Pirate Captains Had to Make Sure Their Crew Would Storm

question 217

Multiple Choice

Pirate captains had to make sure their crew would storm the enemy vessel en masse to ensure victory. Individual crew members, however, would want to hold back and let their fellow crew mates fight. To solve help solve this problem, captains would offer bonus pay to the first member of the crew aboard the ship. What kind of incentive structure is this?

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

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Definitions:

Financial Planning

The process of estimating the capital required and determining its competition, aiming to manage financial activities effectively for a person or organization.

Financial Plan

A comprehensive evaluation of an individual's current and future financial state by using current known variables to predict future income, asset values, and withdrawal plans.

Financial Plans

Strategic documents that outline an individual's or organization's current financial situation, goals, and strategies to achieve those goals.

Financial Planning

The process of creating strategies for managing finance, including budgeting, saving, investing, and planning for future financial needs.