Performance Management Systems Are Important Because They

question 80

Multiple Choice

Performance management systems are important because they:

• A) create documentation related to disciplining or possibly terminating an employee.
• B) can help managers make decisions about who to promote within the organization.
• C) may be used to make compensation adjustments.
• D) help identify areas where an employee may need further training or education.
• E) All of the above are correct.

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Definitions:

Competitors

Other businesses or entities that offer similar or identical products or services in the same market.

Oligopolists

Refers to firms or entities within an industry where a small number of companies control a large majority of the market share.

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and often high prices for consumers.

Perfect Competition

A theoretical market structure characterized by a complete absence of rivalry among the individual firms.