A Business Firm's Influence on the Ethical Behaviour of Its

question 19

True/False

A business firm's influence on the ethical behaviour of its employees is very limited because their family and friends influenced their beliefs about right and wrong long before they joined the business firm.

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Definitions:

Market Pricing

The process of determining the value of a job in an organization based on the prevailing market rate for similar positions in the external labor market.

Job Evaluation

The systematic process for assessing the relative worth of jobs within an organization to establish a fair and equitable pay structure.

Pay for Knowledge

A compensation system where employees are paid based on the range and depth of their skills and knowledge, rather than strictly on their job position or seniority.

Performance Pay

Compensation model where employees are rewarded based on their job performance, including quality and efficiency, often used as an incentive to enhance productivity.