Nicole Is Spending This Week Working Alongside Ed, a Senior

question 93

Multiple Choice

Nicole is spending this week working alongside Ed, a senior manager at the company. She has been instructed to follow his every move, and she soon discovers that Ed not only has years of experience but also a great deal of knowledge-so much so that, as she comes to realize over the course of the week, he does not even know how much he knows. This situation is best described as an example of

• A) learning.
• B) expertise.
• C) tacit knowledge.
• D) behavior modeling training.
• E) performance-prove orientation.

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Definitions:

Allocate Resources

The process of distributing available resources among various projects or units in order to achieve strategic goals effectively.

Internalize

The process by which a company takes into account the external costs (or benefits) of its activities, usually environmental, by incorporating them into its business decisions and cost structures.

Market Supply Curve

A graphical representation of the relationship between the price of a good or service and the amount of it that suppliers are willing to offer for sale at any given price level.

External Effects

In economics, externalities or external effects occur when the actions of individuals or firms have positive or negative impacts on third parties not directly involved in the transaction.