An Example of the External Labor Market Is the Situation

question 6

Multiple Choice

An example of the external labor market is the situation where:

• A) an assessment center operated by an external consulting firm evaluates company managers for promotion potential.
• B) a new vice president of marketing is hired from a competitor.
• C) the senior vice president of finance is promoted to CEO.
• D) a vice president of human resources is sent to a university executive MBA program for professional development.

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Definitions:

Statistical Process Control

is a method used in manufacturing and business processes to monitor, control, and ensure the quality of processes through statistical analysis.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean of the set.

Statistical Control

The use of statistical methods to monitor and control a process or production method to maintain its quality and efficiency.

Assignable Causes

Factors in a production process that can be identified and eliminated, known for causing variations in statistical process control.