________ Refers to Tying Rewards to Profits or Cost Savings

question 21

Multiple Choice

________ refers to tying rewards to profits or cost savings achieved by meeting specific goals.

• A) Gain sharing
• B) Employee benefits
• C) Wellness program
• D) Sliding-scale plan
• E) Cafeteria plan

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Definitions:

Porter

Michael Porter, a renowned economist known for his theories on economics, business strategy, and competitive advantage.

Industry

The sector of an economy that is concerned with production and manufacturing of goods, or provision of services.

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.

Competitors

Other businesses or individuals that offer similar products or services within the same market, competing for the same set of customers.