The External Environment Is One of the Most Important Influences

question 6

True/False

The external environment is one of the most important influences on HRM activities for an international organization.

Understand the dynamics and economic implications of off-shoring and global trade balance.

Identify the major exporters globally and understand the shift in global economic power.

Learn about the principles of opportunity cost in decision-making for individuals and nations.

Acknowledge the social and economic concerns raised by globalization, including environmental, labor, and human rights issues.

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Definitions:

Opportunity Cost

The worth of the best alternative given up when a decision is made.

Cost-Benefit Analysis

An evaluation process that compares the costs and benefits of a decision or project to determine its feasibility or worth.

National Defense

Activities and measures taken by a government to protect its country from external threats and ensure national security.

Rival In Consumption

A feature of a quality good where if one person consumes it, others cannot consume it at the same time.