Difference between revisions of "Incentive"

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(bridge collapse section, if read hastily, might imply that incentives were RESPONSIBLE for the tragedy)
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Of course, the main incentive for Americans is their paycheck. Performing tasks that go above and beyond one's responsibilities at a firm can result in a bonus for that individual or consideration for a promotion, while performing below expectations can lead to termination of employment, and loss of one's income.  
 
Of course, the main incentive for Americans is their paycheck. Performing tasks that go above and beyond one's responsibilities at a firm can result in a bonus for that individual or consideration for a promotion, while performing below expectations can lead to termination of employment, and loss of one's income.  
  
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==Minneapolis 35W Bridge Collapse & Reconstruction==
 
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After the collapse of the [[35W]] bridge in [[Minneapolis]] in 2007, incentives for finishing the bridge ahead of schedule had the potential of netting the company responsible for reconstruction $27 million, in addition to the original cost of replacing the bridge.  On the other hand, missing the completion date would have resulted in a $200,000 a day penalty for every day past the target date.  As a result of the incentives offered, the bridge was finished in September 2008, three months ahead of schedule.<ref>[http://minnesota.publicradio.org/display/web/2008/09/18/bridge_opens/ New Interstate 35W bridge in Minneapolis opens] MPR News, September 18, 2008</ref>
 
  
 
==References==
 
==References==

Revision as of 17:48, April 13, 2011

An incentive is usually some sort of reward (or a threat of punishment) that persuades a person to complete a task. Many companies use incentives to entice new customers to their business. For example, car manufacturers offer incentives to consumers, such as 0% financing, cash back offers or lifetime warranties, to bring in business.

Of course, the main incentive for Americans is their paycheck. Performing tasks that go above and beyond one's responsibilities at a firm can result in a bonus for that individual or consideration for a promotion, while performing below expectations can lead to termination of employment, and loss of one's income.


References