Discuss two ways of expressing external competitiveness in practice.
What will be an ideal response?
External competitiveness refers to the pay relationships among organizations-the organization's pay relative to its competitors. It is expressed in practice by (1) setting a pay level that is above, below, or equal to competitors; and (2) by considering the mix of pay forms relative to those of competitors. Both pay level and pay forms focus on two objectives: (1) to control costs and (2) to attract and retain employees.
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At GG’s Gourmet, employees of lower levels are given the power to make decisions and solve problems without having to seek approval from management. This is an example of what type of organizational structure?
A. decentralized B. centralized C. customer-focused D. leader-focused
Items such as sheet metal, treated lumber, corn syrup, and plastics are examples of__________
Fill in the blanks with correct word.
The notion that management retains all rights to make decisions on issues that are not explicitly addressed in the contract is called the:
A. Reserved or residual rights doctrine B. Management rights clause C. Management security doctrine D. Covenant of good faith and fair dealing
A company had sales of $380,000 and cost of goods sold of $215,000. Its gross profit equals $165,000.
Answer the following statement true (T) or false (F)