The Efficiency Approach Is a Refinement of This Person's Scientific

question 159

Multiple Choice

The efficiency approach is a refinement of this person's scientific management concepts?

• A)Frederick Winslow Taylor
• B)Frank Gilbreth
• C)Lillian Gilbreth
• D)Fred E. Bridger
• E)Edward Deming

Understand the distinction between different types of employment arrangements, including independent contractors, part-time employees, and on-call workers.

Grasp the concept of a psychological contract and how it differs from formal employment agreements.

Comprehend how technology, particularly artificial intelligence, is impacting human resource management.

Recognize trends that are changing the nature of work and employment, including job hopping and shifts in HR responsibilities.

---

Definitions:

Outlay

The amount of money spent on a particular item or service, serving as expenses in financial transactions or projects.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

Capital

Economic resources that are used to create goods and services, such as buildings, machinery, and equipment.

Accounting Profit

Total revenue minus total explicit cost