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In the strategic flexibility approach, what does a compensation packages consist of?
Pareto Analysis
A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It is based on the principle that 80% of effects come from 20% of causes.
DMAIC
An acronym for Define, Measure, Analyze, Improve, and Control; a data-driven quality strategy used for improving, optimizing, and stabilizing business processes and designs.
Benchmarks
Standard points of reference by which something can be measured or judged, often used for comparison to assess performance or quality.
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