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C232--9.7
WGU HR Section 9.7
| Question | Answer |
|---|---|
| define "piecework plan"? | employees are guaranteed a standard pay rate for each unit of output, also called a piece rate. The rate per hour is frequently determined by the time-and-motion studies of standard output and the current base pay of the job. |
| what is a "Standard Hour Plan"? | the standard hour plan, which is essentially a piecework plan, except that standards are denominated in time per unit of output rather than money per unit. Tasks are broken down according to the amount of time it takes to complete them. |
| What is a "Measured day work plan"? | formal production standards are established & performance is judged against these standards. But with measured day work, typical standards are less precise. Standards may be determined by the results of a ranking procedure. |
| what are "Sales Incentive Plans"? | Sales incentive plans apply to salespeople and managers, who generally receive their pay in the form of commissions. A commission is usually a percentage of the sales revenue generated by the employee. |
| What are "Stock Options"? | A stock option is an opportunity for a manager to buy an organization's stock at a later date, but at a price established when the option is granted. share in the long-term success of the organization. |
Created by:
jpayn11
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