The field of Industrial Psychology, which applies psychological principles to workplace settings, was primarily developed by Hugo Munsterberg. He is widely regarded as the "father" of Industrial Psychology.
Therefore, Hugo Munsterberg is credited with the creation and development of the field of Industrial Psychology.
Match List-I with List-II and select the correct answer by choosing from the codes given below :
| List – I | List – II |
| a. Variable-pay program | i. An incentive plan for tde improvement of group productivity linked witd total amount of money allocation. |
| b. Piece-rate pay plan | ii. Compensation distribution based on certain formula around company’s profitability |
| c. Profit-sharing plan | iii. Workers are paid a fixed sum for each unit of production |
| d. Gain sharing | iv. Portion of employees’ pay based on individual/ organizational measure of performance |