Three Major Types of Information Technology Are Used by Executives,managers,and

question 30

True/False

Three major types of information technology are used by executives,managers,and workers inside the company to access and share information. They are executive information systems,intranets,and portals.

Recognize the advantages of profit sharing in increasing organizational productivity.

Understand the drawbacks of various forms of incentive pay, including stock ownership.

Distinguish between individual and team-based incentive systems.

Examine incentive plans that encourage employees to adopt an ownership mentality.

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Definitions:

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.

Higher Prices

An increase in the cost that consumers must pay to purchase goods or services.

Income Redistribution

The transfer of income from certain individuals or groups to others through mechanisms like taxes, welfare programs, and subsidies, aimed at reducing economic inequality.

Economic Profit

The gap between a company's overall earnings and all its expenses, comprising both direct and indirect costs.