Strategic Compensation Exam 1 Study Guide (Chapter 1 of 3) || with 100% Accurate Solutions.

Competitive Advantage correct answers __________________ describes a company's success when the company acquires or develops capabilities that facilitate outperfoming the competition. Compensation correct answers _________________ represents both the intrinsic and extrinisc rewards employees recieve for performing their jobs and for their membership as employees. Total Compensation correct answers _________________ is a system represented by the combination of both the intrinsic and extrinsic compensations provided in an organization. Intrinsic Compensation correct answers ________________________ reflects employees' psychological mind-sets that result from performing their jobs. Extrinsic Motivation correct answers ________________ includes both monetary and nonmonetary rewards. Core Compensation correct answers Monetary compensation represents an orgnizations ____________________. Employee Benefits correct answers Most compensation professionals refer to nonmonetary rewards as ______________. Human Resource Strategies correct answers ________________ specify the use of multiple HR practices to reinforce competitve business strategy. Strategic Compensation correct answers _________________ refers to the design and implementation of compensation systems to reinforce the objectives of both HR strategies and competitive business strategies. Strategic correct answers A compensation system is considered ____________ when the objectives it reinforces align with both the HR and the overall competitive business strategies. h Competitive Business Strategy correct answers ________________________ refers to the planned use of company resources -financial capital, equipment capital, and human capital- to promote and sustain competitive advantage. Change the Job itself correct answers The manipulation of intrinisc compensation requires a(the) ___________________________. False. "Some extrinisc compensation is not necessarily tangible, e.g. 'thank you'." correct answers True or False: All extrinsic compensation is tangible. -It is convenient