Examlex
In order to motivate a workforce effectively, both profit and vision are needed.
Firms
Business organizations or entities engaged in commercial, industrial, or professional activities, aiming to generate profits through the provision of goods or services.
Workers
Individuals engaged in any form of economic activity to earn wages or salary.
Market Wage
The prevailing rate of pay for work in a particular field or occupation in the competitive market.
Profit Maximizing
The process of increasing the difference between total revenue and total cost to achieve the highest possible profit.
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