Kaitlin is manager of the county library and is considering developing and implementing a reward and incentive system that helps promote good strategy execution. What should she AVOID doing in her strategy implementation effort?
A. The payoff for meeting or beating performance targets must be a major, not minor, piece of the total compensation package.
B. Any incentive plan should extend to all managers and all employees, not just top management.
C. The reward system must be administered with scrupulous objectivity and fairness.
D. Ways must be found to reward deserving nonperformers who, for some reason, do not fare well under the incentive system.
E. Make sure that the performance targets each individual or team is expected to achieve involve outcomes that the individual or team can personally affect.
Answer: D
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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit SalesJanuary$70,000$340,000February$50,000$190,000March$40,000$135,000April$35,000$120,000May$45,000$160,000June$40,000$140,000The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:Collections on sales:60% in month of sale30% in month following sale10% in second month following saleThe accounts receivable balance on January 1 of the current year was $70,000, of which $50,000 represents uncollected December sales and $20,000 represents uncollected November sales.The total cash collected during January by LaGrange Corporation would be:
A. $254,000 B. $410,000 C. $344,000 D. $331,500
Which of the following items is a legal justification for paying unequal wages based on gender?
A) Seniority only B) Seniority, merit, and quantity or quality of work C) Quantity or quality of work only D) Merit only E) None of the above
On March 1, 2016, LeBlanc, Inc. paid $60,000 for office rent covering the three-month period ending May 31, 2016. Journalize the adjusting entry on March 31 by using the alternative treatment of deferred expenses
What will be an ideal response
A supplier has just been awarded a large contract by your company. As an employee in purchasing, you were largely responsible for awarding that supplier the contract. The supplier's sales representative has just called and would like to take you to lunch to thank you for the support. Going to lunch with the sale representative does not present any ethical problems
Indicate whether the statement is true or false