Business Finance
The Incentive Plan, questions help

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Answer questions 12-18, 19 ,20, 21 Answer questions 13-12, 13, 14 ...
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The Incentive Plan.
Question 12-18
This plan should be extended to other pressers in other stores. This is because it will
encourage the pressers to work hardest to press more and get high pay at the end of the week. At
the same time, instead of paying an hourly wage which may be expensive and lead to losses
when the press turnover is not met, such losses are minimized by paying per item pressed. This
will mean that individual is only paid equivalent to what is produced but not a fixed wage.
Question 12-19
Other employees should be put on a similar plan. This will improve the work rate of
individual employees and will maximize the output and profits. However, some employees like
the counter people should not be put on this plan; it will be unfair to other workers since the rate
of work at the counters is not equal to the rate of work at the press. The wage per item should be
dependent on the section's type of job. More demanding jobs should have a bit higher rate
compared to other jobs.
Question 12-29
Another incentive plan that will work for pressers is taking care of their families. Walt
always left at 3.00 p.m. to pick his children from school and had to work hard to get $300 per
week since he had a family to take care of. Now if the company can have an incentive plan
where pressers’ children are picked...

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