Management Preferences with Respect to Strategy Serve to

question 30

Multiple Choice

Management preferences with respect to strategy serve to

• A) simplify the decision making process
• B) bridge the gap between the internal and external environment
• C) promote flexibility
• D) motivate the efforts of the firm

Understand the concept of performance-based pay and its impact on organizational and employee performance.

Analyze the factors influencing the effectiveness of performance-based compensation systems.

Identify the types of performance-based pay plans and their suitability for different organizational contexts.

Assess the role of fairness and discrimination in performance-based pay systems.

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Definitions:

Fair Labor Standards Act

U.S. law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments.

Child Labor

Employment of children in any work that deprives them of their childhood, interferes with their ability to attend regular school, and that is mentally, physically, socially or morally harmful.

Agricultural Employment

Employment in the cultivation and production of crops, raising of livestock, and other activities related to farming.

Minority Applicants

Individuals seeking employment or entrance to educational programs who are part of a racial, ethnic, or possibly a demographic minority within the relevant population.