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Types Of Variable Pay: Questions With Complete Answers (Rated A+)
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Types Of Variable Pay: Questions With Complete Answers (Rated A+)
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Types Of Variable Pay: Questions With CompleteAnswers (Rated A+)
WorldatWork Right Ans - Premier global nonprofit professional
organization for professionals who design and deliver Total Rewards
programs.
Total Rewards Right Ans - Includes all tools available to the employer to
attract, motivate, engage, and retain employees.
Variable Pay Right Ans - Component of an organization's total rewards
program that is discretionary or contingent on performance or results
achieved.
Fixed Pay Right Ans - Nondiscretionary compensation that does not
regularly vary according to performance or results achieved.
Business Strategy Right Ans - Broad framework of principles and
approaches guiding day-to-day decisions affecting the business.
Operational Excellence Right Ans - One of the three common business
strategies focusing on operational efficiency and productivity.
Product/Service Leadership Right Ans - Business strategy focusing on
offering superior products or services in the market.
Customer Intimacy Right Ans - Business strategy emphasizing strong
relationships and tailored solutions for customers.
Variable Pay Goal Right Ans - To improve organizational performance by
aligning rewards with achievements.
Operational excellence Right Ans - Primarily a price/cost-based strategy
that includes a combination of price, quality, dependability, and ease of
purchase that competitors cannot match.
, Product/service leadership Right Ans - Primarily an innovation-based
strategy that focuses on innovation, product development, and market
exploitation.
Customer intimacy Right Ans - Primarily a solutions-based strategy that
focuses on creating results for carefully selected customers and building deep
relationships with them.
Business objectives: operational excellence Right Ans - Include product
quality, operational efficiency improvement, process improvement, and cost
reduction.
Business objectives: product/service leadership Right Ans - Include market
share/market penetration, product development, and time from innovation to
market.
Business objectives: customer intimacy Right Ans - Include customer
opinion of products, customer retention, customer satisfaction, and product
quality.
Business life cycle: Start-up Right Ans - Characterized by being new with
little formal policies, focusing on obtaining capital, marketing products, initial
sales growth, and cash conservation.
Business life cycle: Growth Right Ans - Characterized by a focus on growing
sales, increasing distribution capability, and standardizing procedures
through policy creation.
Business life cycle: Mature Right Ans - Characterized by a focus on
maintaining/increasing market share, improving productivity, and having
higher levels of bureaucracy and cash on hand.
Business life cycle: Decline Right Ans - Characterized by declining revenues
and the need to decide on reinvesting in current products, creating new
products, or maximizing profits with current products.
Business life cycle influences on business objectives Right Ans - The
organization's position in the life cycle influences objectives such as obtaining
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