Both the premium plans are similar in many respects, yet they differ on some other points. (i) Bonus - Under Halsey plan the bonus increases steadily with increase in efficiency. But in Rowan plan the bonus increases up to a certain point and starts declining thereafter. Rowan plan provides better bonus than Halsey plan till the work is completed in half the standard time. When the work is completed in exactly half the standard time, the bonus is the same under both the plans. When the work is completed in less than half the standard time, bonus is greater under Halsey plan. Under Rowan plan, less efficient worker may get the same bonus as a more efficient one. For example, if the standard time is 10 hours and hourly rate of wage is Rs.10, the bonus payable under the plan will be Rs.24 when the work is completed in 6 hours. The same amount of bonus is payable to another worker who takes only 4 hours to complete it. Earnings per hour - Under the Rowan plan when time saved is less than 50% of standard time, earnings per hour is higher whereas under Halsey plan when time saved is more than 50% of standard time, earnings per hour is higher. At 50% time saved, earnings per hour are the same under both the plans. Quality of output - The quality of work is not affected much under Rowan plan as the bonus increases at a decreasing rate at higher levels of efficiency and the workers do not prefer to rush work
Bonus - Under Halsey plan the bonus increases steadily with increase in efficiency. But in Rowan plan the bonus increases up to a certain point and starts declining thereafter. Rowan plan provides better bonus than Halsey plan till the work is completed in half the standard time. When the work is completed in exactly half the standard time, the bonus is the same under both the plans. When the work is completed in less than half the standard time, bonus is greater under Halsey plan.
one builds and plans and the other controls what was built.
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an audit program may contain several audit plans
There are many differences between domestic and International marketing plans. The main difference is the boundaries whereby domestic marketing targets people within particular boundaries but international marketing plans target the whole world.
The key difference between insurance and self-funded healthcare plans is in how they are funded. Insurance plans are funded by premiums paid by individuals or employers, while self-funded plans are funded directly by the employer. In insurance plans, the risk is transferred to the insurance company, while in self-funded plans, the employer assumes the risk.
A business plan defines who the company is and what it does, a strategic plans talks about the goals and measures.
A Brazilian nut plays FUTBOL, while an Austrailian nut plans RUGBY.
The main difference between retirement plans for LLCs and S Corporations is that LLCs can offer a wider variety of retirement plan options, such as SEP-IRAs, SIMPLE IRAs, and 401(k) plans, while S Corporations are limited to offering only certain types of retirement plans, such as 401(k) plans. Additionally, the eligibility requirements and contribution limits may vary between the two types of businesses.
Billed cell plans usually require a contract to be signed between you and the phone company and billed each month automatically. Prepaid means you pay in advance for each month before you can use the phone.
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Defined benefit plans provide a guaranteed retirement income based on a formula, while defined contribution plans involve contributions from both the employer and employee that are invested for retirement. The key difference is that defined benefit plans offer a fixed benefit, while defined contribution plans depend on the performance of the investments.