Explain the Various Types of Employment Tests and Their Uses

question 22

Essay

Explain the various types of employment tests and their uses.

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Definitions:

Porter's Model

A strategic tool developed by Michael Porter used to analyze an industry's structure and competition intensity through five forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, and competitive rivalry.

Competitive Strategies

Tactics and approaches that businesses adopt to outperform their rivals and achieve superior market position.

Competitive Advantage

The unique attributes or qualities a company possesses that enable it to outperform its competitors, generating greater sales or margins.

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, involving the balance among the interests of a company's stakeholders.