In Many Organizations, the Budget Process Has Become Slow and Expensive

question 13

True/False

In many organizations, the budget process has become slow and expensive but is still connected to business objectives.

---

Definitions:

Organization-Level

Pertains to processes, characteristics, or outcomes that are collective in nature and pertain to the entirety of an organization.

Merit Pay

A compensation strategy that rewards employees based on their performance and achievements, rather than their tenure or position.

Profit Sharing

A company's practice of distributing a portion of its profits to its employees, often as a part of their compensation package.

Piece Rate Plan

A compensation system where employees are paid based on the quantity of work they produce or tasks they complete.