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Define the concept of seniority and merit pay plans, comprising the strengths and limitations of such plans in an organization. Describe the job, organizational and/or other factors which must be considered when deciding between the two.

Incentive Pay Plans: Describe how incentive pay plans - both individual and group - motivate employees to accomplish high levels of performance. Recognize potential weaknesses of these plans and propose steps which can be taken to make such plans highly effectual. Then, select one industry which either an individual or group incentive pay plan would work best giving support for your reasoning (by using personal illustrations to describe your point if possible). Describe your answer.

Accounting Basics, Accounting

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