Aptitude Tests Measure Previously Acquired Knowledge

question 1

True/False

Aptitude tests measure previously acquired knowledge.

Differentiate between outsourcing, offshoring, and outplacement within the context of organizational restructuring.

Recognize the importance of ethical considerations and justice (interactional, procedural, distributive) in the downsizing process.

Understand the concept of a psychological contract and its relevance to employee-employer relationships during downsizing.

Recognize various organizational initiatives aimed at cost reduction and their time-frame relevance.

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Definitions:

Real Estate Development

The process of purchasing land, financing real estate deals, building or having buildings constructed, and selling or leasing the finished product to end-users.

Express Authority

Is the specific powers granted by a principal to an agent in a contractual agreement to perform certain actions on behalf of the principal.

Disclosed Principal

In agency law, a principal whose identity is known by the third party at the time the agent makes a contract with the third party.

Doctrine of Estoppel

A legal principle that prevents a party from denying or asserting anything to the contrary of what has previously been established as truth.