A Dynamic Business Environment Changes the Way People and Organisations

question 19

Multiple Choice

A dynamic business environment changes the way people and organisations work and consequently this influences selection techniques.To reflect these changes organisations need to:

• A) reflect the increasing popularity of work teams
• B) reflect specific technical capabilities and key work-related criteria
• C) link qualities with adaptive performance such cognitive flexibility, proactive personality and a learning orientation
• D) all of the above

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Definitions:

Variable Manufacturing Costs

Costs that vary directly with the level of production output, including expenses like raw materials and hourly labor costs.

Managerial Decision-making

The process by which managers analyze options and make determinations regarding the best courses of action for the organization.

Relevant Costs

Relevant Costs are those costs that will be affected by a decision in a specific situation, including future costs that may vary or change as a result of the choice.

Sunk Cost

A cost that has already been incurred and cannot be recovered.