What Is the Knowledge,education,training,skills,and Expertise of a Firm's Workers Known

question 49

Multiple Choice

What is the knowledge,education,training,skills,and expertise of a firm's workers known as?

• A) Intellectual property
• B) Human capital
• C) Workforce diversity
• D) Employee data stores
• E) Labour force capacity

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Definitions:

Sunk Costs

Costs that have already been incurred and cannot be recovered or altered by future actions or decisions.

Opportunity Cost

Opportunity cost represents the benefit that is missed or given up when choosing one option over another, an important concept in decision-making.

Tactical Decision

Short-term choices made by an organization, often in response to immediate challenges, that are aimed at implementing strategies effectively.

Qualitative Factors

Non-numerical elements that influence business decisions, like brand reputation or customer satisfaction.