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3 years ago

Define incentive. Provide an example of a financial and a non financial incentive....

Business

2 answers:

Montano1993 [528]3 years ago

7 0

An incentive is a thing that motivates or encourages one to do something.

Financial incentives can include things like bonuses, raises, paid time off, and other things that involve money.

Non-Financial incentives include things like recognition, respect, career development opportunities, retirement planning assistance, improved work environment, etc.

elena-14-01-66 [18.8K]3 years ago

5 0

<u>Incentives:</u>

A thing that can attract an employee's attention and motivates or encourages them to work more can be called as incentives. It aims at improving overall performance of an organization.

Financial incentives:

Financial incentives are considered as offering cash for extra efficiency of an employee. And satisfy the monetary and future security needs of the individuals. For example, Profit sharing plan, Bonus, retirement benefits, pay and allowance, etc.

Non financial incentives:

This type of incentives are considered as motivational factor for the employees. Apart from the monetary and future needs, an individual also has psychological, social and emotional needs. It cannot be measured. For example, job enrichment, employee empowerment, job security.

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2 years ago

Many vendors will provide a discount on supplies when they are ordered in ________.

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3 years ago

East Publishing Company is doing an analysis of a proposed new finance text. Using the following data, answer Parts a through e.

Alik [6]

Answer:

a. Determine the company’s breakeven volume for this book. •i. In units ii. In dollar sales

total fixed costs = $70,000

variable costs per unit = $16

sales price = $30

contribution margin = $30 - $16 = $14

break even point in units = $70,000 / $14 = 5,000 textbooks

break even point in $ = 5,000 x $30 = $150,000

b. Develop a breakeven chart for the text.

units fixed costs variable costs total costs total sales

0 70000 0 70000 0

1000 70000 16000 86000 30000

2000 70000 32000 102000 60000

3000 70000 48000 118000 90000

4000 70000 64000 134000 120000

6000 70000 96000 166000 180000

I attached the graph that corresponds to this break even chart.

c. Determine the number of copies East must sell in order to earn an (operating) profit of $21,000 on this text.

($70,000 + $21,000) / $14 = 6,500 units

total sales = 6,500 x 30 = $195,000

d. Determine total (operating) profits at the following sales levels: i. 3,000 units •ii. 5,000 units iii. 10,000 units

i. $28,000 loss

ii. no gain/loss, break even point

iii. $70,000 gain

e. Suppose East feels that $30.00 is too high a price to charge for the new finance text. It has examined the competitive market and determined that $24.00 would be a better selling price. What would the break even volume be at this new selling price?

new contribution margin = $24 - $16 = $8

new break even point in units = $70,000 / $8 = 8,750 textbooks

3 0

3 years ago

The individual firm in a purely competitive labor market faces:

Reptile [31]

Answer:

The correct answer is D. perfectly elastic labor supply curve and a downsloping labor demand curve.

Explanation:

The basis of the model is the assumption that no player in the market is large or strong enough to be able to control the industry. There are many buyers and sellers, and each one is small. Companies can sell any amount of production at market prices. Companies in this form of market face a horizontal demand curve, and all companies produce a homogeneous product.

A large number of small sellers and buyers exist in this type of market. No entity is so powerful that it can change the face or direction of the industry. No company can produce any control over the price or quantity of the product. Although each company increase or decrease prices and production, the industry as a whole remains unchanged.

8 0

3 years ago

Which best explains why producers choose to specialize? Check all that apply.

Y_Kistochka [10]

Answer:

1. to gain a comparative advantage

2. to increase efficiency

Explanation:

Specialization involves concentrating on producing a few items that once can produce better than others.

Specializing in producing a few preferred goods and services makes a person, company, or country more efficient in resource usage. They consume fewer inputs, such as labor, while making the goods and services. The use of fewer inputs is increasing efficiently, which makes their products cost less compared to competitors.

Specialization makes a company or individual an expert in what they do. Experts make quality products. High quality at competitive prices gains a country or company comparative advantage over the others.

6 0

3 years ago