Promoting from Within Like most fast food restaurants, Chipotle has a high rate of employee turnover. However, for Chipotle, this occurred not only at the entry-level, server jobs, but also at the shift supervisor, store manager, and area manager
levels. Why did their enactment of a policy of exclusively promoting from within the organization reduce their turnover problem in these supervisory roles?
Especially for lower level supervisory jobs, employees did not consider that the pay was worth the work. Under the promote-from-within policy, the probability that any supervisor would be promoted to the next level up is significantly higher. This means that they have an incentive not only to do their job competently but to make themselves noticed for promotion to the next better job. They are working as much for the pay in their next job as they are for the pay in their current job.
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To determine if a market is an oligopoly, we need to determine if
A. the market's HHI is less than 900. B. the firms are so few that they recognize their mutual interdependencies. C. cartels are legal in their market. D. the firms make identical or differentiated products. E. there are many firms in the market.
In order for a production possibilities curve to shift to the right, which of the following must occur?
A) government involvement B) increasing consumer wants C) economic growth D) reductions in the supply of resources
Refer to the information provided in Table 14.2 below to answer the question that follows. Table 14.2B's Strategy ?AdvertiseDon't Advertise??A's profit $100 millionA's profit $200 million?AdvertiseB's profit $100 millionB's profit $50 millionA's Strategy????Don'tA's profit $50 millionA's profit $75 million?AdvertiseB's profit $200 millionB's profit $75 millionRefer to Table 14.2. If both firms follow a maximin strategy, the equilibrium in the game is
A. (Advertise, Advertise). B. (Don't Advertise, Advertise). C. (Advertise, Don't Advertise). D. (Don't Advertise, Don't Advertise).
Why is unemployment a problem?
What will be an ideal response?