Management Inventories

question 52

Multiple Choice

Management inventories

• A)are visual representations of who will replace whom in the event of a job opening.
• B)record information about managerial responsibilities and management training used to identify internal candidates eligible for promotion.
• C)are used to keep track of employees' qualifications.
• D)are a method used to arrive at a group decision involving outside experts.
• E)are a method of forecasting labour supply that involves tracking the pattern of employee movements.

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Definitions:

Lag Strategies

Compensation approaches where organizations pay below market rates due to financial constraints but aim to offer other benefits to attract and retain employees.

Labour-Intensive Firms

Companies that require a higher portion of labor input in their operations as compared to capital input, often leading to higher employment levels.

Employee Stability

The extent to which an organization retains its workforce, minimizing turnover and fostering a stable work environment.

Training And Development

Programs and activities aimed at improving the knowledge, skills, and competencies of employees to enhance their performance and career growth.