Explain the difference between goal-sharing and gain-sharing plans.

The core of goal sharing is that work groups or teams receive a bonus when certain prespecified performance goals are met,while under gain sharing,cost savings are quantified and then shared between the company and the group.Under goal sharing,goals on one or more performance indicators are set for each group or team,goals are to be met within a specified timeframe,and a bonus is paid to all team members if the goal is achieved.Under gain sharing,there are no set goals other than to simply improve as much as possible relative to the historical baseline.Employee involvement is considered to be a fundamental aspect of most gain-sharing plans.Goal-sharing plans can be much more arbitrary,with management making most of the decisions.