Henri Fayol Recommended That Organizations Should Seek to Retain Employees

question 29

True/False

Henri Fayol recommended that organizations should seek to retain employees once those employees demonstrate competence in performing their job duties.

Understand the importance of specialization and exchange in improving efficiency.

Recognize how opportunity costs influence everyday decisions, including time management.

Grasp the concept of sunk costs and their irrelevance to future economic decisions.

Interpret the law of comparative advantage and its implications for productivity and trade.

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Definitions:

Morphemes

The minimal linguistic elements that convey meaning in any language.

Generative

Capable of producing or creating something new or different.

Semantic

Relating to meaning in language or logic, often pertaining to the interpretations and implications of words, phrases, signs, and symbols.

Cognitive Psychologists

Specialists in a subfield of psychology focused on studying mental processes such as perception, memory, thought, and problem-solving.