WGU C236 COMPENSATION AND BENEFITS QUESTIONS AND CORRECT ANSWERS 2024/2025 GRADED A+

WGU C236 COMPENSATION AND BENEFITS QUESTIONS AND CORRECT ANSWERS 2024/2025 GRADED A+. 2 / 5 1. Business Strategy: The collection of decision, approaches, and activities thatallow an organization to complete and win. 2. CostLeadership Strategy: Focusing business priories on providing a lower-costproduct or service. 3. Differentiation Strategy: Providing innovative, exceptional, and high qualityproducts and/or services to customers. 4. Niche-Focused Strategy: Targeting business prioritiestoward addressing a spe-cific section of the market 5. Hybrid Strategy: Employing a combination of cost-leadership, differentiation andniche-focused business strategies. 6. Critical Success Factors: Capabilities, activities, customer perceptions andmarket positions that allow an organization to out-compete its rivals. 7. Total rewards strategy: The combination of pay forms, plans, policies and prac-tices that enable long-term organizational performance. 8. Total Reward Content Strategy: Specifies the type, level and combination ofrewards offered to employees. 9. Reward Form Combinations Strategy: The reward forms offered (cash, bene-fits, etc.) and the way in which they relate to each other. 10. Reward Level Strategy: How much is being offered? 11. Absolute level: The reward can be defined. 12. Relative Level: States the rewards strategy as greater than, equal to, or lessthan some labor market reference point. 13. Centralized approach: Human Resources makes all the decisions 14. Decentralized approach: Decisions are made by the employee's immediatesupervisor or manager. 15. Job Analysis: The process of systematically analyzing positions that result incompleted work in organizations. 16. Traditional interview method: The job analyst asks the job incumbent presetquestions about the content, skills needed and time spent on activities in the j