How Do Personnel in Sales-Oriented Firms Differ from Personnel in Market-Oriented

question 81

Multiple Choice

How do personnel in sales-oriented firms differ from personnel in market-oriented firms?

• A)Personnel in sales-oriented firms tend to be inward looking.
• B)Personnel in sales-oriented firms focus on making what the market wants.
• C)Personnel in sales-oriented firms enhance individuals' and society's long-term best interests.
• D)Personnel in sales-oriented firms determine the needs of both the final buyer and intermediaries.

Recognize the effects of organizational strategies and policies on compensation.

Understand the concepts of pay grades, pay ranges, and the significance of market positioning (lead, match, lag).

Identify various legislative attempts to address compensation disparities.

Comprehend the role of skill-based pay systems and their impact on employee compensation.

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Definitions:

Economies Of Scale

A situation where the cost per unit of output decreases as the scale of production increases.

Income Inequality

The unequal distribution of income among individuals or households in an economy, leading to various social and economic issues.

Market Power

The ability of a company or group of companies to control prices or exclude competition within a market or industry.

Resource Markets

Markets where resources (like labor, capital, and raw materials) that are used to produce goods and services are bought and sold.