To Determine Whether a Training Program Will Be Worth Its

question 64

Multiple Choice

To determine whether a training program will be worth its cost,a business should most likely:

• A) weigh the cost of the problem against the cost of eliminating it.
• B) focus training on areas such as team-building and diversity.
• C) develop an on-the-job training program.
• D) implement a classroom training program.

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Definitions:

Raw Materials

The unprocessed or minimally processed materials required to manufacture goods, often natural resources like wood, ores, and oil.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold.

Optimal Amount of Credit

The ideal volume of credit a business can extend to customers that maximizes net profitability while minimizing credit risk.

Total Opportunity Cost

The cost of forgoing the next best alternative when making a decision.