Scenario 7.1 Brilliance Is a Management Consulting Firm That Has Offices in Offices

question 40

Multiple Choice

Scenario 7.1
Brilliance is a management consulting firm that has offices in six large midwestern cities: Chicago, Detroit, Milwaukee, Minneapolis, St. Louis, and the headquarters, Kansas City. The head of human resources, Franklin Walker, is currently facing several challenges. First, the firm needs to hire about twenty-five new consultants each year to ensure enough consultants to fully staff all projects. The firm prefers to hire business managers with about 3 to 10 years' experience in manufacturing for these jobs, and recent recruiting efforts with advertisements have led to hundreds of responses. Brilliance's HR staff are overwhelmed with the volume of résumés they receive for processing.
Second, the firm would like to be able to recommend high-tech solutions for its customers. But many of Brilliance's consultants have been out of school for more than a decade, some for 30 years or more, and their skills are no longer cutting edge. Third, and most troubling, the head of Brilliance, Indira Chaudhuri, is in her late sixties. She has not yet announced any retirement plans, but she also has not identified anyone to assume her role when she does retire.
-Refer to Scenario 7.1. Which of the following methods for filling Indira Chaudhuri's position will result in the organization's continuing need to recruit?

• A) Referrals
• B) Headhunters
• C) Internal recruiting
• D) Advertisements
• E) Electronic recruiting

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Definitions:

Purely Competitive Market

A market structure characterized by many buyers and sellers, homogeneous products, and no barriers to entry or exit, leading to price taking behavior.

Wage Rate

The amount of money paid to a worker per unit of time, which can be expressed as an hourly, daily, or piece rate.

Product Price

The amount of money required to purchase a good or service, often influenced by a variety of factors including production costs, demand, and market competition.

Marginal Revenue Product

The extra income created by the use of an additional unit of a production input.