Which Statement Best Describes the Needs Analysis Process

question 64

Multiple Choice

Which statement best describes the needs analysis process?

• A) it is the least important step in the training and development process
• B) it is a critical step designed to identify gaps in individual and organizational performance
• C) it identifies cost inefficiencies, yet it is silent on potential solutions to individual and organizational performance
• D) it collects data and information from management on skills and knowledge deficiencies in an organization

Calculate operating profits and economic profits for a firm.

Determine the short-run operating conditions for a firm, including whether to operate, shut down, or go out of business.

Recognize the relationship between market price and firm's production decisions.

Understand the short-run supply curve of a competitive firm.

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Definitions:

Macro-Reports

Comprehensive reports that provide an overview of broad economic or financial trends and analyses, often used in strategic planning and decision-making.

Managerial Accounting

The practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals.

Detailed Reports

Detailed reports provide in-depth analysis and comprehensive details on specific areas of interest within a business, project, or research area.

External User

Individuals or entities outside of a company who use its financial statements and reports for decision making, such as investors or creditors.