Explain the Difference Between Profit Sharing and Gain Sharing

question 88

Essay

Explain the difference between profit sharing and gain sharing.

---

Definitions:

Process Structures

The design and organization of processes within a company, determining how activities are coordinated and executed.

Product Area

A distinct category or segment of a business's overall market, focused on a specific type of product or service offering.

Divisional Structure

A type of organizational structure where operations are grouped based on distinct divisions or units, each focusing on a particular product line, market sector, or geographical area.

Coordination

The organized arrangement of group efforts and resources to achieve specific goals efficiently.