Why Was Frederick Taylor's Principle of the Piecerate System Beneficial

question 54

Multiple Choice

Why was Frederick Taylor's principle of the piecerate system beneficial to workers and managers?

• A) The piece-rate system increased the number of motions necessary to accomplish tasks.
• B) The piece-rate system incentivized workers to accomplish more, as well as earn more money for themselves.
• C) The piece-rate system exemplified the Hawthorne effect.
• D) The piece-rate system highlighted the contingency perspective.
• E) The piece-rate system paid workers equally, despite differences in productivity.

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Definitions:

Immunization

A strategy in bond portfolio management aimed at minimizing the impact of interest rate changes on the portfolio's value while ensuring that the portfolio meets future cash flow needs.

Asset Portfolio

A collection of various types of investments held by an individual or institution.

Liabilities

Financial obligations or debts owed by a company or individual to creditors, typically categorized as current or long-term.

Rebalancing

The process of realigning the proportions of assets in a portfolio to maintain the original or desired level of asset allocation and risk.