Define Labor Force

question 104

Essay

Define labor force.Distinguish between internal labor force and external labor market.

Understand the concept of nonverbal communication and its impact on the communication process.

Identify and describe the main channels of communication within organizations.

Comprehend how social media and mobile devices have transformed business communication.

Distinguish between formal and informal communication channels in an organization.

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Definitions:

Voluntary Labor

Work undertaken by choice or without financial compensation; often in the context of volunteerism or unpaid internships.

Management Practices

The actions, strategies, and methods employed by managers to achieve organizational objectives and improve performance.

Competitive Pricing

A pricing strategy where a company sets the price of its products or services based on the prices of competitors.

Sustainable Competitive Advantage

A unique advantage that allows an organization to outperform its competitors over a long period.