Since Most of the Benefits of Training Are Intangible (Such

question 85

True/False

Since most of the benefits of training are intangible (such as attitude changes and safety awareness),it is rarely possible to evaluate the cost effectiveness of training programs.

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Definitions:

Competitive Industry

An industry environment where numerous competitors offer similar products or services, resulting in the need for businesses to vie for market share and customer attention.

Homogenous Product

Goods that are identical in quality and cannot be distinguished from one another by consumers.

Barriers To Entry

Obstacles that prevent new competitors from easily entering an industry or area of business, such as high start-up costs or complex regulations.

Economic Profits

Profits exceeding the opportunity costs of the inputs used in the production process, an indicator of efficiency and effectiveness in resource utilization.