Flora Built Her Business from Two Employees to Over 2,000

question 72

Multiple Choice

Flora built her business from two employees to over 2,000 during her 30 years in business.She was able to endow a scholarship fund to the community college and to leave her children a perpetual income.We call this her:

• A)corporate responsibility.
• B)social mission.
• C)good citizenship.
• D)entrepreneurial legacy.

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Definitions:

Forced Ranking System

A controversial performance management system where employees are ranked against each other in categories, often leading to a certain percentage being identified as top performers, while others are deemed low performers.

Merit Pay

A compensation system where employees receive pay increases based on their performance, rewarding those who exceed expectations.

Peer Appraiser

An employee designated to assess and review the performance of their colleagues as part of a company's evaluation system.

Management by Objectives

A strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed upon by both management and employees.