OD Can Be Distinguished from ______ in Specific Functional Areas

question 6

Multiple Choice

OD can be distinguished from ______ in specific functional areas such as finance, marketing, corporate strategy, IT, or supply chain management.

• A) training and development
• B) management consulting
• C) human resource development
• D) none of the above

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Definitions:

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, or land, where these are bought and sold.

Marginal Productivity

Refers to the increase in output that arises from an additional unit of input, assuming all other factors of production remain constant.

Marginal Productivity Theory

An economic theory suggesting that payment to factors of production equates to their marginal contribution to the output.

Value Added

The increase in the value of a product or service as a result of a particular process, typically measured as the difference between the cost of inputs and the price it's sold for.