Compensation Strategies and Business Strategy Terms, Quizzes of Compensation and Reward Management

Download Compensation Strategies and Business Strategy Terms and more Quizzes Compensation and Reward Management in PDF only on Docsity! TERM 1 Internal alignment DEFINITION 1 "Fostering team culture and emphasizing collaboration" falls under which of the following compensation strategies? TERM 2 Business Unit DEFINITION 2 Gaining competitive advantage in the current business is a strategic choice in which of the following level? TERM 3 differentiation DEFINITION 3 According to Michael Porter's strategy work, firms that seek to provide a unique and/or innovative product or service at a premium price are said to follow a _____ strategy. TERM 4 Cost cutter DEFINITION 4 Emphasizing on productivity and operational excellence" is part of which of the following strategies? TERM 5 According to Miles and Snow, firms that operate in stable markets and compete on cost are referred to as _____. DEFINITION 5 defenders TERM 6 Though in different businesses, Medtronic, Merrill Lynch and Google have very similar pay strategies DEFINITION 6 false TERM 7 Alignment is often used in marketing to clarify and communicate a product's identity. DEFINITION 7 false TERM 8 Three main components of pay model DEFINITION 8 compensation objectives, the policy decisions ,and techniques that make up the pay system TERM 9 Belonging to a union in the public sector seems to raise male wages more than it raises female wages. DEFINITION 9 false TERM 10 Minimum-wage legislation is intended to provide an income floor for workers in society's most productive jobs. DEFINITION 10 false