieces of rare Chinese art at a very good price because they were duplicates in her own collection. Mike could not accept the offer at that time, but he did give Mary $500 in return for her promise to keep her offer open for three (3) weeks. Mike returned with the agreed-upon balance two weeks later to find that Mary already had sold the pieces she had offered to sell to him. Mary explained that she had been able to get a better price from another buyer. She offered to return Mike's $500 and insisted that this was all she was obligated to do. Is Mary right?

Recognize the ethical considerations and potential consequences of using Organizational Behavior Modification (OB Mod) strategies.

Assess the implications of incentive compensation, such as bonuses and profit-sharing, on employee motivation.

Evaluate the role of punishment and negative reinforcement in modifying behavior.

Grasp the significance of immediate and contingent reinforcement for sustaining desirable behavior.

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Definitions:

Hawthorne Studies

A series of experiments conducted in the 1920s and 1930s that concluded that workers were more productive when they believed they were being observed.

Social Needs

Fundamental human requirements for belonging, affection, acceptance, and friendship, often motivating behavior in social and work environments.

Physiological Needs

Basic human requirements for survival, such as food, water, shelter, and sleep, considered the foundation of Maslow's hierarchy of needs.

Self-actualisation Needs

The highest level in Maslow's hierarchy of needs, representing the pursuit of realizing one's full potential and personal growth.