Gina's Company Recently Instituted an Improshare Plan in Order to Improve

question 16

Multiple Choice

Gina's company recently instituted an Improshare plan in order to improve the timeliness of production and decrease the cost per unit of product. The organization explained to each employee that they had to now inspect and assemble 25 parts in one hour rather than just 20 parts. Gina felt this was a reasonable goal knowing that there were days where she had been able to work ahead and produce more than expected. However Gina's manager did not explain how the time savings would be translated into a dollar amount of a bonus for each employee. Therefore employees in Gina's work area were not producing at the required level, as they did not understand the impact on their wages. This is an example of not meeting which criteria of an effective incentive plan?

• A) Be attainable.
• B) Have clear standards.
• C) Be easy to understand.
• D) Link to the company's objective.
• E) Provide meaningful incentives.

Demonstrate knowledge of input operations using Scanner objects.

Understand the characteristics and rules of identifiers in Java.

Understand operator precedence and evaluation order in expressions.

Understand the representation and significance of data types and their specific literals in Java.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.

Marginal Cost

The financial outlay required to produce a further unit of a product or service.

Pollution Abatement

Actions taken to reduce, control, or eliminate pollution from sources in order to protect the environment.

Marginal Utility

The supplementary utility or enjoyment obtained by consuming an additional unit of a good or service.