This article delves into the concept of self-managed work teams and investigates the efficiency-rationale for implementing pay compression within such teams. By examining existing research and theoretical frameworks, this study aims to shed light on the relationship between self-managed work teams, pay compression, and organizational efficiency. The findings highlight the potential benefits of pay compression in promoting teamwork, collaboration, and overall productivity within self-managed work teams. Self-managed work teams have gained attention as a means to enhance employee empowerment and organizational performance. In these teams, employees are responsible for decision-making, task allocation, and problem-solving, resulting in greater autonomy and collaboration. This article explores the efficiency-rationale for implementing pay compression within self-managed work teams. Pay compression, the reduction of wage differentials within teams, is proposed as a strategy to align compensation with the team-based approach and promote team cohesion. Drawing on existing literature and theoretical frameworks, this study examines the potential benefits of pay compression in improving team performance, cooperation, and overall organizational efficiency. The findings contribute to the understanding of how pay compression can be utilized as an effective tool to optimize team dynamics and drive productivity in self-managed work environments.

The impact of management research has traditionally been measured in terms of its academic contributions, such as publishing in top-tier journals and citations. However, this narrow focus has been criticized for not adequately addressing the broader societal impact of research. This paper aims to broaden the meaning of impact in management research and discuss the importance of impact beyond academia. Based on a literature review, the paper suggests that impact should also be measured in terms of its societal and practical applications, including its ability to promote diversity, equity, and inclusion. The paper concludes that a broader perspective of impact is essential to address real-world problems and improve people's lives.

Central banking policies have a significant impact on financial market performance in emerging economies. This study aims to assess the impact of central banking policies on financial market performance in India. We analyze the key policies implemented by the Reserve Bank of India (RBI) and their impact on the stock market and foreign exchange market. We use a regression analysis to examine the relationship between central banking policies and financial market performance. Our results indicate that central banking policies have a significant impact on financial market performance in India. The study concludes that the RBI's policies have contributed positively to the financial market performance in India.