Due to changes in production, Hanson steel gave each employee 75 percent of the cost savings. Hanson steel uses a <u>gainsharing </u>compensation plan.
A compensation plan refers to the practices, methods, and intentional approach that's used by an organization in maintaining financial interests and developing, retaining, attracting, and rewarding employees in an industry.
It should be noted that the gainsharing compensation plan refers to a compensation plan that is used to increase profitability as employees share in the company's gain. Since the workers share 75% of the cost savings, this is a gain-sharing compensation plan.
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Answer:
Continuous production process
Explanation:
Continuous production process -
It is also known as continuous flow process , continuous process .
It refers to the constant method to manufacture , produce or process the goods and services , is referred to as Continuous production process .
The example of Continuous production process is blast furnace , nuclear power plants etc.
The method demands a lot of attention and manual work to perform this task .
Hence , from the given scenario of the question ,
The correct term is Continuous production process .
Answer:
True.
Explanation:
ISO 9000 is a certification program attesting that a factory, laboratory, or office has met the rigorous requirements set by the International Organization for Standardization.
Basically, the ISO 9000 is a tripartite continuous process that involves planning, controlling and documentation of quality in a business firm or organization.
This ultimately implies that, the ISO 9000 is a set of standards that typically guides an organization in ensuring that they meet both the stakeholders and consumer requirements or needs with respect to their products and services under statutory and regulatory requirements at a specific period of time.
The focus of a blue ocean strategy is on lowering the economic value created, whereas a cost-leader focuses on increasing the economic value created.
