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An automobile manufacturing firm hires employees with different backgrounds and varying years of experience.The new employees and the experienced employees struggle to cope with each other as they share different views about the bonus system and the work activities.The new employees feel left out of critical decision-making processes; whereas the experienced employees feel they are undertrained.Which of the following conditions,if true,would strengthen the formation of a high-performance work system?
Substitute
A good or service that can be used in place of another, offering consumers a choice when making purchase decisions.
Input
Resources used in the production process of goods or services, including labor, materials, and capital.
Removing Subsidy
The process of eliminating financial support provided by governments to businesses, individuals, or other government departments.
Equilibrium Price
The price point at which the quantity of goods demanded equals the quantity of goods supplied, without any external intervention.
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