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The Finance Director has been asked to produce a cost saving plan for the organisation which is to come into effect immediately. His initial suggestion to enable quick savings is to cut the staff development and training budget by 50%. Before he publishes the plan he has asked you to review it and let him know what the effect of this may be in the short term.
Select ALL that apply.
A. There may be a loss of competitive advantage
B. Staff skill levels may reduce
C. Recruitment may be more difficult
D. Profit will increase
E. Key staff may leave
F. Staff motivation may reduce
Answer: C,D,F
You work as a project manager for BlueWell Inc. Which of the following techniques will you use to determine whether particular work can best be accomplished by the project team or must be purchased from the outside sources?
A. Contract Types
B. Make-or-Buy Analysis
C. Expert Judgment
D. Procurement Negotiations
Answer: B
An entitlement culture is appropriate for a business that needs what type of workforce?
A. One that is highly competitive in completing daily assignments
B. One that continues to show productivity increases over time
C. One that has a line of sight to retirement
D. One that has a skill set that's in high demand
Answer: B
Explanation:
Explanation/Reference:
Answer option B is correct.
An entitlement culture rewards longevity in the job. If increased productivity is a function of time on the job, an entitlement culture will encourage employees to stay with the company. Line of sight (A) occurs when employees know that their performance impacts their pay. A highly competitive workforce (D) is more likely to exist in a pay-for-performance culture. A workforce with a highly desired skill set (C) would be better served by a pay-for-performance culture.
Chapter: Compensation and Benefits
Objective: Review Questions
Your site has several custom links.
What can you expert when viewing a Conversion Variable report?
A. Page View Will be higher than Occurrence
B. Instances will be higher than Occurrence
C. This is unknown without knowing specific variable settings
D. Occurrence will be higher than page view
Answer: C
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