Discuss the Five Essential Elements of Training and Development Programs

question 114

Essay

Discuss the five essential elements of training and development programs and how they prepare employees for working internationally.

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Definitions:

Estimated Inventory

An approximation of the amount of inventory a company has, often used when actual counts are not feasible, based on sales and receipts data.

Retail Method

An inventory valuation method used in the retail industry, estimating inventory cost by applying a cost to retail price ratio.

Estimated Cost

An approximation of the cost to produce a product, start a project, or execute a plan, often used in budgeting and planning.

Gross Profit Method

An accounting technique used to estimate inventory levels and cost of goods sold, calculated as sales minus the cost of goods sold.