More Complex Gain Sharing Plans Create Needs For

question 40

Multiple Choice

More complex gain sharing plans create needs for:

• A) higher levels of trust among participants and more effective communication.
• B) greater variety of incentives and more effective communication.
• C) revisions in the management worker split and revisions to the scope of the formula.
• D) more effective communication and greater variety of incentives.

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Definitions:

Harvesting Strategy

A business plan for obtaining the maximum possible benefit from a product, division, or market before it declines.

80-20 Rule

A principle that asserts that 80% of effects come from 20% of causes, often used in business to highlight the importance of focusing on key contributors to revenue or problems.

Market-product Grid

A matrix used to analyze and display the relationship between different markets and the products a company offers.

Statistical Data

Quantitative information collected and analyzed for the purpose of identifying patterns, trends, or insights.