Companies Place a Considerable Amount of Attention on Compensation Plans

question 12

Multiple Choice

Companies place a considerable amount of attention on compensation plans because

• A) firms are likely to face stiff penalties from the government if they do not offer competitive wages and salaries.
• B) attracting the right employees with good compensation packages can translate into a competitive advantage.
• C) it is a hygiene factor.
• D) a good compensation plan will be less costly than other parts of the operation.

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Definitions:

Focused Factories

Manufacturing facilities designed with a narrow production focus, dedicated to producing a limited range of products or components, to enhance efficiency and quality.

Cross-docking

A logistics practice where incoming cargo is unloaded from a vehicle, sorted, and directly loaded onto outbound vehicles, minimizing storage time.

Cycle Time

The total time from the beginning to the end of a process, providing a measure of the efficiency of production.