When a Firm Focuses on Hiring Only for Entry-Level Jobs

question 22

Multiple Choice

When a firm focuses on hiring only for entry-level jobs and it tends to promote from within the firm, then the firm is said to:

• A) use the benchmark competitive labor market.
• B) have an internal labor market.
• C) hire based on human capital.
• D) use compensating differentials.

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Definitions:

Culture Shock

Culture shock describes the feelings of confusion, disorientation, or anxiety that one may experience when exposed to a significantly different cultural environment.

Global Markets

The international exchange of goods and services, encompassing the interconnected economies of countries worldwide.

Balance Sheet Approach

A method in financial accounting that provides a snapshot of a company's financial condition at one point in time by listing its assets, liabilities, and equity.

Validation

The process of verifying that a product, service, or system meets the required specifications and fulfills its intended purpose.