Jeff Wants to Start His Own Business and He's Eager

question 31

Multiple Choice

Jeff wants to start his own business and he's eager to make it successful.He remembers his sociology professor talking about socialization theory,human capital,and allocation theory.Armed with this knowledge,what should be Jeff's strategy in building up his business?

• A)Avoid hiring too many university graduates.They demand higher salaries,which drains money from profit margins.
• B)Hire more workers than you think you'll need.Not all of them will stay with the company for long.
• C)Hire mostly university graduates.They'll have the needed skills and productivity levels.
• D)Outsource as many positions as possible to keep personnel costs low.

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Definitions:

Analytics

The systemic computational analysis of data or statistics used to discover patterns and interpret information to support decision-making.

Analytics

The systematic computational analysis of data or statistics to identify patterns, trends, or insights.

Big Data

Large and complex data sets that traditional data processing software are inadequate to deal with, which require advanced techniques for analysis, capture, search, and storage.

Evidence-Based Management

The practice of making managerial decisions based on the best available scientific evidence, rather than solely on intuition or personal experience.