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The likelihood a reward will actually reinforce a specific performance-enhancing behavior depends on the extent to which the reward recipient (1) actually values the specific reward, (2) believes the reward allocation process was handled fairly, and (3) receives the reward in a timely manner. Which statements are correct?
Variable Cost
Costs that change in proportion to the level of activity or volume of production, such as materials and labor.
Fixed Cost
Expenses that do not change in relation to production volume, such as rent, salaries, and insurance premiums.
Theory of Constraints
A methodology that focuses on identifying and managing the most significant limiting factor (constraint) that stands in the way of achieving a goal.
Recognizing Constraints
The process of identifying and acknowledging the limitations or restrictions that impact the efficiency and effectiveness of a system, project, or process.
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