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Define the following terms: linear perspective
Skill-Based Pay System
A compensation strategy where employees' pay rates are determined by their skills, knowledge, and certifications rather than their job titles or positions.
Job Descriptions
Job descriptions provide a formal account of an employee’s responsibilities, duties, and the scope of work, including criteria for evaluating performance.
Customizing Production
The process of modifying and adapting the manufacturing process to meet specific customer requirements or preferences.
Executive Pay
Compensation awarded to top-level management and executives, including salaries, bonuses, stock options, and other financial rewards.
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