Having Access to Technological Skills and Resources Is Referred to as ________

question 26

Essay

Having access to technological skills and resources is referred to as ________.

Analyze the external environmental factors affecting organizations and HRM.

Discuss methods and approaches used in environmental scanning and competitive intelligence gathering.

Understand the significance and impact of technology on organizations and HRM.

Analyze the role of HR in strategic planning and its alignment with organizational goals.

---

Definitions:

Resource Demand

The desire and ability of consumers or firms to acquire specific quantities of resources at various prices.

Marginal Revenue Product

The increased earnings resulting from the application of an extra unit of a resource, such as capital or labor.

Demand Schedule

A diagram indicating the volume of goods or services that purchasers intend and can afford to buy across a range of prices.

Purely Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a product that is identical across suppliers.