Organizations Can Enhance the Relevance of Their Training and Development

question 87

Multiple Choice

Organizations can enhance the relevance of their training and development programs if they:

• A) avoid input from line managers.
• B) perform an adequate needs analysis.
• C) rely on packaged programs.
• D) set vague instructional objectives.

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Definitions:

Profit-Maximizing Monopolist

Refers to a monopolistic firm's objective to determine the quantity of output and pricing that leads to the highest possible profits, taking into account the market constraints it faces.

Profit

The financial gain realized when the amount of revenue gained exceeds the expenses, costs, and taxes needed to sustain the operation.

Nondiscriminating Monopolist

A monopoly that charges all consumers the same price for its product, rather than setting different prices for different consumers or groups.

Total Costs

The sum of all costs incurred in the production of goods or provision of services, including both fixed and variable costs.