As Discussed in the Book, the Rationale for Removing the Secrecy

question 76

Multiple Choice

As discussed in the book, the rationale for removing the secrecy surrounding salaries is that

• A)we should be honest with employees, and this is a good place to start.
• B)they know salaries anyway, via the grapevine, but secrecy reduces confidence in the company.
• C)positive motivational consequences may occur if the pay system is well designed.
• D)consumers should understand that labour costs contribute greatly to retail prices.
• E)a more open pay policy will expose the inadequacy of the merit system.

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Definitions:

Organizational Buyers

These are entities such as businesses, governments, and institutions that purchase goods and services for use in their own operations, for resale, or for manufacturing other products.

Electronic Exchange

A digital marketplace where buyers and sellers trade goods, services, or securities via electronic systems.

Specialty Electronics Stores

Retail outlets focused on selling specific or high-end electronic goods and gadgets to a niche market.

Indirect Marketing Channel

A pathway for selling products or services that involves intermediaries or middlemen between the producer and the consumer.