In Managing Subordinates Under an Incentive Pay Plan, a Manager

question 31

Multiple Choice

In managing subordinates under an incentive pay plan, a manager should

• A)regularly communicate with subordinates about the plan.
• B)set goals with subordinates, but then leave them alone to pursue those goals.
• C)change the plan frequently to continue to motivate subordinates.
• D)set "stretch" goals that are very difficult (perhaps impossible) to achieve.
• E)design complex plans that cover all contingencies.

Understand the concept and legal principles of consideration in contract law.

Differentiate between legal sufficiency of consideration and adequacy of consideration.

Identify the requirements for a valid modification of contracts under both common law and the Uniform Commercial Code (UCC).

Analyze the enforceability of agreements based on past consideration or moral obligations.

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Definitions:

Personality Psychologist

A professional who studies patterns of thoughts, feelings, and behavior that make an individual unique, and how these patterns develop and influence one's life.

Measure of Depression

Tools or instruments used to assess the severity or presence of depressive symptoms in individuals.

Objective Test

A form of assessment with questions that have a single correct answer, designed to measure an individual's knowledge or ability without subjective judgment.

Factor Analytic

Pertaining to a statistical method that is used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.