Entrepreneurs tend to rely more on nonmonetary rewards such as praise, recognition, game tickets, dinners, and others to create a work environment where employees take pride in their work, enjoy it, are challenged by it, and get excited about it.

Question

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This statement is generally true. Entrepreneurs often use nonmonetary rewards to motivate and engage their employees, as many startups may not yet have the budget to offer significant financial incentives. Additionally, nonmonetary rewards can often be more effective than money in fostering a sense of purpose and engagement among employees.

Entrepreneurs Tend to Rely More on Nonmonetary Rewards Such as Praise