MGT501 Assignment No.2 Solution 2021

Scenario:1

Solution

1. Prevailing Wages

The prevailing wage rate is defined as the average wage paid to similarly employed workers in a specific occupation in the area of intended employment.

2. Productivity

Productivity is the amount of goods and services that a group f worker produces in a given amount of time.

Scenario:2

Solution

1. Productivity
2. Bargaining Power
3. Ability To Pay

1. Productivity

Productivity is the amount of goods and services that a group f worker produces in a given amount of time.

2. Bargaining Power

The ability for employers or workers to get what they want.

3. Ability To Pay

An organization’s Employer’s ability to pay to determine pay levels. Financially successful firms tend to provide higher-than-average compensation. However, an organization’s financial strength establishes only the upper limit of what it will pay

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