Dr Lisa - Science Of Business

Interview Tom Foster (Management Skills Blog) – Part 5 of 6

by Dr Lisa | theory of constraints Marketing

Q5 Dr Lisa: Could you explain about the “felt fair pay” curve for the time span of discretion that is universal across cultures, currencies and continents? Tom: Felt-Fair-Pay is probably the most controversial, yet scientifically documented finding in the research of...

Interview Tom Foster (Management Skills Blog) – Part 4 of 6

by Dr Lisa | Theory of Constraints Sales

Q4 Dr Lisa: We find that incentives or bonus programs only useful in a small number of cases. Are management incentives or bonus compensations schemes ever appropriate in your opinion? Tom: I hear managers, especially in the sales arena decry that their best...

Interview Tom Foster (Management Skills Blog) – Part 3 of 6

by Dr Lisa | Theory of Constraints Measures

Q3 Dr Lisa: As you know we recommend against most incentive or bonus programs. How does the prevailing belief by Western management that incentives are effective relate to the “best efforts” contract? Tom: Yes, incentives are effective. They are most effective at...

Interview Tom Foster (Management Skills Blog) – Part 2 of 6

by Dr Lisa | Theory of Constraints Measures

Dr Lisa: Tom in your speech you mention the “best efforts” contract that exists between an employer and employee. Could you elaborate on what that is? Tom: There is a widely held notion that to get the best efforts from a person, management must engage in a game of...