What Is an Advantage of Using a Competency Framework

question 56

Multiple Choice

What is an advantage of using a competency framework?

• A) it defines corrective discipline in situations of incompetence
• B) it allows managers to identify quality problems in production
• C) it gives employees an opportunity to understand which competencies are needed to add value to the business
• D) it is a test that human resource specialists can give employees to determine job standards
• E) it outlines which critical skills employees need to succeed in future jobs

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Definitions:

Corporation

A legal entity that is separate from its owners, having its own rights and obligations, and is able to own assets, incur liabilities, and sell securities.

Tax Rates Change

Adjustments made by the government to the percentage at which income, corporate profits, or other bases are taxed, which may affect individuals, corporations, and valuation of investments.

GAAP

Generally Accepted Accounting Principles, which are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.

Asset Approach

A valuation method that estimates a company's value based on the total value of its assets minus its liabilities.