The Purpose of Job-Based and Person-Based Procedures Is To

question 5

Multiple Choice

The purpose of job-based and person-based procedures is to:

• A)to match pay levels in competing markets
• B)design and manage an internal pay structure that helps achieve the organization's objectives
• C)understand the level of competition with other organizations
• D)to exceed the pay levels in competing markets
• E)use outside consultants for internal decisions

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Definitions:

Competitive Advantage

The conditions that allow a company or country to produce goods or services more effectively than competitors, leading to greater profits and market share.

JIT

Just-in-Time is a management strategy that aligns raw-material orders from suppliers directly with production schedules, aiming to reduce inventory costs.

Setup Costs

Setup Costs are the expenses incurred to prepare equipment, machinery, or systems for a manufacturing process or a batch of production.

Inventory

Represents the goods and materials that a business holds for the ultimate goal of resale, production, or utilization in manufacturing.