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Given the Nature and Demands of Technology Cycles and Innovation

question 64

Essay

Given the nature and demands of technology cycles and innovation streams, identify the two types of change that companies need to be able to manage. What are the approaches most appropriate for managing each type of change?


Definitions:

Pay-for-Knowledge

A compensation strategy where employees are paid based on the skills, knowledge, and abilities they bring to their job, encouraging skill development and continuous learning.

Cafeteria Compensation

A flexible employee benefits plan allowing employees to choose from a variety of pre-tax benefits, akin to selecting from a cafeteria menu.

Piece Rate

A wage calculation method where an employee is paid a fixed rate for each unit produced or action performed.

Compensation

Refers to the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.

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