An Entrepreneurial Successor Is Someone Who Is Interested in Efficiency

question 5

True/False

An entrepreneurial successor is someone who is interested in efficiency and the effective use of resources.

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Definitions:

Flexible Work Hour Plans

Are plans in which employees usually must still work 40 hours per week and typically 5 days a week but in which they have control over the starting and ending times for work on each day.

Piece-rate Incentive Plan

A compensation system where employees are paid based on the amount of output they produce.

Merit-pay Plan

A compensation strategy that determines an employee's pay based on their performance, rewarding higher achievers with greater pay increases.

Behavior-modification Plan

A strategy used to alter an individual's behaviors through reinforcements and punishments.