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Explain What Is Meant by the Margin of Safety and How

question 53

Essay

Explain what is meant by the margin of safety and how it is used by managers.


Definitions:

Future Job Performance

The expected level of an employee's work efficiency and effectiveness in future tasks and responsibilities.

Selection Device

Tools or processes used to assess and choose the most suitable candidates for a job or task.

Behavioural Interview

An interview in which job applicants are asked about past behaviours.

Structured Interview

A systematic interviewing technique where all candidates are asked the same set of predetermined questions in the same order to ensure fairness and comparability.

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