Formal Procedures for Assessing the Reliability and Validity of Clustering

question 3

True/False

Formal procedures for assessing the reliability and validity of clustering are simple and should be undertaken.

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Definitions:

Balanced Scorecard

A system for strategic planning and management that aligns organizational activities with its vision and strategy, enhances communication both internally and externally, and tracks the organization's performance in relation to its strategic objectives.

Departments

Divisions within an organization, each focusing on a specific area of function such as marketing, finance, or human resources.

Profit Sharing

A compensation strategy where employees receive a share of the company's profits in addition to their regular salary.

Gainsharing Program

A compensation strategy that shares the financial benefits of performance improvements with employees through collective incentives.