Mark's employer passes out checks at the end of each quarter, representing an equitable portion of 5% of the company's pretax profits for the previous period. This is known as
A. pay for performance.
B. pay for knowledge.
C. a bonus.
D. profit sharing.
E. gainsharing.
D. profit sharing.
Profit sharing is the distribution to employees of a percentage of the company's profits.
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Competition refers to
A. any product or service that vies for a portion of a customer's discretionary income. B. identical products that perform identical functions. C. alternative firms that could provide a product to satisfy a specific market's needs. D. any for profit organization that targets the customers of other organizations. E. the set of firms that operate in a given geographic region, regardless of product or service.
If available capacity is insufficient in the medium term, what strategy can the firm follow?
a. hire more workers b. build a new facility c. backorder items in shortage d. exit the market