Comment on the Following Statement: the Expected Outcome of a Properly

question 35

Essay

Comment on the following statement: The expected outcome of a properly administered performance-based pay system is that it will help the organization achieve its strategic objectives by attracting, retaining, motivating and rewarding employees.

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Definitions:

Lean Production

An organized approach to reducing waste in a manufacturing system while maintaining production levels.

Value Chain Analysis

Value Chain Analysis is a process of examining the development of competitive advantage, focusing on the chain of activities involved in designing, producing, marketing, delivering, and supporting a product or service.

Effective

Achieving the desired outcome or result with optimal use of resources and time.

Manageable

Capable of being controlled, handled, or dealt with effectively.