Scenario 2: Worlds Best Tool Coating Company is a high-tech firm specializing in the coating of cutting tools (e.g., drill bits, cutting blades). These coatings lengthen the time before a tool needs to be resharpened. The company is concerned that its competition continues to develop new coating methods as well as new applications for the coating. It has asked you to help them develop a remuneration plan to create a work environment where its employees come up with more innovations and suggestions on where its coatings might be applied.

Based on the topics covered this semester (REMUNERATION AND PERFORMANCE MANAGEMENT), write a report on the design of an appropriate remuneration management program for one of the scenarios listed above.

The report should cover the following elements:

1. Suggest options for addressing these issues, identifying each options strengths and weaknesses. (400 words)