The Traditional View of Managers Toward Employee Rewards Was That

question 32

Multiple Choice

The traditional view of managers toward employee rewards was that:

• A) they were fully capable of deciding just what rewards the workers need and want.
• B) workers alone could assess the accurate value of the rewards.
• C) rewards do not necessarily have to be costly to be valued by employees.
• D) they should offer a mix of rewards based on employees' preferences and needs.

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Definitions:

Production Workers

Employees involved directly in the manufacturing process, contributing to the creation of goods.

Implicit Costs

Refer to the opportunity costs of using resources owned by the business for its operations, without any explicit financial payment.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, measuring the financial success of a business beyond normal profit margins.

Explicit Costs

Refers to direct monetary expenses businesses incur in their operations, such as wages, rent, and materials.