Information for Decision-Making

question 1

Multiple Choice

Information for decision-making:

• A) Is only produced inside an organization.
• B) Includes estimates and predictions
• C) Ensures certainty in the decision-making process
• D) Is easy to identify

---

Definitions:

Merit Pay

A pay system where employees are compensated based on their performance, as determined through evaluations, with the aim of rewarding high performance.

Individual Performance

The measure of the level to which an employee accomplishes work tasks effectively and efficiently, contributing to the organization's objectives.

Differential Piecework Rate

A compensation system where employees are paid based on the amount of work they produce, but the rate of pay increases after a certain quantity of work is completed.

Average Production Volume

The typical quantity of goods produced over a specific time period, calculated to understand production efficiency and set benchmarks.