HR Managers Can Establish Personal Credibility by Developing Good Relationships

question 27

True/False

HR managers can establish personal credibility by developing good relationships with people both internal and external to a firm.

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Definitions:

Implicit Costs

Input costs that do not require an outlay of money by the firm

Outlay

The amount of money spent on a particular item or service, serving as expenses in financial transactions or projects.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

Capital

Economic resources that are used to create goods and services, such as buildings, machinery, and equipment.