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

Recognize the principles behind scale precision and the hierarchy of measurement scales.

Comprehend central tendency measures and how to calculate them.

Determine the appropriate measure of central tendency based on data characteristics.

Understand the concept of bimodality in distributions.

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Definitions:

Mission

A statement that defines the core purpose and focus of an organization, guiding its decisions and directions.

Price Changes

Adjustments made to the selling price of goods or services in response to market demands, cost of production, or competitive pricing.

Demand

Prospective customers’ desire for the goods and services available.

Competitor Prices

Refers to the pricing strategies and rates set by companies competing in the same market or industry.