Photo AI
All staff in a business participate equally in a profit-sharing scheme - HSC - SSCE Business Studies - Question 6 - 2022 - Paper 1
Question 6
All staff in a business participate equally in a profit-sharing scheme. Which row of the table correctly identifies this reward strategy? | Reward | Staff |... show full transcript
Worked Solution & Example Answer:All staff in a business participate equally in a profit-sharing scheme - HSC - SSCE Business Studies - Question 6 - 2022 - Paper 1
Step 1
Identify the Reward Strategy
Answer
The question specifies that all staff participate equally in a profit-sharing scheme. This type of reward structure typically falls under 'Monetary' rewards since it directly relates to sharing profit, which is a financial incentive.
Furthermore, since 'all staff' are participating equally, this indicates a group-based reward rather than individual-based, as it does not distinguish between individual contributions. Therefore, the reward strategy being discussed is 'Monetary' for a 'Group'.
Step 2