HR Departments May Fall Somewhere on the Continuum of Options

question 15

True/False

HR departments may fall somewhere on the continuum of options between doing no workforce planning and hiring as needed to enterprise-level workforce planning and mitigation planning.

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Definitions:

External Benefit

A positive effect on a third party or the general public that arises from a transaction between others.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive, due to higher market prices.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Financial Viability

The ability of an entity or project to manage its expenses and generate sufficient revenue to continue operating effectively.