To Expand Your Scope as an HR Practitoner,you Recently Transferred

question 29

Multiple Choice

To expand your scope as an HR practitoner,you recently transferred from a smaller manufacturing firm to a larger one and discovered that,although entirely different,both compensation systems are effective.How is this possible?

• A) Both companies have well-trained managers.
• B) Both companies do similar work and hire the same kinds of employees.
• C) Both systems fit the organization and its strategy.
• D) Both take a universal approach using the best practices of Canada's top employers.

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Definitions:

Wage Rate

The amount of compensation a worker receives per unit of time or per unit of output.

MRP

Material Requirements Planning is a system for planning production schedules and inventory needs.

Marginal Revenue Product

The additional income generated from using one more unit of a resource, used in economics to determine the optimal level of resource employment.

Profit-maximizing

A business strategy aimed at achieving the highest possible profit through adjusting production levels, pricing, or other operational methods.