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Consider a work environment where (1) each member is empowered to contribute in a way that maximizes the benefits to the organization,customers,and self,and (2) the individuality of each member is respected by not segmenting or polarizing people on the basis of their membership in a particular group. What is the term to describe this work environment?
Labor
Human effort, both physical and mental, used in the production of goods and services.
Efficiency Wage
A higher-than-market wage that a firm pays to increase worker productivity.
Marginal Productivity
The additional output that can be produced by adding one more unit of a specific input, holding all other inputs constant.
Incentive
Something that induces a person to act
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