High-Performance Work Practices Involve a Commitment by Management to Improve

question 106

True/False

High-performance work practices involve a commitment by management to improve the knowledge, skills, and abilities of the organization's employees, increasing employee motivation, and enhancing the retention of quality employees.

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Definitions:

Modernization Theory

A theory which suggests that as societies undergo economic development, they will also experience cultural and social changes that lead them towards becoming more 'modern' or industrialized.

Industrialized Nations

Countries that have highly developed industries, infrastructure, and advanced technological capabilities, resulting in a high standard of living.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.

Command Economy

An economic system where key economic decisions, such as allocation and distribution of resources, are made by the government.