How Do Career Development Programs Benefit Organizations

question 161

Multiple Choice

How do career development programs benefit organizations?

• A) They provide greater retention of valued employees.
• B) They offer employees the opportunity for advancement within their fields.
• C) They give managers more control over their subordinates.
• D) They reduce the need for succession planning at a higher level.

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Definitions:

Profit-Maximizing Firms

Companies that operate with the goal of making the highest possible profit given their resources and market conditions.

Market Supply

The total amount of a specific good or service that is available for purchase in a given market at various prices, over a specified period.

Market Demand

The overall amount of a product or service that every consumer in a market is ready and capable of buying at different price levels.

Competitive Market

A commercial system where numerous buyers and sellers exist, preventing any single party from setting the price.