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output value maximization
Maximizing Output Value
Increases in production outputs have the potential to create additional profitability opportunities for organizations. This is especially true in highly competitive industries such as the automotive, aerospace, and medical device industries. Maximizing production output val......
1021 
Oliver
excess profit split
Introduction
The excess profit division scheme is a method of managing income and setting profit both fairly and effectively. It is particularly useful in situations where companies are jointly owned by several stakeholders. By following proper procedures, the excess profits division scheme can b......
Reserve cadres
Cadres Reserve
Cadres Reserve refers to a range of professional management personnel who provide guidance and supervision to ensure that potential leaders and middle-level managers are capable of performing their duties. It also includes professional skills and knowledge that cadres need to poss......
agency cost
Proxy Costs
A proxy cost is the cost of transferring resources, rights or services between one or more parties. These transactions can take place in various forms, including money, goods, services, or other types of valuable assets. They may include fees, taxes, duties, or other charges associate......
agency theory
Introduction
The theory of agency is a fundamental part of economics, business, and sociology. It is the study of the relationship between principals and agents and how incentives are created, nurtured, and maintained for both. Principals are those who set goals for the agent, and agents are thos......
number of pay grades
The Wage Grade System
The Wage Grade System, or WGS, is a multi-level system used in some workplaces to determine the salaries of workers. It is distinct from other methods of pay determination, such as the traditional pay scale, which is based on an employee’s seniority and experience level. Th......
salary grade line
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The concept of salary grade or salary level is widely used in modern society. Generally speaking, a salary grade or salary level is a framework that defines the amount of money a person can earn in a specific job or position at a particular firm. It is designed to provide consistency across diff......
salary rating
A salary grading system, also known as a pay grading system, is a framework for evaluating employee positions for the purpose of determining the amount of salary to be paid in each position. It is taken into consideration when determining pay structure and setting financial rewards.
The salary gra......
gross salary
The total earning of the salary is an important factor to consider for an individual or for a family. It gives the individual a sense of security and it provides the family with a sense of financial stability. It is also a key factor when it comes to planning for the future. The total earning of t......
Job, Salary Vocabulary
Workplace Vocabulary
Employment is a major part of modern life. People find themselves having to work to support not only themselves but their families as well. To ensure the optimum level of satisfaction and well being, the working environment must be right. In addition, certain terms of employm......
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