The Four General Approaches That Companies Use for Employee Development

question 56

Multiple Choice

The four general approaches that companies use for employee development include:

• A) formal education, assessment, job experiences, and interpersonal relationships.
• B) job rotation, promotion, transfer, and job sharing.
• C) psychological tests, assessment centers, Myers-Briggs Type Indicator, and performance feedback.
• D) business games, formal courses, team building, and assessment.
• E) total quality management, Six Sigma, lean manufacturing, and quality function deployment.

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Definitions:

Competitive Equilibrium

A state in a market where supply equals demand, resulting in an equilibrium price and quantity that clears the market.

Profit-Maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit levels.

Monopoly Firm

A single business or corporation that controls a significant portion or all of the market for a particular type of product or service.

Cost Per Unit

The total expense incurred to produce, store, and sell one unit of a product, including overhead costs.