BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Control.
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Motivate.
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Constrain.
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Demotivate.
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Detailed explanation-1: -Performance-based rewards are allocated based on the performance of an employee in a company. Performance-based rewards are given in pay plans, incentive systems, group bonuses, or commissions. Membership-based rewards are given in the form of benefits and services provided to the company’s employees.
Detailed explanation-2: -For employees, performance-based compensation is a reward for their hard work and acts as an acknowledgment of their contribution to the firm as well as functioning as an incentive to stay with the company. Most employee bonuses are performance-based compensation.
Detailed explanation-3: -The definition of an incentive is: a thing that motivates or encourages one to do something. The definition of a reward is: a thing given in recognition of service, effort, or achievement, or; a fair return for good behaviour.