Acting as a Team Manager
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Pretend that you are the team manager for a team of workers who have been given the task of making billing processes more efficient so that customers will pay on time. What kind of incentives could be appropriate if the team delivers on this task? What is the difference between merit based and profit sharing incentives?
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Solution Summary
This 208 word solution provides a discussion regarding the types of incentives that can be used to motivate a team to deliver on specific goals including profit sharing, merit-based incentives and non-financial incentives. Additionally, one reference is included for further investigation into the topic.
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Team-based incentives that are dependent upon performance are used in many organizations in many countries. There are several types of incentives that can be given to those who meet goals and deliver on tasks as required. Some of those incentives are: (McQuerrey, 2013)
Profit sharing - "Profit sharing is a team-based incentive plan in which you pay your employees a ...
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