Employee Training Takes Place

question 23

Multiple Choice

Employee training takes place:

• A) after hiring and following implementation of new procedures.
• B) following competency assessment.
• C) only for new inexperienced employees.
• D) as procedures are validated.

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Definitions:

Minimum Efficient Scale

Minimum efficient scale represents the smallest amount of production a company can achieve while still taking full advantage of economies of scale in terms of costs per unit.

Industry

A group of companies that produce similar products or services and compete in the same market.

Diseconomies of Scale

Increases in cost per unit when output increases, resulting from factors such as management challenges, inefficiencies, and communication problems as firms grow larger.

Large-Scale Business

An enterprise or organization that operates on a significant scale, typically involving extensive operations, large numbers of employees, or substantial revenue.