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If a producer incorrectly sets the price of its product too low:
Training Costs
Expenses associated with developing and delivering training programs to improve employee skills and knowledge.
Flexibility
The ability to adapt to changes, pivot strategies, or alter plans in response to new information or unexpected circumstances.
Cross-Training
A method where employees are trained to perform multiple roles or tasks outside their original job function, to enhance versatility and flexibility in operations.
Reward Systems
Mechanisms or programs designed within an organization to recognize and reward employee performance, often with the aim of motivating and retaining employees.
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