Business Studies·Rewards for work · NSSCO 3.2
Rewards for work: financial, non-financial & payment systems
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Why does a person go to work? For the pay, yes, but also for the pride, the praise and the chance to grow. In this lesson we meet the two families of rewards, financial and non-financial, see why money alone does not motivate, describe every payment system a business can use, work out real pay on the board in N$, and finish with how work is organised to give or take away responsibility.
What you'll learn in this lesson
By the end you should be able to (NSSCO Business Studies 3.2):
- Identify the financial and non-financial rewards for work
- Explain the place of rewards in motivation
- Describe the different payments systems (salaries and wages) including piece work, time work, combination systems, bonuses, fringe benefits and commissions, productivity agreements, profit sharing
- Identify different types of responsibility structures in business and the way in which work can be organised either to give or to remove responsibility e.g. span of control
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Miss Maria and Mike talk through the whole topic — with the figure and working drawn live.