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Business Studies IGCSEPDF 64
212 pagesrevision 46931
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1. Wage:
○ Paid weekly, often based on hours worked.
○ Simple and quick but may encourage “quantity over quality.”
2. Salary:
○ Fixed annual payment divided monthly.
○ Provides stability and security but may not encourage extra effort.
3. Bonus:
○ Extra payment for reaching a target or during special occasions.
○ Encourages short-term performance improvement.
4. Commission:
○ Paid based on the amount of sales made.
○ Motivates sales staff but may cause aggressive selling.
5. Profit Sharing:
○ Employees receive a share of company profits.
○ Encourages teamwork and loyalty.
6. Performance-related pay:
○ Additional pay based on meeting performance objectives.
○ Encourages efficiency but may lead to unhealthy competition.
1. Job enrichment:
Non-Financial Methods