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Explain the difference between internal alignment and external competitiveness. Why do organizations need both when designing their compensation system?
Catchall Category
A broad classification used to group items or concepts that do not fit neatly into other categories.
Instruments
Formal legal or financial documents that represent some monetary value or agreement, including notes, bonds, contracts, and deeds.
Commodity Contracts
Legal agreements to buy or sell a particular commodity at a predetermined price at a specified time in the future.
Certificates of Deposit
Financial instruments offered by banks that provide an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time.
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