Two Specific Forms of Individual-Based Pay-For-Performance Programs

question 102

Multiple Choice

Two specific forms of individual-based pay-for-performance programs

• A)stock options and profit sharing.
• B)piece-rate wages and profit sharing.
• C)profit-sharing and merit-based pay.
• D)variable-pay programs and profit sharing.
• E)piece-rate wages and bonuses.

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Definitions:

Activity-Based Management

A management approach focusing on managing activities as a way to improve the quality and reduce the costs of goods produced or services provided.

Cost Reduction

The process of cutting expenses to improve profitability without compromising the quality or availability of goods and services.

Customer Value

The perception of what a product or service is worth to a customer versus the possible alternatives, often influencing their loyalty and purchasing behavior.

Average Cycle Time

The average duration it takes to complete a process from start to finish, often used in manufacturing and project management.