Mr. Wong, a supervisor in a manufacturing company realizes that a few of his workers are not motivated enough to increase the quantity and quality of the products in his department though he has introduced various incentives to spur them to improve. Differentiate between 'intrinsic' compensation and 'extrinsic' compensation. Explain how both types of compensation lead to a good compensation package that can Incentivize the employees to be more motivated in their job? Give TWO (2) examples of intrinsic' compensation and TWO (2) examples of 'extrinsic compensation.
Mr. Wong, a supervisor in a manufacturing company realizes that a few of his workers are not motivated enough to increase the quantity and quality of the products in his department though he has introduced various incentives to spur them to improve. Differentiate between 'intrinsic' compensation and 'extrinsic' compensation. Explain how both types of compensation lead to a good compensation package that can Incentivize the employees to be more motivated in their job? Give TWO (2) examples of intrinsic' compensation and TWO (2) examples of 'extrinsic compensation.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Mr. Wong, a supervisor in a manufacturing company realizes that a few of his workers are not motivated enough to increase the quantity and quality of the products in his department though he has introduced various incentives to spur them to improve. Differentiate between 'intrinsic'
compensation and 'extrinsic' compensation. Explain how both types of compensation lead to a good compensation package that can Incentivize the employees to be more motivated in their job? Give TWO (2) examples of intrinsic' compensation and TWO (2) examples of 'extrinsic compensation.
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