Strategic Employee Rewards and Compensation Management
Understanding Employee Reward Systems
Reward systems are a set of material and non-material counterparts that employees receive for the quality of their performance, their long-term contribution to business development, and their identification with the company’s values and operational principles:
- Non-monetary Rewards (Intrinsic)
- Monetary Rewards or Compensation (Extrinsic)
Compensation Management Principles
Compensation management involves determining appropriate compensation levels based on the complexity
Read MoreEU Social Rights: Child Protection, Education, and Migration
One of the most important principles of the European Pillar of Social Rights is dedicated to minors. Specifically, it is the principle of Child Care and Support. It states that: “Children have the right to quality and affordable early childhood education and care. Children have the right to be protected from poverty. Children from disadvantaged backgrounds have the right to special measures to promote equal opportunities”.
Youth Policy and EU Strategy
Youth is a national policy, and harmonization
Read MoreMastering Service Quality & Customer Experience
Characteristics of Services
- Intangibility: Services cannot be seen, touched, or stored before they are delivered. Customers cannot evaluate a service in advance, making trust, brand reputation, and testimonials very important. Example: You cannot “see” legal advice before receiving it.
- Inseparability: Services are produced and consumed simultaneously. The provider is often part of the service, meaning employee behavior and customer interaction are critical. Example: A haircut requires the customer
Group Dynamics: Formation, Types, and Cohesion Principles
Defining a Group
A group consists of a plurality of interrelated individuals, each performing a particular role, working towards common goals, and interacting to varying degrees according to a set of established guidelines.
Classifications of Groups
Groups can be classified according to various criteria:
Group Types by General Criteria
- The Crowd: Typically more than 50 individuals with little connection between them, and often with unclear objectives.
- The Band: Composed of a few individuals where similarity
Business Acumen: Sales, Startups, & Modern Logistics
Business Operations & Payment Status
- The order has just been delivered.
The order has already been delivered.
Have these invoices already been paid?
These invoices have just been paid.
These invoices have already been paid.
Innovations in Logistics: Autonomous Vehicles
- A self-driving lorry has already been designed by ZF, the German car parts maker.
New technology that has been developed for lorries in recent years hasn’t been developed yet.
In a self-driving lorry, the driver can usually rest while
Read MoreUnderstanding Business & Marketing Strategies
Business Evolution & Marketing Approaches
Commercial activity serves as the nexus between businesses and the market, aiming to meet consumer needs. The marketing function enables companies to maintain contact with consumers, identify their needs, and produce goods that facilitate mutually beneficial exchanges. Historically, firms have reoriented their strategies based on four primary approaches: product, sales, marketing, and social marketing.
Product Focus
Companies adopting this approach concentrate
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