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Pay-for-Knowledge & Competitive Strategies

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How does 'pay-for-knowledge' pay link with lowest-cost and differentiation competitive strategies?

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Solution Summary

The solution examines pay-for-knowledge and differentiation of competitive strategies.

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Pay-for-Knowledge & Competitive Strategies

Pay-for-knowledge is a new compensation system that differs prominently from traditional job-based compensation systems. In this compensation system employees are remunerated on the grounds of their functioning of their explicit jobs. In this compensation system workers are only remunerated for the pertinent acquaintance, acquirements and cognitions that they can concern to the explicit jobs to which they are allotted (Celani & Weber, 1997). In spite of compensating workers for the particular chores that they execute, Pay-for-knowledge compensation systems compensate workers for the variety of jobs that they are ...

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