Explain the Difference Between Role Expectations and Role Performance

question 23

Essay

Explain the difference between role expectations and role performance.

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Definitions:

Economies of Scale

Businesses gain cost benefits from increasing their scale of operations, leading to a decline in the cost per unit of output as the production size enlarges.

Q₄

Refers typically to the fourth quarter of a financial year, marking the last segment of the fiscal calendar for businesses and economies.

Economic Profit

The variance between total income and all costs, both seen and unseen, of a company.

Business Shutdown

A temporary or permanent cessation of operations by a firm due to financial difficulties or external circumstances.