Businesses Have Social Responsibility to Several Constituencies: the Environment,their Employees,their

question 55

True/False

Businesses have social responsibility to several constituencies: the environment,their employees,their shareholders,the community,and their customers.

Understand the concept and purpose of incentive pay and how it influences employee behavior.

Identify different types of incentive pay plans such as differential piece rate, standard hour plans, merit pay, and gainsharing.

Recognize the characteristics of well-designed pay plans and how they align with organizational goals.

Understand the importance of fairness and attainability in incentive pay plans.

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Definitions:

Happiness

Happiness is a state of well-being characterized by emotions ranging from contentment to intense joy.

Congruent

Being in harmony or agreement; when things align or match in a consistent way.

Psychology Career

A professional path that involves studying mental functions and behaviors, and often includes roles such as research, counseling, and clinical practice.

Thorndike

An American psychologist who developed the law of effect, which states that behaviors followed by pleasing consequences tend to be repeated, while those followed by unpleasant consequences are less likely to be repeated.