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What Are the Essential Elements of a Contract? List and Discuss

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What are the essential elements of a contract? List and discuss them.


Definitions:

Quarterly Bonus

Additional compensation given to employees on a quarterly basis, often linked to performance or organizational profitability.

Sales Targets

Specific, quantifiable objectives set for a sales team or individual sales representatives to achieve within a specific time frame.

Training

An organization's planned efforts to help employees acquire job-related knowledge, skills, abilities, and behaviors, with the goal of applying these on the job.

Learning Organization

An organization that actively encourages, facilitates, and utilizes the learning of its members to continuously transform itself for better performance and innovation.

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