The Oldest and Most Commonly Used Type of Incentive Plan

question 50

True/False

The oldest and most commonly used type of incentive plan is the standard hour plan.

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Definitions:

McGregor's Theory Y

A management theory that suggests employees are inherently motivated and will fulfill their work and responsibilities without coercion if provided with the right conditions.

Lower-order Needs

Basic human necessities in Maslow's hierarchy of needs, such as physiological and safety needs, which are fundamental for survival and security.

High Need

Refers to a critical requirement or an urgent desire that motivates individuals' behaviors or actions towards its fulfillment.

High Need for Achievement

A personality trait characterized by an individual's relentless drive and effort to reach goals and excel.