Pirate Captains During the 1600s Compensated Crewmembers with a Form

question 88

Multiple Choice

Pirate captains during the 1600s compensated crewmembers with a form of health insurance. If a member lost a hand or leg or other appendage during a fight, he would get a free prosthetic (e.g., a wooden leg, which were quite expensive even then) . What kind of incentive structure does this most closely resemble? (Hint: Those who lost a limb generally did so because they were doing a larger share of the fighting.)

• A) hourly rates
• B) tournaments
• C) piece rates
• D) corporate culture

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Definitions:

Environmental Scanning

The ongoing process of collecting information about external factors that might affect an organization's future plans and operations.

SWOT Analysis

A strategic planning tool that evaluates the strengths, weaknesses, opportunities, and threats related to a project or business venture.

New-product Strategy Development

The process of creating and implementing plans for the introduction of new products, including market research, design, development, and marketing strategies, to achieve business objectives.

Commercialization

The process of bringing a new product or service to market, including production, distribution, marketing, and sales.