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Additional Case 5.3
You are a middle manager looking for a first-line supervisor. The selection criteria in priority order are: 1) the ability to learn and adapt to a changing job, 2) willingness to perform the job assigned under its current conditions, and 3) strong verbal and quantitative skills. In addition, the cost of the selection process is a concern since you want to look at a broad range of candidates.
The firm has about 500 employees and is a federal contractor. There is a racial imbalance among the management team, which favors white males. No evidence of discrimination exists, and the firm has never received a discrimination complaint. The firm's hourly employees are about 50% female and 35% minority. You have actively sought to provide access to disabled employees. Two years ago, the firm experienced an incident in which one employee became violent and injured several other employees. The firm was held liable for the occurrence.
-Refer to Additional Case 5.3.Given the nature of the firm,which of the following laws is most relevant at this time?
Fewer Resources
A situation or condition where there is a reduced availability of inputs or factors of production such as land, labor, and capital.
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.
Opportunity Cost
The expense incurred by not choosing the second-best option when making a decision or selection.
Comparative Advantage
The capacity of an entity to generate a product or service with a smaller opportunity cost than others.
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