You own Falzer’s Tool Coating Company, a high-tech firm specializing in the coating of cutting tools (e.g., drill bits, cutting blades) to provide longer life before resharpening is needed. You are concerned that the competition continues to develop new coating methods and new applications of coating in different industries. You want to create a work environment where employees offer more new product ideas, and suggest new industries where these ideas might be applied. What type of compensation plan will you recommend? What are some of the problems you need to be aware of?
Answer to relevant QuestionsWhy do the new accounting standards make stock options less popular? Think about the last group project you worked on. Describe that project and identify three performance criteria you think would be appropriate for evaluating the team members. Should every team member be able to rate one ...Describe how a benefits program might increase worker attraction, retention, and motivation. We read an article the other day that said it’s getting harder to find good people willing to serve on a corporate board of directors. Given what you learned in this chapter, speculate on why it’s hard to attract good ... . It is probably true that, if given a choice, unions would prefer to implement a skill-based pay system rather than some form of gain-sharing plan. Why?
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