The CEO of your company has just had lunch with several CEOs at an industry leadership group. He meets with you and explains what he heard about incentive plans such as gain-sharing and profit-sharing plans. He thinks you should research them and get back to him with a recommendation.
Briefly describe what gain-sharing and profit-sharing plans involve. What conditions should exist prior to implementation to make it easier to implement? What are the advantages and disadvantages of group incentives such as gain-sharing and profit-sharing plans?