Training and Retraining of Employees Likely to Make the LEAST

question 47

Multiple Choice

Training and retraining of employees likely to make the LEAST important contribution to good strategy execution is

• A)when a company shifts to a strategy requiring different skills, competitive capabilities, managerial approaches, and operating methods.
• B)when an organization is striving to build skills-based competencies.
• C)when technical know-how is changing so rapidly that a company loses its ability to compete unless its skilled people have cutting-edge knowledge and expertise.
• D)when the chosen strategy calls for a deeper technological capability or building and using new capabilities.
• E)when the strategy execution effort is based on tried-and-true operating practices that vary little from year to year.

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Definitions:

Market Economy

An economy in which decisions about production and consumption are made by individual producers and consumers.

Public Goods

Items that cannot be restricted to non-payers and whose consumption by one individual does not diminish availability to others; these are accessible to all, regardless of payment.

Positive Externalities

External benefits.

Common Resource

A type of good that is non-excludable but rivalrous, meaning it is available to everyone but its consumption by one person can limit availability to others.