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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 profit-sharing scheme is a method where employees share in the profits of the business, typically seen as a form of monetary reward. Since all staff participate equally, it aligns with a group incentive rather than individual incentives.
Thus, the correct identification of this reward strategy is:
- Reward: Monetary
- Staff: Group