The key ingredient/activity in designing pay levels, mix, and pay structures in a pay-for-performance system is to align compensation with individual and organizational performance.
This involves determining appropriate salary levels, variable pay components (such as bonuses or incentives), and the overall structure of the pay system.
The rationale for this function's importance lies in its ability to motivate employees, drive performance, and achieve organizational objectives. By linking pay directly to performance, employees are incentivized to work harder, improve their skills, and contribute to the company's success. It promotes a culture of meritocracy and rewards high performers, leading to increased productivity and engagement.
If the function of designing pay levels, mix, and pay structures is not performed correctly, several organizational symptoms may arise. These include low employee morale, lack of motivation, high turnover rates, inconsistency in rewards, perceived unfairness, and difficulty attracting and retaining top talent.
Different models exist for designing pay-for-performance systems, such as merit-based pay, incentive-based pay, or a combination of both. The key difference lies in the emphasis placed on individual performance versus overall team or organizational performance.
Executing the prescribed models involves several steps, including conducting market research on compensation benchmarks, defining performance metrics and goals, establishing a transparent performance evaluation process, designing the pay structure, communicating the system to employees, and regularly evaluating and adjusting the system based on feedback and results.
Issues that could prevent successful execution of this function include inadequate data analysis, ineffective performance evaluation methods, biased decision-making, insufficient communication and employee buy-in, lack of flexibility in adjusting the system, and failure to align compensation with overall organizational strategies.
Critical success factors for successfully executing this function include clear and measurable performance metrics, effective communication and employee involvement, regular performance feedback and coaching, fair and transparent evaluation processes, ongoing evaluation and adaptation of the system, and alignment of pay with organizational goals and market conditions.
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Allowing third-party sellers to list their products on Amazon is controversial. Why would Amazon allow products sold by others to appear on its site?
a. Selection attracts consumers.
b. A network effect competitive advantage is created where more buyers attract more sellers, giving Amazon an advantage over any rival attempting to create a similar marketplace.
c. Although products are sold by third parties, Amazon gains valuable data on things such as customer browsing habits and sales.
d. Amazon's brand is reinforced as a first-choice shopping destination.
e. All of the above.
Answer:
e. All of the above.
Explanation:
Interestingly, all the above-listed options could serve as a possible reason why Amazon allows products sold by others to appear on its site.
Remember, Amazon is a marketplace; since the definition of a market involves dealings with several entities, it thus logical to expect Amazon to allow people (other sellers) to transact on its platform.
A friend told Mohammed, Your business would be more successful if you only served in the shop and let your workers make the bread and cakes. Do you agree? Justify your answer
Answer:
Yes
Explanation:
As the 9wner of business, you will know how to controll your finance than paying someone.
1- If a perfectly competitive firm finds that it is producing an amount of output such that MR > MC and P > AVC, it will *a- not change its behavior.b- leave the industry.c- increase its output.d- decrease its output.
If a perfectly competitive firm finds that it is producing an amount of output such that MR > MC and P > AVC, it will c- increase its output. This is because the firm can increase its profit by producing more units when marginal revenue is greater than marginal cost, and the price is greater than average variable cost.
Competitive refers to a situation or environment where individuals, organizations, or entities actively strive to outperform or surpass others in a particular field or market. It often involves fierce rivalry, intense competition, and a drive to gain a competitive advantage. In a competitive setting, participants may employ strategies, innovations, or tactics to differentiate themselves, attract customers, and achieve superior results. Factors such as pricing, quality, customer service, branding, and marketing play crucial roles in determining success within a competitive landscape. Adapting to changing market dynamics and continuously improving performance are key aspects of competitiveness.
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What is one major function of retail banks?
A. Keeping all deposits in reserve at all times
B. Offering loans that use car titles as collateral
C. Providing credit and debit cards to customers
D. Managing the payroll of major corporations
SUBMIT
Answer:
The role of retail banking is to help individual consumers manage their money, gain access to credit, and deposit their money in a secure way.
Explanation:
Providing credit and debit cards to customers is a major function of retail banks. Hence, the correct answer is option C.
What are retail banks?Retail banks are financial institutions that provide banking services to individuals and small businesses. These services include deposit accounts, such as savings and checking accounts, as well as loans, mortgages, credit and debit cards, and other financial products.
Providing credit and debit cards to customers is a major function of retail banks because it allows customers to make purchases without the need for cash and helps facilitate online and mobile payments. Credit and debit cards also generate revenue for retail banks through fees and interest charged on balances, making them an important source of income for banks.
Hence, providing credit and debit cards to customers is a major function of retail banks. Therefore, the correct answer is option C.
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Terophone charge is debit or credit
Answer:
credit
Explanation:
Assessment Questions
In What is Insurance
b Explain the following term in
Insure
premium
Explanation:
insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
premium an agreed payment for insurance
insure to protect something against unforseen risks like fire death etc.
Answer:
dch gang from BJP by v for Vendetta the intended recipient you are not the intended recipient you are not the intended recipient you are
How
should a firm improve their marketing strategy to increase number
of Black, Asian, and other minority ethnic (BAME) students applying
to a graduate recruitment programme, focusing in particular on
A firm can improve their marketing strategy to increase the number of Black, Asian, and other minority ethnic (BAME) students applying to a graduate recruitment programme by focusing on the following points:Developing a diverse marketing campaign: The marketing campaign should include images, videos, and testimonials of BAME employees.
This will give BAME students a sense of representation, inclusion, and belonging and inspire them to apply to the graduate programme. Additionally, firms can partner with BAME student organizations and societies to promote their brand and recruitment programme to BAME students directly. Offering internships: Offering internships to BAME students is a great way to attract talent. This gives BAME students an opportunity to experience the firm's culture, values, and work environment before committing to the graduate programme. It also allows the firm to assess the students' skills and potential for long-term employment. Providing mentorship and networking opportunities: Many BAME students may not have access to the same level of professional networks and mentorship as their white counterparts. Providing mentorship and networking opportunities can help bridge this gap and provide BAME students with the support and guidance they need to succeed.
In conclusion, a firm can improve their marketing strategy to increase the number of BAME students applying to a graduate recruitment programme by developing a diverse marketing campaign, offering internships, and providing mentorship and networking opportunities. These strategies will not only attract BAME students to the firm but also help them feel supported, valued, and included in the firm's culture.
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How can a user see the properties attached to a field in a database?
O Use the Design view, and click the data type.
O Use the Design view, and click the field name.
O Use the Datasheet view, and click the data type.
O Use the Datasheet view, and click the field name.
Answer: use the design view, and click the field name
Explanation:
Answer:
B
Explanation:
Relationship service marketing differs from traditional service marketing in that in relationship service marketing:
need satisfaction is approached from the standpoint of the "part."
the primary sales contact is through a trained marketing professional.
profitability is assessed on individual services.
the emphasis is on selling the service a customer requests.
In relationship service marketing, the correct statement is: need satisfaction is approached from the standpoint of the "part."
Relationship service marketing focuses on building and maintaining long-term relationships with customers. It recognizes the importance of understanding individual customer needs and preferences. Rather than solely emphasizing selling the service a customer requests, relationship service marketing aims to identify and fulfill the broader needs of the customer, even those they may not explicitly express. It involves tailoring services to meet individual customer requirements and building trust and loyalty over time. The primary goal is to develop strong, mutually beneficial relationships with customers, considering their specific needs and preferences as the foundation for delivering exceptional service.
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Explain why the credit industry wants you to believe that you need a credit score
Answer:
Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.
Let understand that Credit score refers the score which tells about a consumer's creditworthiness.
In practice, the higher the credit score of an individual, the higher the rate of repayment of credit gotten.
The Credit scoring is used the lenders to help them decide whether to borrow, extend or deny credit.
Therefore, the credit industry wants one to believe you need credit score because its helps them to ascertain your creditworthiness.
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The demand function for a certain product is given by p=55-0.8q. Find the manufacturer's marginal revenue when q=20. a. None of the above
When q = 20 the manufacturer's marginal revenue is calculated by determining the revenue function and its derivative with respect to q. It is, therefore, found that the manufacturer's marginal revenue is 39.
The revenue function is obtained by multiplying the price (p) by the quantity (q) Revenue = Price * Quantity.
The demand function is given as p = 55 - 0.8q.
Now by substituting the value of q, we get p = 55 - 0.8 * 20.
p = 39.
So, when q = 20, the price p = 39.
Now to calculated revenue = p * q.
Revenue = 39 * 20.
Revenue = 780.
Now, we can calculate the marginal revenue by taking the derivative of the revenue function with respect to q.
Marginal Revenue = d(Revenue) / dq.
Differentiating the revenue function, we get.
Marginal Revenue = d(39q) / dq.
Marginal Revenue = 39.
Therefore, the manufacturer's marginal revenue is 39 .
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A farmer has 300 hectares of land available for growing wheat and corn. The average cost of growing wheat is $90 per hectare, and each hectare requires 25 hours of labour. The average cost of growing corn is $60 per hectare, and each hectare requires 10 hours of labour. The farmer has a maximum of $21,300 available to spend growing the crops and a maximum of 5350 hours of labour available. The farmer expects to make a profit of $200 per hectare of wheat and $140 per hectare of corn. Determine the number of hectares of each crop that the farmer should plant to maximize the profit. What is the maximum profit?
The farmer should plant 180 hectares of wheat and 120 hectares of corn to maximize his profit, and the maximum profit is $52,800.
We can solve this problem using Linear Programming. In Linear Programming, we try to maximize or minimize a linear function subject to constraints. Let us assume that x1 hectares of wheat is grown, and x2 hectares of corn is grown. To maximize the profit, we need to maximize the expression: $200x_1 + $140x_2.
Subject to the following constraints:
x1 + x2 ≤ 300 (Land Constraint) - Equation 1
90x1 + 60x2 ≤ 21300 (Cost Constraint) - Equation 2
25x1 + 10x2 ≤ 5350 (Labour Constraint) - Equation 3
x1 ≥ 0 (Wheat is grown in hectares) - Equation 4
x2 ≥ 0 (Corn is grown in hectares) - Equation 5
Using the Simplex Method, we can solve the above linear equations. Below is the optimal solution for the above equations: x1 = 180 hectares of wheat, x2 = 120 hectares of corn.
The maximum profit is obtained by substituting the above values of x1 and x2 in the expression for profit. The maximum profit is calculated as follows: $200 x 180 + $140 x 120 = $36,000 + $16,800 = $52,800.
Hence, the farmer should plant 180 hectares of wheat and 120 hectares of corn to maximize his profit, and the maximum profit is $52,800.
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The Italy can produce 20 Gas turbines and 60 Tyres. France can produce 80 Gas turbines and 30 Tyres.
a). What is the opportunity
cost of producing Gas turbines in Italy? ______ tyres.
b). What is the opportunity cost of producing Tyres in
France ? _______ Gas turbines.
Answer:
1. 60 Tyres
2. 80 Gas Turbines
Explanation:
Given that the Opportunity cost is an economics term that is used in describing the cost of an alternative that must be forgone to continue or proceed with a certain activity.
Hence, in this case, considering the available information in the question, the correct answer is that the opportunity cost of producing Gas turbines in Italy is 60 Tyres.
At the same time the opportunity cost of producing Tyres in France 80 Gas turbines.
Enter text- Apply A text Effect
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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what is equal billing and how can it help you when creating your monthly budget?
Answer:
a check book
Explanation:
it keep everything down
Equal billing, which divides the cost of a service or product equally between two or more parties, can be useful when making a monthly budget because it enables you to precisely estimate and budget for your spending.
What is Budget?A budget refers to making financial planning for the expenses that are going to occur and controlling the spending of an individual. The budget gives an estimate of the expenses.
Equal billing can help you in eliminating arguments or disagreements about who is responsible for a service or product with other parties. You can prevent any potential disputes or problems by agreeing to split the cost equally.
By doing this, you can prevent unanticipated expenditures and make sure you have enough money to pay for all of your necessary bills.
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Samples Activity in doing Online Survey for Market Demands of Fruits? help please I can’t answer
How many people work as box office managers?
Answer:
hmmm like in the world?
Explanation:
Answer: a valid amount of people
Explanation:
Finance is defined as ______.
a. the study of how money is managed by individuals, companies, and governments.
b. accounts with funds that usually cannot be withdrawn without advanced notice.
c. money stored in an account at a bank or other financial institution that can be withdrawn without advance notice.
d. anything generally accepted in exchange for goods and services.
Answer:
the management of large amounts of money, especially by governments or large companies.
Explanation:
It's just common sense.
Cash received prior to delivering a product or performing a service is called a(n) a.unearned asset. b.unearned revenue. c.unearned expense. d.unearned contra-asset.
The correct answer is b. unearned revenue.
Unearned revenue, also known as deferred revenue or advance payments, refers to the cash a company receives from its customers for goods or services that it has not yet delivered or performed. Unearned revenue is considered a liability on the company's balance sheet until the work is completed or the product is delivered, at which point it becomes revenue that can be recognized on the income statement.
Unearned revenue is commonly found in industries such as software and subscription-based services, where customers pay upfront for future access to products or services. It's essential for companies to properly account for unearned revenue to avoid overstating their revenue and profits in a given period.
When a company receives unearned revenue, it records it as a liability on its balance sheet and recognizes it as revenue on the income statement when the associated goods or services are provided. The amount of unearned revenue decreases over time as the company fulfills its obligations to its customers.
In summary, unearned revenue represents cash received by a company before it delivers a product or service to its customers, making it a liability on the company's balance sheet until the related revenue is recognized on the income statement.
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Explain why the primary sector in particularly needs to use resources sustainably
The primary sector, in particular, needs to use resources sustainably due to its direct reliance on natural resources and the potential for negative environmental if resources are depleted or mismanaged.
The primary sector, which includes activities like agriculture, mining, forestry, and fishing, is directly dependent on natural resources for its operations.
It relies on land, water, minerals, and other raw materials to produce goods and provide essential services. Using resources sustainably is crucial because the primary sector has the potential to significantly impact the environment and local communities.
If resources are overexploited or mismanaged, it can lead to habitat destruction, soil erosion, water pollution, and biodiversity loss. Unsustainable practices can also deplete resources, causing long-term economic harm and jeopardizing the sector's future viability.
By adopting sustainable practices such as responsible harvesting, efficient resource utilization, and conservation efforts, the primary sector can ensure the long-term availability of resources, minimize environmental damage, and contribute to the overall sustainability of the economy and society.
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the accounts payable account of waterford, inc. has the following postings: accounts payable 16,000 28,000 9,000 14,000 calculate the ending balance of the account.
The ending balance of Waterford inc. is 17000 credit
Accounts payable is a liability of the business. This account receives credit when we purchase anything from a supplier on credit, and it receives a debit when we pay the supplier, receive a purchase allowance, or return something to the provider.
The closing balance, or balancing amount, is displayed on the ledger's debit side if the ledger's credit side is greater than its debit side, and vice versa.
Total of the credit side of the accounts payable account = 28000 + 14000 = 42000
Total of the debit side of the accounts payable account = 16000 + 9000 = 25000
Since the credit side is greater than the debit side so accounts payable will have a credit balance of = 42000 - 25000 = 17000
Hence, the final balance of Waterford inc. is 17000 credit
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OJT is best for large groups.
True
False
Several controls are used to safeguard inventory except a.keeping high-priced inventory behind lock and key. b.hiring security guards. c.allowing all employees access to the materials warehouse. d.installing sensors at all exits.
Answer:
Option C, allowing all employees access to the materials warehouse, is the right answer.
Explanation:
Option C is the correct answer because option C recommends allowing access to all the employees. However, allowing access to all employees will reduce security and increase the risk level. While all given options are helpful in safeguarding the inventory except option C. Thus, in this case, it would be difficult to monitor every employee. So Option C is the right answer.
what is the income flow associated with labour?
Answer:
Explanation:
Factor income is the flow of income that is derived from the factors of production ,the general inputs required to produce goods and services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit.
Bil Tarnofsky makes the following statement: 'We must become more flexible if we are to meet our personnel needs and maximize efficiency. In the past, we simply hired as many full-time employees as we thought we needed. But this focus has caused us to lose many valuable employees. We should offer flextime and job sharing options to help us keep and attract talented employees. "Margaret Robin responds by saying "Alternatives to traditional job design approaches can lead to significant cost savings. Next year we are expected to have 500 more employees than our current facility allows, but my analysis reveals that 600 of our employees could telecommute. Therefore, we can avoid costly actions such as moving our offices or building extensions if these workers became telecommuters, job sharing can also reduce facility costs as well as payroll costs. Tamnofsky and Robin would be most likely to disagree about which of the following questions?
A. Would telecommuting likely lead to cost savings?
B. Does the organization have a moral obligation to offer flextime and job sharing options?
C. If offering a job sharing option would not reduce costs, should the organization still offer it?
D. Would the organization be better able to keep valuable employees if it offered flextime and job sharing options?
E. Are any other organizational structure decisions important for the future of the organization?
Answer:
C. If offering a job sharing option would not reduce costs, should the organization offer it?
Explanation:
The statement Bil Tarnofsky makes is focused on retaining talented employees and attract new talented employees, by offering flextime and job sharing options
The statement Margaret Robin responds with is the use of alternative job design, such as telecommuting could achieve higher cost savings from the need to accommodate the 500 more employees, by moving the offices and expanding the buildings, in the coming year
Tamnofsky and Robin would be most likely to disagree on the different focus of their statements which are; If offering a job sharing option would not reduce costs, should the organization offer it?
How did president dwight d. eisenhower surpass the new deal in government involvement in the economy?
President Dwight D. Eisenhower oversaw the construction of 41,000 miles of interstate highways, surpassing the goals of the New Deal in terms of government participation in the economy.
The largest public works project in the history of the country was made possible by this act, which permitted the construction of roadways over the whole country. The Federal-Aid Highway Act of 1956, also referred to as the National Interstate and Defense Highways Act of 1956, created the interstate highway system in the United States.
The Interstate System became a part of our culture as a result of the construction initiatives that began when Eisenhower signed the Federal-Aid Highway Act in 1956.
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Which document not only helps in a job search but also helps in job advancement?Apart from a job search, a “blank”
also helps in job advancement.
Answer:
resume
Explanation:
A resume aids the job-seeking process in that it: organizes experiences and skills.
The document not only helps in a job search but also helps in job advancement. Apart from a job search, a resume also helps in job advancement.
What is job?
The term “job” refers to being employed by a particular company. The job creates an opportunity to build a career. A job provides financial support and allows you to gain experience. There are producers, builders, thinkers, and improvers.
A resume assists in the job-search process by organizing experiences and skills. A resume is required for nearly everyone who applies for a job. A brief written account of your schooling, qualifications, and past positions that you send to a company when looking for work. A resume is a legal statement created by a job candidate to list their qualifications for a job.
As a result, the document not only helps in a job search but also helps in job advancement.
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The file Eimployee tat cantains employee deulls of tav type of enployees, monthly-peid and weurly-paid. The Wrie a properam that will nad all die employees details from the tect file. If eriployer tope is manthy , the employ ce details will be ave to the monthly sxt file eise another file hourh at will be chand to save the hourly employee details.
To separate employee details from a text file based on payment type (monthly or hourly), write a program that reads the file, identifies the payment type, and saves the details to respective output files accordingly.
To read employee details from a text file and separate them based on their payment type (monthly or hourly), you would typically need to write a program in a programming language of your choice. Here is a high-level algorithm you can follow:
Open the input text file for reading.Create two output files: one for monthly-paid employees and another for hourly-paid employees.Read each line of the input file.Split the line into individual details (e.g., employee ID, name, payment type).Based on the payment type, write the details to the respective output file (monthly or hourly).Repeat steps 4-5 for each line in the input file.Close all the files after processing.Remember to handle any errors or exceptions that may occur during file operations or data processing. Additionally, ensure that you define the file format and structure, such as the delimiter used to separate employee details in the input file.
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Why is it important for public corporations to comply with audits
Answer:
Explanation:
Accounting and auditing professionals serve an absolutely vital role in our capital markets. Transparent, informative and accurate financial reporting are the lifeblood of the capital markets and are essential for investors to make informed decisions as to how to allocate their capital.