100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
C12 Variable Pay 1 – 2: Questions & Verified Solutions $9.99   Add to cart

Exam (elaborations)

C12 Variable Pay 1 – 2: Questions & Verified Solutions

 2 views  0 purchase
  • Course
  • VARIABLE PAY
  • Institution
  • VARIABLE PAY

C12 Variable Pay 1 – 2: Questions & Verified Solutions

Preview 2 out of 5  pages

  • November 5, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • VARIABLE PAY
  • VARIABLE PAY
avatar-seller
LeCrae
C12 Variable Pay 1 – 2: Questions & Verified Solutions

Fixed Pay Right Ans - Nondiscretionary compensation that does not vary
according to performance or results

Variable Pay Right Ans - Discretionary compensation that is contingent on
performance or results achieved

Fixed Pay Based on EE Value Right Ans - Value related to labor market.
Value related to performance. Value related to skills and competencies.

Variable Pay Based on Results Right Ans - Organizational, group or
individual. Performance based differentiation. Flexible and adaptable to the
circumstances.

Variable Pay Goal Right Ans - Improve organizational performance. Must
know business strategy and objectives in order to develop a plan.

3 Primary Business Strategies Right Ans - Operational Excellence,
Product/Service Leadership and Customer Intimacy.

Operational Excellence Right Ans - Price/cost based strategy. Strive to
minimize waste and reward efficiency.

Product/Service Leadership Right Ans - Innovation/Product development
based strategy. Encourages imagination and ability to commercialize fast.

Customer Intimacy Right Ans - Relationship based strategy. Build bonds
and meet or exceed needs which builds loyalty.

Operational Excellence Business Objectives Right Ans - Product quality,
operational efficiency improvement, process improvement and cost reduction.

Product/Service Leadership Business Objectives Right Ans - Market share
product development, time to market

Customer Intimacy Business Objectives Right Ans - Opinion of products,
quality, retention and satisfaction

, Business Life Cycle Right Ans - Start up, growth, mature and decline

Start Up Objectives Right Ans - Obtain capital, conserve cash, develop
brand awareness and marketing plan

Growth Objectives Right Ans - Production capability market penetration
and revenue growth

Mature Objectives Right Ans - Improve efficiency, stock price appreciation,
and increase market share

Decline Objective Right Ans - Maximize profits, extend product demand
and develop new products

Variable Pay Provides: Right Ans - Focus on important tasks by
establishing measures and objectives. Align employees with business goals by
balancing success between individual and organization. Motivates by
providing feedback which facilitates change. Reinforces desired behaviors by
showing the employees the businesses commitment to them.

3 categories of variable pay Right Ans - Incentives, Bonuses and
Recognition

Characteristics of Incentives Right Ans - Criteria determined in advance,
payment can vary, monetary or not, self funded or budgeted non-
discretionary

Characteristics of Bonuses Right Ans - Completion of task, amount
determined in advance, monetary, budgeted and nondiscretionary

Characteristics of Recognition Right Ans - Criteria broadly defined,
awarded spontaneously, after the fact, focused on behaviors, monetary or not,
budgeted and discretionary.

2 Types of Incentives Right Ans - Short (less than 12 months) and Long
Term (more than 1 year)

Short Term Incentives Right Ans - Profit sharing, performance sharing and
individual performance based

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80467 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart