What Are Work Teams? Briefly Comment on Why Work Teams

question 79

Essay

What are work teams? Briefly comment on why work teams have become increasingly popular in business since the mid- to late-1980s.

---

Definitions:

Pension Funds

Investment pools that collect and manage funds contributed by employers and employees for future retirement benefits, investing in various assets for long-term growth.

Tax Deductible

Expenses that can be subtracted from gross income to reduce taxable income, effectively lowering the overall tax liability.

Ordinary Income

Income earned from basic sources such as wages, salaries, commissions, and interest, subject to standard tax rates.

Defined Contribution Plan

A type of retirement plan where the amount contributed is specified, but the future benefit amount is not guaranteed, depending on investment returns.